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6819 messages, Last post on Jul 04, 2009 at 11:31 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: 62vetteefp (Dec 01, 2008 4:09 pm) OK, what is this guys track record regarding forecasts. I mean last year did he predict this year right? Because in order to know how many vehicles will be sold next year requires a good understanding of macroeconomics. Is this guy a PhD in economics? Not even the best minds on Wall Street or in Washington have a good handle on what's going to happen next month. The situation we're in economically is far more serious then what we're in now. The quote from the other day is that we're in the 1st inning of the next real estate crisis - commercial real estate. And then we have a trillion $ mess with credit card balances that will be hitting soon. And if we have any sort of terrorist attack that wrecks more havoc with trade. If you want proof of the mess we're in, consider that after all the blood that's been shed in the stock market so far, and all that the Treasyury is doing to prop up the financial system including multiple interest rate cuts, financial stocks fell an average of 17% today.
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House leader says Detroit CEOs should be fired On the eve of Detroit’s day of reckoning with the United States government, House Majority Whip Jim Clyburn, a South Carolina Democrat, said that the future of the auto industry was up to him, the CEOs of Chrysler LLC, Ford Motor Company and General Motors would be fired. “If I had my way, all three of those guys would be in the unemployment line and I think that ought to be one of the conditions for us doing this,” Clyburn told reporters at a press conference earlier today. “They need to be giving up their jobs, not just their packages.” “We need to have new leadership. That’s what we would do if we had this kind of failure on a football field. We would be getting a new coach — sometimes a new athletic director,” he said. “We need to clean house with these guys and bring in new people.” Clyburn will be responsible for actually rounding up the votes needed for an automaker rescue plan. He has stated that he wants the $25 billion the automakers are requesting to come from the $700 billion previously set aside to help out Wall Street and banks. All three CEOs - Chrysler’s Bob Nardelli, Ford’s Alan Mulally and GM’s Rick Wagoner - met today in Detroit to finalize the plan they will present to Congress beginning tomorrow. Perhaps Friday they will all get their severance packages!  Regards, OW
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Replying to: kernick (Dec 01, 2008 6:26 pm) We should listen to someone outside the auto world to get data on the auto world? These guys know the automotive world inside and out. Yes, perhaps they could be biased but they know their stuff. But hopefully we will never have to figure out if they were incorrect. "His research has been funded by, among others, General Motors, Ford, DaimlerChrysler, Delphi , Visteon, Dana, ArvinMeritor, Fiat, Honda, Lamborghini, Magneti Marelli, Oshkosh Truck, Cummins, IBM, Motorola, Allied Signal, the National Science Foundation, NASA, the U.S. Department of Energy, the U.S. Army TACOM, the National Renewable Energy Laboratory, and DARPA." They also have done this before and I do not recall anyone disputing their findings. These studies include: The Center for Automotive Research. Contribution of the Motor Vehicle Supplier Sector to the Economies of the United States and its 50 States. Prepared for the Motor & Equipment Manufacturers Association, Ann Arbor, January, 2007. The Center for Automotive Research. Contribution of Toyota to the Economies of Fourteen States and the United States in 2003. Prepared for Toyota Motor North America, Inc., Ann Arbor, June, 2005. Institute of Labor and Industrial Relations, University of Michigan and the Center for Automotive Research. Contribution of the U.S. Motor Vehicle Industry to the Economies of the United States, California, New York, and New Jersey in 2003. Prepared for the Alliance of Automobile Manufacturers, Inc., Ann Arbor, May, 2004. Institute of Labor and Industrial Relations and the Office for the Study of Automotive Transportation, University of Michigan and the Center for Automotive Research. Contribution of the Automotive Industry to the U.S. Economy in 1998: The Nation and Its Fifty States. A Study Prepared for the Alliance of Automobile Manufacturers, Inc. and the Association of International Automobile Manufacturers, Inc. Ann Arbor, Winter 2001. The Office for the Study of Automotive Transportation, Transportation Research Institute, and the Institute of Labor and Industrial Relations, University of Michigan. The Contribution of the International Auto Sector to the U.S. Economy. A study prepared for the Association of International Automobile Manufacturers, Inc., Ann Arbor, March, 1998. McAlinden, Sean P., et. al., Economic Contribution of the Automotive Industry to the U.S. Economy – An Update – A Study Prepared for the Alliance of Automobile Manufacturers, Center for Automotive Research. Ann Arbor, Fall 2003. Office for the Study of Automotive Transportation, Competitive Survival: Private Initiatives, Public Policy and the North American Automotive Industry – Prepared for the U.S.-Canada Automotive Select Panel. University of Michigan Transportation Research Institute, Ann Arbor, June, 1992. The research staff of the Center for Automotive Research performed a number of these studies when located at the University of Michigan’s Office for the Study of Automotive Transportation.
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Replying to: circlew (Dec 01, 2008 6:38 pm) Smart guy. Nardelli has been there less than one year and Mullaly two years. Yep, they come in with a losing team and things get worse due to issues beyond their control. Yep fire them and bring someone else in. |
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Replying to: 62vetteefp (Dec 01, 2008 7:11 pm)  Regards, OW |
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Replying to: 62vetteefp (Dec 01, 2008 4:09 pm)
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Replying to: 62vetteefp (Dec 01, 2008 7:11 pm) You make a good point. That's why IMHO Wagoner is the only one who should be fired. He's clearly been in charge long enough and is not the right person to turn this around.
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Replying to: tlong (Dec 01, 2008 10:04 pm) Gotta agree. But CAR is not just made up of economists. They are a group of professors and engineers steeped in the car business and how it works. They know more about the auto business than anyone outside the companies themselves. |
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Replying to: tlong (Dec 01, 2008 10:12 pm) Now that makes sense. While I think that Wagoner did about all he could he is the only one that should be asked to leave. Most of those Congress who made comments are idiots on what is going on and grandstanding and have no idea what they are talking about. Truly disgusting point in our countries history. But if they are truly representing the thoughts of their constituents then so be it. Hearings been delayed til Thursday. |
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Replying to: kernick (Dec 01, 2008 6:38 pm) "Best minds in Washington." That's a great oxymoron. And it's going to get worse Jan 20. >Is this guy a PhD in economics? Actually all the PhDs don't seem to have served well in economics, have they. |
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