Chrysler 1979: Bailout News From Back In The Day With Music By Bob Seger

For whatever reasons those old enough to remember (I was 12 and remember Lee Iacocca coming in from Ford to lead the way. Yeah, back then failout CEOs got fired and sangre nueva was brought in.) the government bailout of Chrysler corp. in 1979 generally think it was a massive rescue.

It was $1.5 billion.  Triple that number to adjust for inflation and we're talking about $5 billion in today's dollars.  Miniscule.  Wouldn't even make the front page. 

This above video is a report from AP Radio about bailout old school.

And inside we have an ancient favorite from Detroit legend Bob Seger, hat tip to reader Old Man.

Comments

[DailyBail]

@GT 953 Sunny

I received your email but the email address you gave for responding does not work. I sent you a response twice and it was returned undeliverable both times.

[DailyBail]

GT sent me a message saying when he attempts to watch videos on the site it takes him to a login page.

Has anyone else had this kind of problem when watching videos here?

If so, please speak up so that I can work to solve it.

Thanks.

[spideydouble]

He's probably getting blocked because he is trying to access your blog from China, AIG, GS, Tim Geithner's Office, or a couple dozen other locations not on your fan club list. LOL

[Genevieve]

That was an interesting trip down memory lane.

It's hard to believe the amount was so small and yet it was the biggest news of the year practically. How far we've fallen.

[Bear]

"ancient favorite " ????? sheesh "ancient" my rear end.... ;-)

[DailyBail]

@Bear

nice comment. we're all getting old.

[DED]

At least Chrysler repaid that loan. I don't think that'll happen with the current crop of bailouts.

[Mortgage T&A]

@ded

Certainly not from Cerberus, the PE firm that owns the majority stake in chrysler. The will not repay a dime.

[raysonsmith]

Bad time going for the Chrysler Group. Check out the site for more product updates http://www.automobilebestbuys.com/autoblog/chrysler-limosines-best-world-class-limos.html