Not sure this is necessarily a bad thing in and of itself, but CNBC is reporting that Chrysler hired a bankruptcy firm a couple weeks ago.

Jones Day is the firm (or the person handling the account, CNBC was not clear on this).

 

Jones Day is the FIRM. Corrine ? is handling the account.

 

Once they file bankruptcy, they are no longer obligated to do any warranty work and get to wipe the slate clean.

 

Oh, That's just great, and I'm sending Daimler-Chrysler 161.00 per month for the extended warrenty. Now What?

 

At least you didn't pay for it all up front! Good move. I suspect all the Big Three have firms that are "on call" for any potential bankruptcy. If they didn't they should have. This info may help spur the congress to get the loans to the automakers sooner. We can hope. I have warranty left on mine too!

 

While filing bankruptcy may be a good move to reconsolidate and restructure the company, abandonment of the Warrentee contracts would be a bad PR move. I doubt they could overcome the stigma and it would hurt future sales such as to make recovery impossible for Chrysler.

How many remember? The New York Daily News ran Iacocca'spicture with the headline "WOULD YOU BUY A USED CAR FROM THIS MAN?" It seems that chrysler employees at the St Louis plant, were routinely taking cars out for test drives. A regular practice by the big three. But, with the odometers disconected and an occasional case of minor repairs, it was turned into a major fraud scandal by the US atty's office here in St Louis.

Ethical or not the practice had Chrysler in the crosshairs, just as they were becoming succesful. Lee saw it a serious threat to the company's reputation. One it wouldn't get over. He offered to buy all the cars back, or replace with new comparable models and extend the warrantees on any of the suspect cars for two years. When the bean counters told him that was overboard Lee responded, " Hey, at times like this, don't quibble."

Later he added "A company can only exist as long as the public is satisfied with it's performance, and the public is (sic) telling us it didn't like what we'd done."

If Chrysler uses the courts to get out of an oblibgation to it's vendors and it's labor contracts, the company will survive. If it does so to the customer, they won't sell another car.

Lee, where are you when we need you?


roadster with a stick

 

It sounds like posturing to me. They're just making it look good for Washington.

 

i will never buy another chrysler product as long as i live.
if the drop the ball on the warranties..........bad enough they chit on
us with the crossfire................................


found this

Chrysler on Friday said it hired the prominent bankruptcy law firm of Jones Day to help study whether bankruptcy would be a better option than government loans. The firm was hired after lawmakers asked for a study during congressional hearings in November, spokeswoman Lori McTavish said in a statement.

"The results of this evaluation determined the impact to the overall domestic automotive industry would be devastating," the statement said.

 

I ask the business manager at my local dealer (who owns a Crossfire with an extended warranty) about all of this last week and he said that the extended Chrysler warranty is actually set up through a third party and wouldn't be affected. I hope he is right since I just spent $1300 for mine 3 months ago!!!

 

Mine is through a 3rd party. I'm safe.

Les

 

yep, usually warrantys are held by 3rd parties just because things like this can happen, and this isn't the 1st time for Chysler to go belly up...I had problems w/ them back in the 70's on a Dodge truck...

 

OOH...

If they drop warranties then maybe I can score more maintenance business!

Other then that, this is not a good thing.

 

Anthony you are a dog.
How was the ICS?
What new speed mods do you have for me?

 

I'm still at the show until tomorrow.

Here's a sneak pic at what is to come:

 

Let me know when you want to give mine a once over ....

Do you do cupholder work too? lol

 

Looks like I'll be selling a slightly used SL55 intake soon.

I was looking at those driving lights yesterday. They look like a good spot for air intake ports, definately in the air stream, tubing would have to go up to be inline with the intake, so water would backflow thanks to gravity. I've been following the release of the Needswings intakes. What's your take on them?
Can you reccomend another dyno? I am still unhappy with the numbers we got, especially after all of your work and $$ we have in it. I am very happy with the performance.
But the dyno and the track are the real prooving grounds.

 

Quote:

Originally Posted by TVT_DESIGN

..Here's a sneak pic at what is to come:

Very nice, TVT_ DESIGN.

Centrifugals ftw!