GM/FORD/CHRYSLER/Bailout?

[MAXDOUT]

I don't know about you guys but I think bailing out the car business is bullchit. I have read...that there is at least 900 cars to every 1000 people in the U.S. I heard a while back that there is 3 cars to 1 person ????

I say let them go down. In a good way. Keep the dealerships open for service, we will always need that.

Restructure, and do not produce cars like fruit. Here's an idea, only produce a "new" vehicle/car/truck/SUV every 2-3 years.

Maybe vehicles will actually "hold" some value???????????????? I never buy "NEW"...Why????????????? vehicles are not assets, they are depreciation's for most of us. A vehicle is a tool.

Car company's have made sooooooooooooooooooooo much cash over the years, it is almost pathetic that they ask for help...in my opinion. :dumbass:

Edited November 20, 2008 by maxdout

[britincali]

Not just GM, chrysler and ford are right there with 'em.

[britincali]

This is what really pisses me off....

http://cosmos.bcst.yahoo.com/up/player/pop...20&src=news

I know for a fact chrysler CEO's got a 30m bonus not so long ago.

The sad thing is there will be 4 million plus out of work if all three go under :ah:

[MAXDOUT]

This is what really pisses me off....

http://cosmos.bcst.yahoo.com/up/player/pop...20&src=news

I know for a fact chrysler CEO's got a 30m bonus not so long ago.

The sad thing is there will be 4 million plus out of work if all three go under :ah:

Yep. Sad for the workers. They are the root of all business's.

THE EXECUTIVE'S THAT ARE WALKING AWAY WITH BONUSES.................... :rant_on: :dumbass: IS NOT RIGHT. WHEN IS THE AMERICAN PEOPLE GOING TO STOP THIS BUUULLLSHIIIITTTTT!!!!!!!!!!!!!!!!

ENRON???????????????

AIG??????????????????

BANKS???????????????

MORTGAGE BROKERS??????

Edited November 20, 2008 by maxdout

[britincali]

Its so fukin annoying that these people are supposedly the crem de la crem of intelligence and they roll out to go beg for OUR money in private jets :dumbass:

Chop the CEO's to a max income of 1m a year, tell all the old retired fuks "no more free money go work at walmart", MAKE the designers come up with new smaller better efficient models (dont go spending millions on challengers/camaros/mustangs) and for christ sake make the factory lenders actally make it possible for some one with good credit be able to buy a car and finance through the company.

Heres some examples of stupidity in the last few months that directly affect me and my income.

1. Ford is loosing thousand upon thousands at the aution on lease returns as a few years back they gave people a 24 month residual on a 36 month lease, so they raise lease rates to where its idiotic to lease vs buy.

2. GM did the same thing as does the same response.

3. Chrysler gets out of leasing completly due to the same thing.

4. Chrysler this mornin raised the 60 month A+ rate to 9.74 and did away with any terms longer than 5yrs, to put that into perspective you could have an 860 score with 10,000 down on a 15,000 car and have to pay 9.74??? Who is gonna do that? Also look at how many 40k + vehicles they sell and they wont do 72 months?

Chrysler financial is out of the lending game as of this mornin IMO

5. GM flat will not finance anyone for anything if you are under a 700 score.

6. FMCC (ford financial) isnt approving anyone remotely rough.

All of these things are knee jerk reactions to stupid sh*t that went on a few years ago, if you buy crap deals they are gonna go bad, if you give people stuiply high residuals on leases you are gonna be in the shitter at the auction. No plans were made for the future, it was all a quick fix.

Im just happy our dealership has toyota and is hooked up with 5 great independant banks and at least 20 credit unions.

[MAXDOUT]

Its so fukin annoying that these people are supposedly the crem de la crem of intelligence and they roll out to go beg for OUR money in private jets

Chop the CEO's to a max income of 1m a year, tell all the old retired fuks "no more free money go work at walmart", MAKE the designers come up with new smaller better efficient models (dont go spending millions on challengers/camaros/mustangs) and for christ sake make the factory lenders actally make it possible for some one with good credit be able to buy a car and finance through the company.

Heres some examples of stupidity in the last few months that directly affect me and my income.

1. Ford is loosing thousand upon thousands at the aution on lease returns as a few years back they gave people a 24 month residual on a 36 month lease, so they raise lease rates to where its idiotic to lease vs buy.

2. GM did the same thing as does the same response.

3. Chrysler gets out of leasing completly due to the same thing.

4. Chrysler this mornin raised the 60 month A+ rate to 9.74 and did away with any terms longer than 5yrs, to put that into perspective you could have an 860 score with 10,000 down on a 15,000 car and have to pay 9.74??? Who is gonna do that? Also look at how many 40k + vehicles they sell and they wont do 72 months?

Chrysler financial is out of the lending game as of this mornin IMO

5. GM flat will not finance anyone for anything if you are under a 700 score.

6. FMCC (ford financial) isnt approving anyone remotely rough.

All of these things are knee jerk reactions to stupid sh*t that went on a few years ago, if you buy crap deals they are gonna go bad, if you give people stuiply high residuals on leases you are gonna be in the shitter at the auction. No plans were made for the future, it was all a quick fix.

Im just happy our dealership has toyota and is hooked up with 5 great independant banks and at least 20 credit unions.

You are obviously educated in the business.

I say let them drown....................

I will be fine, I still got my old 99 Ford Super-poopey that has always towed our toyhauler to the dunes...................and of course it is paid for. Sorry all you "New" truck dudes with all the bells and whistles. :dumbass: for 700.00 a month

[Free Agent]

I see and understand your right honorable opinion.

May I add though:

GM/Ford/Chrysler has to survive:

1. Their gripe that they have to be joint-venture build to do business in other countries, yet no law like that forcing the foreign companies to do the same here is a legit b*tch.

2. Foreign governments cover healthcare and retirements is an advantage that the big three don't have in the USA raising their cost of doing biz here is a legit b*tch.

3. GM Ford and Chrysler pay 40% more on average in US taxes compaired to Foreign makers on their own home soil pay to their home Govts is a legit b*tch.

They have to be helped. Yeah, very bad management, but the economic meltdown caught us all with our pants down.

Too much is on the line.

I need parts for the 'Vette and GMC is my selfish interest.

Only the big three make towing vehicles that fit our needs at an affordable price.

Pete the Dunefreak is vested with GM & his future and job depend on the company landing on it's feet.

What was his crime to deserve this?

GM won't go Chap 11 bankruptcy,, GM/Ford/Chrysler will go Chap 7 liquidation without the loan.

It's a loan, not a freebie.

Edited November 20, 2008 by yfzdad

[EY3BA11]

gimme a call when new HD trucks are 50% off MSRP

[badams270]

Sorry new to the site here, but I was talking to friend of mine about this. I was watching the news tonight about these A-hole ceos. First they fly into DC on the 20 million dollar jet. Then, when congress ask them to raise their hands if they are willing to sell the jet and fly back commercial. Can you guess how many of them raised their hands? Thats right NONE. Chrysler gave the execs there 40 million dollar bonuses last week. Can't imagine why they did this on the eve on getting 25 billion from the government????? Its pure greed. They need to feel the pressure just like alot of us struggling right now. No one is bailing me out of my debt. Although my debt is small and I don't have peoples lives in my hands, they should have made better choices and manged there money better.

[Jakster884]

I would have to say since we let the Japs and koreans produce and sell cars here the govenment has caused a portion of this situation. It's called FTA Free trade agreement. I call it BS.

I do agree CEO and CFO should not be making the dollars $$ they are paid but our cost per hour to manufacture these cars/ trucks in the us is like $75.00P/H the others its $45.00P/H. Its not easy to compete with these cost. :dumbass:

I beleive the government should have helped the Auto industry AHEAD of the Financial markets. Now they have been the one to really F Things up. Talking HUNDREDS of BILLIONS. Auto industry is looking for $25B.

Hopefully they will do the right thing. :B

[Fast Machine]

gimme a call when new HD trucks are 50% off MSRP

That's what I'm sayin'. A Corvette for half off sounds nice.

Except my hubby works for GM so I guess that's not such a good idea.

[mineurbiz]

I understand and agree with the frustrations of the top exec's and their bonuses, but do you really think it is good to punish all those GM employee's for the execs poor managment. Also take a look at many businesses, they have been caught but this economic down turn and not due to excessive spending but just not prepared. Also like it was stated above this would not be free money it would be a loan, I am all for it, we can not afford for the auto industry to collapse, just with the amount of people they employ and the taxes the contribute throught the employee making money and spending it and the manufactures sales. The made a good case on the radio today for the bailout and I for one think it needs to happen. I also think that some restructuring is also inline, I know where I work all of the top management agreed not to take a raise this year due to the economy and I feel that more companies need to take this approach.

[wingnut]

I understand and agree with the frustrations of the top exec's and their bonuses, but do you really think it is good to punish all those GM employee's for the execs poor managment. Also take a look at many businesses, they have been caught but this economic down turn and not due to excessive spending but just not prepared. Also like it was stated above this would not be free money it would be a loan, I am all for it, we can not afford for the auto industry to collapse, just with the amount of people they employ and the taxes the contribute throught the employee making money and spending it and the manufactures sales. The made a good case on the radio today for the bailout and I for one think it needs to happen. I also think that some restructuring is also inline, I know where I work all of the top management agreed not to take a raise this year due to the economy and I feel that more companies need to take this approach.

:dumbass: I agree 100% Mark....scary thought, if the big three fail, it's been stated that for every 10 people 2.5 people will be unemployed. Our country wouldn't rebound from that in our life time. :ah:

[predu]

I HAVE HEARD 4.5 MILLION PEOPLE WOULD LOSE THEIR JOBS IF THIS HAPPENS. AND THERE WOULD BE NO DEALERS WITHOUT MANUFACTURER SUPPORT

[Free Agent]

Sorry new to the site here, but I was talking to friend of mine about this. I was watching the news tonight about these A-hole ceos. First they fly into DC on the 20 million dollar jet. Then, when congress ask them to raise their hands if they are willing to sell the jet and fly back commercial. Can you guess how many of them raised their hands? Thats right NONE. Chrysler gave the execs there 40 million dollar bonuses last week. Can't imagine why they did this on the eve on getting 25 billion from the government????? Its pure greed. They need to feel the pressure just like alot of us struggling right now. No one is bailing me out of my debt. Although my debt is small and I don't have peoples lives in my hands, they should have made better choices and manged there money better.

In addition, even though the UAW agreed to a significant lower cost contract, a UAW worker still gets paid if they work or not.

Nobody, nowhere has a deal like that.

It's deals like that that have sour'd the companys beyond all reason.

Also, when MB owned Chrysler, the Pres of MB made $500 K per year.

It was reported the pres of Chrysler pulled over $10 million.

And on top all that, the big 3 exects showed up in DC with no plan.

They just answered questions, and presented no business plan what so ever.

I mean,,, come on.

Go down and apply for a business loan to open a Subway or a Baskin Robbins.

You best have a business plan to hand the bank first thing,, or they'll show you the door.

Still want to see GM, Ford and Chrysler pull through.

They need tougher guys running the company.

Edited November 20, 2008 by yfzdad

[raspadoo]

In addition, even though the UAW agreed to a significant lower cost contract, a UAW worker still gets paid if they work or not.

Nobody, nowhere has a deal like that.

It's deals like that that have sour'd the companys beyond all reason.

Also, when MB owned Chrysler, the Pres of MB made $500 K per year.

It was reported the pres of Chrysler pulled over $10 million.

And on top all that, the big 3 exects showed up in DC with no plan.

They just answered questions, and presented no business plan what so ever.

I mean,,, come on.

Go down and apply for a business loan to open a Subway or a Baskin Robbins.

You best have a business plan to hand the bank first thing,, or they'll show you the door.

Still want to see GM, Ford and Chrysler pull through.

They need tougher guys running the company.

A lot of their problems as i understand it are due to the increased life expectancy and the burden of UAW retired peeps. They will file bk, reorganize, break the unions back, put retirement funds in some sort of trust and come back to compete in my opinion.

[Fast Machine]

A lot of their problems as i understand it are due to the increased life expectancy and the burden of UAW retired peeps. They will file bk, reorganize, break the unions back, put retirement funds in some sort of trust and come back to compete in my opinion.

Ditto.

[motoxman30]

yeah id rather buy them used too cuz they sometimes come with a lil extra

WE shouldnt bail them out

i heard that the government was gonna force the gas companies to bail them out

psshh...then the price of gas goes up

if we look at the economic timeline we see that right around the time the car companies went out of business 70 years ago the great depression soon followed

id rather have the car companies bailed out than the stock market....mainly cuz the more the dow drops the more the price per barrel drops

they gambled there money...they lost...when u lose in vegas u dont get ur money back

once we gave the stock market 7 billion they said they needed more :?: :?:

and we gave it to them

we give them the 7 billion to help get them back on their feet...not to invest in an already failed stock market

this is our money

and we got

[mineurbiz]

Down and dirty statement,

I want to see them bailed out, but with that a business plan that re-org's top exec pay and verify that the company is not to top heavy. Get rid of the flush (jets, car allowances, ect...), a few idiots (top exec's) are going to ruin the US if not controlled.

[Free Agent]

Down and dirty statement,

I want to see them bailed out, but with that a business plan that re-org's top exec pay and verify that the company is not to top heavy. Get rid of the flush (jets, car allowances, ect...), a few idiots (top exec's) are going to ruin the US if not controlled.

There it is.

A business plan, and some big changes.

Bankruptcy is a terrible, worst way of re-organizing a company.