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Automotive News & Views Does America Even Need Its Own Automakers?
1788 messages, Last post on Mar 03, 2009 at 2:18 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
What Every Car Guy Knows - GM's Survival and American Image 
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Replying to: steve_ (Nov 16, 2008 3:44 pm) Support for bailing out the Big 3 in the Senate is very marginal, even among Democrats. Most thinking people see this as prolonging the end of the dinosaur era in Detroit. Close the doors and sell all the assets to keep the retirees going a few more years. If the worst case 3 million jobs lost comes true, it will still be less of a recession than Carter caused in the late 1970s. It will give Obama a chance to prove his worth as a leader.
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Replying to: gagrice (Nov 16, 2008 5:02 pm) Obama: Auto industry collapse would be 'a disaster (CNN)
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Replying to: steve_ (Nov 16, 2008 5:16 pm) "My hope is that over the course of the next week, between the White House and Congress, the discussions are shaped around providing assistance but making sure that that assistance is conditioned on labor, management, suppliers, lenders, all of the stakeholders coming together with a plan -- what does a sustainable U.S. auto industry look like? ALL parties need to get together and come up with a plan. It is not enough that a few guys on top take a big salary cut. That will not save GM in the long run. They HAVE to become competitive with ALL auto companies in the World. We are in a global market place. GM is still in the dark ages of being the only choice, take it or leave it. All those involved need to wake up and smell the coffee. Or look for a different line of work. Want some fries with that? |
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Replying to: gagrice (Nov 16, 2008 5:02 pm) For the past three weeks, U.S. continuing jobless claims averaged 3.7 million, the highest figures since June 2003. In the meantime, let the chips fall where they may. Either way, jobs need to go. Any other plan that does not face this reality is a waste and prolong this necessary evil. Pay now or later. The industry will be downsized Gov't bailout or not. Funny how the management of the car companies and the all-knowing pundits say bankruptcy is sheer disaster and no one will buy their cars in Ch. 11. Well, wake up and smell the COFFEE! No one is going to buy these cars because of all the press regarding a bailout either. Let's see what the Big 3 sell in November. No sale, cut expenses and the products that do not sell. I never learned: no sale, ask for government help? What the heck are we turning into? The line is forming behind closed doors as we speak! I will apply for a Government Grant to start an auto company as long as I get part of the T.A.R.P. to support failure. It's a Win/Win. No risk! Guess who's assets I will buy for pennies/dollar??  Regards, OW |
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Replying to: cooterbfd (Nov 16, 2008 1:41 pm) Yes but cooter, 500,000 is a LONG way from 3 million. AND those jobs would go away in phases, as less than 25% of that number is direct job losses at GM (I'm not including Ford, as I think they will make it through). We have lost more than 3 times that number of jobs just in the last 10 months. If we lose that many more in the next 10, all it will do is extend the recession, not make things any worse than they are now. Looks like it is a moot point anyway, as it seems the Repubs are dead set against giving the domestics any money at this point, and GM probably won't make it to the new year. I think it's weird that in the midst of the worst crisis GM has ever seen, they continue plugging away at the Volt. Shouldn't all spending on R&D cease when the company is looking at not being in business in 60 days' time? Even if they avoid the big 'B' this car is going to do little for the bottom line for at least a decade.
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Replying to: nippononly (Nov 17, 2008 8:11 am) I think the Volt R&D will continue unless GM concentrates R&D on stuff like that new engine plant they have on the drawing board. The $25 billion loan guarantee already passed was intended "to spark a wave of automotive innovation." link. So if they don't come up with something to fund that falls under that innovation umbrella, they may not get any of the guarantee money. And lots of that money could be designated for R&D but it also could tangentially help pay some of the existing salaries and overhead that is used for day-to-day operations. |
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I hope the Fed Guv-Mint group that is supposed to guarantee that the General is spending that money on new "automotive innovation" has some teeth to it, then. GM could piss away this cash and say that they're doing something entirely different with it, eh? 
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Replying to: lemko (Nov 15, 2008 8:36 am) Being your like for luxury, would think that an upgrade from a Cadillac to a Lexus ES or RX a more likely scenario.  Or to Acura, or Infiniti, or Genesis, or Audi, etc.
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Automotive News & Views Does America Even Need Its Own Automakers?
