Chrysler Burns $4-$5 Billion Per Month
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Serbian Steamer
Serbian Steamer
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That's not the figure Nardelli gave to capitol hill yesterday. He stated repeatedly that they (Chrysler) have had a total cash burn of 9 billion in the first 3 quarters of '08.
Moreover, based on a third party evaluation of financial strength, the big three were rated as follows from best to worst.
1. Ford
2. Chrysler
3. GM
Which would explain why GM wanted Chryslers's nearly 12billion in cash reserves. In any case, the presentations made at capitol hill yesterday were a joke.
Moreover, based on a third party evaluation of financial strength, the big three were rated as follows from best to worst.
1. Ford
2. Chrysler
3. GM
Which would explain why GM wanted Chryslers's nearly 12billion in cash reserves. In any case, the presentations made at capitol hill yesterday were a joke.
Tasca Super Boss 429 Member
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All three had a larger Cash Burn in the last couple months than in the entire year prior. It appears that Ford is OK without the money but wants it in case things get worse(!), Chrysler is running out but thinks they can survive for a couple quarters, and GM is all but completely out of cash.
Closet American
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All three had a larger Cash Burn in the last couple months than in the entire year prior. It appears that Ford is OK without the money but wants it in case things get worse(!), Chrysler is running out but thinks they can survive for a couple quarters, and GM is all but completely out of cash.
Tasca Super Boss 429 Member
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Well, yes. I was referring to the money Ford wants for itself, which appears to be less imperative to survival than GM/Chrysler's
Closet American
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From: Vancouver, BC (Hollywood North)
I'm afraid we're entering a very dark hour for the American automobile industry. At this moment, it looks as though the automakers will not get any bailout money.
Time to hold vigil for General Motors.
Time to hold vigil for General Motors.
Tasca Super Boss 429 Member
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The new Congress in January will likely approve bridge loans with conditions, the Democrats aren't going to let the industry die without at least making en effort to save them. If GM can hold on until then, we might be allirght. If GM files before then, though, all bets are off.
Closet American
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From: Vancouver, BC (Hollywood North)
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I wouldn't think it would be in Fords interest to take them up on a loan given that they are running on one right now as it is. Paying back 2 big loans would compound their financial woes if they can weather the storm on current reserves I would think.
I agree with moose though I don't see the dems letting Detroit die. There are too many advocats forcasting total implosion if just one goes. I'm sure they all get the point.
I agree with moose though I don't see the dems letting Detroit die. There are too many advocats forcasting total implosion if just one goes. I'm sure they all get the point.
Last edited by Slims00ls1z28; Nov 23, 2008 at 01:17 AM.
Legacy TMS Member Pr
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From: PR
I'm afraid we're entering a very dark hour for the American automobile industry. At this moment, it looks as though the automakers will not get any bailout money.
Time to hold vigil for General Motors.
Time to hold vigil for General Motors.
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