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post #1 of 13 (permalink) Old 12-03-2008, 09:38 PM Thread Starter
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More smoke and mirrors

I thought this was funny about the big 3:
Quote:
There was also anger that all three had flown to Washington for the hearings in separate corporate jets -- more proof of the excesses of the CEO lifestyle.

The automakers tried to reshape their image with several symbolic concessions.

Ford and GM will get rid of their company airplanes and all three chief executives will work for salaries of one dollar a year. They also drove to Washington in hybrid vehicles.

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post #2 of 13 (permalink) Old 12-03-2008, 09:40 PM
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It's what everyone was complaining about. They fixed it and now ya'll are complaining again? Jesus.

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post #3 of 13 (permalink) Old 12-03-2008, 09:42 PM Thread Starter
Cummins > Powerstroke
 
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Quote:
Originally Posted by SOHC
It's what everyone was complaining about. They fixed it and now ya'll are complaining again? Jesus.
I thought it was hilarious... trying to redeem themselves. I wouldnt be caught dead in a hybrid

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post #4 of 13 (permalink) Old 12-03-2008, 09:43 PM
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I'm sure it is smoke and mirrors, but at least they are on their knees begging for money even though they have their fingers crossed behind their backs. With AIG they partied like Rock Stars and after pissing on the American Tax Payer's front lawn they had to balls to show up hung over and ask for another 40 billion.

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post #5 of 13 (permalink) Old 12-04-2008, 08:48 AM
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I'm sure the private equity fund that owns Chrysler has their own jets. I'm wondering if they should sell those.
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post #6 of 13 (permalink) Old 12-04-2008, 09:14 AM
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So they got rid of the planes.. They'll just start chartering jets.

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post #7 of 13 (permalink) Old 12-04-2008, 09:22 AM
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There has been more talk lately of a prepack bankruptcy for GM and chrysler. People are apparently paying attention; the uaw is now talking about contract modifications and concessions whereas a couple of weeks ago they said there would be none, and the CEOs are driving to washington now instead of flying after agreeing to $1/year salary. I think that the realization of the possibility of deep shit/no government bailout happening has descended on detroit.
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post #8 of 13 (permalink) Old 12-04-2008, 09:39 AM
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I don't believe in bailouts but if we can give 700 billion dollars to banks who produce nothing but more bad loans. I think we can loan 25-34 billion to automakers who create millions of jobs and a product within our country. They are going to be required to pay it back correct? Didn't we do this for Dodge back in like the 70's? Isn't that why they were not in nascar until they repayed their debt.

Give them the bailout with strict guidlines on what money can be used for hold them accountable for the loan. Don't give all money at once. Make them show how much is needed when and give it out when needed. Get rid of the unions and pay a bolt pusher what they deserve. Cut down on diff brands under each company to reduce inventory.
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post #9 of 13 (permalink) Old 12-04-2008, 09:47 AM
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These guys need to just quit begging for handouts and start preparing for the worst. I don't believe they should be entitled to any bailout, let them fall and start from the ground back up.
Over priced vehicles, some of poor quality isn't going to sell...look at sales now, last month was horrible for all car manufacturers.
And when they took polls of regular american's in regards to should they get a bailout around 60% said no...like 53% from the Detriot area itself. That says alot when coming from people, not just politics.

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post #10 of 13 (permalink) Old 12-04-2008, 09:54 AM Thread Starter
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Quote:
Originally Posted by mustangguy289
I don't believe in bailouts but if we can give 700 billion dollars to banks who produce nothing but more bad loans. I think we can loan 25-34 billion to automakers who create millions of jobs and a product within our country. They are going to be required to pay it back correct? Didn't we do this for Dodge back in like the 70's? Isn't that why they were not in nascar until they repayed their debt.

Give them the bailout with strict guidlines on what money can be used for hold them accountable for the loan. Don't give all money at once. Make them show how much is needed when and give it out when needed. Get rid of the unions and pay a bolt pusher what they deserve. Cut down on diff brands under each company to reduce inventory.
without bankruptcy, they cannot negate the union contracts. Unless the UAW is willing to allow a drop in pay, it will not happen.

Im not really for bailling them out because I feel they are still going to be a sinking ship. With labor costs staying where they are, and the credit crisis not changing, what will change? It is going to take a lot more money than they are asking for (just like AIG). GM wanted $18billion... they are burning through cash at $3 billion per month. Do you really think that in 6 months that everything is going to turn around and they will be ok again? I give them 4 months after a bailout they will be begging for another $18 billion.

Our credit crisis and bank lending practices are not going to change that fast. Unemployment rates are going up and up and less and less people will be buying new cars. This will keep GM a sinking ship

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post #11 of 13 (permalink) Old 12-04-2008, 10:02 AM
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I think that they need to go thru chapter 11 to get rid of a lot of costs. I don't see how they can operate competitively without doing so, and i'd be against giving them the money without bankruptcy.

Also, i'm guessing it is probably a lot cheaper to give them money now and keep them afloat rather than have them go under and then have to pay for their pensions and massive unemployment that will surely follow.
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post #12 of 13 (permalink) Old 12-04-2008, 09:16 PM
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Quote:
Originally Posted by 8mpg
I thought this was funny about the big 3

There was also anger that all three had flown to Washington for the hearings in separate corporate jets -- more proof of the excesses of the CEO lifestyle.

The automakers tried to reshape their image with several symbolic concessions.

Ford and GM will get rid of their company airplanes and all three chief executives will work for salaries of one dollar a year. They also drove to Washington in hybrid vehicles. :
How about all the assholes in DC work for a dollar a year and get rid of their personal jets. That would save us a ton of money!

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post #13 of 13 (permalink) Old 12-04-2008, 11:31 PM
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Quote:
Originally Posted by mopar63
How about all the assholes in DC work for a dollar a year and get rid of their personal jets. That would save us a ton of money!

Now THAT'S change I can believe in
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