US Auto bailout rejected
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- designbot
US car bail-out fails in Senate
Reaction from Senate majority leader Harry Reid
A $14bn (£9.4bn) bail-out deal for the US car industry has failed to get Senate support, raising fears of job cuts and a possible industry collapse.
- creez0
good less polution
- drgss0
Die America, die
- What is your major malfunction?QBN
- being norwegian?janne76
- its my "thing"
i keep saying it in every crisis related thread
drgss - that's cause you're an asshole.anxiousarms
- http://www.codinghor…sputnik2
- that's "the america, the" in germanlinearch
- lol leinarch_niko
- drgss0
US hasn't made a decent car since 1970s, and they are 20 years behind asian car manufacturers. One would think they would have woken up when asian cars were becoming more and more popular some years ago, instead they continued making those huge cars with huge motors and 40s technology
Fuck em- ehh exaggerate much?Frosty_spl
- wow, you REALLY are stupid.anxiousarms
- american car industry is going down the tubes. US gov is scraping together the last f tax payers money to bail them outdrgss
- who is stupid?drgss
- do i actually agree with drgss?! say it ain't so!lvl_13
- 40s huh? I could swear my car doesn't have a single barrel carb on it.404NotFound
- Volvo went for shit too. Whats their excuse?danthon
- Extremely high price point. Duh.dMullins
- its a LOAN not a hand out like the credit companies. Christ...do some researchtedismyfav
- danthon, volvo was bought out by Fordmudchicken
- it's not the INDUSTRY that needs saving - it's the THOUSANDS, literally THOUSANDS of people that will be losing jobsmegE
- ... be losing jobs that need savedmegE
- ok_not_ok0
I say merge the companys and start from scratch.
- 3030
drgss, what about new Camaro, new Mustang, new Challenger. Those cars are decent, just interior quality is a crap. The most successful American car is Chrysler Voyager
- if decent means looks good but shitty gas mileage then okdoesnotexist
- how bout a standard jeep cherokee which will run and run and run? maybe not flashy but a solid buildtedismyfav
- doesnotexist0
I had an 1988 chevy cavalier z24 few years back and I could get 35 mpg from it. I am really surprised, and shocked, that newer cars today aren't averaging 50mpg or more
- My sister had one, it was the biggest rattle-trap POS ever. Slowest car I've driven too.
Frosty_spl - nah dude, mine was in good shape. oil was amber when I changed it and it had some kick.doesnotexist
- My sister had one, it was the biggest rattle-trap POS ever. Slowest car I've driven too.
- thebottlerocket0
They probably should fail, but maybe let them fail slowly over the next 4-5 years.
- Frosty_spl0
They get poor mileage because of all the hippies that sue when little sally dies in an accident, because there aren't 20 airbags to protect her. New cars are much safer than 10 years ago, they aren't tin cans anymore.
- True. I read there is as much as 600lbs of safety related weight in some vehicles.ETM
- dog_opus0
Amen. This carte blanche with our money to subsidize the prolongation of sinking ships is absurd. These people can thank the UAW, who can probably count on Senator Obama to push this foolhardy endeavor through once he takes office.
- You're about to feel the onrushing effects of the Free Market. Strap yourself in.TheBlueOne
- 3030
@doesnotexist: if you own one of these (mustang, camaro, challenger) you don't care about fuel consumption, otherwise you can't afford it.
If you can afford expensive sports car, you don't how thirsty is the engine ;)
- exactly my point, they're shit carsdoesnotexist
- it's bad business and bad for the economydoesnotexist
- the english is just appalling in that post.chossy
- janne760
it's the companies own responsibility imho.
do not reward bad management with tax money.won't happen to me either.
- 23kon0
is waiting till jan/feb to buy a new car - they will be GIVING THEM AWAY by then!
:)
- haha, nice plan but i doubt it.anxiousarms
- Actually a car dealership around here is doing a "buy a new car, get a FREE used car" deal. Blew me away.dMullins
- 3030
here is special offer:
http://www.mysuburbanlife.com/br…
- TheBlueOne0
*cough, cough
"General Motors and Chrysler, for example, owe their suppliers a total of roughly $10 billion for parts that have been delivered. G.M. has held off paying them for weeks, and Chrysler is paying in small increments. But the cash shortages at G.M. and Chrysler are getting more severe, according to their top executives and other officials....
Many of their suppliers are teetering on the verge of bankruptcy themselves, and do not have the luxury of extending credit much longer.
“I don’t think that suppliers will be able to get through the month without continued payments on their receivables,” said Neil De Koker, chief executive of the Original Equipment Suppliers Association in Troy, Mich., a trade group.
When suppliers big and small start failing, the flow of parts to every automaker in the country will be disrupted because as suppliers typically sell their products to both American and foreign brands with plants in the United States."
http://www.nytimes.com/2008/12/1…
More businesses fail, more people out of work, more people not paying their bills & mortgages. Wash, rise, repeat.
To quote Han Solo, I have a bad feeling about this.
- But thank god, those Wall street execs got bailed out! Phew!TheBlueOne
- http://www.reuters.c…TheBlueOne
- Right, where's the same outrage over the Wall Street bailout?Mimio
- Japanese automakers use many of the same suppliers...so not really good for them either.monkeyshine
- sputnik20
bailing them out would have been a bandaid on a much larger issue. hopefully they'll start making cars which people will actually want to buy. that being said, i really feel for the people losing their jobs.
- exactly. plus GM employees get $71/hr and US Honda get $45/hr. Fuck GM, they're moronssection_014
- That's all changing with the buyouts of the union guys though. The salaries are more realistic now.Mimio
- yep, it's all union issues. they're outtdated and have hurt the industry terribly.sputnik2
- Mimio0
Get ready to double that unemployment number to 4 million people.
- TheBlueOne0
I'm sooo glad bailing out the banks freed up the credit markets.
That was total win,
- Mimio0
Yes... bully for Paulson on that. I'm so glad we blow $9 billion a month in Iraq.