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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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81.17% |
04-23-2009, 11:10 AM
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CC Member / Sponsor
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Join Date: Jan 2002
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04-23-2009, 01:13 PM
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Senior Club Cobra Member
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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, 08:43 PM
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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, 09:18 PM
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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 02:22 PM..
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06-01-2009, 12:04 AM
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Join Date: Mar 2003
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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, 09:49 AM
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Canadian Gashole
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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, 11:38 AM
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Wayne,
Now that it is official and GM is declaring bankruptcy and the Govt. and Canada are taking over, are you going to get your share of it? So far today I have read 3 different articles on it and they agree for the most part but I did notice some differences in just what each seems to think is going to happen. I guess between the Govt. the union, and GM Canada or whatever they are going to call it, there will be a new type car developed and that will then replace everything. I just wish the dam unions weren't so greedy and they could have resolved this without the Govt. getting into private business.
On a smaller note, the city of Redding is now firing more than half of their employees because the union thinks it is better to have most of their people out of work than to forgo their big pay raises and benefits. This area would easily qualify as a poverty area now and the union can't see that it is better to have a job and make a living than to have no work and lose everything.
Ron  |
06-01-2009, 02:40 PM
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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. 
__________________
"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, 03:52 PM
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Super Moderator
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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.
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Jamo
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06-02-2009, 07:05 AM
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Canadian Gashole
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Join Date: Mar 1999
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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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06-02-2009, 07:29 AM
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With the way Obama is taking over the country Ford will most likely have to cede a controlling interest to the Govt. or they will be put out of business. Or they could just pack up and move to another country.
I also expect to see a mess among the suppliers to GM and the rest as they will have to cut back due to the smaller amount of cars produced. I really likes the statement that they would like to see every person in a brand new less polluting car within three years. Talk about not having any sense of reality. Where are the people who still have jobs going to come up with enough extra money to buy these expensive cars they want them to have?
Ron |
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