Big three bail out

how will any of this affect your household?
i am an employee of a GM dealership and fell a little uncertain about my future at this time.
im sure the retail front will be affected but what about all the aftermarket stuff, or small part supplier to all the big three.i has a BIG trickle down result that could be felt even with hotrodders having the funds to spend on their toys
what do the rest of you think?

 

bail outs are so******t ****

 

Simply put!

 

Yeah, bailouts ain't right, IMO.

But on the bright side, if they big 3 fail, there is still a market for 10 million cars a year. Somebody needs to make them and sell them and service them. The surviving players will get bigger and will employ many of the existing people. You might have to move to a different brand, if your dealership doesn't change to one of the survivors.

 

Well thought out responses!

I am a tier supplier to the big 3 ***embly plants, I will be screwed. most of my buds are related as well, rubber, auto, steel, textile, gl***, and trucking will all be effected.

Local economies in the areas of manufacture will be hard hit, and yes it will trickle down. Wal mart, fuel, even grocery stores.

Dave

 

they have been ripping the consumer off for years i feel bad for the ones that lose their jobs but when they were replace by robots and computers years ago no-one seem to look to the future years ago in the late 60's a car had slipped threw and made it to the public and was bought by a guy from here a big dodge or ford i beleive it had a test carb on it and was gettin 50-60 miles to the gallon needless to say they were on his door step and made him an offer he couldnt refuse they make it seem like an air bag is big deal when its only there because the car is half plastic thanks for the rant

 

anyone considered what the UNITED STATES GOVERNMENT will expect the automobile companies to build if they are 'bailed out'?
remember AL GORE wanted to 'dictate' what we'd be driving when he was VP?
[BETTER YET along those lines HAVE YOU FORGOTTEN what TIPPER GORE wanted to do to the record industry and the lyrics of songs, and record packaging!]
i fear the automoblile industry will regret asking for 'help' from the government!
it is regrettable that our financial health is failing, our manufacturing base is now only a pale shadow of what it once was, but to allow the government to have greater control of our personal transportation is a scary thought!
think on this.
red ryder

 

The only way I would even consider a bailout is if they cleaned house of all the people responsible for putting the big three where they are today, I'm not money smart and don't understand how they lose billions a quarter and don't ever seem to make big changes. it would be sad to see one of the last large industries we have go away.

 

I thought they were low interest loans? WE already did it with Chrysler. They paid it back

 

BTW: call it what it is, a government loan,

that is why there is problems getting it through. People want it to come out of the 700 billion package that is a bailout because the banks and others screwed people by miss leading them,

"sure you are approved for this 400.000 home" (but now you can't afford to eat!)

Dave

 

I'm looking into my crystal ball.....and I predict.....this thread will be closed.....

 

Received from GM today...thought it may shed some light...maybe if we have some input we can get some output we're interested in... instead of the **** they're feeding us...

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[FONT=Arial, Tahoma, sans-serif]Dear...,

You made the right choice when you put your confidence in General Motors, and we appreciate your past support. I want to ***ure you that we are making our best vehicles ever, and we have exciting plans for the future. But we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

The U.S. economy is at a crossroads due to the worldwide credit crisis, and all Americans are feeling the effects of the worst economic downturn in 75 years. Despite our successful efforts to restructure, reduce costs and enhance liquidity, U.S. auto sales rely on access to credit, which is all but frozen through traditional channels.

The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research:

&#8226; One in 10 American jobs depends on U.S. automakers
&#8226; Nearly 3 million jobs are at immediate risk
&#8226; U.S. personal income could be reduced by $150 billion
&#8226; The tax revenue lost over 3 years would be more than $156 billion

Discussions are now underway in Washington, D.C., concerning loans to support U.S. carmakers. I am asking for your support in this vital effort by contacting your state representatives.

Please take a few minutes to go to www.gmfactsandfiction.com, where we have made it easy for you to contact your U.S. senators and representatives. Just click on the "I'm a Concerned American" link under the "Mobilize Now" section, and enter your name and ZIP code to send a personalized e-mail stating your support for the U.S. automotive industry.

Let me ***ure you that General Motors has made dramatic improvements over the last 10 years. In fact, we are leading the industry with award-winning vehicles like the Chevrolet Malibu, Cadillac CTS, Buick Enclave, Pontiac G8, GMC Acadia, Chevy Tahoe Hybrid, Saturn AURA and more. We offer 18 models with an EPA estimated 30 MPG highway or better &#8212; more than Toyota or Honda. GM has 6 hybrids in market and 3 more by mid-2009. GM has closed the quality gap with the imports, and today we are putting our best quality vehicles on the road.

Please share this information with friends and family using the link on the site.

Thank you for helping keep our economy viable.

Sincerely,



Troy Clarke

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The big three and their employees have had it too good for too long. I know this from first hand experience working for GM for 23 years.

There is something wrong with a system that has every employee that works supporting 4 retirees and continues to pay their janitors within 1.00 per hour of the same wage as their highest paid non-skilled production worker. No wonder they charge $40,000 for a new vehicle.

Did you know that there are GM retirees who retired 35 years ago, and have long since died, and have spouses who still collect their full GM retirement checks? That's how screwed up the system is. Name me the name of any company who can support a program like that and survive. That company doesn't exist.

The big three need to make adjustments for how they do business. If the government bails them out and they continue down the same path they will go thru the 25 billion like **** going thru a tin goose.
I'm not sure what the correct answer is and I don't mean to step on anybodys toes here on the board. just my 2 cents worth.

 

They need to figure out a compe***ive strategy for the long run. UAW will have to make some concessions to lower overhead. CH-11 bankruptcy would not be the end. Might be the best way to stimulate a long-needed restructuring. A bailout seems to throw good money after bad. Sales are still down, quality is down, stock price is down and overhead is still high. It doesn't take a math-magician to see what lies ahead...

When I think of Gov-owned auto manufacturers, I think of the Trabant... With Gov intervention, all three will be producing cars like these:

 

The problem is that the Big Three will just keep doing business as usual and then even the bailout money will be gone.
Those companys that did not change with the times have every right to go out of business due to their lack of ideas, cost controls and just out-dated poor judgement.
I quit buying their cars 6 years ago after a rocky and expensive 30 years of buying Chrysler products.
I just can't afford to spend hard earned money on repair after repair...

 

My company projected a loss in july due to expected slow sales. we came in over the projection and said we made money.

The car companies have to project the sales forcast, sometimes they build in the loss and plan for it, either way the stupid media reports the loss!!!

Dave

 

I know we are not supposed to be political on this board but the reason the big 3 are in the mess they are is because of government restrictions and the unions. They both need to get out of the way and let the market decide what happens to these companies. Sorry about the political rant but people need to wake the hell up!!!

 

A new business plan by the auto makers would help...

 

They had better figure out how to build. "Cheaper, Faster, Better" in a hurry!!!

Have you seen the new mousetraps? the wood ones may be going out of biz if they don't follow the above!

 

I don't want the government to bail out the big 3, however failing to bail out these companies will have a major effect on everything, from the top down. Unfortunately, most industry in my area are suppliers to these three companies, and if they are gone, who do these industries then supply? And then who do small companies like mine supply? It is a domino effect, that will ultimately damage oversees suppliers also. It is a shi**y situation, either way it goes.

 

I think that the big three have been taking advantage of us for years and trying to still keep that up. The fact of the matter is that they do need to start stepping it up a little and giving us more gas mileage and better options and not ripping us off. They also need to start getting rid of some top br*** that are taking more money than they should be... as far as retirements I am not so sure that I dont agree with their widows getting the money. All I know is something needs to be done...

 

Let them file CH 11 it will open the door for restructuring the UNION overhead that is dragging them down.

Give them the loan the Big cheif VP's will get 10 million dollar bonuses for saving the company from bankruptcy. Crazy but true.

 

Come on people. If you take out a home equity loan to pay off credit cards, is that considered a bailout?

GM needs a loan. Credit has dried up elsewhere. Ford was smart by securing a huge line of credit before this all hit.

Some projections predict a loss of over 2 million jobs if the big 3 went under. Granted, some would get shifted over to other mfgrs, but it would be brutal on lots of industries.

If I was GM....I'd turn straight to the Chinese for a loan and cut out the middleman (the US gov't). THAT would get people riled up.....

 

My Pops was at Ford for 36 years (saleried), after retierment they yanked his medical and life ins. Ford has been cutting back (****ty, but cutting)maybe that is why GM is in the spotlight.

 

The problem with bankruptcy for an auto mfgr is that people will be leery of buying cars from them...(ie: what if they don't make it and can't support my warranty??). So a general theory is that it's not a good option, they couldn't pull out of it.

 

it was not my point to show my support for a bail out but just to see how us hotrodders see it. so many of us work somewhere that could be affected either directly or indirectly. this could hamper attendance at events and money to spend on stuff we really dont need.

 

Don't get me started on Chevrolet, I was a service manager for local dealership for 28 years until I would'nt stand for their **** on fleecing their customers. So they advanced me to service director and after a week eliminated the job and laid me off. Then they had the guts to tell local people I retired ! I was 55 at the time. So I went into auto repair and their customers came to me.

 

it seems that most of us agree that a bailout is a ****ty way enabling them to continue their cooperate greed, but i think all of us agree we need to keep american jobs and keep american products!

 

Why doesnt GM ask Mexico for a bailout or loan? That is where alot of its mfg and workforce is..

You know it ****s that nowadays American workers lose good jobs with a decent salary to other "cheaper" countries. Lets face it when GM moved plants to Mexico to cut costs did they take the savings and p*** it on to the consumer..NO. They charge the same or more.......Where did all that extra savings cash go to...bonuses??
Maybe I dont know but how many workers at the GM plant in Mexico are buying GM cars? We Americans are the consumer and the target market..take away US jobs then whose left to buy anything? Pretty sad when you work for a co. that you cant even afford to buy the very product you build.

As far as a low interest loan.......I have excellent credit and yes I did buy a GM car several months ago and you know what GMAC was one of the highest rates going! They want help with a low rate loan but screw the US consumer any way they can......This is why so many feel no comp***ion.
I hate to see the big 3 in trouble but I think its for sentimental reasons..yes, I do not want to see suppliers lose contracts that would b bad for ALOT of people..I say we give GM a loan...15% interest with a prepayment penalty...Rule of 78 applies by the way and we can only go 60 months...OAC.

My Rant....

 

Quit calling it a ****ing bailout people, it's a ****ing loan.

(Groucho will be proud )