Sunday
Mar082009
« 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.
Sunday, March 8, 2009 at 9:52PM
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Reader Comments (8)
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.
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.
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.
nice comment. we're all getting old.
Certainly not from Cerberus, the PE firm that owns the majority stake in chrysler. The will not repay a dime.