Chrysler Went Down and Came Back - Twice!
The Chrysler name has been under many ownership umbrellas and went from simply the Chrysler Corporation to DaimlerChrysler Motors Company, LLC. After filing for Chapter 11 bankruptcy, it's now the Chrysler Group, LLC.
Back in 1979 when Lee Iaccoca was still around, even though the U.S. Government offered up $1.5 billion in bailouts, Iaccoca was a smart guy and sold the K-Car like hotcakes, introduced the minivan and the rest was history.
The second bailout in 2009 which caused the Chapter 11 and massive dealership closures cost taxpayers around $1.3 billion, which will never be paid back.
The Italian auto maker Fiat now owns the largest percentage of this American company at 53.5 percent (they purchased the UAW and Canadian interests as well).
Who knows what lies in the future for Chrysler but many political leaders at top levels feel the restructuring was a success, especially since Chrysler sales were up in the second quarter of 2011 (+24.30 percent). Now if we could just get the horns on these new Chrysler vehicles to say ciao.