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View Full Version : appearently we the tax payers own a few car companies now..


johnzm
05-30-2009, 09:55 PM
http://www.marketwatch.com/story/treasury-sets-up-new-company-for-chrysler


Treasury Department Sets Up New Company for Chrysler

By Greg Robb WASHINGTON (MarketWatch) -- The Treasury Department said Friday it set up a new company to succeed Chrysler LLC. The new company, NewCarCo Acquisition LLC, is based in Wilmington, Del. On Wednesday, Treasury transferred $6.943 billion to the new company. Chrysler is in bankruptcy court seeking approval for a sale to Fiat SpA. Earlier, White House spokesman Robert Gibbs said the Obama administration is hopeful that the court will soon allow Fiat to complete its purchase of Chrysler.
preferredduck
06-01-2009, 12:57 AM
http://www.marketwatch.com/story/treasury-sets-up-new-company-for-chrysler


Treasury Department Sets Up New Company for Chrysler

By Greg Robb WASHINGTON (MarketWatch) -- The Treasury Department said Friday it set up a new company to succeed Chrysler LLC. The new company, NewCarCo Acquisition LLC, is based in Wilmington, Del. On Wednesday, Treasury transferred $6.943 billion to the new company. Chrysler is in bankruptcy court seeking approval for a sale to Fiat SpA. Earlier, White House spokesman Robert Gibbs said the Obama administration is hopeful that the court will soon allow Fiat to complete its purchase of Chrysler.

wow wilmington deleware, isn't that where most credit card companies run from too. lol
eraser4g63
06-01-2009, 11:40 AM
So does that mean we as the tax payers get free cars? Or do we have to qualify for them by being " under privileged"?
BanginJimmy
06-01-2009, 01:28 PM
Actually cars will go up in price and down in quality. They will become another govt money pit like Medicare, Amtrak, and Social Security.
SL65AMG
06-01-2009, 04:56 PM
i guess i will not be buying any more american cars..... unless they were built in the 60's or 70's hehe
SL65AMG
06-01-2009, 04:56 PM
Actually cars will go up in price and down in quality. They will become another govt money pit like Medicare, Amtrak, and Social Security.

we see how well those worked out.... :lmfao:
tony
06-04-2009, 07:40 AM
People don't understand what happens when the government takes control, do I care for the process? No, but when the government takes over they basically come in and take account of all assets, maintain the stability of the company and take bids on PRIVATE companies that are willing to purchase the assets and/or company. Again I don't care for it but I at least understand what happens.