GM and Chrysler steer different paths to recovery

http://www.ft.com/cms/s/0/f272f1fe-88f5-11de-b50f-00144feabdc0.html?nclick_check=1

Detroit’s two embattled carmakers, General Motors and Chrysler, have been a study in contrasts since their emergence from court-supervised restructurings in recent months.

The “new” GM has galloped out of the gate with a slew of announcements on management shuffles, new vehicles and other initiatives. Meanwhile, Chrysler has been relatively silent apart from run-of-the-mill sales promotions.
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Apart from some retirements and job reassignments, GM’s senior management is little changed from the pre-bankruptcy days.

Chrysler’s top team is unrecognisable from the group that led it during the 22 months it spent under the control of Cerberus Capital Management, the New York buy-out firm.
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“Almost every chair is filled by a new individual – either from outside the company or from inside the company who has moved up,” Ron Bloom, the senior member of the Obama administration’s automotive task force, said at last week’s conference in Traverse City. “They are going about the business of reinventing the company.”
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Mr Robinet put a different spin on Chrysler’s position: “They have a sum of money that’s been dumped into their bank account, and that’s it. This is a one-shot race to become profitable before the funds run out.”

I voted for Mike Gravel in November because Senator Obama supported the bailouts just as much as Bush and McCain.

"In 1998, Chrysler had $13 billion in the bank (over twice what they were begrudgingly loaned by the Washington hypocrites) for a rainy day, and the pension funds were fully funded. The merger debacle was shepherded by the SEC, the same folks that missed the $50 billion-20 year Ponzi scheme."
<http://www.allpar.com/ed/inside-CTC-2009.html>

and I don't work for an OEM either.

I thank Obama everyday for that bail out.