Future of America's auto industry
06-01-2009, 07:06 PM
#91
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[QUOTE=parkerdt,Jun 1 2009, 09:27 PM] Can the US industry surpass Honda in quality and value?
06-01-2009, 07:24 PM
#93
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I see that the stock symbol GM is gone off the Board. I wish Government Motors well - they will need it. The stock and bond holders were left holding the bag. I hope the new owners - the taxpayers - will demand that management and union pension funds can only invest in their own company. That would not only be fair but also motivating.
06-01-2009, 08:17 PM
#94
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Once again, I have to ask why the taxpayers don't own almost 100% of AIG. We ponied up a bunch more money to AIG than to GM, but got squat for it. Can you spell "Crony?"
And why has no one in the mainstream media commented on the dilution effect of the sale of new shares the banks sold in response to the "stress test" on the warrants the taxpayers got for our loans to the insolvent institutions? We bailed these insolvent institutions out with hundreds of billions (thats hundreds of thousands of millions) of dollars, getting warrants that allowed the purchase of shares at a fixed price. The "bait and switch" line was that if the banks prospered, the taxpayer would get a piece of that prosperity. Then the "stress test" required the banks to sell more shares, lowering the value of the warrants.
But has anyone heard this mentioned in the media? Of course not.
And why has no one in the mainstream media commented on the dilution effect of the sale of new shares the banks sold in response to the "stress test" on the warrants the taxpayers got for our loans to the insolvent institutions? We bailed these insolvent institutions out with hundreds of billions (thats hundreds of thousands of millions) of dollars, getting warrants that allowed the purchase of shares at a fixed price. The "bait and switch" line was that if the banks prospered, the taxpayer would get a piece of that prosperity. Then the "stress test" required the banks to sell more shares, lowering the value of the warrants.
But has anyone heard this mentioned in the media? Of course not.
06-02-2009, 07:49 AM
#95
Originally Posted by dlq04,Jun 1 2009, 05:58 PM
Quick video summary of current, past, & future
http://www.autonews.com/article/20090601/V.../306019819/1219
http://www.autonews.com/article/20090601/V.../306019819/1219
06-02-2009, 04:56 PM
#96
Sad day for Delaware. In spite of the effort by Joe Biden and our governor the Boxwood plant which made the Solstice and Sky is closing around late July. The Chrysler plant is gone too. No auto plants left. My father in law went to work at the GM plant after serving in WWII in 1947 the year after it opened and became a foreman very quickly. He was so proud of the cars GM made in the 50's and 60's and bought my wife a 63 Impala Convertible for her 16th birthday which was made there. The 70's were ok but then came the 80's and the invasion of the Japanese cars from Honda, Toyota and Nissan and that was the beginning of the end. We always bought Pontiacs but the quality was getting bad so we bought our first Japanese car, a Nissan Maxima. My father in law never rode in it. Then my wife got a 93 Lexus and had to take my father in law to dialysis one night in it and she was very nervous. He got in, looked around and said to my wife that this is a very nice car and it breaks my heart that we can't compete anymore. She was in tears seeing this wonderful man, who was always quiet, admit that the glory days at GM were over. He passed away soon after this and I know he would be very upset over the news we received in Delaware today. He helped make the best cars in the world and I only hope and pray that GM will return to those glory days and show the world that American cars can compete with the best automobiles from off shore. My father in law would be proud of that.
06-02-2009, 05:05 PM
#97
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S2kRay, thanks for sharing the story.
06-02-2009, 05:07 PM
#98
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I think US automakers can build good, reliable cars. But, if they can't get a handle on resale value, it might be a futile effort. At current car prices, nobody is going to be willing to trade often or lose half the value in 3 years.
06-02-2009, 05:17 PM
#99
Originally Posted by dlq04,Jun 2 2009, 09:05 PM
S2kRay, thanks for sharing the story.
06-02-2009, 06:35 PM
#100
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S2KRAY, that is a sad, but all too common, story.
That GM and Chrysler have to welsh on their financial obligations saddens me. I'm just a little tired of the constant "restructure their debts" rather than "stiff their creditors."
That GM and Chrysler have to welsh on their financial obligations saddens me. I'm just a little tired of the constant "restructure their debts" rather than "stiff their creditors."