In the late 1970s, the US government’s approval of a program of loan
guarantees on behalf of the Chrysler Corporation was an unprecedented
intervention into the logic of capitalism. The discourse that made this possible
involved a large set of sometimes conflicting rationales. Because the proposed
intervention was intimately connected to the past and future performance of a
single company, accounting information should have been a major element of the
decision making. This paper discusses where accounting information was used,
where it could have been used better and where it would have no role in this
particular historical episode. Whereas accounting could not have been the only
form of information involved in this major decision, it could have been used
more extensively and more imaginatively. The case points out that when
accounting is primarily used as ammunition and rationalisation, individuals do
not necessarily want to explore the limits of its usefulness.
Anderson, H.
, (1979a),
“Can Chrysler Be Saved?”
, Newsweek, 7 December, p.
32
.
2.
Anderson, H.
, (1979b),
“Chrysler’s Battle to Stay Afloat”
, Newsweek, Vol.94, 27 August, p.
52
.
3.
Bohr, D.
, (1979),
“Chrysler’s Pie-in-the-Sky Plan for Survival”
, Fortune, Vol.100, 22 October, pp.
46-48
.
4.
Bloomington Herald, (1979),
“Chrysler Aid Plan Workable”
, 4 December, p.
1, 17
.
5.
Brill, H.
, (1980),
“Chrysler on Welfare”
, Social Policy, Vol.10, March, pp.
10-13
.
6.
Brown, W.
, (1979),
“Auto Plants and its City Fall Victim to Chrysler’s Decline”
, Washington Post, 14 November, pp.
1-2
.
7.
Buckley, W.
, (1979),
“Farewell to Chrysler”
, National Review, Vol.31, 31 August, pp.
1-12
.
8.
Burchell, S.
,
Clubb, C.
,
Hopwood, A.
and
Nahapiet, J.
, (1980),
“The Roles of Accounting in Organizations and Society”
, Accounting, Organizations and Society, Vol.5,
No.1, pp.
5-28
.
9.
Business Week, (1979a),
“A Strong Mitsubishi May Drop Chrysler”
, 16 October, p.
68
.
10.
Business Week, (1979b),
“Chrysler’s Failing Hope for Aid”
, 24 September, pp.
58-59
.
11.
Business Week, (1979c),
“Is Chrysler the Prototype?”
, 20 August, pp.
102-106
.
12.
Business Week, (1980),
“How Far Can Chrysler Stretch Its First Aid?”
, 26 May, pp.
55-56
.
13.
Cameron, J.
, (1979),
“Chrysler’s Quest for Federal Welfare”
, Fortune, Vol.100, 22 October, pp.
46-48
.
14.
Chapman, S.
, (1979),
“No Fault Capitalism”
, New Republic, 19 November, pp.
11-12
.
15.
Dizard, J.
, (1980),
“Trying to Put Chrysler Back on the Road Again”
, Institutional Investor, Vol.14, March, pp.
43-46
.
16.
Eagleton, T.
, (1979),
“Helping Chrysler Will Not Do Violence to Free Enterprise”
, Dun’s Review, Vol.114, December, p.
31
.
17.
Economist, (1979a),
“Australian Cars: Chrysler Blows a Gasket”
, Vol.267, 13 May, p.
98
.
18.
Economist, (1979b),
“Chrysler Running Out of Road”
, Vol.272, 4 August, p.
91
.
19.
Economist, (1979c),
“Chrysler - V.W.: Just Good Friends”
, Vol.271, 30 June, p.
78
.
20.
Economist, (1979d),
“Let Chrysler Go Down”
, Vol.272, 11 August, pp.
73-74
.
21.
Economist, (1980a),
“Chrysler’s Up Against the Wall - And the Shooting Started”
, Vol.275, 26 April, p.
53
.
22.
Economist, (1980b),
“Northward, Look the Sky is Dark”
, Vol.275, 26 April, p.
54
.
23.
Friedman, M.
, (1979),
“Chrysler: Are Jobs the Issue?”
, Newsweek, 10 September, p.
32-34
.
24.
Hunter, J.
, (1983), Structural Change in the U.S. Automotive
Industry,
Lexington MA: Lexington Books
.
25.
Nevens, R.
, (1978),
“Will Chrysler Drown in a Sea of Red Ink?”
, Financial World, Vol.147, 15 November, pp.
17-21
.
26.
Newsweek, (1979),
“Haggling Over Chrysler’s Price”
, Vol.94, pp.
86-87
.
27.
New York Times, (1979),
“Not So Fast on Chrysler”
, 4 September, p.
18
.
28.
Nicholson, T.
, (1979a),
“Chrysler’s Big Boost”
, Newsweek, Vol.94, 12 November, pp.
86-87
.
29.
Nicholson, T.
, (1979b),
“The $203 Million Seat on the Board”
, Newsweek, Vol.94, 5 November, p.
82
.
30.
Norman, J.
, (1980),
“Chrysler’s Credibility is On the Line”
, Business Week, 3 March, p.
23
.
31.
Pasztor, A.
, (1979),
“U.S. Help for Chrysler Won’t Assure Revival, Federal
Aides Tell Senate”
, Wall Street Journal, 11 October, p.
1
.
32.
Schuyter, P.
, (1978),
“Chrysler Goes for Broke”
, Fortune, Vol.97, 19 June, pp.
54-56
.
33.
Stuart, R.
, (1980), Bailout,
South Bend, Indiana: And Books
.
34.
Time, (1979a),
“Big Loss, Bigger Bailout”
, Vol.114, 12 November, pp.
98-100
.
35.
Time, (1979b),
“Changeover Time at Chrysler”
, Vol.114, 1 October, p.
76
.
36.
Time, (1979c),
“$1 a Year?”
, Vol.114, 10 September, pp.
73-74
.
37.
Time, (1979d),
“Santa Calls on Chrysler”
, Vol.114, 31 December, p.
14
.
38.
Time, (1980),
“Wheels Deal: 30 Day Money Back Guarantee Test Campaign for
Buyers of 1980 Models”
, Vol.115, 21 January, pp.
65-66
.
39.
U.S. News and World Report, (1979a),
“Lee Iacocca Speaks Out: Why Bail Out Chrysler?”
, Vol.87, 17 December, pp.
62-64
.
40.
U.S. News and World Report, (1979b),
“Should Taxpayers Bail Out Chrysler?”
, Vol.87, 26 November, pp.
99-100
.
41.
Vitullo-Martin, J.
, (1980),
“Chrysler in Chaos: Is the Company Beyond Repair?”
, Saturday Review, Vol.7, 10 January, pp.
22-25
.
42.
Wall Street Journal, (1979),
“Carter Plan to Aid Chrysler Urges U.S. Loan Guarantees of 1.5 Billion”
, 2 November, p.
1
.
