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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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Now the TV Networks are saying they need to be bailed out. They have been losing advertising over the last two decades. Now as Automakers cut back on Advertising it will be devastating to them as well. I cannot think of a better thing to happen in this country than for TV stations to go broke and quit broadcasting. There is NOTHING on TV worth the electricity to watch it. 2009 may be a banner year yet. Get rid of junky automakers and network TV. http://www.variety.com/VR1117996347.html
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Replying to: steve_ (Nov 23, 2008 7:34 pm) Because I sold my GM at $27 and I bought Citi Group when I thought it had bottomed out. I was going to buy more at under $4. Probably too late. There is a BIG difference between keeping the money sound and subsidizing automakers that are not going to be profitable. Giving a loan is bad enough. We are talking a gift to GM. That is anti business. Why not every other automaker building cars in the USA. If we subsidize GM we should subsidize Toyota as well. They are both multi national corporations. How do we know that GM has not siphoned off billions here to build up their China operations? Then tell the public we are hurting and it is all because we were stupid and promised our UAW employees the moon. |
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From the looks of this photo essay, it looks as though Detroit is just about to become one big park. Best to bulldoze all the buildings and get a grant from the National Park Service. Give it back to the pigeons and coyotes. Detroit is far greener than most major cities, as seen in the runaway vines swarming old mansions in Brush Park, trees sprouting from the rooftops of skyscrapers, tallgrass fields encircling the lone house still standing on a residential block, and abandoned homes swallowed by shrubs thriving unchecked. Whole neighorhood blocks cleared of houses by arson and bulldozers have reverted to urban prairies, visible in satellite photos as unusually large green patches in the middle of the inner city. Sidewalks vanish beneath creeping grasses, while aluminum fences between homes become entwined with the branches of dozens of saplings growing as high as the droopy utility wires. Alleys in parts of the city start resembling hiking trails as growth from the yards on both sides narrows their width. All around town, even smaller empty lots become thick, grassy fields, because the City doesn’t often mow in easements and right-of-way areas, allowing weeds to grow 3 feet high. Throughout Detroit, as half the population fled in the last half-century outward towards the suburbs and later towards more rural areas, the city itself has, ironically, become more rural, with wild animals and lush green plants coexisting with an industrial, modern metropolis. http://www.detroitblog.org/?p=287
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Replying to: steve_ (Nov 23, 2008 7:34 pm) The Lexus stuff was always in Toyota. They started "decontenting" (another word for cheapening), Toyota and made us believe Lexus was higher quality. Look back at the Toyota Cressida, that was the precursor of Lexus imho.
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Replying to: gagrice (Nov 23, 2008 9:20 pm) Too much violence and too many stupid reality TV shows and infomercials. As for the news media, how many stations do we need repeating the same news at the same time? Maybe the market can no longer sustain so many TV networks and local stations. Yes.... lets blame that on GM and the banking industry too. 
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Replying to: gagrice (Nov 23, 2008 9:42 pm) I went to the Michigan State Fair long ago while visiting in Detroit while working in Michigan. A grad school acquaintance worked for Ford during the summer and he showed me around the town. It's amazing what incompetent management and city leaders can do for a town while expecting handouts from others and giving themselves the benefits through the decades. The recent mayor got caught. Who's the mayor now? Do they have city leaders willing to make residents behave? Or is it more of the same lifestyle? |
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Replying to: steve_ (Nov 23, 2008 7:34 pm) 1) Because Citi has about 3,000 Billion $ in assets and liabilities; that would be very bad for trillions of other $ of investments if they fail. Citi's commitments are far beyond the entire wealth of EVERY auto maker put together. 2) Citi typically makes money each year, whereas the Big3 typically don't; and with the Big3's market share continuing to decline each year, it is unlikely they will ever make $ again - even with a bailout. Citi will make $ to repay the loan, the Big3 have a snowball in hell's chance.
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Replying to: kernick (Nov 24, 2008 5:13 am) And they are highly over leveraged. Just like the over leveraging of mortgage packages, borrowing against them multiply times their pittance of value, Citi is probably all paper, just like the oil price boom was which the government DIDN'T control. I'm in favor of keeping jobs rather than helping Citi avoid being exposed as a fraudulent paper factory. The problem is the congress and others were instrumental in helping set up this paper factory economy, and they are happy to use our money to help cover the paper so that eventually congress and friends won't be exposed as the culprits of the worthless paper mill leading to the depression.
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Replying to: tired_old_dave (Nov 22, 2008 11:39 am)
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From the Philadelphia newspaper: Alternative Worse |
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