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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: chikoo (Nov 27, 2008 8:16 am) Wouldn't you consider that good business sense? My son in law was moved from San Diego to Indiana. They gave him a small raise. His cost of living is about half of what it was here in San Diego. So he is starting to get ahead after 6 months. Where they were always struggling here to make ends meet. The company has much lower cost of doing business. So everyone is happy. Maybe if GM would have closed every old outdated plant when the UAW struck them, they would not be crying for US to give them money. I have NO sympathy for the ignorance at GM over the last 30+ years. Toyota and Honda have given them a close up picture of how to run a successful business and they continued to do it their way. Well let them get out of this mess Their way...
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Replying to: gagrice (Nov 27, 2008 5:32 am) Exactly! I think we've already determined that. The UAW total compensation package what's killing them. Not the hourly wage. Have you seen what the Postal Service workers make? Try walking in their shoes some day. I'm not for bailing out GM and the UAW but their business practices need major overhaul. And I also agree with capping the CEO's pay/ it's obscene what some of these guys make for running companies to the ground. Where do I sign up for one of them jobs?
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Replying to: elroy5 (Nov 27, 2008 8:16 am)
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Replying to: rogeliov (Nov 27, 2008 9:33 am) The agency asked Congress last week to allow it to dip into a trust fund to pay for its retirees’ health care. In addition, the agency plans to cut 100 million work hours this fiscal year, its board of governors announced last week. Both steps illustrate the Postal Service’s dire financial condition: It lost $2.8 billion in 2008, despite slashing nearly $2 billion in expenses. Experts say the 2008 numbers underline the need for more sweeping changes. And they say the next Congress will have to make a tough choice: Either allow the Postal Service to operate more like a business, which could mean numerous facility closures and the end of Saturday delivery, or hand out billions of dollars in subsidies to keep the Postal Service solvent. A postal reform law passed by Congress two years ago accelerated the Postal Service’s financial woes by requiring it to fully fund its retiree health care accounts within 10 years. That means the Postal Service owes $7.7 billion this fiscal year toward its health benefits. Most of the money, $5.4 billion, goes into a trust fund that’s used to pay future benefits; the other $2.3 billion pays the Postal Service’s contribution toward insurance premiums for current retirees. “We no longer believe that payment schedule can be maintained, and we’re seeking relief from some of our health benefit payments,” said Alan Kessler, chairman of the board of governors. “But this relief will not fix our underlying issues.” http://www.federaltimes.com/index.php?S=3821780 |
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might that mean that the price of a stamp could go up to 88 cents?  BTW-internet news from late last night said that Obama is not for giving the automakers a handout, I mean bailout, I mean loan. At least without some kind of definite plan for his Administration. Which popped my mind to this thought: wait a minute, Obama's not President yet!
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Replying to: iluvmysephia1 (Nov 27, 2008 10:09 am) |
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Replying to: dave8697 (Nov 27, 2008 9:47 am) Plus Ford isn't in as bad of shape as GM and Chrysler yet. If those two go banko and actually get concessions and survive, that'll leave Ford at a big disadvantage. I'm not convinced that a bailout is going to help the Big 3 much either though. Perhaps the focus should be on consumers somehow. Buy a car and get a rebate to stimulate the economy and let the consumer choose who survives. Maybe get a bigger kickback for buying a car from a US company with content made in the US. And toss us a bone for trading in and scrapping a gas guzzler or polluter. Oh yeah, a Subaru and a Nissan are parked in my garage.
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Replying to: gagrice (Nov 27, 2008 8:58 am) Well, that makes you consistent in your opinion. That was my point all along. If we are a benevolent enough society to help them rebuild then we should be benevolent enough to help our sagging auto industry to get them through a tough time. The only difference is that GM and the UAW can CHOOSE to be more competitive (which I believe they have begun to do with the 2007 contracts). New Orleans can't CHOOSE to be above sea level, and SF can't CHOOSE to be off a major fault line.
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GM didn't make enough in little 'ole 1998 to justify staying in business and to weather another UAW strike? Jumpin' mexican beans purchased at an Ocean Shores, WA gift shop! |
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Replying to: cooterbfd (Nov 27, 2008 11:18 am) How would you propose we restructure the D3 so that they can not be a sagging industry? Do you think that just a bridge loan is going to be enough? Do you agree with Wagoner that the "restructuring has already been completed" and they just need to wait out the recession to be successful?
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