PHOENIX — In yet another blow to the Motor City, Senator John McCain (R-Arizona) is predicting that Chrysler will not survive despite having been propped up by nearly $15 billion in government loans, according to media reports. He made the comments on Sunday while serving as grand marshal of the NASCAR Sprint Cup series race at Phoenix International Raceway.
"It was all about the unions," McCain said. "The unions didn't want to have their very generous contracts renegotiated, so we put $80 billion into both General Motors and Chrysler, and anybody believes that Chrysler is going to survive, I'd like to meet them."
Chrysler did not comment on McCain's prediction.
But as of early Monday morning, McCain had already turned his attention back to General Motors. Writing on his Twitter account, McCain said: "AP: GM reports $1.2B loss, says it shows progress. I'm not making this up."
McCain often weighs in with his thoughts on the dire circumstances in Detroit. "Chrysler finally filing for bankruptcy! Wish they would have done it months ago as I called for — could have saved taxpayers $26.7 billion!" he wrote on May 1 on his Twitter account.
McCain has been seen as a GM guy by such media outlets as the Los Angeles Times, which reported that he has owned a 1958 Chevrolet Corvette and a Cadillac CTS sedan. In comparison, the newspaper reported that President Obama is more of a Chrysler guy, having owned a Chrysler 300 before he turned it in for a more fuel-efficient Ford Escape Hybrid during the presidential race in 2008. Interestingly, McCain, too, is apparently a Ford owner, after tweeting in June that he had chosen a Ford Fusion Hybrid for his next car.
Inside Line says: McCain puts himself in the position of being able to say "I told you so," should Chrysler ever bite the dust. — Anita Lienert, Correspondent
Add A Comment »
jeannot23 says:
04:35 PM, 01/10/2010
Some things to consider:--
Chrysler car sales for December are over 30% higher than for November.
The Ram was named Truck of the Year by Motor Trend.
Chrysler will now have available advanced new engine and transmission technoloogy from Fiat/Lancia/Ferrari. Not to mention styling.
FULL DISCLOSURE: We own a 2004 Sebring convertible with 75,000 miles. And a 1996 Jeep Cherokee with 154,000 miles. Both cars look and drive like new. We love them both.
centrist says:
05:36 PM, 11/30/2009
Can Americans not focus any more? I have read ten comments on John McCain's comment that Chrysler is unlikely to survive, and only one comment addressed that subject! The other nine comments were personal attacks on McCain or comments about past history. Does anyone besides 1Kowalski have a prediction?
1kowalski says:
06:43 PM, 11/20/2009
mr. mccain, meet a guy who believes chrysler will not only survive but prosper. surely an auto expert like you can see that fiat is a good partner and will not let chrysler fail. unlike you, fiat will not hold back their new partner and will let them be themselves. you lost an election to the most unqualified candidate in our history. can your insight and judgement really be trusted?
hedstromswe says:
11:57 AM, 11/18/2009
Well Mr. McCain, you could have met me, but then I am one of the proud residents of the Great State of Michigan. Remember Michigan? The state you decided was a lost cause and didn't even bother to finish campaigning in. My greatest regret is that I voted for you anyway. Oh how I wish I could take my vote back. Chrysler's problems are not all the fault of the Union. Chrysler, like most American auto makers, counted too heavily on the SUV market and when it took a blip it sufferred. I say blib because nobody wants those small, fuel efficient foreign cars when gas isn't over $4 a gallon. Don't kid yourself, American car companies DO build cars that Americans want. Don't forget also that Mercedes destroyed the company, overcharging for every service they forced Chrysler to buy FROM THEM - essentially stealing the rainy day fund that would have seen them through the gas hike and credit crunch. Let us also not forget the 'divorce' from MB and the shortsighted Cerberus - who never had any intention of restoring the Great American Icon as it claimed - considering they hired a CEO notorious for almost destroying Home Depot. Why do you condemn them for asking for and receiving a Government LOAN which they fully intend to pay back.
Do not lump Chrysler and GM in with the banks. Chrysler's LOAN is far different from the Bank BAILOUT. The banks have issued no payback plans - they are not being micro-managed by the U.S. Treasury - the banks continue to pay sickening salaries and bonus' and have lavish parties AND on top of all that these banks then had the nerve to raise our interest rates without reason.
I encourage everyone who thinks John McCain is WRONG to go out and buy American, preferably Chrysler. That is what I intend to do. I want to see him eat his words.
cz75 says:
11:28 PM, 11/16/2009
Actually, this is one of those few times he said something I agree with.
davesuton says:
09:49 PM, 11/16/2009
Boy, McCain is the expert I look at for unbias information (sic)! He, and the "three Stooges" AKA Senetors Shelby, McConnell, and the other nut (I forget his name), must be really hurting from all the campaign promises they made to end American car companies existance. I mean, how can the southern import companies survive? Should we give them tax abatements? Wait, we already did that for up to 30 years. Should we give them more free land. Wait, we gave them that too. Should we give them free road improvements and promise to buy so many of the vehicles produced there on a no bid contract? Wait, we gave them that too. And still they are losing money?
McCAIN IS SUCH AN IDIOT! I can see why he has sour grapes. We sure would be much better off if he were President. Well, I guess HE would be better off. No so much for us with 3 milion more jobs eliminated if he were in power. This guy is dilusional
blh1181 says:
05:50 PM, 11/16/2009
Chrysler: McCain Unlikely To Survive.
cptmatt says:
04:41 PM, 11/16/2009
Thank you spokesperson for the Republican party. Its not the fact that Chrysler put all their eggs in the SUV basket and it tanked. Neither is that Mercedes gutted the company and ran off with the nest egg Chrysler built up. And you can't blame the fact they were sold by MB to a bunch corporate bone pickers and given a CEO notorious for almost deep sixing Home Depot. Or that, outside of the 300, Charger and Challenger, their automotive design department has made Chris Bangle look good.
No, according good ol' John McCain the whole problem is in the lap of the American working man and his union that had already done give backs and benefits and pay cuts to keep the place afloat. Yes folks, its all your fault for aspiring to living the life ol' Johnny does, secure and comfortable.
Maybe Sarah Palin was a good match for him.
milanista says:
02:24 PM, 11/16/2009
Ah yes McCain, that giant auto expert. Thank you so much for weighing in with your opinion based on a little more than the Metamucil you had for breakfast.
I really don't understand why so many politicians, journalists, economists and the like continue to beat down all of the companies the American taxpayers are essentially invested in. That is like recommending people buy Pepsi when you own Coke stock. Are you in this to lose money?
minibro77 says:
02:07 PM, 11/16/2009
Mr. McCain must like the taste of toe jam because I see him constantly putting his foot in his mouth. What is he thinking with comments like this? He's just as much part owner of Chrysler as you or I. Why would you speak negatively about Chrysler like this? People's employment and livelyhood are riding on the success of the new Chrysler LLC. I think Sergio Marchionne has the ideas and plans in place to make this work. McCain should be very careful with the words he uses.