Word: chrysler
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Sales results from August are raising doubts about Chrysler Group LLC's post-bankruptcy comeback and indicate that the ailing automaker is in for an agonizing wait of several months before aid from its new Italian partner, Fiat, can finally make a difference...
...Chrysler's bankrupt, and Pontiac's going bye-bye. GM's on eBay, claims its Chevy Volt will get 230 m.p.g. and boasts that a $4,000 compact is in the works. Volkswagen is merging with Porsche. TV car guys with names like "Dealin' Doug" are screaming about incentives this and rebates that. And the government's porky cash-for-clunkers effort is ridin' herd on gas hogs...
...these prickly issues on the main stage, with German Chancellor Angela Merkel promising as much as $7 billion in badly needed state aid to Opel if Magna emerges victorious, another drama is developing behind the scenes. Some of Magna's biggest customers on both sides of the Atlantic, including Chrysler and Volkswagen, may decide to move future contracts with Magna to suppliers who are not in the business of selling cars. (Read "Merkel Saves Opel from GM's Fate...
...solid financial ground despite reporting a loss for the first half of 2009, to grab a much bigger share of the $400 billion global auto-parts market. This is already happening as its biggest U.S. competitors struggle with bankruptcy as a result of the near death of GM and Chrysler earlier this year...
...without reform they'll devour one-third of our economy by 2040; the average family's annual premiums are on track to exceed $45,000 in 2008 dollars. They're already destroying businesses small and gigantic; unaffordable health-care liabilities are one of the main reasons GM and Chrysler went bust. And since half of all health care is paid for with tax dollars, these exploding costs are a fiscal, as well as an economic, nightmare. Medicare and Medicaid spending is on course to increase from about 5% of GDP today to about 20% in 2050 - the size...