Separate names with a comma.
Discussion in 'Washington State' started by mikelet, Apr 30, 2009.
Any word on what will happen to the Viper since Chrysler in now in Chapter 11.
The bankruptcy court valued it at 10 cents on the dollar and PartsRack bought it.
I am seeking investors (so that my check won't bounce)...........
Mike, as a past multiple-time valued customer I can let you in on the ground floor.
Hey JonB - Does that mean that new cars can come with aftermarket parts from partsrack now?
YES, of course, yeah, that's it. But I need DEPOSITS, ASAP. Cash preferred.
Ill build em any way you want em, until my check bounces or the feds STOP ME.
LOWER PRICES, TOO! How? NO: Emissions crap, crush zones, crash testing, sound restrictions, head-impact technology, anti-rollover fuel filler, dealer middlemen, union pensions or wages or benefits, or vehicle warrantees, etc etc. We can build em CHEEP.
PYRAMID VYPERS...we cheat the other guy, and pass the savings on to YOU....
I'll take two Jon!
Those guys from O-HI-O just don't get it.
I'm sure glad I live on the LEFT coast!
I'm serious ... anyone know what the future of the Viper is going to be? Shall I sell mine while the going is still good?
You don't love your car?
Keep your Viper as many believe that they are currently at a low that (hopefully) won't be repeated again. Both the UAW (now majority owner of Chrysler) and Chrysler themselves have said that the current Viper plant (CAAP) is scheduled to be open through 2010. They are still in active discussions with different parties to purchase the Viper platform outright.
The bottom line is that nobody seems interested in letting it die. Even the great Jack Roush (Roush Racing, etc.) said, "I wouldn't say that if it was going to hit the ground that I wouldn't snatch it before it got dirty." So stay tuned and hold on to that Viper!
Another thread had a new Chrysler announcement from today that says Conner would close Dec. 2009.
Since it was always 2010 before, I'm into conjecture that means a deal is really close!
Also Big Bob is very busy and Lee is too......Hmmmmmmmmmmmmmm
But then....I know nothing....
is CAAP currently open or closed???
As a note all bankruptcy documents are available to the public. Here is a paragraph specific to the Viper. From Docket #190 exhibit A. You can find all such documents at www.chryslerrestructuring.com. This should provide some insight as to the expected timetable of a sale, at least as initially proposed.
Section 2.15 Viper. (a) Subject to Section 2.15(b) below, notwithstanding any
provision of this Agreement to the contrary, (i) Seller may, at its option, sell Intellectual Property
and Purchased Inventories that relate solely to Vehicle Production (as defined in the Transition
Services Agreement) and are not necessary or useful in any other line of business (the “Viper
Assets”) prior to the Closing Date in an arm’s-length transaction to a party other than Purchaser
on terms and conditions reasonably acceptable to the Purchaser, provided that the right of the
Seller to sell the Viper Assets shall terminate on June 8, 2009 if no binding written agreement to
purchase the Viper Assets has been executed and delivered by a bona fide purchaser at such
time, and (ii) in connection with any such sale, Seller and Purchaser, as applicable, shall grant to
the purchaser of the Viper Assets on terms and conditions reasonably acceptable to the Purchaser
a non-exclusive license of other Intellectual Property of the Seller necessary for Vehicle
Production as currently conducted. The Purchaser shall at the request of the Seller work in good
faith to facilitate such sale. If the sale of the Viper Assets is consummated prior the Closing
Date, the Seller shall receive in trust for, segregate and convey to the Purchaser on the Closing
Date all right, title and interest in the proceeds of such sale, which proceeds shall constitute
Purchased Assets for all purposes of this Agreement. If any commitment to purchase the Viper
Assets is made prior to the Closing Date, but not consummated, the Purchased Assets shall
include Seller’s right, title and interest in the Viper Assets and in any agreement evidencing such
commitment and any related or ancillary agreements entered into in connection therewith.
(b) Purchaser may at any time elect by written notice to Seller that it
elects not to acquire some or all of the Viper Assets (or agreement or proceeds of sale) described
in Section 2.15(a), in which case such Viper Assets (or agreement or proceeds) shall constituteExcluded Assets.
Thank you GR8 ASP. Good data. It looks like the bottom line is that if a deal is not done by June 8, the new Chrysler can take the Viper assets or leave them in the old Chrysler shell as they choose. I hope that a deal is done by June 8. Let's keep our fingers crossed.
Bob there are oodles of pages for your inquiring mind. Most contained within just a few of the docs of course. Your assignment is to read through it all and give us the scoop, so to speak. You might find docket 379 to be of interest as it contains the information on the so called non TARP lenders.
Lots going on behind the scenes right now. I'll bet the sale of Viper is announced before the deadline.
You might also find docket 197 interesting. Especially item 9 in the DIP presentation. Looks like we have a 2 week "vacation" coming soon. Note the entire cash flow summary is in docket 52 for those MBA wizards (oops that is supposed to include me).
Some interesting stuff buried in there... The valuation of the Viper Enterprise (based on recent sales) is between $25 million and $41 million. Not a bad price...
Don't tell JonB that the price is so cheep!
Dont Tell ME? Heck, Im one of the folks the bankruptcy court asked to get an evaluation of the parts!
And Jun 8 is a significant date in Viper trivia-history anyway......
Suspense is killing me!!!
The suspense is killing me, too. If the whole Viper enterprise goes at the top of what they estimate it to be 'worth' that's less than pocket change in the car world. I'm surprised a new owner hasn't jumped all over it - talk about a low risk way to get into the supercar world. I'd bet that the R&D costs for the Gen3 and Gen 4 platform alone was in that price range.
Sooo ... any news on the status of the Viper? Will it remain with Chrysler or will it be sold to ???
As of the close of business Friday, the status was as follows.
1. The Master Purchase Agreement included the Viper assets.
2. This means that subject to the Appeal of Indiana, et.al. being successful, a proposition which is doubtful, the Order of the Bankruptcy Court approving the MPA and the sale of the "purchased assets' from Old Chrysler to New Chrysler will stand and the Viper Enterprise will be owned by the New Chrysler.
3. The New Chrysler is obviously confident of the result because orders for new Vipers have reopened as per the post of Bill Pemberton from Woodhouse.
4. Per the union contract that existed before the Bankruptcy, the CAAP was to shut down in 2010 but that contract is no longer in existence. I would not take any comfort in that fact since I doubt that there is any obligation at all to keep CAAP open under whatever union agreement came out of the Bankruptcy unless someone can point same out to me.
5. Will the New Chrysler be willing to keep the Viper alive either as a line or as a separate entity owned by others? At this point it is anyone's guess. The letter from the Congressman is interesting regarding the prior preBankruptcy offer but, in the over all scheme of the economic reality of Chrysler, unfortunately, the Viper Enterprise is probably viewed as immaterial. I do not see the Court holding up New Chrysler over the alleged incident.
6. There are still a number of Federal certifications required for a 2010 Viper that, as of the last posted discussion of the subject, have not been obtained. So, if that is the case, after the current run of 2009 Vipers is done, unless those certifications are obtained, the Viper would be done anyway. If someone has more current data about the 2010 certification issues, please post.
The above constitutes my observation and opinion and nothing more.
News story on Monday reported that CAAP was the first plant scheduled to re-open.
According to one report the Viper is still alive.
Dodge Viper assembly plant first Chrysler facility to restart after bankruptcy?
Other reports indicate that the Viper is Dead.
In Viper Magazine, summer 2009, that showed up at my house a few days ago, there are two quotes worth posting here....
First, in the letters to the editor section, there is a letter asking:
"I heard the Viper plant is operational. That's fantastic! It's music to my ears." To which, the editor replies: "It's true, Conner Avenue Assembly is up and running. The first car produced by the new Chrysler Group LLC was a Dodge Viper. -Ed. "
And the second, from the Ignition column by J.R. Thompson President Clay Thompson, "Chrysler continues to build Vipers as we anxiously wait to know the fate of Viper. ".
Get your orders in now!