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Old 12-14-2008, 06:38 PM   #1
XDCX
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Default Chrysler may run out of cash in January

News reports indicate that Chrysler is running out of cash and will have trouble paying their bills in January if they do not receive a Bridge Loan.

While many news reports cite an "un-named individual" this information comes directly from Chrysler's CFO, Ron Kolka.

Here's a link to the news report: http://www.google.com/hostednews/ap/...8Pn1wD950US9G0

What happened to the days when Nardelli kept telling everyone that "Chrysler was meeting or exceeding all of their internal targets"?

How did it get so bad so fast?
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Old 12-15-2008, 08:17 PM   #2
SHACOS
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Cerberus decided they were no longer going to use any of their cash on Chrysler. That's how it got so bad so quickly. Oh, and 30 years of bad business practices too.
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Old 12-16-2008, 01:10 AM   #3
XDCX
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Quote:
Originally Posted by SHACOS View Post
Cerberus decided they were no longer going to use any of their cash on Chrysler. That's how it got so bad so quickly. Oh, and 30 years of bad business practices too.
I'd agree with the Cerberus part, but I still remember when Chrysler had so much momentum that it looked like they were going to knock off Ford and become the second largest OEM in the U.S. And it wasn't that long ago - 1998 or 1999.

Something has to happen with Chrysler in the short term - there's no way the current business structure will survive through 2009.
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