Is Mitch Daniels playing politics, or looking for a stepping stone for 2012?
@thegreatdebater (7316)
United States
June 9, 2009 5:35pm CST
The Indiana treasurer appealed a decision by a lower court to allow the sale of Chrysler to go through. The Indiana treasurer (Richard Mourdock) is upset that the state pension fund would be considered a secondary creditor in the new company, potentially losing $42.5 million dollars. Mr. Mourdock, and Mr. Daniels both have supported the appeal that if approved would force Chrysler into liquidation costing the state atleast $20.7 in direct tax revenue PER YEAR, not to mention all of the tax revenue that they generate by spending money. So Mr. Daniels wants to try to get $42.5 million (which he might be lucky to get $20.7 that they would lose) from a company that makes the state atleast $20.7 million a year. Knowing that his acitons would destroy the company, eliminating $20.7 million a year in revenue. What do you think of this?
1 response
@sierras236 (2739)
• United States
10 Jun 09
I don't know is he looking for votes because he certainly would be supported by those secured creditors if they get a better deal. One also has to wonder how much of his personal assets are invested in Chrysler.
I am actually on the fence because I do think that the secured creditors got the short end of the stick. I understood that the whole purpose of being secured was you would eventually get your money back and that was a guarantee.
On the other hand, what if this is really the best deal GM could actually get? Isn't something better than nothing? Indiana already has a crisis on its hands and this economy is getting worse. I see unemployment above 10% by the end of summer despite what analysts say. The dealerships are already being closed now as we speak.
Finally, my biggest question of all. Is anyone going to actually buy a car from Chrysler?
