Auto woes !!!!!

Not every one will agree with this but where is Iacocca. The Chrysler hero recipe for victory.

 

“There’s a made-in-the-USA template” “It’s called equality of sacrifice”

 

For starters Iacocca cut his salary to $ 1 a year. At that time Chrysler stakeholders needed to raise $1.4 billion before the loan guarantees took effect. So the UAW coughed up $462 million in concessions.

Non-union Chrysler employees took $125 million in pay cuts; suppliers and dealers contributed $180 million. Chrysler’s foreign banks committed $150 million, and its US lenders put up $500 million.

-Automotive news

 

This is the deal he made many years ago. Why won’t it work again? I sure don’t know.

But, I don’t agree with the Detroit 3 filing chapter 11. Most auto dealers would not survive the instant cash crunch. Sales incentives, warranty reimbursements would become unsecured debt. This would allow the automakers to pay pennies on the dollar and even delay those payments. Mine and thousands of other dealers out there would be put out to pasture. There are some people out there who say this is what they should do. That’s OK. That’s your opinion and American right. I’m not righting this to debate. This is my opinion. My right.

 

Who saved America during WWII with an infrastructure to manufacture the machines to win the war. Who drove wages and job opportunity for America after the war?

GM, Ford and Chrysler. Who will be there for America next time: KIA? Toyota? B.Sowers: