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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: pf_flyer (Nov 20, 2008 6:42 am) |
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Replying to: pf_flyer (Nov 20, 2008 7:04 am) I am willing to bet $25B that their plan will not work. Begging the teacher to change an "F" to an "A" never worked for me. All of a sudden we can give money away to failed businesses???  Regards, OW |
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Replying to: sellaturcica (Nov 20, 2008 7:10 am) Dealerships are already beginning to go under, so the stronger dealers will be the ones left standing when the smoke clears. Survival of the fittest has been happening for centuries and the automotive market is no different in that regard. |
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Replying to: sellaturcica (Nov 20, 2008 7:10 am) A smaller big 3 means a bigger honda, toyota, and 15 other imports. The resources to compete like develop future technology will mot be there, they will be in S. Korea and Japan. Only the big 3 hire college grads and college coops in significant numbers, even though they are but 3 of the 20 automakers now making cars in the US. The GM model was based on continual growth. The US gov't is run the same way. The theory is that population will grow, there will be more car buyers (taxpayers) in the future so you can start a program like a pension ($700B bailout) and finance it with future earnings from car sales to a larger population (future inciome tax from a larger population). Having foreigh car imports is then like deporting taxpayers faster than they are born. The plan starts to fall apart. High gas prices increases the demand for the foreign cars because the media brainwashes us into thinking the foreign car is the only good choice for economy. It certainly is not, but maybe most of us don't want to retain technology development in this country. We want to rely on Asia to provide it to us. When 1 in 10 loses their US auto industry related job and every street in the US has a foreclosure on it, the Japanese car that gets the same mileage as the Focus will be the silver lining?
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Replying to: dave8697 (Nov 20, 2008 7:58 am) Image.....Is everything. Why should I buy a Ford Focus when for the same money and a quantifiable (using Edmunds) difference in depriciation, I can buy a Honda Civic that retains much more of its original value? It's going to be painful, but it's long overdue.
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Replying to: lemko (Nov 19, 2008 10:37 am) Don't forget to include the incredible looking 58 Buick Roadmaster and 58 Olds 98. Modern iteration by GM of these monstrosities was the recent Pontiac Aztek. Best case for not giving a loan to the Big 3 would be a picture show given to Congress of some of their grotesque designs vs the leaner and more purposeful Japanese and German cars in the same eras. Big 3 was beaten in design, engineering and reliability for last 25 years and did not take adequate mesures to catch up, let alone excel, until recently. |
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Replying to: sellaturcica (Nov 19, 2008 3:53 pm) F150 Taurus Ranger Escort E150 Explorer Mustang has always led its segment and is the #1 selling sports car.
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" I believe the only way for this bailout to work is for the government to dictate the terms. First, the government should force GM and Chrysler to merge." The above idea is liberal socialistic answer to a capitalistic system that includes both pleasure and pain. Pain is now being endured. Government stay out, NO bailouts and let the market process run its course. Bankruptcy is the only salve that will ease the pain of tax payers. That retired UAW's get a reduction in their undeserved benefits is part of the capitalistic pain. Get real, get tough, get on with it.  PS. Hardball business is not a "feel good" activity. 
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Replying to: ck90211 (Nov 19, 2008 5:40 pm) The Silverado does not hold a candle to the F150, but that is a whole other discussion for a whole other forum  BTW if you all did not catch it, I don't favor a buy out. If I was positive Ford could survive GM going under I would loudly oppose it. I just don't know what the full ramifications would be. |
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Listening to a UAW presser right now and Gettlefinger is making the case that the bailout has to happen. Something needs to be done. Not ONE WORD about the concessions the UAW is obviously going to have to make, either voluntarily or under court order during a restructuring. You can tell all the sad stories you want about UAW retirees and how the changes in the auto industry are going to hurt people. I want to know what it is that makes a UAW worker so special that they rate feeling no pain. Not to beat an old horse (pun intended) but I imagine the buggy whip makers wanted to continue making as many buggy whips as they always had as well. The difference here is that the auto industry is NOT going away, just undergoing some changing market conditions and adjustments HAVE to be made. On CNBC they just called it "one of the most irritating press conferences" they've ever heard. And asked the question, Why doesn't the UAW accelerate the concession that are supposed to kick in in 2010?" And finally I hear someone ask... When are we going to find out what the changes in the Big Three and the way they operate are going to be? Gettlefinger didn't do anything to help make his case to the public today in my estimation |
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