trop-a-cal
Palm Coast Fl
Senior Member
Joined: 09/24/2007
View Profile
 Offline
|
The US GSB (Government Sponsored Bankruptcy) as proposed by the US congress would allow Chrysler and GM to Merge on conditions. They want them to end up with the leaner line up of Chevy, Cadillac, Buick, and Jeep. The Bankruptcy would set up new management and mandate the day to day operations to cut cost and pay off debts. Chevy trucks would put the Dodge Ram into its line up and the Saturn plants would probably end up producing the Buick Opal, which is big in Europe, with its diesel high MPG engine. No more Generals in General Motors the "G" would be G as in Government. Chrysler equity investors would end up with GM stock which should lay dormant for years until a profit returned. The stock is around $3 US and has no reason to go up with this proposal, as it insures only debts get paid off, no profits will show up for years. Ford is selling its Mazda holdings as it will get some help from the US Congress but that will come later.
|
SRT
Head of the Lakes, MN
Senior Member
Joined: 02/18/2001
View Profile
Offline
|
The remaining Republicans in Congress will probably fight it. There's nothing like a government corporation for inefficiency, IMHO. Nothing like having a non-business oriented employee telling a car company how to build cars. JMT.
SRT
2000 32' HR Vacationer with Banks
1998 Subaru Outback Ltd. 5 spd
Brake Buddy & Blue Ox Aventa II tow bar
FMCA #266040 HRRVC #84109
|
trop-a-cal
Palm Coast Fl
Senior Member
Joined: 09/24/2007
View Profile
Offline
|
The overseeing group may be from Toyota and Honda background, not G men.
|
LtKeefer
USS Caine
New Member
Joined: 08/15/2008
View Profile
Offline
|
Where are you getting this information? In my opinion, the government should let these failing companies fail. Any bailout is only going to delay the inevitable and cost the taxpayers billions at a time we can ill afford.
|
K&R
Oklahoma
Senior Member
Joined: 04/19/2007
View Profile
Offline
|
I say let the chips fall where they may.
|
|
|
donn0128
Pronounced Ore-gun
Senior Member
Joined: 04/21/2005
View Profile
Offline
|
Buy out is one of the dumbest things congress has considered since they voted for the 700 billion bailout plan. Let GM go chapter 11 and reorganize. That is what they need. Break the strangle hold the unions have on them, get out from under the staggering red tape they are straddled with and go lean. That is how the Japanese car companies have been doing it for years and look at where they are today! GM along with the Ford and Chrysler to a lesser degree have been building not what the public wants for years. If they had been listening to our wants and needs there would be no import cars on the roads. There has been bantied around the wages of a typical auto worker at $70. an hour. I do not know if that is true or not, but if it is even close they are grossly overpaid according to the national average prevailing wage for skilled technical work. No wonder the manufacturers are in the tank!
Donn
|
Capt Skup
Southern Maryland/Nantucket
Senior Member
Joined: 05/14/2004
View Profile
|
"Just say NO!" needs to be the slogan on any further bailouts. What is a bailout going to do, allow the further production of autos nobody is buying unless huge incentives are offered? We recently went shopping for a new minivan. Ford doesn't build one, GM doesn't build one, the Chrysler offering is drab and cheap looking. Only players are Honda and Toyota. We chose the Honda. It was full of nice features and over $6,000 less than the comparatively equipped Chrysler Town&Country. The Honda dealer was quite busy(Bowie Honda) and the GM dealer next door had been shut down recently.
Capt Skup
AD-1(AW)USN Ret.
Wonderful Wife, 3 beautiful Daughters
"Never get in a battle of wits with an unarmed man"
2008 F-450 Lariat 4x4
2008 Honda Odyssey EX-L
SunlineF281SR
SeaRay215EC
http://community.webshots.com/user/CaptSkup?vhost=community
|
cruiserjs
Aurora, CO, USA/ Mesa AZ/ openroad
Moderator
Joined: 07/02/2003
View Profile
Offline
|
Rumor mill???
Colorado Cruiser
Cruiser CF29CK 5th wheel; 2001 Silverado 2500HD shortbed
wonderful lifetime travelling companion/spouse
|
wingrider6
Central Illinois
Full Member
Joined: 11/19/2003
View Profile
|
I tend to agree with what's been posted so far--with some reservations. One is the ripple effect if one of the domestic manufacturers going belly up. I wouldn't think I need to list them, everyone should be aware of them. Many point to bankruptcy and the success of airlines in doing that. There is one major problem. If you buy a ticket on an airline that is bankrupt and can't use the ticket your out a few bucks (compared to an auto). If used you pay your money, get on the plane, go to destination and your done with that transaction. Would you buy a car from a bankrupt company? I doubt it, consider the length of the warranty and who may not be there to service it. We have posts on this forum with concerns of RV orphans and they only have one year warranties. I guess I'm not really ready to send all of our vehicle production to Japan yet. Now I would like to see some heavy concession by the UAW, but the president of that mob already said it ain't happen'. Every day I become more and more convinced that we are our own worst enemies. We have a manufacturing problem in this country--that is we have very little manufacturing (re: that manufacturing jobs) because we're more that willing to send them all to China, Japan, Indonesia, Mexico, etc. No TV's (that's televisions) are made here anymore will vehicles be next? Also who is going to build our TV (that's tow vehicles) if the Big 3 go? Not Japan, you can be assured of that. My whole point is think it through before you notify your congressman as to how you want them to vote.
Dave & Dee
2006 40' Open Road
2008 F-350 Dually V-10 4:30
2 yrs USA Big Red One Vietnam Retired USAF
Retired teacher after military
|
K&R
Oklahoma
Senior Member
Joined: 04/19/2007
View Profile
Offline
|
Warranty?....Ha!
Half the stuff that goes wrong with autos they wont fix....sorry...thats not covered.
Let em get out of the mess THEY created on their own.I dont care who goes down their is always gonna be someone making and selling cars.
|
|
|
