US Auto bailout rejected
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- designbot0
Right, it really is sad. I feel for the families that will be affected. Having kids myself, I can't imagine what it must be like to be the only income for your family and lose your job.
Hopefully this will drive real innovation and spark some entrepreneurs to start their own businesses. There is also potentially an incredible future for this country in alternative fuels and other renewable energy....and of course automobiles that utilize these. And so, I think this failure has the potential to produce a surge of jobs this way in the future. But it will not happen overnight, of course.
- TheBlueOne0
Cheney weighs in:
"Bush personally lobbied recalcitrant Senate Republicans after Vice President Dick Cheney failed to round up support Wednesday during a contentious two-hour meeting.
"If we don't do this, we will be known as the party of Herbert Hoover forever," Cheney told them, according to a Senate Republican aide, evoking the president whose inaction is widely blamed for helping trigger the Great Depression in the early 1930s. "
- What a wiener.designbot
- it's a little late to be trying to reclaim your reputation, you dick.monkeyshine
- "known as the party of Hoover forever"... No, you will always be know as the Bush party forever.IRNlun6
- TheBlueOne0
Oh well...
"GM to cut 250,000 vehicles from 1Q production
3 hours ago
DETROIT (AP) — General Motors Corp. says it will cut another 250,000 vehicles from its first-quarter production schedule by temporarily closing 21 factories across North America.
The move affects most plants in the U.S., Canada and Mexico. Many will be shut down for the whole month of January.
Spokesman Tony Sapienza said normal production would be around 750,000 cars and trucks for the quarter."
http://www.google.com/hostednews…
And whither the Dealers?
http://www.kentucky.com/179/stor…
- fyoucher10
Gonna miss the Caddy's.... :( They are awesome and well-made cars despite some of the posts about American made cars.
- 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
- brandelec0
may be renewable energy will create 2 million jobs
- janne760
it's the companies own responsibility imho.
do not reward bad management with tax money.won't happen to me either.
- CALLES0
so trnasformers are going to be toyotas and hondas? they cant pay for the movie right?
- designbot0
^ pretty funny actually....that at this point he is actually concerned about reputation...haha....much too late Mr.Cheney you have entered the realm of permanent douchebagery.
- designbot0
ukit, with all do respect, I don't see anyone in here "cheering" that this bailout didn't get passed....or that these automobile manufacturers are going to fail.
I think most people realize that either way this went, there are potentially harsh consequences. The question is, which is the better solution.
- ETM0
I think American cars... well GM and Ford anyway, have really been working hard to make better, more efficient cars. Ford especially has been showing some effort. Problem is they keep copying what Asian car companies are doing rather than innovating. So yes, they will always be behind that way.
But lets keep in mind, Ford and GM make the most affordable Hybrids right now (Ford Escape and Chevy Malibu). Should be worth something. I see plenty of the Hybrid Escape's on the road here, especially in fleets... couriers and taxis especially. Considering the volume of road time, I am glad to see it.
Biggest issue, is the domestics lose money on every vehicle sale, much because of the unions. Lets not forget all the fat pensions they have to pay out as well. The biggest thing the domestic brands can do, is restructure in a way that can allow them to get rid of the union. Union's are outdated concepts anyway with all the modern labour laws. The US soil Asian makers don't need unions, why do we?
- I think Chrysler still makes major crap and if 1 has to go, it's them.ETM
- gustavfive0
So if GM, etc. fails, what is going to happen with the law of supply and demand? from a steel and computer standpoint... won't that spike the prices for Toyota and other manufactures?
Not to mentions DrB's point about unemployment... I'm not for the bailout for the CEO's benefit, I want it for the worker
- 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
- monkeyshine0
First off, I don't see anyone cheering for the demise of these companies. However, I think it is very wishful thinking to believe that this bail out will stop layoffs. There are going to be layoffs. And, as it stands now, it seems that this bail out is just creating this illusion that everything is going to be okay. The auto industry has no plan other than more of the same. They have no viable business plan.
I'm not saying that nothing should be done; obviously something has to happen...I just don't believe the auto industry should be written a check to go be as incompetent as they have been.
- I guess what I am saying is that bailing them out seems like the better of bad options...ukit
- well there was this one http://www.qbn.com/t…ian
- ETM0
Also stop saying on US companies make BIG cars. Didn't Toyota just bring out the full size Tundra. Nissan has the Titan. Even Honda has the smaller Ridgeline. And the Asian makers make some hefty SUVs as well. Yes, they're playing to the US market demands, but that still makes them guilty of manufacturing such behemoths.
- 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
- BonSeff0
Do you really think this shit will be Unionized?
http://www.theautochannel.com/ne…