If the Chrysler bailout several years ago was such a success, why are they back for another handout?

The Chrysler bail out of twenty eight years ago was a unique situation that was handled in a unique way. Lee Iaccoca and his executive management team agreed to take $1-per-year salaries until the loan was fully repaid.

The only reason you see such sacrifice today is that the GM, Ford and Chrysler execs have now realized it's the only way to save their companies. The 'big three' have done nothing in the past thirty years to improve their products, manage their companies better, or survive in a more competitive marketplace. Toyota, Honda, Nissan and other 'foreign' auto manufacturers can build cars in their U.S. plants profitably because of lower wages for assembly-line workers - and, in large part - because of the lack of a corporate culture that only serves to provide obscene wages to the upper echelons while doing little to create innovative products (honchos at Ford, Chrysler and GM think "innovation" means tacking on a new, plastic, glow-in-the-dark hood ornament).

Instead of more corporate welfare checks, our government should let the 'big three' go bankrupt, then divide up the scraps, loaning money to small groups of investors who would truly create new, innovative products. Maybe a small group of investors could buy the Buick Division for pennies-on-the-dollar and develop a car that will last for 250,000 miles and get 250 mpg. Perhaps a small group of investors, backed by a government loan, could build a Ford pickup truck that runs on compressed air. Or, maybe a small group of investors could borrow money from the government to create a 'commuter' car that actually links to mass transit, saving commuters huge amounts of gasoline and minimizing rush hour congestion.

GM, Ford or Chrysler have not shown such initiatives. Perhaps it's time to let the fat cats fend for themselves, or die trying.

Yes, it would be painful for millions of American workers, but we'd survive, just as resilient Americans always have. And we might come back a stronger, more economically sound nation ready and able to compete in a more competitive global market. -RKO- 12/08/08

It was 29 years ago (1979). Chrysler paid the money back with interest. YEP the US government actually made money off the proposition.

The comparison is moot. With that much time passing, we might as well ask about the sales of the 1931 model A Ford compared to a 2009 Chrysler Viper

Chysler got a loan it paid back before its timeline with interest. Lee IIa Coke (Spelling is off) took over in the eighties and Chysler cranked out new and exciting vehicles like the minivan and k-car series. Ok, not anything that will smoke the tires, but decent economical cars that were affordable. In a depressed market, that is important to buyers. By the way, they invented the minivan during this period.

it was not several years ago ..it was 20 years ago. That was one company that needed to be turned around. This situation is a macro economic scenario where the entire country is tethering at the edge of a depression.....and the auto makers just like all businesses have been adversely impacted....yes they have had bad management, but so have all those other companies that have gotten bailed..

Poor management....at the top....too many jets. lol