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View Poll Results: Should US Taxpayers Bail Out the Big Three Automakers?
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YES
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18.83% |
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NO
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194 |
81.17% |
04-10-2009, 11:06 AM
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CC Member / Sponsor
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Join Date: Jan 2002
Location: Provo,
UT
Cobra Make, Engine: HiTech Legends GT500
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Public Pension funds are next
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04-23-2009, 10:10 AM
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CC Member / Sponsor
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Join Date: Jan 2002
Location: Provo,
UT
Cobra Make, Engine: HiTech Legends GT500
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04-23-2009, 12:13 PM
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Senior Club Cobra Member
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Join Date: Aug 1999
Location: Ellington,
CT
Cobra Make, Engine: Classic Roadster 351W, T5, Red & White
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If someone( s ) would comment........
A con on GM or Chrysler going into bankruptcy is the outstanding payments to dealers for warranty work would cease and the dealers would then be subject to the terms of the bankruptcy for payment. During the future days, weeks & months the dealers will be hesitant to perform warranty work, further complicating the customer relationship with GM and the dealers.
Correct or ?
__________________
2014 Porsche Cayman S, 2014 M-B CLA 45 AMG,
Unkown:"Their sweet lines all but take my breath away, and I desire them as much for their beauty as for their use "
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04-23-2009, 07:43 PM
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CC Member
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Join Date: Sep 2008
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Quote:
Originally Posted by Don
If someone( s ) would comment........
A con on GM or Chrysler going into bankruptcy is the outstanding payments to dealers for warranty work would cease and the dealers would then be subject to the terms of the bankruptcy for payment. During the future days, weeks & months the dealers will be hesitant to perform warranty work, further complicating the customer relationship with GM and the dealers.
Correct or ?
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That's the bad side of the coin. In bankruptcy, the union workers would take serious pay and benefit cuts. That will please them so much that there won't be any warranty work necessary. They will all do their work to perfection.
Unless the coin has a bad side and a worse side........................ |
05-31-2009, 08:18 PM
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CC Member
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Join Date: Feb 2004
Location: Outside Miami,
FL
Cobra Make, Engine: Several
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Car Czar? Remember Jaguar, Trabant & Dacia? Dacia?
JUNE 1, 2009 http://online.wsj.com/article/SB124381203054570397.html
What I Learned as a Car Czar
By ION MIHAI PACEPA
History shows government and automobile manufacturing don't mix.
[Long cut/paste that was identical to the link removed...per previous Lounge rules. Jamo]
--------------------
Lt. Gen. Pacepa, the highest ranking Soviet bloc official granted political asylum in the U.S., is the author of the memoir "Red Horizons" (Regnery, 1987).
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"A free people ought not only to be armed and disciplined but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government."
George Washington
Last edited by Jamo; 06-01-2009 at 01:22 PM..
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05-31-2009, 11:04 PM
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CC Member
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Join Date: Mar 2003
Location: Arkadelphia, AR,
AR
Cobra Make, Engine: Kirkham 427 brushed aluminum with Keith Craft 527C.I. all aluminum FE
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That about says it all
Well I would say that we should learn from History. This is just what Obama would like to happen, for the government and the union to end up with GM. Just another move toward sociolism which is what he is all about.
I thought in America you had just as much right to fail as you did to succeed. But not in the new America where everyone wants to depend on the government. The government can not do anything right much less run a car company. This move by the government is illegal but nothing can be done about it. The bond holders are the ones to get screwed, now lets see if any other companies can get any bond money now that the government has done this.
This is just the start of the down fall of our country. Way to many lazy and stupid people live here now. They will not let the bears eat the stupid people any more and keep them weeded out. Just my 2 cents worth.
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Keith C
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06-01-2009, 08:49 AM
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Canadian Gashole
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Join Date: Mar 1999
Location: Quebec, Canada,
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Cobra Make, Engine: Johnex 427 S/C, 351W, 472 HP, 444 lbs. torque
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I found this article to be very interesting but it is quite long.
Wayne
http://www.bloomberg.com/apps/news?p...d=ao0Me6MBXFAY
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Don't get caught dead, sitting on your seat belt.
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06-01-2009, 01:40 PM
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Senior Club Cobra Member
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Join Date: May 2001
Cobra Make, Engine: A CSX Cobra,1966 GT350 and an '06 Ford Heritage GT
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Quote:
Originally Posted by Dan40
That's the bad side of the coin. In bankruptcy, the union workers would take serious pay and benefit cuts. That will please them so much that there won't be any warranty work necessary. They will all do their work to perfection.
Unless the coin has a bad side and a worse side........................
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Uhh..I haven't seen any 'serious pay and benefit' cuts, but I do see the union ending up owning 20% of the new (taxpayer funded) company while secured bond holders get fu**ed.
And after BoBo and crew get done, I am sure the union boys will line up for more handouts/strikes/etc... 
I suppose you have seen the 'brains' behind this whole operation...a 31 year old fresh out of grad school who has never held a job in his life. 
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"I think we have more machinery of government than is necessary, too many parasites living on the labor of the industrious." Thomas Jefferson
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06-01-2009, 02:52 PM
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Super Moderator
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Join Date: May 2001
Location: Fresno,
CA
Cobra Make, Engine: KMP 184/482ci Shelby
Posts: 14,448
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Quote:
Originally Posted by 427sharpe
Uhh..I haven't seen any 'serious pay and benefit' cuts, but I do see the union ending up owning 20% of the new (taxpayer funded) company while secured bond holders get fu**ed.
And after BoBo and crew get done, I am sure the union boys will line up for more handouts/strikes/etc...
I suppose you have seen the 'brains' behind this whole operation...a 31 year old fresh out of grad school who has never held a job in his life. |
You're seeing what I'm seeing. The bondholders...the folks that invest in the industrial machine that creates jobs in this country...were shafted big time. Where in the hell does DC think they're going to get investment capital in the future?
...tax dollars.
__________________
Jamo
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06-02-2009, 06:05 AM
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Canadian Gashole
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Join Date: Mar 1999
Location: Quebec, Canada,
QC
Cobra Make, Engine: Johnex 427 S/C, 351W, 472 HP, 444 lbs. torque
Posts: 2,455
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Quote:
Originally Posted by Jamo
You're seeing what I'm seeing. The bondholders...the folks that invest in the industrial machine that creates jobs in this country...were shafted big time. Where in the hell does DC think they're going to get investment capital in the future?
...tax dollars.
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While the bondholders got screwed, what about the old shareholders? They really got shafted. While much of the old stock was held by institutional investors, some was held by everyday people that invested their retirement savings in GM. Those investments are virtually worthless.
The buring question is what now happens to Ford? The governments have bailed out GM and to a lesser extent, Chrysler. Does this now not put Ford at a disadvantage when it was the only one that deserved to survive?
Wayne
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Don't get caught dead, sitting on your seat belt.
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