Good, Neko. Everyone on the planet seems to keep forgetting why this company simply WILL NOT be purchased for cash - Each piece of the pie has enormous value - Dodge trucks alone is a fantastic asset - but the entire pie is poisoned with the un-funded pension, entitlements, and union.neko said:Doesn't Chrysler have unfunded pension liabilities somewhere around $30 billion USD? So how can its pension assets be overfunded?
I said it a month ago, I say it again - this company will be purchased by a Chinese company, immediately put into bankruptcy to blow off the unions & pensions, then either re-emerge as a whole or be parted out then.
The post above reminds me of when someone niave looks at the assets of a company (say Chrysler at 20 billion) and says "Wow, the company is worth 20 billion!"
Uh, No. There are two sides to a balance sheet, assets and liabilities. If a company has 40 gazzilion dollars in cash under the mattress, yet it has 41 gazzilion dollars in liabilities, the company is less than worthless.
GM looking to purchase Chrysler? Please. You cannot expand out of losses by purchasing another company with losses. GM, Chrysler, etc. should be embracing winners in other countries to boost themselves