McCain Gives Thumbs-Down to Chrysler
“It was all about the unions. The unions didn’t want to have their very generous contracts renegotiated so we put $80 billion into both General Motors and Chrysler, and anybody believes that Chrysler is going to survive, I’d like to meet them.”
So goes Senator John McCain.
The Arizona senator spoke to The Detroit News while attending a Phoenix racing event. McCain’s grim prediction comes amid the continually declining state of the Chrysler brand and dismal words for CEO Sergio Marchionne’s business plan.
McCain went on: “We see the automotive industry, and my heart goes out to the citizens of Detroit, really in the tank, and yet we have manufacturing plants all over the South, which are not bound by some of the labor rules and contracts that make them non-competitive.”
Image courtesy of Caricature Shack.
Fiat Begins the Chrysler Shakeup
After months of wrangling, a deal has been reached for Fiat to acquire Chrysler. A brief delay from Justice Ruth Ginsberg of the Supreme Court was overcome, with Chrysler proceeding to exit bankruptcy as soon as next week.
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