Chinese to buy GM and Chrysler

[kelpie]

Originally Posted By: Tempest
Originally Posted By: Drew99GT
I still think there is 1 fundamental thing about bailing out Detroit: it's not going to change what America is buying, at least in the short term. If they go bankrupt and restructure on their own, or even go bankrupt and dissolve, other companies like Toyota will buy their assets and build more cars here - cars that people are actually buying and are profitable. [censored]'s gonna hit the fan regardless of whether we throw 40 billion to Detroit, and there's going to be massive unemployment from Detroit's failings, but it's going to take private investment and management to turn those companies around or for other companies who haven't had their heads up their asses for 2 decades to do it. Bailing them out in anyway will only delay the inevitable.

And unemployment from the collapse of the big 3 will be offset by new employment from whatever rises from the ashes of Detroit.

A rare agreement with drew.

Michigan has been in decline for 6 years and a recession for 4 years, prior to the current crisis.
http://www.stateline.org/live/details/story?contentId=197521
http://blog.mlive.com/tricities/2008/02/bank_economist_four_years_of_m.html


Keep dreaming...Welcome to the New World Order.

 

[Tempest]

Originally Posted By: kelpie
Originally Posted By: Tempest
Originally Posted By: Drew99GT
I still think there is 1 fundamental thing about bailing out Detroit: it's not going to change what America is buying, at least in the short term. If they go bankrupt and restructure on their own, or even go bankrupt and dissolve, other companies like Toyota will buy their assets and build more cars here - cars that people are actually buying and are profitable. [censored]'s gonna hit the fan regardless of whether we throw 40 billion to Detroit, and there's going to be massive unemployment from Detroit's failings, but it's going to take private investment and management to turn those companies around or for other companies who haven't had their heads up their asses for 2 decades to do it. Bailing them out in anyway will only delay the inevitable.

And unemployment from the collapse of the big 3 will be offset by new employment from whatever rises from the ashes of Detroit.

A rare agreement with drew.

Michigan has been in decline for 6 years and a recession for 4 years, prior to the current crisis.
http://www.stateline.org/live/details/story?contentId=197521
http://blog.mlive.com/tricities/2008/02/bank_economist_four_years_of_m.html


Keep dreaming...Welcome to the New World Order.

Say what?

 

[Drew99GT]

Originally Posted By: kelpie
Originally Posted By: Tempest
Originally Posted By: Drew99GT
I still think there is 1 fundamental thing about bailing out Detroit: it's not going to change what America is buying, at least in the short term. If they go bankrupt and restructure on their own, or even go bankrupt and dissolve, other companies like Toyota will buy their assets and build more cars here - cars that people are actually buying and are profitable. [censored]'s gonna hit the fan regardless of whether we throw 40 billion to Detroit, and there's going to be massive unemployment from Detroit's failings, but it's going to take private investment and management to turn those companies around or for other companies who haven't had their heads up their asses for 2 decades to do it. Bailing them out in anyway will only delay the inevitable.

And unemployment from the collapse of the big 3 will be offset by new employment from whatever rises from the ashes of Detroit.

A rare agreement with drew.

Michigan has been in decline for 6 years and a recession for 4 years, prior to the current crisis.
http://www.stateline.org/live/details/story?contentId=197521
http://blog.mlive.com/tricities/2008/02/bank_economist_four_years_of_m.html


Keep dreaming...Welcome to the New World Order.


Congress just gave the big 3 the finger today, so they're likely not going to get any government money. By By GM, Ford, and Chrysler, hello Toyota and Honda!

 

[Tempest]

Quote:
Congress just gave the big 3 the finger today, so they're likely not going to get any government money.

Wait a few months...things will change.

 

[Cutehumor]

Congress should not give a bailout to the big 3. If they give money to the big 3, then every other major corporation will ask for a bailout in some form or another. Were in a recession, were all going to have to make sacrifices. Circuit City is going out of business. Linen'N Things has as well. The hotel industry has been hit hard due to the economy as well. I don't see them asking for a bailout, they are just laying people off like my bro-in law. He works for tech support for Hilton hotels. He's been there for 15 years. Tough beans for him. The only argument I have heard is that the auto industry is too important for the U.S economy. They may have had an argument when the economy was good, but not now.

 

[BGK]

Originally Posted By: Drew99GT
Originally Posted By: mpvue

do you REALLY think the US wouldn't allow their favorite fcuk partner to buy the big3?


They wouldn't let the Chinese buy our ports!

"edit" oops, that was Dubai.

And the US military won't buy Chinese weapons or vehicles or any other sensitive hardware. There is going to be a big backlash against China (it's already beginning) as the economy continues to tank.

 

[moribundman]

Originally Posted By: BGK
And the US military won't buy Chinese weapons or vehicles or any other sensitive hardware.


Excellent!

 

[OVERKILL]

Originally Posted By: Drew99GT
Originally Posted By: kelpie
Originally Posted By: Tempest
Originally Posted By: Drew99GT
I still think there is 1 fundamental thing about bailing out Detroit: it's not going to change what America is buying, at least in the short term. If they go bankrupt and restructure on their own, or even go bankrupt and dissolve, other companies like Toyota will buy their assets and build more cars here - cars that people are actually buying and are profitable. [censored]'s gonna hit the fan regardless of whether we throw 40 billion to Detroit, and there's going to be massive unemployment from Detroit's failings, but it's going to take private investment and management to turn those companies around or for other companies who haven't had their heads up their asses for 2 decades to do it. Bailing them out in anyway will only delay the inevitable.

And unemployment from the collapse of the big 3 will be offset by new employment from whatever rises from the ashes of Detroit.

A rare agreement with drew.

Michigan has been in decline for 6 years and a recession for 4 years, prior to the current crisis.
http://www.stateline.org/live/details/story?contentId=197521
http://blog.mlive.com/tricities/2008/02/bank_economist_four_years_of_m.html


Keep dreaming...Welcome to the New World Order.


Congress just gave the big 3 the finger today, so they're likely not going to get any government money. By By GM, Ford, and Chrysler, hello Toyota and Honda!


Ford just needs to stay afloat until GM goes [censored] up and then it'll get a nice increase in sales

I assume that's why they are selling off part of their share in Mazda.... If they can out-last GM, they'll do alright.

 

[StevieC]

Ford has always had pretty good products compared to the other 2. They are also usually the ones that always pass the smog tests years after the vehicles are built. I assume they will fair ok during these times...

 

[OVERKILL]

Ford traditionally has a much smaller product line than GM, so they are much more flexible in being able to "tune" it to cater to the vehicles that sell. GM is just soooo BIG..... hard to turn a ship that big around in a timely fashion....

 

[Cutehumor]

I just read an article on MSN today that Ford was in the best position to make it through this tough time than GM or Chrysler. Apparently, the CEO took out a huge loan with a low interest rate two years ago and stockpiled the money.

 

[OVERKILL]

That's good to hear! Though admittedly, I AM a touch biased

 

[StevieC]

The Bigger the Company the more Corporate Fat there is... I work for a company that has way too much corporate fat (in my opinion), and now with the economy in the toilet in the US they have cut 90 jobs south of the border and 10 here in Canada... It's inevitable...

 

[XS650]

Originally Posted By: ViragoBry
I watched an interview of some GM bigwig last night on the news, and he's waving his flags in much the same way as anyone else who's in complete denial about what's really wrong at GM. He stated that management and product are not to blame. The current state of the economy is to blame.



That bigwig is a good example of what's wrong with GM. When person is getting compensated multi-millions of dollars per year to do their job, they are seriously overpaid if the don't have magical powers that allow them to see the future. No one without magical powers is worth over a million/year.

 

[StevieC]

It's like I said earlier.... "It's all a game... Run the company in the ground while squeezing profits into corporate bonuses etc. Then cry the blues to the Government about how many job losses their will be, get a fat hand out and more corporate bonuses and repeat as many times as possible until they catch on then sell the company for nothing to a private equity firm that lets go of lots of people anyways and turns the company around, makes some profits and then sells it to another group of greedy tycoons to repeat the process above. Quite simple really!"

 

[PandaBear]

Originally Posted By: ViragoBry
In no way do I pretend to know the legalities behind telling the UAW to get bent, but it may very well come down to a choice for union workers if they don't get the bail out they're vying for.

Your choice: Agree to a pay cut of X%, or we'll file bankruptcy and send you all home with no job. Which sounds better?

In light of the current economic situation, I tend to think that they'd take some form of continued employment over no employment at all, and worry about recouping their losses later, when the company is is a better position to make concessions on their end.....much like the AA flight attendants, who have been more than patient as far as I'm concerned.


That works in the ideal world without politics and regulation. In reality the fight will be on TV and special interest groups on both side, and finally the government will bail out someone.

 

[ViragoBry]

Didn't have time to stick around and listen to the whole story, but I heard the first line that said the GM execs got NAILED in D.C. after arriving in the GM corporate jet to ask U.S. taxpayers for bailout money.

GOOD. It's an accurate picture of what's wrong at GM.

 

[Kestas]

15 years ago I've been telling people that US wages were approaching the world wage level, which back then was $3K per year. The forces are there and there's no fighting it, much as we'd like to maintain our present wages. Right now we're going through the pains of reaching this wage level.

The sad part for myself and my colleagues, is that manufacturing is the first to get hit. Unfortunately, we'll suffer from what I call the "lag effect". That's where our bank accounts are first get depleted before other industries (doctors, dentists, lawyers, realtors, etc.) realize they have no more paying customers and then are forced to lower their wages.

Don't think for a moment that your HMO wouldn't send you to third world countries for medical operations - where cost would be a fraction of what it is in the US - if they thought they could get away with it. The plane fare would be a pittance compared with what they could save.

 

[Cutehumor]

Originally Posted By: Kestas

Don't think for a moment that your HMO wouldn't send you to third world countries for medical operations - where cost would be a fraction of what it is in the US - if they thought they could get away with it. The plane fare would be a pittance compared with what they could save.


I totally disagree with the health sector being affected. Would you go to a third world country for an operation? heck no. We have the best medical facilities here in the USA. You want the best care possible. Who wants to go to a third world country whose MD can't speak English very well? It's not going to happen. The only way massive layoffs would happen in the health care field would be if they discovered a cure for every disease out there and someone discovered the fountain of youth.

 

[demarpaint]

Originally Posted By: ViragoBry
Didn't have time to stick around and listen to the whole story, but I heard the first line that said the GM execs got NAILED in D.C. after arriving in the GM corporate jet to ask U.S. taxpayers for bailout money.

GOOD. It's an accurate picture of what's wrong at GM.


I was watching this mornings news, funny how the news cameras were right there to see the private corporate jets fly the CEO's in. They remarked that the flights cost about $20,000. And these [censored] CEO's are looking for a bailout. Maybe the best thing that could happen is the Big Three go belly up, get the current CEO's, and the UAW out,then re-organize from there. Nice to dream isn't it? Greed and stupidity at its best!!!!!!!!!!!

Frank D