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Re: "Big Three" bailout ....
Originally Posted by Deedee13
(Post 6991087)
first the banks, now the big three. Who is next? Let them go bancrupt and start again from the bottom.
When do the bailouts stop? Same goes for the financial industry I say! That said, I think I'll be using all my savings to buy sheep, cattle and farmland, so at least we can eat when we end up in the next great depression!;) |
Re: "Big Three" bailout ....
It is not a bailout, it is a loan.
It seems odd lending them $25bn, when you can buy GM for $1bn. If it goes through they will be back next year for more. |
Re: "Big Three" bailout ....
Originally Posted by Steerpike
(Post 6991219)
Dealer networks are, I believe, independent, and would not be affected. Dealers and independents do maintenance. But they need parts. I would think the 'spare parts' division would be an immediate sell-off; maybe the govt. can help with that part if necessary. I would think many companies would be willing to buy up the spares division, and with that, you have continued long term support.
Most of the parts are made by other companies who supply to the manufacturer who is more of an assembly company. If garages need parts someone will continue to supply them. |
Re: "Big Three" bailout ....
Originally Posted by Steerpike
(Post 6991219)
Dealer networks are, I believe, independent, and would not be affected. Dealers and independents do maintenance. But they need parts. I would think the 'spare parts' division would be an immediate sell-off; maybe the govt. can help with that part if necessary. I would think many companies would be willing to buy up the spares division, and with that, you have continued long term support.
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Re: "Big Three" bailout ....
Chapter 11 is the only option really, no good will come from throwing money at the Big Three.
In the WSJ recently they had a comparison - GM vs. Honda. IIRC GM has 10 brands, vs. Honda's 2, GM has 7500 garages vs. Honda's 1500, yet Honda beats GM hands down. Same with Toyota. :blink: |
Re: "Big Three" bailout ....
It is laughable how these "Global Corporations" are so focused on the US.
Ford and GM could become competitive almost overnight by bringing in the smaller more fuel efficient models that sell so well in Europe. GM made a start by bringing in the European built Astra but of course buggered it up by hiding it away with a Saturn badge on it. Ford are apparently thinking about bringing in the Fiesta, but it is still almost a year away. There are fields full of Excursions, Expeditions, Tahoes and Suburbans rotting in fields because these dummies are too short sighted to realise that people wont buy them when gas is $4 a gallon.... now gas is $2 a gallon they still wont buy them because we all know that this will not last. Wake up and make the big stuff factory order only.... build the smaller stuff for dealer stock. Then if you really want a giant SUV you have to wait 6 weeks for it... not be suckered in by a dealer offering you a big discount on 4 tons of junk. 10 years ago, I worked for a Land Rover dealer in the UK. We never ordered gas powered Discoverys or Range Rovers for stock. This is because we knew we would have them forever... factory order only and folk were happy to wait. Not really rocket science. In conclusion..... bail them out but with really strict guidelines about how the money should be used and for heavens sake, somebody bring in a small diesel. The government should do their bit by bringing diesel prices in line with gas. That would push more people to diesel cars and help the long suffering truckers who are being royally screwed by big oil every day. Steve |
Re: "Big Three" bailout ....
Bush/Paulsen logic: help the banks out by "buying" shares in banks (read: hand over billions in exchange for pieces of paper that will be worthless if the bank goes tits up). When there are many jobs on the line, and people about to become homeless? No, no, the banks need to be bailed out, but the auto companies and individual homeowners have made Mistakes for which they much pay.
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Re: "Big Three" bailout ....
Originally Posted by snowbunny
(Post 6991567)
Bush/Paulsen logic: help the banks out by "buying" shares in banks (read: hand over billions in exchange for pieces of paper that will be worthless if the bank goes tits up). When there are many jobs on the line, and people about to become homeless? No, no, the banks need to be bailed out, but the auto companies and individual homeowners have made Mistakes for which they much pay.
As to homeowners, those living in foreclosed houses very rarely become homeless. They rent. Just like the multitude of people who either have chosen not to buy in the bubble or who got "priced out" by it. |
Re: "Big Three" bailout ....
Originally Posted by Octang Frye
(Post 6991409)
If there's warranty work, the company, let's say Ford, pays the dealer to carry it out. If the company aint there...
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Re: "Big Three" bailout ....
For the record, G1antaxe, I'm favor of a loan to the auto industry. I'll hold my nose and support it, because I'm a pragmatist and realize what the consequences would be if 100,000s of people are laid off, and are unable to contribute to the economy. All the suppliers will go to the wall etc.
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Re: "Big Three" bailout ....
Originally Posted by Zoe A
(Post 6991520)
It is laughable how these "Global Corporations" are so focused on the US.
Ford and GM could become competitive almost overnight by bringing in the smaller more fuel efficient models that sell so well in Europe. GM made a start by bringing in the European built Astra but of course buggered it up by hiding it away with a Saturn badge on it. Ford are apparently thinking about bringing in the Fiesta, but it is still almost a year away. There are fields full of Excursions, Expeditions, Tahoes and Suburbans rotting in fields because these dummies are too short sighted to realise that people wont buy them when gas is $4 a gallon.... now gas is $2 a gallon they still wont buy them because we all know that this will not last. Wake up and make the big stuff factory order only.... build the smaller stuff for dealer stock. Then if you really want a giant SUV you have to wait 6 weeks for it... not be suckered in by a dealer offering you a big discount on 4 tons of junk. 10 years ago, I worked for a Land Rover dealer in the UK. We never ordered gas powered Discoverys or Range Rovers for stock. This is because we knew we would have them forever... factory order only and folk were happy to wait. Not really rocket science. In conclusion..... bail them out but with really strict guidelines about how the money should be used and for heavens sake, somebody bring in a small diesel. The government should do their bit by bringing diesel prices in line with gas. That would push more people to diesel cars and help the long suffering truckers who are being royally screwed by big oil every day. Steve |
Re: "Big Three" bailout ....
Originally Posted by fatbrit
(Post 6990409)
I'm with you. The slightly more mature members of this board surely remember the debacle that was BL.
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Re: "Big Three" bailout ....
Originally Posted by robin1234
(Post 6992782)
Not just BL. I remember when the UK Government bailed out Chrysler. That was money down the drain too. I read that the German Government are reluctantly considering a GM bailout; I really don't understand that one. True, many thousands of Germans would lose there jobs if Opel (GM) failed ... but, wouldn't that help VW, Skoda, and other European based and European owned car companies, with which GM now directly competes? Surely, in a situation where there are too many companies competing for a finite and shrinking number of sales, isn't it good for the industry in general if a couple of companies fail?
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Re: "Big Three" bailout ....
as the big three decimated Flint MI, Detroit MI, and Toledo OH to move to factories in Mexico and Canada, and shipped half of their supply chain to China.
I would be interested to know when they're going before the governments of Canada, China and Mexico for their part of the bailout/loan/whatever |
Re: "Big Three" bailout ....
Originally Posted by Manc
(Post 6993043)
I would be interested to know when they're going before the governments of Canada, China and Mexico for their part of the bailout/loan/whatever
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