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Re: "Big Three" bailout ....
This would be funny, if it weren't accurate.
(Warning for the sensitive and some of the employed: It includes a bit of profanity.) http://www.itulip.com/images/big3bailoutad.jpg |
Re: "Big Three" bailout ....
Originally Posted by RoadWarriorFromLP
(Post 7052666)
This would be funny, if it weren't accurate.
(Warning for the sensitive and some of the employed: It includes a bit of profanity.) http://www.itulip.com/images/big3bailoutad.jpg |
Re: "Big Three" bailout ....
Originally Posted by RoadWarriorFromLP
(Post 7052666)
This would be funny, if it weren't accurate.
(Warning for the sensitive and some of the employed: It includes a bit of profanity.) http://www.itulip.com/images/big3bailoutad.jpg This is quite an interesting article too; Extract: •Foreign cars made in the USA. Honda's Ohio-built Accord is 70% domestic parts. Toyota's Corolla is made in a California plant alongside General Motors models. •American cars made abroad. Ford's hit Fusion sedan is made in Mexico; only half its parts are from the USA or Canada. GM pitches its small HHR sport utility and giant Suburban straight at the American market, but they, too, are built in Mexico. HHR has only 41% American and Canadian parts. •Famous American names and foreign owners. More than three-quarters of the parts in Dodge's new Nitro SUV, which is assembled in Toledo, Ohio, are American or Canadian. But the profits go to Germany because Dodge is part of DaimlerChrysler. Chrysler Group, meanwhile, just became the first major automaker to announce it's going to make small cars for the U.S. market in China. |
Re: "Big Three" bailout ....
Paul Krugman, winner of the 2008 Nobel economics prize, said on Sunday policy makers would be unable to prevent the global economic crisis from inflicting serious damage. Krugman also said he doubted the U.S. auto sector would survive in the long run but that it was worth supporting it in the short term. The struggling Detroit-based car giants -- General Motors, Ford and Chrysler -- were victims of long-term trends as well as by the current financial crisis, he said. |
Re: "Big Three" bailout ....
Just as an update, Daimler sold 80% of its interest to Cerberus last year. And there are no profits that go to Germany or New York or anywhere else, since there are no profits at all.
Originally Posted by Boiler
(Post 7052859)
I have not been able to dind why he thinks this or at what cost.
Unfortunately, this is going to cost us a fortune. You can bet that the current amounts won't be enough, and they won't likely be repaid. |
Re: "Big Three" bailout ....
Originally Posted by RoadWarriorFromLP
(Post 7052666)
This would be funny, if it weren't accurate.
(Warning for the sensitive and some of the employed: It includes a bit of profanity.) http://www.itulip.com/images/big3bailoutad.jpg Seems appropriate too :D |
Re: "Big Three" bailout ....
Originally Posted by RoadWarriorFromLP
(Post 7052943)
The issue is the timing. It's a particularly bad time to have these companies implode. It's possible to support a bailout for the short term, even if you don't think that it will save the companies over the long run, because of the immediate impacts. Unfortunately, this is going to cost us a fortune. You can bet that the current amounts won't be enough, and they won't likely be repaid. |
Re: "Big Three" bailout ....
Originally Posted by Boiler
(Post 7053219)
There has to be some sort of cost vs benefit analysis. And if you are just buying time, well you need to acknowledge and use it wisely.
We are being blackmailed with this, but at the same time, they are holding hostages and guns to our heads, so we have no choice but to entertain at least some aspects of the deal. The problem is not just that they are piloting the Titanic, which is doomed to sink, but that we are also on board. We don't need to care if they sink, just so long as we get a chance to unload the passengers before hitting the ice. We need time to escape, but we can't unless we get lifeboats full of money to pay for it. |
Re: "Big Three" bailout ....
Originally Posted by RoadWarriorFromLP
(Post 7053264)
The cost of not doing it is hard to quantify, because the shocks to the markets could be devastating and difficult to unwind, and the hit to the unemployment system could be a budget buster.
We are being blackmailed with this, but at the same time, they are holding hostages and guns to our heads, so we have no choice but to entertain at least some aspects of the deal. The problem is not just that they are piloting the Titanic, which is doomed to sink, but that we are also on board. We don't need to care if they sink, just so long as we get a chance to unload the passengers before hitting the ice. We need time to escape, but we can't unless we get lifeboats full of money to pay for it. |
Re: "Big Three" bailout ....
Originally Posted by paddingtongreen
(Post 7053816)
I'd put that a little differently. They are the motors of the ship and they have run out of fuel, they are asking us, the passengers, for money to buy fuel to finish the journey, otherwise we might just drift onto some rocks.
Unfortuately money is not waterproof. |
Re: "Big Three" bailout ....
Originally Posted by paddingtongreen
(Post 7053816)
I'd put that a little differently. They are the motors of the ship and they have run out of fuel, they are asking us, the passengers, for money to buy fuel to finish the journey, otherwise we might just drift onto some rocks.
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Re: "Big Three" bailout ....
But they can't go wrong, there will be a, Bush appointed, Car Czar to keep them on track!
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Re: "Big Three" bailout ....
Originally Posted by paddingtongreen
(Post 7055398)
But they can't go wrong, there will be a, Bush appointed, Car Czar to keep them on track!
Or the original version: http://www.wtoc.com/global/video/fla...o&rnd=13289962 |
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