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BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

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  • BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

    I know about the no political talk rule, but this directly affects our hobby in 1 way or another, and I am just relaying the message.

    The bailout was shot down last night/this morning. This is already affecting markets across the pond. Unfortunately, I give GM 2 weeks before bankruptcy....... With Chrysler not far behind..... THis is SOOOO BAD BAD BAD. Especially here in michigan. These A-holes dont realize what they have just done...... IT very well may have been too little too late, but It would have got them into the next year to a president who claims to be more open to the idea of help. If Bush has a brincell left in his head, he will use some of the $700 billion the Loan industry just asked for and got, and didnt have to fight tooth and nail for like the auto industry. People oustide of michigan just dont realize how bad it is here. We are doomed. It is bad enough now, before any Big 3 bankruptcies, but this is the end......... The only other place in the whole 50 states where more people have left in the last 5 years, is where Louisiana was hit by hurricane Katrina.

    Michigan is going to become a ghost town...... I cant imagine what this is going to do to Lansing where I am going to school..... EVERYTHING is GM or supplies GM and the auto industry..... The trickle-down to our hobby is going to hurt.....

    Rudy

  • #2
    Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

    You guys know that bankruptcy doesn't mean going out of buisness right? It's just a way of protecting your assets and having the ability to restructure and re-write contracts. For the big 3, bankruptcy is not a bad thing, but as they see it the public will think the same as you and no one will buy any cars. It's more of a PR problem than anything.

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    • #3
      Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

      According to what I heard, the stumbling block was the UAW not agreeing to cut wages in order to help. I think if they put it up to a vote, their union members would choose to have A job making less, than having NO job. If our investors had given us the option to stay in business if we took pay cuts, we would have done it gladly.
      "A cross thread is better than a lock washer." Earl Lanning...My Grandpa

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      • #4
        Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

        There are two other threads that already mentioned this.
        Escaped on a technicality.

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        • #5
          Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

          Originally posted by carjunkiechad
          According to what I heard, the stumbling block was the UAW not agreeing to cut wages in order to help. I think if they put it up to a vote, their union members would choose to have A job making less, than having NO job. If our investors had given us the option to stay in business if we took pay cuts, we would have done it gladly.
          You got to have all that fun and got paid? Man you suck!
          I R Bob
          You can't drink all day unless you start in the morning!
          2007 LH, 2008 LH, 2009 LH, 2010 LH, 2011 LH, 2012 DNF/BLOW'D UP, 2013 LH, 2014 LH

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          • #6
            Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

            Originally posted by nosbaby
            You guys know that bankruptcy doesn't mean going out of buisness right? It's just a way of protecting your assets and having the ability to restructure and re-write contracts. For the big 3, bankruptcy is not a bad thing, but as they see it the public will think the same as you and no one will buy any cars. It's more of a PR problem than anything.
            Whould you make a major purchase of anything from a company in bankruptcy?

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            • #7
              Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

              Originally posted by olbuddybob
              Originally posted by nosbaby
              You guys know that bankruptcy doesn't mean going out of buisness right? It's just a way of protecting your assets and having the ability to restructure and re-write contracts. For the big 3, bankruptcy is not a bad thing, but as they see it the public will think the same as you and no one will buy any cars. It's more of a PR problem than anything.
              Whould you make a major purchase of anything from a company in bankruptcy?
              I had bought a Delta Plane ticket.....
              Escaped on a technicality.

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              • #8
                Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

                Originally posted by BluLightning
                Originally posted by carjunkiechad
                According to what I heard, the stumbling block was the UAW not agreeing to cut wages in order to help. I think if they put it up to a vote, their union members would choose to have A job making less, than having NO job. If our investors had given us the option to stay in business if we took pay cuts, we would have done it gladly.
                You got to have all that fun and got paid? Man you suck!
                If I had no other fall back skill I'd accept a pay cut to the point I think I could do better else where. I'm in Mining, very boom/bust, I could see myself getting paid $25,000 less per year before I would start looking for other work. That's the price I'd pay before saying I need to move on. That's how I'd look at it if I were in their shoes.

                *And I don't think I make what they do*
                Escaped on a technicality.

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                • #9
                  Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

                  nobody is going to drop 75k on an escalade hybrid without a warranty
                  if you go chapter 11 , no customers

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                  • #10
                    Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

                    This is all a big shit sandwich, and we're all gonna have to take a bite whether we want to or not.

                    Not the most polite way to put it for sure, but sugarcoating it just doesn't cut it anymore.

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                    • #11
                      Re: BAILOUT SHOT DOWN!!!! BYE BYE GM, MAYBE CHRYSLER

                      OK let's slow this down a bit. Chrysler did this once before and paid the money back, early. What we need to do as Americans is buy American. Right now. The dealers are cutting super deals, you need a good pickup truck? Want a cheap second car? PT Cruiser. You can go to the dealer and get a car cheap right now. Support the big three before it's too late.

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