ClassicCar

Unfortunate for the Auto buffs, but there is some history in this decision. Back when the Iacocca’s of the world were trying to save this auto company from self destruction. The US government was asked for a loan to save the company. Many pooh-poohed such a preposterous request, but Lee persisted and received the loan. (Not a bail-out). Chrysler restructured and became solvent paying back the loan with interest and moving on. The same problems that beset the company returned in this decade and because its leaders failed to see responsibility for the bad decisions being made and the company again became insolvent. This business failure had little to do with the news hyped stories of a failing US economy. Chrysler was dead from debt load long before these stories were told. For a second time Chrysler received taxpayer monies to prop up the corporation. But, the second time the architects of the deal had other motives. Like the GM deal, all fiscal capabilities of the company were pulled in and the deal makers removed the escrowed capital being held against future liabilities. Operating capital bailout went to Chrysler to keep the company running. All the while in the background a non US company was moved to the superior position to take over and run the company. As a result, you good citizens have assured that a once US owned company is now owned by a company who unlike the previous managers are bottom line motivated. Good will and history do not contribute to the bottom line. Wait till the “future liabilities” begin to be called, we citizens will again get to provide funding to replace the “escrowed capital” those bailout deal makers removed. We who are BBs (baby boomers) are getting a glimpse of what those who are of the” X generation” think about history and nostalgia. Get used to it ... what a BB thinks about all this does not even register with those who are making the rules and moving dollars from your account to theirs. Museums closures are palatable parts of future changes.