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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: fezo (Jan 16, 2009 12:29 pm) "Let me look into my crystal ball. A friend comes over to see me in my new house financed by your company. My friend says to me, 'What a beautiful house you have, Lemko!' I say, 'Thank you! Let me show you around! There's my milk crate entertainment center complete with a Philco black and white portable, my Sears all-in-one AM/FM 8-track stereo and all my K-tel cartridges. In here is my cable spool kitchen table with expended beer kegs for seats, if you look in front of my huge 3-car garage you'll see my orange 1973 hatchback with the brown door. Would you like some dinner? I've got ramen noodles and a six-pack of OId Milwaukee! Oops, sorry! I'm late for my third job at Wal~Mart!"
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Replying to: lemko (Jan 16, 2009 12:54 pm)
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Replying to: fezo (Jan 16, 2009 1:03 pm) Philly didn't experience the housing bubble like places like Los Angeles, Phoenix, Miami, or Las Vegas. Some places in the nicer suburbs got ridiculous and I shunned them like an ebola-infested gorilla! Today, I pass all those formerly pricy places and they have one thing in common - For Sale signs. My current mortgage+homeowner's insurance+taxes payment is < $1,000! I just hope my current 'hood doesn't suffer the same fate as my old one. The good thing is, they are actually building new homes in my neighborhood that start at $300K! Good luck finding buyers in this economic climate! |
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Replying to: lemko (Jan 16, 2009 12:54 pm)  If the appraisal wasn't high enough for all your furniture, then you would get some high limit credit cards; because after all you're the type of person who could afford an expensive house. Either they were a bunch of crooks, or idiots; OR both.  Now has anyone here figured out how long it will take for GM and Chrysler to payback the loans. Do a best-case study - taking the highest profit either had in the last 10 years, and figuring they'll make 50% of that each year on average going forward (so if GM made 2 billion in their best year, let's say GM makes $1B every year from now on). Also consider this. Stockholders buy a stock to share in the profits. If all GM's profits go to repay the loan, why is anyone going to want GM stock for years? |
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Replying to: kernick (Jan 16, 2009 1:39 pm) The type who can "afford" an expensive house are usually the type who can "afford" to buy a big blingy SUV with the wheels that keep on spinnin' and spinnin' and spinnin'! |
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Replying to: kernick (Jan 16, 2009 1:39 pm)
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Replying to: xrunner2 (Jan 16, 2009 2:53 pm) I noticed the shows on flipping started carrying a disclaimer on one cable network and there aren't many of them anymore. For a while last summer and early fall they were everywhere. People were buying on loans to spend a few weeks or months rebuilding a house and then sell it for a profit.!!! |
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Good riddens to Circuit City, they were on my ****list along with Chrysler. Best Buy is on the list too, but they are the last man standing really, with no competition in southern California it looks like. I think the Mom & Pop electronic stores can now make a comeback, as we come full circle, or will it be the internet shops that take over? But where will people go and look at the merchandise, test it out, since there are no more physical stores? All the frugal people out there did the smart thing and went to the store to figure out what was best, but then got online and saved 25% for the same product they tested in the store. Obama needs to give the people the money, forget about the horrible corporations and businesses like the Big 3.
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Replying to: andres3 (Jan 21, 2009 12:55 pm) this can happen with in store merchanise too. we bought a phone that would not recognize the remote units. it fiddling with it, i found out the caller id memory full. it looked like this phone had been by at least 3 other people. oh, this is about the B3 automakers. |
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Replying to: xrunner2 (Jan 16, 2009 2:53 pm) If not now, when? If not here, where? If not me, who? If not this, what? If not this way, how? If not for this reason, why? 
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