Today the judge that is handling the Chrysler bankruptcy case is giving the company $4.5 billion. Fiat, the owner of Ferrari and Maserati has agreed to buy Chrysler's assets to stay in business. The biggest obstacle that is keeping Chrysler out of this recession is that the company's lenders currently hold almost $7 billion of the companies debt. This has come after the Ontario government said that they would own 2% of the company for a price of $3.8 Billion. The liberals are very confidant the seat at the boardroom table and the 2% share will make sure that the plants in Brampton and Windsor will stay open. When Ontario is doing this Washington is pumping in an 8% share in the company which is equal to $13 billion dollars.
Chrysler and all the other auto makers are not doing that well at the moment and right now I think it would be a good idea to give some of these companies bailout money. One of the big three automakers is going to be gone at the end of this depression and at the moment I do not know which one it is going to be, but it will either be Chrysler or GM because Ford is doing really well. While all this is blamed on the depression Audi, the German car company, has reported that there sales have jumped 14% since september last year. So maybe it's not the recession, it's just that people are realising that people can get more for less with these imported cars. Because I know for a fact that even 2 years ago there were not as many German and European cars on the road as there are today.
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