Phlip

"Picking the wrong major in haste," don't do it kids. FWIW, YOU were in the boonies when you were here, I am not. Sure, it's no LA for point of comparison, but please don't make us out to be a state full of shitkickers and nothing more.


It has been mentioned, how they basically just show up "hey, we NEED this money to pay our employees and stuff... Wait, what do you mean you want to know how we'll NOT fuck it off again?"

Displacement on demand, or active fuel management, very smart idea... Sad is how even IT came about in like 81 or 84, I forget which, and was VERY sparingly used until gas prices started to get stupid around 04 or so and everyone was scrambling to not lose their money to 40 MPG stock Civics.

Oh well, I am with but 3 opinions, let them file chapter 11 and figure the shit out themselves, let them sell themselves to the highest bidding competitor, or as I said in my last post BUY THE FUCKING COMPANY NOW for 3 billion instead of costing taxpayers 11 times that while they continue to fuck off the money.

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g6civcx

Background: GM and their suppliers are some of my biggest clients. I don't work with them directly but my coworkers do. If GM and all their friends closed today, I would notice a big hit in our revenues.

I studied GM many many years ago in business school in the 90s. You don't need an MBA to know that GM's business model was failing and has been for a very long time.


Recommendation: Let GM fail. Some other company will take up the market shares.

We should promote science and technology, but if the market does not want a particular product, we should not force the public to subsidise a failing infrastructure.


My personal reaction: I still support GM through GMPP as much as I possibly can. Nonetheless, I am ready to go to aftermarket vendors should GMPP fold.

SimpleS14

Sounds OK....but you're forgetting market value is just a bit of what the company's worth really is. Sure, buy them up....but be prepared to pay off the excessive amount of debt and expenses entailed to closing up factories/dealers and buyouts.

Implementing a public transit system is more of a city/state gov't responsibility. Sure this company can supply the parts, but they do not design the infrastructure.

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exitspeed

I am avoiding this topic intentionally.

BTW, they gov ok'd the $15 billion.

Most of it will go to Chrysler and GM. Ford will only need the money if the other two go under.

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HalveBlue

This shit's ridiculous.

It's like every MAJOR corporation is built like a house of cards.

What.the.Fuck?!

Congress is giving out money like it's growing on trees bailing these fuckers out. Oh wait...

But you know what? The U.S. is fucked either way. These corporations are so huge, that their collapse would prove disastrous for the US economy.

But pumping billions of dollars into failing businesses is a recipe for disaster too.

Either way, folks, you're fucked!

HyperTek

so now the canadian branches are asking the Canadian government for money??

Ford, GM and Chrysler Seek $6.8 Billion Government Loan from Canada - Carscoop

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luckvx

yes only cause if they dont it will cost millions of jobs

Antihero983

GM needs to....

at the very least get rid of Hummer, Buick, and GMC. Yes GMC. why? because chevy makes trucks, and the luxury suv thing is handled by Caddy. Heavy Duty? the make heavy duty chevys.

Ford needs to....
AXE MERCURY ALL READY. need I say more?

Chrysler needs to.....
Die.

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imotion s14

OR HOW ABOUT THEY JUST MAKE IT ILLEGAL TO HAVE A CERTAIN AMOUNT OF MARKET CAPITALIZATION!

This government can't even run a simple retirement fund. Yet some how they'll know what's best for an industry that is very capital intensive?

imotion s14

Indeed.

No company is too big to fail. The politicians and the media cheerleaders keep saying it over and over again. The majority of them don't have a clue how the economy works. Don't have a clue about the destructive monetary policies set forth by the central banks. For nearly 2 decades, the instant that there is some sign of recession, the central bankers would cut interest rates to keep the bubble from popping.

And besides that, the country is flat broke. How are we gonna pay for all these bailouts? Added it all up and you're looking at something like 6-8 trillion over the next decade.

There is nothing to government can do to stop the economy from collapsing. All they're doing is tossing OUR money down a bottomless pit. They're trying to get us to borrow more money, to spend more money, to prop up bad businesses and people who lived the good life on borrowed money.

All the "plans" they're attempting to do has been done before. Yet we keep trying the same things over and over again expecting different results. The Japanese created a massive public works program and propped up "zombie" companies after their bubble economy burst in the late 80s and they still haven't fully recovered from that.

All they're doing is to prop up all the irresponsible companies and people who at the detriment of the companies who's business was sound and people who lived within their means. We're the ones who get fucked. But the government is hell bent on spreading the misery to everyone.

Everything being done is to stop the symptoms. When we get sick, our immune system responds to invading germs by increasing body temp and releasing white blood cells to kill off the infection. No one wants to have a fever or feel sick but it has to happen in order to fight off the real threat. Taking meds to reduce the symptoms only prolongs the infection.

That's what's happening now. The market's cure is a severe albeit short recession. There is a liquidity problem but the government is hell bent on treating the symptoms and making it last longer.

TheWolf

I would appreciate it if my generation wasn't faced with digging the country out of debt..

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beeracing s14

yes they are worth bailing out if they promise that they will flock the streets with these..


http://www.youtube.com/watch?v=Po4i0HHrAWA

Matej

HalveBlue

^^^HHAHAHAA. Instant classic!

You know what I really want to know?

What steps are all these corporations and banks taking to make sure this situation doesn't reoccur in the future?

So far all I've been hearing is give these businesses money and they'll promise not to fuck up again.

Okay. But exactly how they'll prevent this stuff from happening again in the future hasn't been explained by anybody.

sillyvia13

Why wasnt I bailed out?
Where do I sign up?

This shit is LAME!!!!!!!
FAILURE! is to fail, not to almost fail and get rewarded...
fuck if we treated our kids like this...
they'd never learn to walk... we'd be fucking carrying 20 yr old kid like 2 yr olds....
fuck this friggin lame ass shit bailing out RICH FUCKS!
Sorry I might have used a f word.

ronmcdon

I think you've already answered your own question (assuming it wasn't rhetorical to begin with). There is no accountability whatsoever. History will repeat itself in the not so distant future. You can thank Washington for that.

They might as well crown Rick Waggoner emperor of the United States.

mobilesuit818

I think they should feed the 3 USA car makers to anyone that wants to buy them. (i.e toyota, honda, nissan, etc)

With those Union peeps working for them will get pink'd with the quickness.

Just proves that Unions dont work....

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SochBAT

All the union does is pay the folks that get to sit happy and do jack shit.

Check out the retention rate of Import Makers in the US as compared to American makers.

Shits gonna hit the fan, and our generation are the only ones in the room.

ryguy

You guys realize that this is a loan, and that once the Big 3 get the fucking unions off their back they'll be making a hefty profit, don't you?

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SochBAT

Which means never.

ryguy

Zing, you got me there. Really though, it's hard to believe that the largest automaker in the world can't turn a profit if they ditch saab, pontiac, and saturn and get some major concessions from the labor unions. The labor unions are agreeable to matching the wages the import companies are paying.

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SochBAT

They do very well for themselves overseas, check the numbers. But when they withhold SO MUCH DAMN POTENTIAL from the states, then they officially suck.

There are a number of cars they SHOULD have brought stateside to make up for those damn SUV's they're lugging around.

ryguy

In their defense, Saturn has the Astra and the Vectra (aura) and Pontiac had the Monaro and has the Commodore, and they are two of the divisions GM wants to axe.

Say what you want about the Volt, but with that and the Chevy Cruze coming I see a turnaround being possible.

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S14DB

So we have to bail them out till 2011?

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Phlip

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98s14inaz

So are mortgages, credit cards, and auto loans. How many of us are planning on paying those off anytime soon.

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HyperTek

ford needs to bring us the focus rs

I know its got that "Racer boy" looks, but its got its roots in rally racing.


and stop with all these alterations of the mustang and same goes for GM with teh new camaro and chrysler jumping on the gun with the Challenger.. "Oh lets build a car to compete with the other crapass company!!"

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RJF

I guess the unions aren't serious about helping the Big 3. Time for Chapter 11 bankruptcy.

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Matej

Union workers would rather lose their jobs than receive lower wages. I guess each one of them is really confident he or she won't be among the ones let go.

They truly don't deserve to be bailed out, if they're dumb enough to fail themselves like this.

S14DB

Update: Auto industry bailout plan dies in the Senate - Autos- msnbc.com

It's dead...

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