Wednesday, April 29, 2009

Congrats! You May Own Chrysler!

Drudge reports/WaPo:

If the bankruptcy proceeds as expected, the administration would create a new Chrysler that would purchase assets of the old company. The ownership of the new company would be divided between the union's retiree health fund, which would get a 55 percent stake, Fiat, which would get at least a 35 percent stake, and the United States, which would take an 8 percent stake. The Canadian government would receive two percent

And there are some loans that Chrysler will repay to the Treasury, maybe.

It's the plan, folks. Next: GM becomes yours, too!!


Paul, just this guy, you know? said...

Cool! When can I pick up my LeBaron?

Anonymous said...

LeBaron? Come on, you're aiming too high. The Volare is making a comeback, only without the bulletproof Slant-6.

Billiam said...