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Originally Posted by 4.6is Ryder
So do you think saving the "Blue oval jar" will keep bread on your table long term? I think one of the major issues we nea sayers have is that these companies have a track record of failing. Not only that, but they haven't disclosed any future plans that would make me (a tax payer) think things would be different after the check is cashed. One of the CEO's has already stated that leaving his company would make no sense. So with that being said, he should go down with the ship. To me, this is not much different from Enron. Enron had a great product but had white collar criminals running the place. The "Big 3" have a bad product and white collar criminals running the place. We didn't save the non-unionized Enron, so why save these guys and the union that wants it all. Yes I understand all of the people they employee and the people their subs employee. During a chpt 11 everyone won't be out of work. If we give up the loot and they fail 60 days from now, what's the difference. They should reorganize as soon as possible........ Phil
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Saving Ford? Yes. Bailing them out? Not so much. I am all for reorganization. Had the industry begun retooling their factories to meet todays interest and demand, I would be more inclined to agree with a bailout. If they could articulate their plans for the money and a timeline for ROI, I would quickly say yes to a bailout. $25 billion would be gone in a blink of an eye. I think the industry is scared to ask for what would it would really cost to save the big 3.
Out of the three, Ford is in a better position than Chevy and Chrysler to make the turn towards recovery with their current product offerings. They have also sold some of the dead weight that were causing them to bleed money, Land Rover and Jaguar. They need to keep Mazda, IMO, and improve on its quality and appeal. Mazda is a good entry level, mid size, overall fuel efficient brand. Volvo, I haven't decided. Its a great product.
You still have Ford Motor Credit, GMAC and (what ever Chrysler's financial division is) to worry about. They can hardly afford to finance sales of their own products.