Ferrari Mailing List: Re: More

[Brian E. Buxton (BrianBuxton]

Yes the State of IN wants liquidation so they don't get screwed by 
Chrysler an the US Govt. on the bonds.  But liquidation means Fiat 
doesn't buy Chrysler and Chrysler most likely no longer exists.  So 
that's bad for the US Govt, Fiat, etc.  Nobody wins either way.  And no 
I wouldn't want to be a part in any of that.  This scenario and tumbling 
resale values is one reason I sold my 08 GM 2500HD diesel truck last 
Oct.  It was $52,000 new and I got very high $30's out of it with 6K on 
the odo.  That was enough!

Brian





cavallino_rapante [at] yahoo.com wrote:

> This doesn't make sense.....the reports I read indicated that secured 
> bondholders WANTED the company to go into liquidation, so they could 
> recover more money for their investment (as pieces of company equity 
> are sold-off to satisfy debt obligations) than if the company went 
> into Chapter 11......this report would indicate the opposite?
>  
> Either way, I don't see how anyone 'wins'.....would you buy a car 
> affiliated with this mess?  Neither would millions of other Americans, 
> I don't think.
>  
> M
>
> --- On Tue, 5/26/09, Brian E. Buxton 
> <BrianBuxton [at] BuxtonMotorsports.com> wrote:
>
>
>     From: Brian E. Buxton <BrianBuxton [at] BuxtonMotorsports.com>
>     Subject: [Ferrari] More
>     To: "Michael" <Cavallino_Rapante [at] yahoo.com>
>     Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
>     Date: Tuesday, May 26, 2009, 2:41 PM
>
>
>       Chrysler: Bankruptcy Objection Could Mean Liquidation
>
>     Michigan-based Chrysler LLC says meeting the demands of Indiana
>     Treasurer Richard Mourdock's objection to bankruptcy proceedings will
>     lead to the company's liquidation. Mourdock filed the objection
>     based on
>     Chrysler's proposal to pay secured creditors 29 cents on the dollar,
>     which would affect three state funds. Chrysler notes its debt to the
>     funds make up less than less than one percent of their assets and the
>     loss would be significantly more if the company is forced into
>     liquidation. Indiana Congressman Joe Donnelly (D-2) says Mourdock's
>     objection could result in the loss of more than 5,000 jobs in Kokomo.
>     Read More
>     
> <http://click.news.growindiana.net/?ju=fe2e15777465067f7c1175&ls=fe2517727d6d067a711675&m=fef8107070620c&l=fec916747163067e&s=fe5c1175726504747017&jb=ffcf14&t=
>     
> <http://click.news.growindiana.net/?ju=fe2e15777465067f7c1175&ls=fe2517727d6d067a711675&m=fef8107070620c&l=fec916747163067e&s=fe5c1175726504747017&jb=ffcf14&t=>>
>
>     Mourdock outlined his position in a recent conversation with Inside
>     INdiana Business Host Gerry Dick.
>
>     -- 
>
>     Brian E. Buxton, President
>
>
>
>     Buxton Motorsports, Inc. <http://www.buxtonmotorsports.com
>     <http://www.buxtonmotorsports.com/>>
>
>     301 North Royal Ave.
>
>     Buxton Plaza
>
>     Evansville, IN 47715-2866
>
>     (812) 476-2281 x 209 office
>
>     (812) 760-5513 mobile
>
>
>
>     Member ThaList.com <http://www.ThaList.com <http://www.thalist.com/>>
>
>
>
>     President, Brian Buxton Enterprises, Inc.
>     <http://www.buxtonmotorsports.com/storage-transportation.php>
>
>     Nationwide Enclosed Auto Transportation
>
>
>
>     Founder & Past President
>
>     SO. IN Region PCA
>
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--

Brian E. Buxton, President



Buxton Motorsports, Inc. <http://www.buxtonmotorsports.com>

301 North Royal Ave.

Buxton Plaza

Evansville, IN 47715-2866

(812) 476-2281 x 209 office

(812) 760-5513 mobile



Member ThaList.com <http://www.ThaList.com>



President, Brian Buxton Enterprises, Inc. 
<http://www.buxtonmotorsports.com/storage-transportation.php>

Nationwide Enclosed Auto Transportation



Founder & Past President

SO. IN Region PCA