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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: 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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Replying to: kernick (Jan 16, 2009 1:39 pm) I recall reading that it would take something like 20 years of record profits for GM to ever repay ALL of its debt (not just the government "loans" - remember, GM was already up to its eyeballs in debt before it received its financial aid package). There was an interesting article on another website - it said that just as the U.S. needs an "exit strategy for Iraq, the Obama Administration needs to develop an exit strategy for Detroit. The article basically advocated cutting off all aid until the dealers, bondholders, union and shareholders reach an agreement that will truly make the company viable. That means a drastic revamping of the UAW contract, a cramdown of current debt, and elimination of all divisions except Chevrolet and Cadillac (personally, I'd also keep Buick and GMC, but then can the rest). It would basically be a bankruptcy in everything but name only, but done under government supervision. Which is really what GM needs, because based on the pathetic "plan" released by GM in the wake of those Congressional hearings, we are about to witness the creation of American Leyland, right here in the good old U.S. of A. - courtesy of our tax dollars.
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Replying to: grbeck (Jan 22, 2009 1:23 pm) Knowledgeable investors are putting their money elsewhere. We taxpayers should do no less.
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Replying to: euphonium (Jan 22, 2009 2:16 pm)
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Replying to: tayl0rd (Jan 22, 2009 11:53 am)  Regards, OW |
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...We''ll give you more time to make a case for more cash. Make sure that you point to the huge demand destruction we face each week since we approved the first batch of loans. Don't worry about the salaries. You might have to axe Wagoner to make it look good Regards, OW |
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Replying to: fintail (Jan 22, 2009 3:38 pm)
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