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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

What is this discussion about? Legislation


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#3895 of 3958
Re: Why businesses fail [steve_] by gagrice
May 13, 2009 (4:51 am)
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Replying to: steve_ (May 12, 2009 9:38 pm)

I thought I was going to be rich when "F" hit 6 bucks. Oh well, I am still doing well on it. It has helped my sickly 401K. I am not sure how they can just decide to issue more stock. Seems so underhanded. I really gave up trying to figure out the market years ago. Let Fidelity worry about it. I do much better buying and selling real estate. Anyone like to buy the Renaissance Center in Detroit? Good long term tenants.
#3896 of 3958
Re: Why businesses fail [gagrice] by lemko
May 13, 2009 (6:41 am)
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Replying to: gagrice (May 13, 2009 4:51 am)

Renaissance Center? They should've called it the "False Dawn." Look for Detroit to become like cities on the show "Life After People." It'll give us an idea of what happens to an abandoned city without the aid of computer graphics.
#3897 of 3958
Re: Why businesses fail [lemko] by ruking1
May 13, 2009 (6:54 am)
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Replying to: lemko (May 13, 2009 6:41 am)

Indeed ! Sadly( - my .02cents) or happily, that has been happening across America for many many years. Why should cities be spared?
 
Given our short history as a nation, since "1776" 233 years, it has been more of an ongoing process, rather than a more recent phenon.
 
But it is interesting that the urban boundary around Washington DC, as grown almost exponentially during the same time.
#3898 of 3958
Re: Why businesses fail [ruking1] by xrunner2
May 13, 2009 (7:02 am)
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Replying to: ruking1 (May 13, 2009 6:54 am)

But it is interesting that the urban boundary around Washington DC, as grown almost exponentially during the same time.
 
The new guy in the white house will be adding tens of thousands of jobs there according to recent news accounts. Suppose many of these will be to "help" the automakers and to monitor, track the government "loans" to the Detroit 2.
#3899 of 3958
Re: Why businesses fail [ruking1] by lemko
May 13, 2009 (7:03 am)
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Replying to: ruking1 (May 13, 2009 6:54 am)

Youngstown, Ohio is already demolishing vacant areas of the city and moving the few remaining residents of those areas into more populated spots.
 
This is what the South Bronx in NYC looked like by 1975:
 

 
This is what a lot of parts of once-thriving North Philly now look like.
#3900 of 3958
Re: Why businesses fail [lemko] by gagrice
May 13, 2009 (7:49 am)
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Replying to: lemko (May 13, 2009 7:03 am)

I don't consider living in a high rise as thriving. Anything less than an acre around me is an abomination. Living that close to other people is just not healthy, physically or mentally. I think the Philadelphia plagues are a prime example.
 
All of Detroit will look similar in the next decade. It proves my idea that spreading out is preferable to cramming together with people you don't even know. There should only be a half dozen homes in the space. Good riddance to the cities. I avoid them at all cost.
 
That will be the next waste of our tax dollars. Building the future slums of America.
#3901 of 3958
. by anythngbutgm
May 13, 2009 (8:08 am)
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Or maybe someone like Trump will swoop in and redevelop the area for cheap $$$.
#3902 of 3958
Re: Why businesses fail [gagrice] by lemko
May 13, 2009 (10:20 am)
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Replying to: gagrice (May 13, 2009 7:49 am)

Shoot, the developers already HAVE built the future slums of America during the last 20 years. Those particle board, styrofoam, and Tyvek McMansions are going to quicky fall apart and into disrepair only to be occupied by the current and future underclass! Heck, it'll probably be more cost-effective to demolish them than try to repair them. You've heard of cars that fall apart by the time you make the last payment? These crumby houses made of crumby materials and inept illegal alien labor won't last until the last mortgage payment! Half a million $ doesn't buy what it used to! My circa 1955 Airlite will be standing long after the last 2006 McMansion has collapsed in on itself!
 
North Philly - Coming to a suburban development near you soon!
#3903 of 3958
Re: Why businesses fail [gagrice] by ruking1
May 13, 2009 (11:10 am)
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Replying to: gagrice (May 13, 2009 7:49 am)

As a balance, on the other hand that is also true of rural area's. This is slightly oxymoronic in CA's agricultural areas as it has been and in some instances still seen as the bread basket of the world.
 
During the heyday of the (CA) real estate (bubble), CA Central Valley (northern ca), CA was hotter than hot. I personally could not understand it before I went to look. After I went to look I was even more convinced after I had taken a series of hard looks. At the time agricultural unemployment was approaching 25% and literally nobody else was looking to put anything in the area.
 
In addition some "rural" municipalities are following misguided policies of "preserving" pastorial lands (aka looks like bucolic stereotypical "pastorial" lands, but economicall unviable for almost anything that you would want to apply an economic yardstick to.
 
Again the same result, they wonder why the areas are in "arrested economic decay".
#3904 of 3958
Re: Why businesses fail [gagrice] by xrunner2
May 13, 2009 (1:13 pm)
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Replying to: gagrice (May 13, 2009 7:49 am)

I don't consider living in a high rise as thriving. Anything less than an acre around me is an abomination.
 
What about the various Trump Towers and their luxuries? Or, multi-million dollar condos in high rises along Lake Shore Drive in Chicago? The high-rises in Miarmi? Lots of people, mostly big shots, like that. They don't have to worry about cutting grass nor buying parrot beak fiskars.

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