Chrysler files for Bankruptcy?

Question 1
Chrysler files for Bankruptcy?...  Is this the start of the next Great Depression? We were told this was not an option, apparently it is. Should we have let this happen a few months back?

Answers
1)   bankruptcy or chapter 11 protection stuff - Guy

2)   GM got bought out by the U.S. Government. Chrysler got bought out by Fiat which is basically a proxy for the Italian Government. Chrysler will continue to stay in business but as a much smaller foreign owned company. It was previously owned by Daimler which is heavily subsidized by the German Government. - Michelle Obama's Hair Gel

3)   WASHINGTON - After months of living on government loans, Chrysler finally succumbed to bankruptcy Thursday, pinning its future on a top-to-bottom reorganization and plans to build cleaner cars through an alliance with Italian automaker Fiat.

The nation’s third-largest car manufacturer filed for Chapter 11 bankruptcy protection in New York after a group of creditors defied government pressure to wipe out Chrysler’s debt. The company plans to emerge in as little as 30 days as a leaner, more nimble company, probably with Fiat as the majority owner. In return, the federal government agreed to give Chrysler up to $8 billion in additional aid and to back its warranties.

“It’s a partnership that will give Chrysler a chance not only to survive, but to thrive in a global auto industry,” President Barack Obama said from the White House.


If GM files for bankruptcy protection in the U. S., it will also likely do so in Canada, said a Canadian Auto Workers economist.

Jim Stanford said a filing in both countries would likely result in a temporary shutdown of some GM plants, possibly including operations in St. Catharines.

A General Motors Corp. bankruptcy filing seemed inevitable south of the border after a rebellion by its bondholders forced it to withdraw a plan on Wednesday to swap bond debt for company stock.

In the U. S., GM would file for Chapter 11 under the country's Bankruptcy Code. In Canada, GM would seek debt protection as it reorganizes under the Companies' Creditors Arrangement Act (CCAA).

"Assuming GM files for protection in the U. S., it's then not known whether they will also file for CCAA in Canada," Stanford said.

He pointed out that Chrysler filed for Chapter 11 recently, but not its equivalent in Canada.

However, "in GM's case, most people think they will also file for CCAA protection," Stanford said. "There's bondholders in Canada who GM wants to give a haircut to and it's unlikely they're going to agree voluntarily to that."

GM has until Monday to complete a U. S. government-ordered restructuring that includes debt reduction, labour cost cuts and plant closures. But a Chapter 11 reorganization is likely after the company said its offer to exchange $27 billion in unsecured debt for 10 per cent of the company's stock had failed. GM has received $19.4 billion in U. S. federal loans.

Stanford said a U. S.-Canadian bankruptcy protection filing would likely have an impact on its plants.

"It would likely involve some ... temporary downtime of GM's facilities here," he said.

"'We don't know for sure and we don't know for how long."

Source: msnbc - since

4)   No, this is not the start of the next Great Depression, but we are in a dire situation. Chrysler filed for bankruptcy and now some reports say that GM is soon to follow. If GM files for bankruptcy protection in the U. S., it will also likely do so in Canada, said a Canadian Auto Workers economist.

Jim Stanford said a filing in both countries would likely result in a temporary shutdown of some GM plants, possibly including operations in St. Catharines.

A General Motors Corp. bankruptcy filing seemed inevitable south of the border after a rebellion by its bondholders forced it to withdraw a plan on Wednesday to swap bond debt for company stock.

In the U. S., GM would file for Chapter 11 under the country's Bankruptcy Code. In Canada, GM would seek debt protection as it reorganizes under the Companies' Creditors Arrangement Act (CCAA).

"Assuming GM files for protection in the U. S., it's then not known whether they will also file for CCAA in Canada," Stanford said.

He pointed out that Chrysler filed for Chapter 11 recently, but not its equivalent in Canada.

However, "in GM's case, most people think they will also file for CCAA protection," Stanford said. "There's bondholders in Canada who GM wants to give a haircut to and it's unlikely they're going to agree voluntarily to that." - preemption

5)   1.) We are in a recession for sure. 2.) The bankruptcy option was taken by both Chrysler and GM. 3.) Both have been through the legal process and are producing vehicles again, but on a smaller scale. 4.) The U.S. government has billions in loans and loan guarantees in both companies so it is in the best interests of both companies to produce vehicles that are competitive. - C-Tech


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Question 2
Question about a 2001 PT Cruiser?...  Today while driving my battery light came on. About 30 minutes later, the radio died, and the digital clock shut down. While I was nearing the end of my trip, my speedometer turned off, turned back on about 5 minutes later, then turned back off. Obviously, this is an electricity problem. My first impulse was to assume that I needed a new battery, but when I talked about it with my dad he thought it may be an alternator issue. I can't remember the last time I got a battery for the car, but I don't think it was too long ago.

Does anybody have any idea what might be wrong with my car's electricity?

Answers
1)   replace the batt today/do not wait - ken k

2)   Even with a dead battery, once it is running the alternator would supply enough electricity and you would not have these issues. It does sound more like the alternator is bad. - doane_nut

3)   Hello. I suspect by the description you have a bad alternator and without it, the car has been running on battery power only. You will probably need an alternator and to recharge the battery at least. Good luck. - C-Tech

4)   While the engine is running unhook the one battery cable , if the engine quits your alternator is not working. If it stays running your battery is shot. - DONNY G


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Question 3
Where do I put coolant in a 2005 PT Cruiser. My AC needs to be replaced, but until I save the money, my?...  mechanic will fill it with coolant for me now and then. It costs a fortune everytime I go. I would like
to try to do it myself, if I can?

Answers
1)   It is not terribly expensive to buy do-it-yourself recharge kits from auto parts stores but be aware they can easily lead you to overcharge the system and destroy the compressor. It is not legal (EPA rules) to recharge a leaking system, either. Unless the compressor has to be replaced already it is better to just leave the system off until you can get it fixed. - Michael

2)   Are you talking coolant as in radiator? Or refrigerant Coolant as in Air Conditioning? Radiator coolant fill location can be easily determined from your owners manual. AC refrigerant is something you need to be careful with. There is a less expensive method for recharging AC refrigerant, You can go to an auto parts store and get a do it yourself kit. The store will sell you the refrigerant and rent you the recharge kit. They should even show you how to do it. Once you've done it, it's really pretty straightforward. I'm not sure where you are, but someone like NAPA, Pep Boys, Auto Value or the like is your best bet. - Captain Roy

3)   You mean an a/c recharge?

http://autorepair.about.com/od/regularmaintenance/ss/AC-recharge.htm - Theneelster

4)   If your talking about topping up freon that is a no no. Your mechanic should know better they can face a a super fine of $10,000 if they get caught topping up an AC system. Your mechanic should put a tag on the AC system stating it is not to be refilled until it is repaired. One part freon destroys 100,000 parts of the ozone when released to the air. Help save the planet. - DONNY G


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Question 4
What is your opinion on a Chrysler?...  It can be about any model that you have owned, i just want to know if you liked it, if it broke down all the time, was it expensive to repair, etc.

Answers
1)   I own a 05' T & C and i have had it nickle and dime (hundreds actually) me to death. lucky i can fix most of the problems. i would avoid Gen 4 Chrysler minivans all together. My inlaws have the same year and have almost the same problems. Sliding doors stop working, Rear windows explode out, blower controls stop working, AC problems, window controls go bad, Instrument panels go dead, ABS sensor problems, EGR problems, and Tire pressure sensor problems. Nothing was less than $200 to fix. all this with less than 85K miles. - danlarson91

2)   I own an 2007 PT cruiser. Love it. No problems. I bought it used in 2008 - chris c

3)   I do my own maintanence and have owned many chrysler products, mostly trucks for over 30 straight years, and was only laft stranded once when some of my offroad hijinx busted a transfer case. I think if you take good care of anything nowadays, you will be fine. - done wrenching


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Question 5
How do you demagnetize a seat belt in a 2001 chrysler sebring?...  I wrecked my car and my airbag came out. Now my seatbelt won't work

Answers
1)   simply rub a magnet on it until it becomes demagnetized - Michelle Obama's Hair Gel

2)   The seat belt retractor has a tightening devise which deploys with the airbag to snug the seatbelt during impact. Like the airbag it's a one time use part and must be replaced after deployment. You need a new seat belt assembly.

By the way. What made you think it was magnetized anyway?

Best of Luck! - Dave

3)   There are specific items that are required replacement items when a deployment occurs or when an airbag light comes on...and there are some items that are "check only". Check out the websites below for the EXACT answers to your questions including fault code charts and reset information. This site tells you exactly what needs to be replaced and how to access them (seat belts & all) on over 3500 cars. It's a pay site ($14.95 / day), but it's little money well spent to get the correct answers and to see exactly what you're after...it uses pictures, not text, so you can see what you’re looking for.
This is the same website insurance companies and body shops use to determine what needs to be replaced.
Good Luck...it's not too bad of a job & if your state allows it, used parts or parts from ebay should be ok
Also, there's a page in this site that tells you which cars need a scan tool to reset the system and which ones can be done without it. - D G


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