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  #21  
Old 11-18-2008, 02:48 PM
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I think that the Unions must be part of the solution, they need to freeze wages until the bailout funds are paid back. I think that Federal Government, including Obama, needs to set-up a bailout/loan plan now.
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  #22  
Old 11-18-2008, 03:40 PM
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From NY Times- Dealbook
Good read! Thanks LeMans
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  #23  
Old 11-18-2008, 04:22 PM
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Good read! Thanks LeMans
I change my mind. No bailout for the auto industry.
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  #24  
Old 11-18-2008, 04:28 PM
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I change my mind. No bailout for the auto industry.
I was originally for a bailout. How can we let these companies fail? The resulting loss of jobs would be devastating. The article makes perfect sense though. If we just throw money at them, what will change?

If it was my company, or yours, or anyone elses, we would have to do whatever necessary not to fold. What makes them different?
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  #25  
Old 11-18-2008, 04:31 PM
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Ford just sold a large stake in Mazda, so now its share is down from 33% to 13%. GM sold off shares of its stake in Suzuki.

A bit desperate...........
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  #26  
Old 11-18-2008, 04:33 PM
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Quote:
Originally Posted by cmyX5go
I was originally for a bailout. How can we let these companies fail? The resulting loss of jobs would be devastating. The article makes perfect sense though. If we just throw money at them, what will change?

If it was my company, or yours, or anyone elses, we would have to do whatever necessary not to fold. What makes them different?
I was for it as well, but that article makes some good agruements against it. Nothing would be worse than putting a $25 billion band-aid on something that needs major surgery.
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  #27  
Old 11-18-2008, 04:35 PM
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Our firm represents Ford in product liability litigation in Louisiana. In fact, 95% of my work comes from Ford. The partners here are extremely conservative and most scoffed at the $700 billion TARP bailout. Now that the auto industry is asking for $25 billion, they are asking everyone to contact our congressmen in support of this bailout. How you view this bailout depends on how your "bread is buttered." My butter comes in a Blue, Oval jar.

But, IMHO, the whole industry needs to be revamped and retooled.

Last edited by Krimson X; 11-18-2008 at 04:51 PM.
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  #28  
Old 11-18-2008, 05:10 PM
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Originally Posted by Krimson X
Our firm represents Ford in product liability litigation in Louisiana. In fact, 95% of my work comes from Ford. The partners here are extremely conservative and most scoffed at the $700 billion TARP bailout. Now that the auto industry is asking for $25 billion, they are asking everyone to contact our congressmen in support of this bailout. How you view this bailout depends on how your "bread is buttered." My butter comes in a Blue, Oval jar.

But, IMHO, the whole industry needs to be revamped and retooled.
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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  #29  
Old 11-18-2008, 05:30 PM
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Quote:
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
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.

Last edited by Krimson X; 11-18-2008 at 05:52 PM.
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  #30  
Old 11-18-2008, 06:16 PM
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Quote:
Originally Posted by AzNMpower32
Ford just sold a large stake in Mazda, so now its share is down from 33% to 13%. GM sold off shares of its stake in Suzuki.

A bit desperate...........
They still have minor share in Aston Martin.
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