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Old 10-02-2012, 12:53 PM   #601
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The Chrysler Corporation Loan Guarantee Act of 1979 let them go bankrupt without having to actually go through it. Kind of a quasi-bankruptcy. Creditors sucked up big losses as MoPar paid off debt at less than 1/3 what was owed. Then they laid off about half of their employees. It showed a profit by 1983 but then the losses from '79 - '82 assured an almost 0 tax burden for years to come. They used loss carryforward to make up half of their profit so they would looked better on paper.

They also cut deep into R&D and the UAW made concessions. They continued to re-badge foreign cars and their new K models were left basically unchanged for years. The government bought a crap-load of Chrysler's as well. My first cruiser was a K-car. What a joke that thing was.
So much the same ?

Hey, I liked my K car, other than the Blown head gasket ! Lol

But our old Tuarus wagon didn't owe us anything either !
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Old 10-02-2012, 12:55 PM   #602
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Put a divider in it then try to drive it at 6'3" and 210lbs
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Old 10-02-2012, 12:58 PM   #603
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Default If I were Prez

If you were the President ,and you asked the Senate Leader to get a workable budget together, don't you think it would happen ?

And while I am thinking about old Harry Ried.
Why is it that he can throw ***** around just to see what sticks ? And nobody calls him on it ?
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Old 10-02-2012, 01:00 PM   #604
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Put a divider in it then try to drive it at 6'3" and 210lbs
Lol ! Seems you should have bought a Lincoln ?
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Old 10-02-2012, 01:07 PM   #605
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Lol ! Seems you should have bought a Lincoln ?
I didn't buy it. Taxpayers did.

Click the image to open in full size.


Looked like this but ours had a cage (divider).
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Old 10-02-2012, 01:42 PM   #606
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I didn't buy it. Taxpayers did.

Click the image to open in full size.


Looked like this but ours had a cage (divider).
Haha ! Now I understand !

Are you retired Air Force ?
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Old 10-02-2012, 01:44 PM   #607
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Yep
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Old 10-02-2012, 01:57 PM   #608
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http://www.collegehumor.com/picker/6...l-party-picker

I scored "Straight up ****"
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Do you ever sneak up on them and whip your caulk out?

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Old 10-02-2012, 02:00 PM   #609
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Yep
Cool ! Thanks for your service !

I have a Brother-in-law that will retire next year after 20 years !

Looking forward to that party !
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Old 10-02-2012, 02:41 PM   #610
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Originally Posted by my67falcon
The Chrysler Corporation Loan Guarantee Act of 1979 let them go bankrupt without having to actually go through it. Kind of a quasi-bankruptcy. Creditors sucked up big losses as MoPar paid off debt at less than 1/3 what was owed. Then they laid off about half of their employees. It showed a profit by 1983 but then the losses from '79 - '82 assured an almost 0 tax burden for years to come. They used loss carryforward to make up half of their profit so they would looked better on paper.

They also cut deep into R&D and the UAW made concessions. They continued to re-badge foreign cars and their new K models were left basically unchanged for years. The government bought a crap-load of Chrysler's as well. My first cruiser was a K-car. What a joke that thing was.
To go along with the part about the gov't buying alot of Chrysler cars back then. The same is true today for GM and Chrysler. Last week, about 20 US gov't vehicles were here at the college for who knows what reason. The interesting thing was, they were all newer model GMs and Chyslers. Not a single Ford. Not a single Volt. Food for thought...
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