Last post on Dec 22, 2012 at 8:06 PM
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#3985 of 4024 Re: Just some things to think about. [fezo]
Nov 08, 2011 (7:52 am)
That would've been the perfect time to buy.
#3986 of 4024 Re: Just some things to think about. [lemko]
Nov 08, 2011 (10:35 pm)
We bought in 93 and the market was still low. Even with the current mess we're still at least OK.
#3988 of 4024 Re: dusting this one off [gagrice]
Nov 18, 2011 (5:19 am)
And something that's kept pretty quiet is - GM doesn't have to pay income tax on its first $45B in profit. So they won't be paying any tax until around 2016 - 2020. If they survive that long. Oh yes, I forgot we can't let GM fail and be replaced. We HAVE to have that GM symbol until Infinity and beyond!
God forbid that I couldn't buy a Chevy Impala or Cadillac Escalade.
#3989 of 4024 Re: dusting this one off [kernick]
by steve_ HOST
Nov 18, 2011 (6:38 am)
In related news, there's a Muted Launch For Delphi IPO. (AutoObserver)
"Delphi emerged from a lengthy bankruptcy in 2009, but is drastically downsized from its status as one of the world’s largest automotive suppliers following its spin-off from former owner General Motors Corp. The company once made scores of different components, from complex to trivial, but product lines have been cut by nearly 75 percent and its previous North American orientation, reflected in its origins in GM’s in-house parts-making operations, has been reversed – now more than 90 percent of its workforce is located elsewhere and most of its North American product lines are served by production in Mexico."
Not positive but I think some of Delphi workers just got Pension Benefit Guaranty Corporation benefits when the company went bankrupt, and Delphi wasn't in on the overall auto bailout.
#3990 of 4024 industry-wide rehiring
by steve_ HOST
Dec 01, 2011 (7:49 am)
"Detroit-based automakers will hire more than 30,000 new workers in the next four years, reversing years of declining employment in the ranks of Ford Motor Co., General Motors Co. and the Chrysler Group LLC, said Kristin Dziczek, director of the labor group for the Michigan-based Center for Automotive Research."
Detroit Three Automakers To Hire Thousands In Coming Years (AutoObserver)
#3991 of 4024 Ford is my 1st choice domestically
Dec 01, 2011 (1:50 pm)
I'll be waiting to hear more about the 2013 Ford Escape. The Escape will be made here in the U.S. All else being equal, give Ford the business. Let Ford's market-share become #1, and let GM and Chrysler sell their operations to someone worthy.
Since GM doesn't have to pay income tax for years, let Ford profit more, and the U.S. government will collect more in taxes, getting some of that bailout $ back.
#3992 of 4024 Re: Ford is my 1st choice domestically [kernick]
Dec 02, 2011 (10:20 am)
All else being equal, give Ford the business.
That's my take as well. I traded my Sebring in for a Ranger and when it comes time to replace that, I'll be looking at another Ranger or the Explorer Sport Trac before anything else. My 08 Ranger with 52K miles has been flawless so far.
Kudos to Ford for not taking the bailout.
#3993 of 4024 taking credit, revisionist history or jab at Mitt?
by steve_ HOST
Feb 07, 2012 (6:51 am)
"Former U.S. President George W. Bush told car dealers gathered at a convention in Las Vegas he “didn’t want to gamble” with a depression in defending the loans he gave to General Motors Corp. and Chrysler LLC.
“I didn’t want there to be 21 percent unemployment,” Bush said in a speech yesterday to cap the annual National Automobile Dealers Association convention, attended by more than 20,000 people. “I didn’t want to gamble. I didn’t want history to look back and say, ‘Bush could have done something but chose not to do it.’ And so I said, ‘no depression.’”
Bush Tells Dealers He Avoided ‘Gamble’ in Bailing Out Automakers (Bloomberg)
#3994 of 4024 Re: taking credit, revisionist history or jab at Mitt? [steve_]
Feb 07, 2012 (8:52 am)
President Bush could be right, or wrong, since we'll never know what would have happened had the bailout not occurred. We can only speculate. I'm generally opposed to government bailouts, and without the advantage of forsight, favored letting our bankruptcy laws work. One thing's for sure, and that is that the wisdom of the Detroit two bailout will be argued for decades, with no definitive conclusion.