Chrysler is Worth Nothing

Throwing money at this company is a waste of time and money. “Loan” is really a political term. As taxpayers, we are at the back of the line. Everyone else (bondholders, union pensions, stock holders) will get paid first. These “loans’ are gifts to a failed industry. The company died years ago, but nobody bothered to report it. Here are some facts:

Dailmer currently values the company at nothing

In 2008, Dailmer revalued their 19.9% share in the company at – wait for it - $0.

http://thearticlewriter.com/autowriter/to-daimler-chrysler-is-utterly-worthless/

Cerberus Values the company at $0

This is the first paragraph on the Cerberus site describing what they do: (the company that owns Chrysler): Cerberus Capital Management, L.P. is one of the world's leading private investment firms. Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation.

http://www.cerberuscapital.com/about_comp_prof.html

And how are they investing this failing company to make it an industry leader? They are sending representatives to the government to beg for handouts. As a business, this company has no value. If it did, Cerberus would be investing the company.

Opinion

My opinion? I believe “Jeep” is a brand that will survive bankruptcy and could have a long, prosperous life within a sustainable company. Other than that, this company has failed and needs to be terminated.

Chrysler is worth nothing and needs to go bankrupt ASAP! Every dollar we throw at them is money that could be spent on health care, retraining, or not spent at all. Please contact your local congressman, senator, MLA, or MP and say NO!