Obama promised to keep American jobs & Corps IN America. Why did he push to sell Chrysler to FIAT in Italy?

Question

Obama & his Administration PUSHED the Supreme Court of The United States of America to allow the Sale to go through ... disregarding Shareholders and Retirees wishes.

Answer 1

He had two choices. Sell the company to the ONLY willing buyer, or watch it go in to liquidation. That was the ONLY other option on the table. Nobody else wanted that mess... At least Fiat is going to continue making Chryslers IN THE U.S.

Answer 2

Obama is now perceived as a weak leader in Europe thanks to his spending more time telling Europe how bad the U.S. has been through history. I sure didn't agree with Bush's treatment of our European Allies the past 8 years, but Obama sure didn't need to go over there with his tail between his legs and kissing everyone's rear ends. While we might not have been perfect, we did save Europe's butt twice within the last century...otherwise, everyone over there would be speaking German right now.



Knowing this, and being a good business man, the President of Fiat gave Chrysler (and the bankruptcy court) until the 15th June to close the "deal". Thus, Obama as you so correctly state "PUSHED" it through the Supreme Court to reach that time. Don't you find it interesting that Obama didn't think about picking up a phone and just calling the President of Fiat and ask him for a little more time so we could get everything done right?



It's not that he was disregarding any one's wishes, he disregarded law. By law, the secured debtors should have been given a much larger percentage of GM ownership over the UAW...and the UAW also received a very large cash payment that no one else got. But, since 2000, the UAW has given Democratic candidates almost $24,000,000 in campaign contributions, while Republican candidates were given around $195,000 during the same time.



More of what happened to GM & Chrysler dealers had to do with politics, than with saving a auto maker.

Answer 3

Your commentary of the situation is like finding in the time of a farm, and saying "the worldwide is flat" this is what got here approximately: a pair months in the past, President Bush agreed to loan the motor vehicle marketplace bailout funds, yet he suggested they had to return up with a potential operation plan by ability of the top of march. they presented the plans, and that they have been so tousled that it grow to be stated that GM CEO needed to renounce. Chrysler grow to be informed they weren't getting any help till that they had an superior plan. Fiat had introduced that they have been in complication on Saturday. Chrysler approached Fiat (for the reason that fiat has extra funds) and stated a merger. Chrysler then went back to the White homestead and asked for an extension, for the reason that they have been attempting to artwork the merger. the white homestead suggested they could get 30 days to get it accomplished, and agreed to loan them the money to function for 30 days. The president did no longer tension them to merge, nor recommend that the corporation sell itself. Fiat is in complication additionally, and can't purchase Chrysler a million. first submit shows Fiat having financial problems 2. 2d submit shows white homestead rejecting restructure plans 3. third submit shows circumstances Bush set for bailout funds

Answer 4

I have no clue what our new President is up too but letting people go from their jobs is very wrong, not only did he let Chrysler go he also let General Motor's go too, and both these car dealer's was the very best, my very own family worked at General Motors (GM), and that made me really mad. How many more people are going to be out of a job I do not know but the President does need to keep the American jobs and Corps open if he can't do that then he needs to get out of office.

Answer 5

The only thing thats gonna happen is alot of broken promises. He will soon send this country into utter chaos and mass murders and robbings with people trying to survive. He is the worst thing that could ever happen to this country and he is the anti christ. This chrysler ordeal is only the begginning. Yea lets shove billions of dollars into a stimulus package and everyday the unemployement rate sky rockets and ppl prepare to live on the streets and watch there children starve while you sit up there in the white house and laugh. yea go **** yourself.

Answer 6

we will be less gruntled when F.I. A. T.(means fix it again tony) rolls out onion shaped put puts with a motor the size of a lawn edger,gets 30 miles to a charge,sold in two colors,yellow and avocado,a chinese made fm( no mo am) stereo,as useless as walgreens ten buck radios that don't play stereo,,same for signature brand amfm radios,the blue tiny things,worthless,same for jensen,all made in china,the boss made a promise he couldn't keep,,not the first time,or the last,see what the next year brings,,,,6 months and it's been a rollycoaster ride

Answer 7

he salvaged jobs , chrysler to fiat but the plant remains in US other wise plant would have been shut down and machinary sold as onpiece meal basis