Link Love From The Car Connection: Money Makes The World Go 'Round Edition

April 22, 2009

No, you're eyes aren't deceiving you: we're posting two Link Loves in just one day. Why? Because we know your time is valuable. Yeah, sure, we could post individual, well-written research articles on every bailout-related news item that comes our way, but who has time for that? Life is better in bullet format, so put on your Kevlar and dive in:

  • Shady deal denied -- A group of lenders (e.g. Chase, Goldman Sachs, Morgan Stanley) unsuccessfully tried to sweet-talk the Obama administration into accepting new debt-reduction arrangement with Chrysler. Basically, they were angling to keep $4.5 billion of the $7 billion Chrysler owes them, and they wanted a third of the company's shares. If the lenders used tactics like that, maybe the feds wouldn't have had to bail them out, too.  [CNN]
  • Ford likes a heavy hand -- Bill Ford Jr. was shocked--shocked, we tells ya--to see Rick Wagoner forced out by the Obama team. On the other hand, he's thrilled to see the administration take such an interest in the future of America's automakers. Sounds like someone's found his submissive side. [Freep]
  • Take the gold watch -- The Wall Street Journal's loudmouth-in-residence, Holman W. Jenkins Jr., has come out swinging against the Obama administration's handling of the auto industry bailout. Some of his points are okay, but consistently referring to Obama as "King Barack" is (a) sloppy, (b) bludgeoning the point to death, and (b) kinda weird. Maybe it's time for a camper site in Florida. [WSJ]
  • Get out the vote -- Bad news: the polls will soon close on the "Worst Company in America" challenge. Good news: GM and Chrysler are both winning their brackets! Wait, is that good news? [Consumerist]
  • Light in the tunnel? -- On the bright side, Honda and Johnson Controls think the economy has bottomed out. And both GM and Chrysler have high hopes for the Chinese market. That all sounds great, but we don't believe anything until it's confirmed by people in the know.  [AutoNews 1 and 2, sub req'd; NYTimes; Edmunds]
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