The extraordinary state of the bankruptcy filings bypassed any standard claims, hived off debt that the original company agreed to take, and left a whole lot of creditors without real recourse in order to allow shareholders to move forward with the new entity. You can call pensions burdensome and others 'nonsense', but if management was bone headed enough to enter into agreements they could not afford, there should have been a fair hearing into allowing all of the creditors who were shoved into Old Carco to get their share of the new entity.
They didn't and that's a bailout.
They didn't do anything illegal and bankruptcy is part of the law. As a creditor you should be well aware that there is a risk that some or all of your principle may vanish should the company become insolvent. A bailout is not a normal part of any business process, nor is it part of law. Bankruptcy is an option for businesses and individuals alike, because things change and sometimes the bubbles burst and things stay bad for a long time - kinda like now.
I doubt the UAW is the sole reason why Chrysler's can't or won't flourish...contrary to that statement the company is doing quite well in some segments. Only the feeblest of minds would attribute the success or failure of a multi-billion dollar company to one issue.
Chrysler is doing pretty good, all things considered, but I wouldn't say they are flourishing. Only the feeblest of minds would infer that me stating the UAW played a large part in Detroit's demise was the
only issue.
If you don't even see the effects of global climate change either, well then, there's really no helping you.
Oh, I do see the effects of global warming in the form of bogus legislation from the EPA, things like a gas guzzler tax that pays for tax-subsidized electric cars that are less efficient than the gas-powered cars they're supposed to replace...the ever-nebulous demand from liberals for "sustainability", yet they can't even sustain themselves and rely on social programs to prop their incompetent asses up throughout their lives.
Bottom line is that the C7 is ugly and I already own 0.0999% of all of them. Are there making an electric hybrid diesel version?