Chrysler, R.I.P.
The demise of an iconic American automaker.

As Chrysler commemorated its first anniversary under the ownership of private-equity player Cerberus Capital Management this summer, CEO Bob Nardelli issued a five-page letter to rally the troops. After all, things hadn't really worked out as Cerberus expected when it paid $7.4 billion to take Chrysler off Daimler's hands in 2007. Rather than "restoring an American icon," as Cerberus chairman John Snow declared back then, Chrysler sunk even further into the muck as gas prices soared and showroom traffic came to a standstill. Chrysler's guzzler-heavy lineup of SUVs and trucks did worse than most, with sales plummeting 25 percent and profits nowhere to be found. Still, Nardelli, once an acolyte of GE's Jack Welch, oozed optimism when he closed his long letter with these words of encouragement: "Chrysler may be down, but we're a long way from out. It's time for us to prove the naysayers wrong with another one of our patented comebacks!"

But it looks like Chrysler has run out of comebacks. Shortly after Nardelli wrote those words, Cerberus entered talks with General Motors to unload its Motown mistake. Despite reports of an impasse, a deal still appears to be just around the corner

Boy, that is tough. I thought GM may combine with them. It sounds like that is not going to happen, instead they are going to kill it.

If that is true, that is a sad day for this country.

The article is a very good read...and something that I never thought about if domestics go under:

Wow...major ramifications across the car industry! I was a lukewarm supporter of the GM bailout plan before, but after reading this article, i am a definite supporter now!

And, of course, being a citizen of this amazing country, i just cannot imagine this country not having a Ford or Chevy brand.

A bailout, maybe, but I don't like the idea of giving up on Chrysler. They must have close to 30 models out there, some of them fairly new. I like the Pacifica and the Patriot. There are so many new ones, the Compass, Aspen, Caliber,Nitro and lets not forget the old but super neat Viper.

Peter, my eyes got watery as i read the above article and then your post...then i found this on Edmunds, which dried up what little tears i had for Chrysler:

DETROIT

IMHO, we need GM and Ford because they are deep rooted American companies...i don't care too much about Chrysler which lost its ways when Mercedes bought it just little over 10 years ago.

Personally I could not disagree with either of you any more than I already do. This is a capitalist, "free" economy and if you cannot swim then you will, and should sink. I have no compassion for any company, especially corporations. Maybe I am just bitter after seeing what a company considered an "American Icon" did to my father after 20 years of service, but rest assured that these unsuccessful corporations do not have any sense of loyalty to people in general. Their loyalty is to the almighty dollar and the opening of factories and call centers in developing nations is solid testament to this statement. The article was right on when mentioning that Chrysler had "lost its way". Sidetracking a bit here, but who the hell considers the PT Cruiser a "hot model"? WTF? The loss of American jobs amidst our current economic situation is unfortunate but these are the things that define a poor economy. Personally I will not miss Chrysler and its myriad substandard products that span decades.

:soapbox: Stepping off now

I recall a visit to the Ford Dearborn plant a few years ago. The celebration was for the 100 millionth car coming out of that plant. The factory and railroad yard are miles across. Never seen anything even close.

Yeah, i can see your points. I don't know anymore...i just hate to see America without these brand names.

The big three made their beds and now have to sleep in them and I have very little compassion for them at this point but I would like to see Ford and GM survive since they have a chance but Chrysler has never done anything for me and have never owned their products so makes no diff to me.

All those Jeep owners in your neck of the woods will now have to buy Toyota FJs and 4runners!

Well ok,there would be a loss of an american off road icon that would be bad.

Hmmm...where will I take my Jeep for it's "lifetime" powertrain warranty?

Junkyard??

LOL, I guess you're right. As my dear ol' grandpappy used to say: