GM Buying Chrysler?

[KHaines]

Anyone else amazed at the poor management at the big 3?!!! They never learned lessons from the past.

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I think its more like the union destroyed the companies... .....



Thank a union worker when any of the big 3 goes bancrupt.

 

[AKaiser]

Let's face it, the blame game here is a 2 edged sword: it cuts both ways.

 

[DennyDay]

It's really a three edge sword, and I think the unions are just part of the problem - - - The mgmt of GM has been real bad since the early '90's, the unions haven't been a help with their demands, But the Government is the big offender.



First: They bailed out Chrysler,so GM thought they could go the the feed bin also.

Second: The EPA dictated a bunch of polution crap and mileage requirements. (good or bad I'm not sure)

Third: The Government demanded they re-tool to make vehicles the public won't buy and doesn't

want. So that is only my opinion. I would love to have a diesel pickup that gets 40mpg and will pull a 10k trailer



In 1994, after 10 years of purchasing three GMC Suburbans, 3/4 ton, 4X4,Diesel each year for 10 years, then not making any purchases except one pickip for 4 years, I recieved a phone call from Mr. Robert Smith of GM asking why, after making multable purchases of GMC trucks, and then nothing for 4 years (he had checked with D&B and found we were still solvent) I told him we were still buying diesel 4X4 trucks but GM wasn't producing what we needed. What I needed was a truck with a solid front axle, that I could put a 12k winch on, and the newer GMC independent front axle wouldn't hold up for our use (we already had a pick up that spent more time in the shop than at work) and I didn't want any more. He then said "But the new trucks ride like a Cadillac. The only thing I could say at that point was if I wanted something to ride like a Cadillac, I'd buy a Cadillac, but I needed a truck I could drive for work.



Thus started our love affair with Dodge Cummins Diesels - - as a bonus we could get 5 speed transmissions that weren't available from GMC!

Denny

 

[AKaiser]

You get a grip... ... ... ... the union demanded and the management gave in. Management realizes the mistake & needs to do something to stop the bleeding, but guess what, the union doesn't care. At least the execs work to recieve there pay unlike alot of union workers.



If the union was smart they would give some major consessions. They are running the big 3 out of business, but what does it matter? It will only hurt themselves in the long run. I would rather take a pay cut than a pink slip.

Just like they ran IHC out of the Ag business, knowing full well IHC was on shaky ground financially.

 

[Tractorat]

The highly paid union auto workers make junk, that is way overly priced. They've had their management by the throat for years. Its incredible that the big 3 are still in business. I think the gov should just let them go under. Car manufacturing wont go away. People will always want to buy new cars. In the void left by GM, Ch and Fd, the Japanese will come in with more inventory. Also, if the big 3 go bankrupt, someone will buy up their assest at a bargain. And, they can start all over again w/o the encumbrances of what the union has foisted on them for the last 50 years,

 

[KHaines]

The highly paid union auto workers make junk, that is way overly priced. They've had their management by the throat for years. Its incredible that the big 3 are still in business. I think the gov should just let them go under. Car manufacturing wont go away. People will always want to buy new cars. In the void left by GM, Ch and Fd, the Japanese will come in with more inventory. Also, if the big 3 go bankrupt, someone will buy up their assest at a bargain. And, they can start all over again w/o the encumbrances of what the union has foisted on them for the last 50 years,

I agree with you on the union but we can not let ANY of the big three go under. It may be to late, but we are a foreign owned country. Ship all our money overseas-japan for cars, china for cheap goods, middle east for oil. What is left? How will be continue to survive if we continue to sell out? What happened to buying American? The future of America is at risk.

 

[Tractorat]

KHaines,
I hear you about being foreign owned. I am sick about American companies being sold to other countries. I am sick about American jobs being outsource to overseas companies. But, in the case of the car companies, I blame the union. And, I accuse them of selling us down the river because "the union worker is worth so much". There is a point where the union worker isnt worth that much. For years and years the auto workers have gotten more and more at the expense of the rest of the country. The Japanese make a quality product, and their workers are paid well. Maybe an American company can pick up the ashes of the big 3 and start with a clean slate. Maybe they can be more selective of their employees and build a quality product. The reason "buy American" used to be the way to go was because we made quality products for a reasonable price. Do you remember when "made in Japan" meant it was cheap junk ? Well the tables have turned.
Please forgive me for my ranting. Im just fed up.

 

[amsoilman]

Here's the latest:



Allpar.com : Chrysler asks for help

 

[Tractorat]

KHaines,

Yes indeed. You and I are on the same page.



TRat

 

[LBARTLETT]

I was against the Wall Street bailout, I'm against the big 3 bailout, I'm against the mortgage bailout. I pay my mortgage, I have a house I can afford, my truck (although old) is paid for, I have seen my 401k become a 201k and now almost totally disappear. The next item starting to be discussed is a credit card bailout!!!!



I've been in bnaking for 27 years. This whole thing is caused by the government beginning with forcing banks to make loans to people that could never afford them in areas where property had little value which then escalated. The loans were then underwritten by Fannie & Freddie based upon government mandates (Fannie and Freddie are quasi-gov't agencies). Just wait, the Farm Credit System will be asking for their too as they got heavily into the rural housing market.



The reason this is global is due to what's called "Bad Debt Swaps" which have taken place between brokerages, banks and countries. Those that guaranteed in case the debt or security went bad don't have the cash or assets to backup their guarantee.



Whatever happened to personal responsibility? They need to let what fails, fail and the chips fall where they may. If poeple lose their pensions I'm sorry but what about those that worked for Enron, personal 401k's, etc. Wait until taxes rise to pay the governmental entity retirements that are out ther "unfunded".



Let them fail and let's get this over with. Any help postpones the pain. Look at history! We bailed Chrysler out once and yes, they did repay but here they are again.



Like we say in banking, the 1st loss is the least loss. Let's get this over with!



Sorry for ranting

 

[Tractorat]

I thought this was interesting. I just saw on the news that congress is interviewing the guys that run the biggest hedge funds because they are at least 10's of billions of dollars each personally. Aren't the hedge funds the main speculators that have driven up the price of oil ? I noticed that the richest and most successful guy was George Sarros. Isnt' he the guy that bankrolls the democratic party ?