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Automotive News & Views Do You Favor A Government Loan To The Detroit 3?
3958 messages, Last post on Oct 02, 2009 at 4:52 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: nippononly (Dec 02, 2008 6:49 am) I give more kudos to Ford for one simple reason: GM is still planning. Ford is actually doing it. |
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Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when the Detroit Three automakers' CEOs appear before lawmakers this week to request $25 billion in government loans. Ford CEO Alan Mulally said he'll work for $1 per year if the company has to take any government loan money. http://news.yahoo.com/s/ap/20081202/ap_on_go_co/meltdown_autos |
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Replying to: dave8697 (Dec 02, 2008 8:29 am) Dave, you really need to get out more, or read more car reviews.  Road&Track is my favorite. The turbo 4's in the Solstice and Cobalt are making 260hp from a 2.0L engine. My Mazda makes close to 300ft-lb of torque also. I was thinking of an HHR SS before I bought the Mazda, but the lack of AWD was a killer for my 15-degree driveway. And the HHR was recalled because they needed to fit side-curtain airbags which weren't standard then to make the crash-test respectable.
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Mr. Reid won't have to have his sensibilities offended by BO of the tourists (constituents?) who tour the capital building now that the visitor center is finished. It costs THREE times the original--government control anyone? I don't picture Thomas Jefferson or George Washington being offended by BO from their constituents. These are the people complaining about flying to DC by automaker executives... http://www.dcexaminer.com/opinion/blogs/YeasandNays/Reid_We_wont_smell_the_touri- - sts_anymore_12_02_2008.html Reid: We won't smell the tourists anymore By Jeff Dufour and Patrick Gavin POSTED December 2, 2008 | 11:00 AM The Capitol Visitors Center, which opened this morning, may have tripled its original budget and fallen years behind schedule, but Senate Majority Leader Harry Reid found a silver lining for members of Congress: tourists won't offend them with their B.O. anymore. "My staff tells me not to say this, but I'm going to say it anyway," said Reid in his remarks. "In the summer because of the heat and high humidity, you could literally smell the tourists coming into the Capitol. It may be descriptive but it's true." But it's no longer going to be true, noted Reid, thanks to the air conditioned, indoor space. And that's not all. "We have many bathrooms here, as you can see," Reid continued. "Souvenirs are available." |
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Replying to: xrunner2 (Dec 02, 2008 8:02 am)
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Replying to: lemko (Dec 02, 2008 9:57 am) Ford, Rivals Stress New Parsimony to Congress GM's plan will surface later today. |
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Replying to: dave8697 (Dec 02, 2008 8:29 am) Two words - Turbo Charged |
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| The Big Three's solution to downsizing and its never-ending job losses? For the past 24 years, all three U.S. automakers had tens of thousands of "workers" sitting in job banks, watching TV, playing cards and collecting 90 percent of their pay. Asks University of Maryland business professor Peter Morici, "Why should a waitress in Indiana have her tax money sent to Detroit to subsidize that?" | |
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if closing Oldsmobile only cost $1 billion, then the bailout could go to closing five brands at GM (assuming Hummer is already sold as had been hinted at earlier this summer) and two at Ford. That's only $7 billion. Cerberus is private, NO taxpayer money to them, no way. Spend another $1 billion closing down 2000 each of the excess Ford and Chevy dealers (both currently near a count of 4000, possibly higher for Chevy, if I am correctly informed). Lay off all the corresponding Ford and GM hourly employees and 2/3 of the executive staff, pay them a year's severance (that's for hourly employees only, who would be barred from claiming unemployment, salaried executives get only 3 months), there's another $10 billion. We've only spent $18 billion and we have right-sized GM and Ford! Trickle out the remaining $7 billion propping up suddenly beleaguered suppliers for 2 years.
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Replying to: nippononly (Dec 02, 2008 12:47 pm) Now the problem with a small GM and Ford is that they still have the commitment to LARGE # of retirees. The reduction in size has not reduced the $'s going to the pension funds. So this gets passed on to the cost of each car, increasing the cost of each car, which increases prices and make them even LESS competitive, which decreases sales more ... no profits in sight, at least $25B spent, and they close it up in the spring or early summer '09. I'm against any loan even as you describe though. Why spend $25B in taxpayer money to give it to well-paid people who screwed up for many years, to leave a company that otherwise would fold up? Why should Joe the Plumber who only gets his unemployment check if laid off, put up his tax-money to give all this money to someone else? Forced charity?! I definitely agree even if a loan is approved somehow; that not 1 cent should go to privately held Chrysler. Cerberus and their family of companies can transfer the $ to Chrysler. |
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