Chrysler, R.I.P.

http://www.newsweek.com/id/166659

It's an ignominious end for the company of Lee Iacocca and once-hot models like the Dodge Viper, PT Cruiser and the Hemi 300C. Daimler, which paid $36 billion for Chrysler in 1998, put a fitting coda on its investment last week. It valued its remaining 20 percent stake in Chrysler at zero.

So why would GM want a worthless automaker? Well, it certainly isn't about Chrysler's cars. It's about the cash. Chrysler said it had $11.7 billion in the till this summer, and GM desperately needs that money to survive. It also wants to get rid of one of its crosstown rivals so it doesn't have to match the outrageous rebates Chrysler puts on its models any more.

created by charlatan on Nov 01, 2008 at 11:16:51 am Comments: 5

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Even more saddening is the fact that many workers will lose their job because they will no longer be able to produce the Calvin and Hobbes sticker with Calvin pissing on a dodge logo. We may also see a decline in the production of the Dale Earnhardt with halo stickers. Very sad day indeed.

posted by UM on Nov 01, 2008 at 12:01:49 pm #

LOL.

Saint Dale is serious business. Try telling NASCAR fans you're rooting for Sterling Marlin.

Murrika is still #1.

posted by charlatan on Nov 01, 2008 at 02:05:57 pm #

GM simply wants to relaunch the K-car...they're innovative

posted by justareviewer on Nov 01, 2008 at 06:03:33 pm #

the pt cruiser was the nail in the chrysler coffin. god those cars are fugly

posted by upso on Nov 01, 2008 at 07:30:09 pm #

pt cruiser = bathtub on wheels

posted by UM on Nov 01, 2008 at 07:56:16 pm #

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