Oligopoly Watch explains how Chrysler “is likely to end up in the chop shop” with the money money guys who bought it planning to “suck the company dry.” No matter that thousands will lose their jobs or that the resultant cars will be junk, so long as they make a quick profit.
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Last time Chrysler found itself in this position (or was it the time before?) they survived by getting one of the biggest corporate welfare bailouts in history, at taxpayer expense. Did it fix the problem? No. One of the principles of capitalism is that companies perform or perish. Chrysler is a victim of its own failure to cope with changing times– that failure has spilled across the pond into the Daimler part of the company if Mercedes’s dismal reliability ratings are any indication.
Lots of people will lose jobs, and that is tragic. But it’s the fault of Chrysler management, not the people buying up what’s salvagable. Life support for corporations doesn’t help anybody in the long run– let Chrysler die.
I think that’s precisely what they new owners plan, to let it die after they’ve plundered what they can.
PS Chrysler did pay back all of the bailout, as I recall. And were seriously innovative for a while. They invented the mini-van.