# Chrysler is going under... **URL:** \ **Category:** NYSpeed Automotive\ **Created:** [November 2, 2008, 12:21pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455 "2008-11-02T12:21:44Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [November 2, 2008, 12:21pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/1 "2008-11-02T12:21:44Z")
Close friend high up in Chrysler says they are going under big time. Not naming any names, but he is looking for another job. They only thing that sucks is he has 3 company cars…that is probably why they are going under ha. I asked him, and yes he has to give the cars back… Thoughts? ---
**Author:** ![Carbonfiberhooded](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/carbonfiberhooded/32/7608_2.png) [@Carbonfiberhooded](https://forums.speedlife.net/u/Carbonfiberhooded)\ **Post date:** [November 2, 2008, 12:24pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/2 "2008-11-02T12:24:34Z")
I heard that they were being bought by GM. No idea how true that is. ---
**Author:** ![2TurboZ](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/2turboz/32/7577_2.png) [@2TurboZ](https://forums.speedlife.net/u/2TurboZ)\ **Post date:** [November 2, 2008, 12:26pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/3 "2008-11-02T12:26:21Z")
The GM merger is one of the oddest things you could imagine…how does Mercedes Benz figure in? I thought Chrysler was merged with them? ---
**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\ **Post date:** [November 2, 2008, 12:28pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/4 "2008-11-02T12:28:40Z")
I do believe Chrysler will go bankrupt, unfortunately I think GM is going to buy them and I don’t think that is a good idea. GM has made some major improvements in the last few years and I think buying Chrysler will make them lose alot of the ground they have gained ---
**Author:** ![Slopoke](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/slopoke/32/7248_2.png) [@Slopoke](https://forums.speedlife.net/u/Slopoke)\ **Post date:** [November 2, 2008, 12:32pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/5 "2008-11-02T12:32:27Z")
so the lifetime warranty isnt helping huh… ---
**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\ **Post date:** [November 2, 2008, 12:38pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/6 "2008-11-02T12:38:26Z")
no it isn’t. It would be very sad to see Chrysler gone but it has gotten to that point already. I have watched their sales numbers decline steadily in our area so I’m not surprised that has been happening all over the country. Somewhat off topic but there are several dealers in WNY who are at a serious risk of closing, I know of a few that are closing currently and that worries me as well. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [November 2, 2008, 12:40pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/7 "2008-11-02T12:40:49Z")
wow the employee buyout has been in the news for like 3 weeks, they are downsizing not going under. But bankruptcy would help with franchising laws if they were to be bought by GM. ---
**Author:** ![Slopoke](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/slopoke/32/7248_2.png) [@Slopoke](https://forums.speedlife.net/u/Slopoke)\ **Post date:** [November 2, 2008, 12:42pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/8 "2008-11-02T12:42:44Z")
goodfucktransittowneusa… But in all honesty im am some what surprised by this… Jeep and caravans have always been great sellers and now they have a decent line up thats fairly cheap and a fantastic warranty, I was looking at a brand new Black Challenger the other day and was amazed at the $21,000 MSRP with a LIFETIME POWERTRAIN WARRANTY…No its wasnt an r/t or srt but still ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [November 2, 2008, 1:17pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/9 "2008-11-02T13:17:59Z")
> [@TORQDSS](#): > > I do believe Chrysler will go bankrupt, unfortunately I think GM is going to buy them and I don’t think that is a good idea. GM has made some major improvements in the last few years and I think buying Chrysler will make them lose alot of the ground they have gained GM has no cash on its books, but Chrysler does. Absorbing Chrysler will give them some collateral to stay afloat… for now. Also, less vehicles in the market means less competition, and more sales for GM and Ford. And from what I’ve read, some government officials don’t want to give GM bailout money unless they absorb Chrysler. ---
**Author:** ![Deathproof](https://avatars.discourse-cdn.com/v4/letter/d/dec6dc/32.png) [@Deathproof](https://forums.speedlife.net/u/Deathproof)\ **Post date:** [November 2, 2008, 3:23pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/10 "2008-11-02T15:23:34Z")
> [@2TurboZ](#): > > The GM merger is one of the oddest things you could imagine…how does Mercedes Benz figure in? I thought Chrysler was merged with them? Daimler sold Chrysler awhile ago, it’s now Chrysler LLC, because it is not a publicly owned company anymore, a private German company bought them. ---
**Author:** ![Deathproof](https://avatars.discourse-cdn.com/v4/letter/d/dec6dc/32.png) [@Deathproof](https://forums.speedlife.net/u/Deathproof)\ **Post date:** [November 2, 2008, 3:24pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/11 "2008-11-02T15:24:12Z")
oh and my mom just bought a new Chrysler, hope the warranty gets honored. ---
**Author:** ![Danny\_Boy](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/danny_boy/32/5079_2.png) [@Danny\_Boy](https://forums.speedlife.net/u/Danny_Boy)\ **Post date:** [November 2, 2008, 3:30pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/12 "2008-11-02T15:30:16Z")
The writing has been on the wall for quite some time now.Honestly its a shame,Mopar has some good products. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [November 2, 2008, 3:33pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/13 "2008-11-02T15:33:39Z")
> [@deathproof001](#): > > Daimler sold Chrysler awhile ago, it’s now Chrysler LLC, because it is not a publicly owned company anymore, a private German company bought them. No, a US company called Cerberus bought 80.1% of them, MB owns the rest still > **[Chrysler to Be Acquired by Private-Equity Firm for $7.4 Billion](https://www.cnbc.com/id/18646336/)** > > Private equity firm Cerberus Capital Management will buy the majority of  DaimlerChrysler's struggling Chrysler Group for $7.4 billion, a fraction of the $36 billion deal that created the transatlantic car union nine years ago. ---
**Author:** ![rj-92](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/rj-92/32/7310_2.png) [@rj-92](https://forums.speedlife.net/u/rj-92)\ **Post date:** [November 2, 2008, 3:38pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/14 "2008-11-02T15:38:41Z")
> [@Onyx Z32](#): > > And from what I’ve read, some government officials don’t want to give GM bailout money unless they absorb Chrysler. I heard the exact oppostie. > **[MotorTrend: New Cars - Car News and Expert Reviews](https://www.motortrend.com/)** > > Trust MotorTrend for the best car reviews, news, car rankings, and much more. With more than 70 years of experience, we're your home for everything automotive. ---
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [November 2, 2008, 9:05pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/15 "2008-11-02T21:05:46Z")
To my knowledge… > [@BigRon](#): > > No, a US company called Cerberus bought 80.1% of them, MB owns the rest still > > [Chrysler to Be Acquired by Private-Equity Firm for $7.4 Billion](http://www.cnbc.com/id/18646336/) You are right as in the company is US based, but the company is a conglomerate of rich mostly European investors. > [@deathproof001](#): > > Daimler sold Chrysler awhile ago, it’s now Chrysler LLC, because it is not a publicly owned company anymore, a private German company bought them. You are also right that Chrysler is a LLC, and that the money is based overseas. > [@anything:but:wiki](#): > > Steve Feinberg started [Cerberus Capital Management, L.P.](http://www.cerberuscapital.com/) in 1992. Now, the firm manages about $16.5 billion. Some of its areas of investment include technology, real estate and retail. The firm also has extensive experience dealing with bankruptcies. > > Interestingly enough, Cerberus has its own bank, which is based in Japan (called Aozora). This has been helpful in terms of financing deals. > > The firm also has, on staff, about 80 veteran executives, who search for deals and have an opportunity to run companies that are purchased. > > In October 2006, the firm hired John Snow, who was the 73rd Secretary of the Treasury of the United States, to be Chairman. What’s more, the firm’s chairman of global investments is Dan Quayle, who is the former Vice President of the United States. > > Cerberus has more than 275 employees and has offices in New York City, Atlanta, Chicago, and Los Angeles. > > **CONTACT INFORMATION** > 299 Park Avenue > New York, NY 10171 > Phone: 212-891-2100 > [www.cerberuscapital.com](http://www.cerberuscapital.com/) In the end it seems that they are fucked though. Just as I thought the charger R/T seemed like a nice buy… oh well. ---
**Author:** ![Paulo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/paulo/32/7328_2.png) [@Paulo](https://forums.speedlife.net/u/Paulo)\ **Post date:** [November 2, 2008, 9:47pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/16 "2008-11-02T21:47:46Z")
So what happens to Chrysler warranties? Is Chrysler currently backed by any big name insurance company like AIG? If so, then they would be the ones to front the cost of all the warranty shit. ---
**Author:** ![9ONA3OOZX](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/9ona3oozx/32/7242_2.png) [@9ONA3OOZX](https://forums.speedlife.net/u/9ONA3OOZX)\ **Post date:** [November 2, 2008, 9:52pm UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/17 "2008-11-02T21:52:45Z")
> [@Slopoke](#): > > so the lifetime warranty isnt helping huh… in the fine print it specified “lifetime” refers to the life of the Chrysler company…not the cars, silly goose. :lol: ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [November 3, 2008, 4:40am UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/18 "2008-11-03T04:40:14Z")
> [@Paulo](#): > > So what happens to Chrysler warranties? Is Chrysler currently backed by any big name insurance company like AIG? If so, then they would be the ones to front the cost of all the warranty shit. No the warranties are backed by the company themselves. It is different from service contracts. If they want to keep any kind of customer loyalty they will honor them. On the other hand bankruptcy helps void franchise agreements which are extremely costly to get out of. Also the lifetime powertrain only applies to the first owner and you have to have all maintenance done by a Chrysler approved service centers and all scheduled maintenance. ---
**Author:** ![Paulo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/paulo/32/7328_2.png) [@Paulo](https://forums.speedlife.net/u/Paulo)\ **Post date:** [November 3, 2008, 4:42am UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/19 "2008-11-03T04:42:32Z")
Well I’m referring to when the business goes bankrupt. Then the customers will be SOL? How about if GM buys them out? Will they be responsible for the warranties? Seems like there is a huge gray area in the matter. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [November 3, 2008, 5:36am UTC](https://forums.speedlife.net/t/chrysler-is-going-under/57455/20 "2008-11-03T05:36:18Z")
> [@ultradriver10000](#): > > To my knowledge… > > Quote: > Originally Posted by **BigRon** > _No, a US company called Cerberus bought 80.1% of them, MB owns the rest still_ > > _[Chrysler to Be Acquired by Private-Equity Firm for $7.4 Billion](http://www.cnbc.com/id/18646336/)_ > > You are right as in the company is US based, but the company is a conglomerate of rich mostly European investors. > > Quote: > Originally Posted by **deathproof001** > _Daimler sold Chrysler awhile ago, it’s now Chrysler LLC, because it is not a publicly owned company anymore, a private German company bought them._ > > You are also right that Chrysler is a LLC, and that the money is based overseas. > > Quote: > Originally Posted by **anything:but:wiki** > _Steve Feinberg started [Cerberus Capital Management, L.P.](http://www.cerberuscapital.com/) in 1992. Now, the firm manages about $16.5 billion. Some of its areas of investment include technology, real estate and retail. The firm also has extensive experience dealing with bankruptcies._ > > _Interestingly enough, Cerberus has its own bank, which is based in Japan (called Aozora). This has been helpful in terms of financing deals._ > > _The firm also has, on staff, about 80 veteran executives, who search for deals and have an opportunity to run companies that are purchased._ > > _In October 2006, the firm hired John Snow, who was the 73rd Secretary of the Treasury of the United States, to be Chairman. What’s more, the firm’s chairman of global investments is Dan Quayle, who is the former Vice President of the United States._ > > _Cerberus has more than 275 employees and has offices in New York City, Atlanta, Chicago, and Los Angeles._ > > _ **CONTACT INFORMATION** _ > _299 Park Avenue_ > _New York, NY 10171_ > _Phone: 212-891-2100_ > _[www.cerberuscapital.com](http://www.cerberuscapital.com/)_ > > In the end it seems that they are fucked though. Just as I thought the charger R/T seemed like a nice buy… oh well. > . [http://www.portfolio.com/executives/features/2007/08/13/Stephen-Feinberg-Cerberus#page1](http://www.portfolio.com/executives/features/2007/08/13/Stephen-Feinberg-Cerberus#page1) best article on Cerberus as it relates to Chrysler… you will learn much about the company and how the United States works. I’ve probably linked to it before. [Next page](https://forums.speedlife.net/t/chrysler-is-going-under/57455.md?page=2)