Ezaklee one month to the day, from my March 30 post, Messiah/President/CEO Barack Husein Obama Chavez Stalin announces that Chrysler Corporation is...
1) officially bankrupt,
2) merged with Italian junk-car maker Fiat in a joint venture,
3) 30 percent owned by the US federal government,
4) 40 percent owned by the United Autoworkers Union,
5) 30 percent owned by the former investors (who used to own most of the stock),
6) certain to need more guvment money to "survive" because the union will continue to bleed the company for benefits until they bleed it to death.
Fiat used to sell cars in the US but failed to hold their customers here because their cars were junk.
They still are.
(Remember the Yugo in the 90's? It was a Fiat built in Yugoslavia [how's THAT for a losing combination?]. It failed for the same reason all Fiats fail to sell in this country - they are junk.)
They could not produce cars with quality equal to the American cars at the time (imagine that!), and nowhere near the quality of the Asian imports at the time.
Chrysler is not known for high quality cars now (pre-bankruptcy), joining with Fiat is like the two last-place teams in the league (pick a league, any league) and creating an "all-star" team.
Instead a regular losers, they are special losers.
General Motors is next.
Care to guess how much of that company the UAW will be given by the Obama-Stalin administration?