Auto Industry Bailout

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diehardbiker said:
Yes, that is right, but why again?

My concern is that our Uncle Sam is ALREADY into real deep debt, there is consequences there and if we continue to bail out and may not get it back, we will be in deep S.... oh nevermind... hope you get it.
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That's true. Thanks to the $750+ billion bailout, America is looking for more money to cover the Iraq war, unemployment, etc.
 
Tousi said:
I am not sure what to think about this. I remember when the government aided Chrysler and Chrysler re-paid the money.

Maybe the bail out details will call for paying it back in the future....
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I agree with you on this one.

Part of me says 'NO' to the bailout--they need to learn their lesson.

Part of me says 'YES' to the bailout as for every employee that is employed by the automakers--they support 5 other people. For example: Let's say Ford employs 50,000 people. 50,000 x 5 = 250,000 people that are affected by Ford's layoff.

The 'domino affect'.

Do we really need that many people laid off? No.
 
Even with bail out, there will be massive lay-offs no matter what. Why? Most plants there are making just SUV, and gas guzzling vehicles not much making smaller cars, so therefore its moot point to bail out anyway. Irreversible damage is already done. No one is immune to this mess.

It already happened to Chrysler, they have made massive lay-offs after bailed out back in 1980's. They then start off as smaller company and grown to bigger once again.

Bankruptcy is best option, IMHO.


Byrdie714 said:
I agree with you on this one.

Part of me says 'NO' to the bailout--they need to learn their lesson.

Part of me says 'YES' to the bailout as for every employee that is employed by the automakers--they support 5 other people. For example: Let's say Ford employs 50,000 people. 50,000 x 5 = 250,000 people that are affected by Ford's layoff.

The 'domino affect'.

Do we really need that many people laid off? No.
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diehardbiker said:
Even with bail out, there will be massive lay-offs no matter what. Why? Most plants there are making just SUV, and gas guzzling vehicles not much making smaller cars, so therefore its moot point to bail out anyway. Irreversible damage is already done. No one is immune to this mess.

It already happened to Chrysler, they have made massive lay-offs after bailed out back in 1980's. They then start off as smaller company and grown to bigger once again.

Bankruptcy is best option, IMHO.
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Again....

Byrdie714 said:
I agree with you on this one.

Part of me says 'NO' to the bailout--they need to learn their lesson.

Part of me says 'YES' to the bailout as for every employee that is employed by the automakers--they support 5 other people. For example: Let's say Ford employs 50,000 people. 50,000 x 5 = 250,000 people that are affected by Ford's layoff.

The 'domino affect'.

Do we really need that many people laid off? No.
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Of course we hate lay offs, I understand what you mean. Sometimes lay off is really necessary.

To those people who works for SUV and gas guzzling plant, can we afford keep them working in these plants?

We already have several people working in subcompact and gas miser plants, these are the ones that won't be seriously affect with mass lay offs,

Bail out = less painful for investors, more government debts, plant closures and massive lay offs.

Bankruptcy = investors losing money, plant closures, and massive lay offs

Which is better?

Seriously, there are several financial decisions among automakers that has been made by who? Of course, investors! Investors made bad decision, should we save them from making bad decisions, eh eh?
 
General Motors won't fail. Bush will throw together a package to avert yet another financial fiasco before he slinks off in January. Pelosi and her ilk will push for passage to preserve their power base, which has over three million unionized GM voters. Ah well.
 
i hope they dont do anything for those worthless pieces of crap. Most american automaking companies are greedy stubborn jackasses who put out lemon after lemon and label them new. Not to mention completely ignoring the future when it came to automobiles so what comes around, goes around. Fuck 'em.
 
Well, theres nothing we can do about gm, chrysler or ford going in huge debt. Its the idiots who run the company with a bad stragecy and we dont need to help them out because govt dont help the citizens with a better lifestyle but focus on the war and other stuff.
 
I repeat -

Jiro said:
oh btw - if you're wondering why American cars STILL lag behind in fuel efficiency while other countries are already 3-4x more efficient? Take a guess on who are one of the major shareholders of American automakers...
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Jiro said:
I repeat -
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Ummm, China? I saw this article that makes me wonder.
"General Motors Corp. plans to increase its stake in its thriving joint venture with Chinese automakers SAIC and Wuling Automobile, media reports said Wednesday, citing a senior SAIC executive."
Report: GM to up stake in Chinese joint venture - Nov. 12, 2008

We all know how recent "rescue" dollars have been allocated in the financial sector, so let me make a wild guess where GM will spend their funds.
 
guess again....
 
Beowulf said:
General Motors won't fail. Bush will throw together a package to avert yet another financial fiasco before he slinks off in January. Pelosi and her ilk will push for passage to preserve their power base, which has over three million unionized GM voters. Ah well.
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I'm sure he is thinking about it; Obama encouraged him to do this bailout when he and his family visited the White House the other day.
 
Jiro said:
c'mon! don't stop guessing! start naming a name!
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Lol, okayyyyy. Hmmm, I googled and found that Kirk Kickorian is the largest individual shareholder, dunno how many percent yet. State Street Corp. owns the biggest stake in GM, with 15.4 percent of its shares outstanding. They added 400,000 shares last quarter.

Still guessing here since I cannot find mention of any oil companies being shareholders...Mobile?
 
Tousi said:
I'm sure he is thinking about it; Obama encouraged him to do this bailout when he and his family visited the White House the other day.
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That wouldn't surprise me given the present financial climate, lol. I really wonder of those two guys are not telling us the full truth about this. I know Obama is a greenhorn in Washington and is still being shown the ropes, but I think (in MY opinion) that he will keep his mouth shut since it could cause mass panic or even an international one.
 
Since Obama drives a Ford Escape hybrid, so it is possible he will do something to enforce companies to go green and reduce gas guzzling suvs, even the hybrid large suvs still no good.
 
sequoias said:
Since Obama drives a Ford Escape hybrid, so it is possible he will do something to enforce companies to go green and reduce gas guzzling suvs, even the hybrid large suvs still no good.
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When he and his family were at the White House the other day, he strongly encouraged the bailout with the PROVISO that the Big Three make significant increases in the gas mileage factor.
 
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