Lotsa chatter about GM. But DID YOU KNOW;
CHRYSLER's Un-Doing
Lee Iacocca brought Chrysler in to competiveness with Ford and contributed to the profitability of the auto industry. To get an edge on his competition, he began developing the turbine engine for cars.
The turbine engine was to be wide-ranging and would operate on a number of different fuel sources from gasoline to ethanol to vegetable oils and eventually replace petroleum gas products.
Much like the Tesla / Edison paradigm, the bankers couldn't have that. The fix was in for Lee and Chrysler and eventually brought the automaker to its knees.
Unable to secure loans for further operations, Iacocca sought a loan from the Federal Government- thru Congress in 1979. After months of negotiation, Chrysler received it's loan / bailout BUT at a price; Congress insisted the loan would only be given if Chrysler ABANDONED its pursuit of the turbine engine. Lee agreed.
The turbine engine had been in development for 20 years and was scheduled to be rolled out in 1979- the same year Congress put the brakes on it. 50 cars and 5 prototypes had been built. All but nine were destroyed. Those nine turbine engine cars exist today in museums.
After abandoning the turbine engine, the rights to that technology wound up in the hands of Honeywell who shortly thereafter developed the M1 Abrams tank with the technology. Honeywell later sold that portion of its business to General Dynamics.
Bankers doing what bankers do- keeping us enslaved and bound to antiquated technology for their profit.