One big thing that sticks with me on how the big 3 turnaround is shakey is the credit situation. Right now financing is tight and I've heard local dealers say that they actually have buyers for cars - but the only thing that stalled the sales were lack of financing. This is a major hurdle that hurts any automaker turnaround plan. With all the money given to the banks (to put into the economy)this should not be that way! Oh, I forgot - the banker's bonuses and trips come first....
GM and Chrysler owners - are you worried?
- Thread starter addyguy
- Start date
- Status
Was a GM owner for almost 40 years. Last vehicled was a Nissan Frontier. No more GM. I won't pay the extra for retiree health care at GM when as a retiree under 65 I have to pay my own. If UAW stays that course, they will lose even more retiree sales.
What is real sad is the only reason G.M. and Chrysler are in bad shape is from the last couple of over paid under performing CEOS.You can always cut the little guys pay. What happens to the Captain of a U.S. Navy ship when the ship runs aground? well G.M. and chrysler have been run aground.
What will happen to all those retirees from GM and Chrysler in the USA and Canada? I heard their pensions are safe... They come from a different fund or something, that can't be touched by the companies? Or Am I totally wrong?
Not really. While the canadian pension model is "insurable", if the company goes into chapter 11, it can longer fund the pyramid scheme known as "the pension", thus resulting in the company administrating the pension going into default themselves...
Whatever parts NAPA and similar car companies will not have, there are still specialty guys that restore components from ages ago.
I keep thinking about how "Pinellas Guaranteed Carburetor" is busy every single day.
I keep thinking about how "Pinellas Guaranteed Carburetor" is busy every single day.
Originally Posted By: firemachine69
Not really. While the canadian pension model is "insurable", if the company goes into chapter 11, it can longer fund the pyramid scheme known as "the pension", thus resulting in the company administrating the pension going into default themselves...
What does "insurable" mean? The Canadian Retirees will be ok for many years to come?
Not really. While the canadian pension model is "insurable", if the company goes into chapter 11, it can longer fund the pyramid scheme known as "the pension", thus resulting in the company administrating the pension going into default themselves...
What does "insurable" mean? The Canadian Retirees will be ok for many years to come?
Originally Posted By: addyguy
Yes, a lot of parts suppliers don't supply the manufacturers directly, but they exist under the 'backdrop' of the manufacturers still pumping out cars. Once that stops, the demand for their parts will start to drop off precipitously.
This was just demonstrated today as Goodyear announced 5000 layoffs due to the drop in demand as less cars are being built.
Yes, a lot of parts suppliers don't supply the manufacturers directly, but they exist under the 'backdrop' of the manufacturers still pumping out cars. Once that stops, the demand for their parts will start to drop off precipitously.
This was just demonstrated today as Goodyear announced 5000 layoffs due to the drop in demand as less cars are being built.
Originally Posted By: BigNick
What will happen to all those retirees from GM and Chrysler in the USA and Canada? I heard their pensions are safe... They come from a different fund or something, that can't be touched by the companies? Or Am I totally wrong?
cough....BAILOUT....cough...
What will happen to all those retirees from GM and Chrysler in the USA and Canada? I heard their pensions are safe... They come from a different fund or something, that can't be touched by the companies? Or Am I totally wrong?
cough....BAILOUT....cough...
Ch 11 comes with some big pluses and some rather disturbing unknowns. The biggest plus is protection from its creditors (does this include the government?) and relief from the UAW & legacy costs. The BIG unknown is the psychological effect on customers, will they buy from an automaker in ch 11? Many will but how many wont? They would obviously have to come out of ch 11 ASAP.
Originally Posted By: pbm
It's amazing that so many are concerned about paying health insurance for retired AMERICANS and yet ILLEGAL ALIENS are bankrupting our health care system and both candidates last fall said nothing about it.
Both parties are scared to do anything to the the illegals. Their American born children will vote against the party who messed with their illegal immigrant parents. Isn't in 30 years, the majority will be African American, Hispanics, and Asians? I thought I read a study about that.
It's amazing that so many are concerned about paying health insurance for retired AMERICANS and yet ILLEGAL ALIENS are bankrupting our health care system and both candidates last fall said nothing about it.
Both parties are scared to do anything to the the illegals. Their American born children will vote against the party who messed with their illegal immigrant parents. Isn't in 30 years, the majority will be African American, Hispanics, and Asians? I thought I read a study about that.
Last edited:
- Status
Similar threads
