 
Detroitrise
Member
Username: Detroitrise
Post Number: 3730
Registered: 09-2007
| | Posted on Thursday, December 11, 2008 - 5:54 pm: |    |
I always find it funny how the same people who will fight for Detroit's survival also want the Big 3 to "restructure".
Even a "restructuring" would kill Detroit, if not the American manufacturing infrastructure. |
Flanders_field
Member
Username: Flanders_field
Post Number: 1366
Registered: 01-2008
| | Posted on Thursday, December 11, 2008 - 6:17 pm: | |
The amount of the loan may pale in comparison to the collateral damage done to the US economy that is already in a deepening recession. It may be the final straw that will send the US spiraling into a depression, should the automakers file for bankruptcy. What would be the effect of millions more going on the public dole of welfare, medicaid, and food stamps, not to mention collecting unemployment for months, losing their homes, and no longer working and paying taxes?
I really doubt that any would ever fully recover, even with a merger, and most consumers would be extremely reluctant to buy a vehicle, used or new, that was manufactured by one of them after emerging from Chapter 11, due to concerns about the cost and/or availability of replacement parts.
I still firmly believe that China will supplant Japan as the dominant automobile exporter in the US within the next decade or so. Michigan is becoming the first state to suffer the full consequences of the "global" economy anyway, so why not embrace it? If the rest of the country is treating us like a red-headed stepchild, why not lure the communists into building part or some of their vehicles here? We can add a panda bear to the state flag, and it wouldn't hurt my feelings. |
Bobl
Member
Username: Bobl
Post Number: 253
Registered: 07-2008
| | Posted on Thursday, December 11, 2008 - 6:34 pm: | |
They are not only playing politics with the paychecks of millions of blue collar workers, but have also added more of the earmarks (pork) that they claim to dislike. One item: increased pay for federal judges, while they demand concessions from blue collar workers.
Concessions might be necessary, but the fat cat republicans should stay out of the collective bargaining process. They should practice what they preach. They should stop acting as foreign car maker lobbyists. |
Bigb23
Member
Username: Bigb23
Post Number: 2779
Registered: 11-2007
| | Posted on Thursday, December 11, 2008 - 6:44 pm: | |
I'm sick that these people will walk away from this mess. Sage brush management? He couldn't run a country. So long - G.W. Bush. |
Lilpup
Member
Username: Lilpup
Post Number: 4979
Registered: 06-2004
| | Posted on Thursday, December 11, 2008 - 7:11 pm: | |
Senator Jeff Sessions (R-AL) is standing up now flapping his gums reading sections of the Heritage Foundation's pro-bankruptcy paper into the record. He's spinning the 'bailout' as giving money to the companies instead of admitting they are loan while talking up Chapter 11 and denying that Chapter 11 will fail. He's all about invalidating contracts. He's rejecting the current proposal.
Cspan.org is livestreaming debate right now (and someone keeps challenging for absence of quorum). |
Sstashmoo
Member
Username: Sstashmoo
Post Number: 2931
Registered: 02-2007
| | Posted on Thursday, December 11, 2008 - 7:17 pm: | |
Quote: "Even a "restructuring" would kill Detroit, if not the American manufacturing infrastructure."
It's going to die without it. That's whats happening right now. That's why they are borrowing money to keep it afloat. The business model is no longer profitable, not in this current economic situation anyway. What should we do, keep borrowing money from the Feds to fund it all? We know that isn't going to work. They are reluctant to grant the first loan, think it will be easier next time? |
Novine
Member
Username: Novine
Post Number: 915
Registered: 07-2007
| | Posted on Thursday, December 11, 2008 - 9:23 pm: | |
"Senator Jeff Sessions (R-AL) is standing up now flapping his gums reading sections of the Heritage Foundation's pro-bankruptcy paper into the record."
Thank Mitt Romney for this line of attack. He was the first of the big Republican pols to push the idea that Bankruptcy was a good thing for the Big 3. That gave the rest of them all the cover they needed. Let's hope we don't see his face around Michigan for a long time. |
Lilpup
Member
Username: Lilpup
Post Number: 4985
Registered: 06-2004
| | Posted on Thursday, December 11, 2008 - 9:31 pm: | |
Sstashmoo, that's not true. They're in front of Congress due to liquidity issues - that's not the same thing. If GM had maxed out their cash holdings earlier like Ford did they wouldn't be there. They didn't anticipate the financial system shutting down. Wagoner said they have collateral to secure the loan.
With the changes they have already made and the new UAW contract they were on a good path to profitability in the auto operations. |
Sstashmoo
Member
Username: Sstashmoo
Post Number: 2934
Registered: 02-2007
| | Posted on Friday, December 12, 2008 - 12:17 am: | |
Lilpup,
"Liquidity issues" means they are broke. It's their own fault.
Quote: "They didn't anticipate the financial system shutting down."
We've been in a recession for a year now. The housing/mortgage collapse has been happening for a few years. The current economic climate is nothing new, it started in the final months of the Clinton years. To say they got caught off guard is just apologizing for poor decision making. They had their chance the last time the UAW walked out. |
Novine
Member
Username: Novine
Post Number: 930
Registered: 07-2007
| | Posted on Friday, December 12, 2008 - 12:26 am: | |
Why are we bailing out the financial markets? If anyone should have anticipated a financial crisis, it should have been the geniuses on Wall Street. Oh wait, they are the ones who precipitated this crisis! I personally know several people who have been laid off this week - retail, auto suppliers, etc. This isn't just about the Big 3 and they aren't the only companies being hammered by the credit crunch, just the largest. |
Lilpup
Member
Username: Lilpup
Post Number: 4991
Registered: 06-2004
| | Posted on Friday, December 12, 2008 - 12:29 am: | |
No, Stash, they've been restructuring to cut costs for quite a while now. That's not the problem. The problem was getting caught short of cash on hand - like when you need cash after the bank is close but the ATM eats your card. |
Ray
Member
Username: Ray
Post Number: 563
Registered: 06-2004
| | Posted on Friday, December 12, 2008 - 12:38 am: | |
All I can say, is that after a lifetime of supporting the GOP, I will never give them a dollar or vote for them again.
I'm also pissed at our whole country. If the big three fail, I truly hope it pulls the whole US into a crushing depression.
Fuck the GOP. Fuck the USA. |
Philbo
Member
Username: Philbo
Post Number: 57
Registered: 09-2008
| | Posted on Friday, December 12, 2008 - 12:49 am: | |
Ray: I WAS a GOP supporter as well. I E-mailed the RNC last night and told them those days are over. They just voted them selves into the permenant minority party in this country. But then again, if those southern states had Democratic senators would thier votes been much different? Its dog eat dog. |
Lmichigan
Member
Username: Lmichigan
Post Number: 3869
Registered: 10-2003
| | Posted on Friday, December 12, 2008 - 12:57 am: | |
Can anyone find the vote tally for this? I'd be interested to see how the Southern Dems voted, too. |
Ronjm23
Member
Username: Ronjm23
Post Number: 12
Registered: 11-2007
| | Posted on Friday, December 12, 2008 - 7:05 am: | |
The final vote tally was 52 to 35 to bring the measure to a vote. Even though Ford is not in quite the financial straits that Chrysler & GM are the failure of either one or both of these companies will cause ripples throughout the entire supply chain. I found the tactics of Sen Mitch McConnell (R) of Kentucky fascinating. He tried to get the UAW to negate it's contract and immediatly cut wages. I always thought that Republicans in general did not want government interference in business. I guess I was wrong. Hang onto your hats today. The stock market is poised for a steep dive. |
Lilpup
Member
Username: Lilpup
Post Number: 5003
Registered: 06-2004
| | Posted on Friday, December 12, 2008 - 7:11 am: | |
Keep in mind Harry Reid registered a No vote strictly for procedural issues.
Senate vote roll |
Danny
Member
Username: Danny
Post Number: 4494
Registered: 02-2004
| | Posted on Friday, December 12, 2008 - 8:06 am: | |
The Republicans in the senate are so blind! Voting NO on the bailout will cost them their election year. |
Bob
Member
Username: Bob
Post Number: 1221
Registered: 11-2003
| | Posted on Friday, December 12, 2008 - 8:17 am: | |
Now either Bush steps up and gives the Big 3 money from the TARP fund or depression here we come. |
Bobl
Member
Username: Bobl
Post Number: 256
Registered: 07-2008
| | Posted on Friday, December 12, 2008 - 10:05 am: | |
Richard Shelby's friends...
|
Johnnny5
Member
Username: Johnnny5
Post Number: 682
Registered: 06-2005
| | Posted on Friday, December 12, 2008 - 10:21 am: | |
This is not yet a crisis. The White House has the ability(And will)to re route a small part of the financial bailout to the auto industry. In only a months time there will be a new administration and Senate and they should be the ones to consider the details of any signifigant bailout loans. Honestly it's probably a blessing in disguise that the current Senate could not come to an agreement as a reduced and rushed bailout package may not have been enough. |
Bobl
Member
Username: Bobl
Post Number: 258
Registered: 07-2008
| | Posted on Friday, December 12, 2008 - 11:05 am: | |
The White House had hoped that this whole economic collapse would occur after the election. They achieved only one half of their goal: Billions of dollars in "relief" for their wealthy few friends.
It is sad that they did this by convincing voters to disregard their personal interests by electing representatives with this agenda. Now, we will all pay through a dramatically reduced standard of living for this redistribution of wealth.
Senators McConnell and Shelby will do fine, thank you. |
Cinderpath
Member
Username: Cinderpath
Post Number: 924
Registered: 05-2006
| | Posted on Friday, December 12, 2008 - 11:23 am: | |
-Wow looks like the UAW and the American worker just called the Dixie Republicans bluff, here, and the GOP will go down like a flaming t*urd on this one. I think it is time in the next congress for the "Nuclear Option" and remove the senate filibuster for two years. This declared war on Bi-partisianship, and it looks like this is the rest of the country verses the south. |
Larryinflorida
Member
Username: Larryinflorida
Post Number: 3314
Registered: 02-2007
| | Posted on Friday, December 12, 2008 - 11:27 am: | |
It's true that the GOP carefully planned this financial collapse to be delayed until after the election, in order for McCain to win. They just could not delay the inevitable that long.
They have known that they have been living like a teenager on a credit card binge for 8 years and the bill was due. And like a credit card binge, they were sure everything was just fine as they spent what we didn't have.
And made some of you believe them about it being ok.
Well it wasn't ok. And now a Democrat is going to have to fix this debacle.
But as you neocon twit autoworkers listen to Rush's voice coming from the dashboard speaker of your American F-150, and you hail him as the oracle of all truths and all things American, consider that what you have come to believe is the truth was actually a big scam to get you to vote for your own extinction.
The GOP hates American workers and American unions, because they can't make as much for themselves.
Because that is what Republicans do...help the rich get richer at your personal expense.
Shame you saw that so late in the game.
I suspect this memory will hang around in your minds during future election seasons. |
_sj_
Member
Username: _sj_
Post Number: 1603
Registered: 12-2003
| | Posted on Friday, December 12, 2008 - 11:35 am: | |
quote:But then again, if those southern states had Democratic senators would thier votes been much different?
Doubtful. This plan was not well liked according to polls. Those people spent probably just as much if not more time telling people to vote no. |
Corktownmark
Member
Username: Corktownmark
Post Number: 248
Registered: 12-2004
| | Posted on Friday, December 12, 2008 - 2:29 pm: | |
think that is wrong -sj-. this is being stopped by a filibuster by a minority not by a vote of a majority. This would come to a vote and it would pass without some southern democrats and with a few northern republicans |
Johnlodge
Member
Username: Johnlodge
Post Number: 9006
Registered: 10-2003
| | Posted on Friday, December 12, 2008 - 2:40 pm: | |
quote:Doubtful. This plan was not well liked according to polls. Those people spent probably just as much if not more time telling people to vote no.
Yet it's much more well liked than the financial sector bailout (which money is being given to top employees in the form of bonuses, rather than being lent to people as intended to unfreeze the credit market.)
CNN shows an even split in their poll.
http://www.cnn.com/
Here's AIG using their bailout money to give out million dollar bonuses:
http://www.cbsnews.com/stories /2008/12/11/earlyshow/main4661 900.shtml?source=mostpop_story |
Sstashmoo
Member
Username: Sstashmoo
Post Number: 2940
Registered: 02-2007
| | Posted on Friday, December 12, 2008 - 2:52 pm: | |
Quote: "This would come to a vote and it would pass without some southern democrats"
Polls have been ran in the last 24 hours, the majority of Americans are thumbs down to the auto industry. These "southern democrats" represent a constituency of lower paid workers than autoworkers. They can't vote for a loan to support an industry that pays their employees three times as much as those in their own state. Think about it.
The same thing everyone here and elsewhere in the country is upset about regarding the bank bailouts.
We see them as overpaid, the exact same way workers in the south see us. Some guy working at the feed mill in Alabama for ten bucks an hour doesn't care if these folks lose their jobs. And you want to use his money to continue "layoff rooms" "employee buyouts" and all the other crap the UAW has been extorting over the years? He probably figures if the UAW gets tossed and wages are lowered, he may even be able to afford a car someday with less that a 100k miles on it. |
Goat
Member
Username: Goat
Post Number: 2896
Registered: 10-2003
| | Posted on Friday, December 12, 2008 - 2:55 pm: | |
I think voters have bailout fatigue. Too bad because the domesics really need it. Much more than AIG did anyway.
If the gov't wasn't trying to prop up their buddies so much the voters wouldn't mind. But now? Forget it. |
Pffft
Member
Username: Pffft
Post Number: 1161
Registered: 12-2003
| | Posted on Friday, December 12, 2008 - 3:05 pm: | |
On CNN, the poll asking if the president should bail out GM etc. is now running even, 50 percent for, 50 against. Before, when it was before the Senate, it was a majority against.
I think after seeing Foghorn Leghorn and his buddies in action at that press conference and in the Senate, people in other states are starting to wake up. |
Flanders_field
Member
Username: Flanders_field
Post Number: 1378
Registered: 01-2008
| | Posted on Friday, December 12, 2008 - 3:16 pm: | |
The domestics should just bypass Congress and ask the Chinese for their loans, since that is where the government "funds" would ultimately come from anyway.
Asking for a loan from our government that is 10+ trillion in debt, and Uncle Sam has the gall to lecture them on being more fiscally responsible..LMAO!! |
_sj_
Member
Username: _sj_
Post Number: 1606
Registered: 12-2003
| | Posted on Friday, December 12, 2008 - 3:17 pm: | |
quote:On CNN, the poll asking if the president should bail out GM etc. is now running even, 50 percent for, 50 against. Before, when it was before the Senate, it was a majority against.
I think after seeing Foghorn Leghorn and his buddies in action at that press conference and in the Senate, people in other states are starting to wake up.
Or people are stuffing the ballot box. |
Novine
Member
Username: Novine
Post Number: 941
Registered: 07-2007
| | Posted on Friday, December 12, 2008 - 4:28 pm: | |
"Or people are stuffing the ballot box."
Right because the peons in Detroit don't deserve to have a say. "sj" just wants us to sit down, shut up and take our whipping. "sj" knows better than all of us. |
Johnlodge
Member
Username: Johnlodge
Post Number: 9013
Registered: 10-2003
| | Posted on Friday, December 12, 2008 - 4:30 pm: | |
quote:Or people are stuffing the ballot box.
Right, the information doesn't agree with you, therefore it must be false. |
_sj_
Member
Username: _sj_
Post Number: 1612
Registered: 12-2003
| | Posted on Friday, December 12, 2008 - 4:38 pm: | |
quote:Right, the information doesn't agree with you, therefore it must be false.
You don't think an on-line poll could be manipulated by people voting. Christ we are in more trouble than anyone could have imagined. |
Johnlodge
Member
Username: Johnlodge
Post Number: 9014
Registered: 10-2003
| | Posted on Friday, December 12, 2008 - 4:42 pm: | |
Of course it could, on both sides.
But when it disagrees with you, your assumption is it's tilted a certain way. |
_sj_
Member
Username: _sj_
Post Number: 1613
Registered: 12-2003
| | Posted on Friday, December 12, 2008 - 4:45 pm: | |
I didn't make an assumption. I mentioned that in regards to "people in other states are starting to wake up." that it could just be people stuffing the ballot box one way. |
Novine
Member
Username: Novine
Post Number: 943
Registered: 07-2007
| | Posted on Friday, December 12, 2008 - 4:49 pm: | |
Don't you have some puppies to kick or some migrants to abuse? |
Johnlodge
Member
Username: Johnlodge
Post Number: 9015
Registered: 10-2003
| | Posted on Friday, December 12, 2008 - 4:53 pm: | |
Here for his daily schadenfreude fix. Its absolutely hilarious that a region is about to lose its biggest industry and employer. May as well piss on 'em while they're down. |
Mikem
Member
Username: Mikem
Post Number: 1886
Registered: 10-2003
| | Posted on Sunday, December 14, 2008 - 1:07 pm: | |
quote:A summary released by Good Jobs First of state and local subsidies given to foreign-owned auto assembly plants totaled $3.6 billion. "As elected officials debate aid for the Big 3, taxpayers have the right to know the full extent of government involvement in America's auto industry," said Greg LeRoy, GJF's executive director. "And while proposed federal aid to the Big 3 would take the form of a loan, the vast majority of subsidies to foreign auto plants were taxpayer gifts such as property and sales tax exemptions, income tax credits, infrastructure aid, land discounts, and training grants," he said.
Here's the summary-
Honda, Marysville OH, 1980, $27 million*
Nissan, Smyrna, TN, 1980, $233 million**
Toyota, Georgetown, KY, 1985, $147 million
Honda, Anna, OH, 1985, $27 million*
Subaru, Lafayette, IN, 1986, $94 million
Honda, East Liberty, OH, 1987, $27 million*
BMW, Spartanburg, SC, 1992, $150 million
Mercedes-Benz, Vance, AL, 1993, $258 million
Toyota, Princeton, IN, 1995, $30 million
Nissan, Decherd, TN, 1995, $200 million**
Toyota, Buffalo, WV, 1996, more than $15 million
Honda, Lincoln, AL, 1999, $248 million
Nissan, Canton, MS, 2000, $295 million
Toyota, Huntsville, AL, 2001, $30 million
Hyundai, Montgomery, AL, 2002, $252 million
Toyota, San Antonio, TX, 2003, $133 million
Kia, West Point, GA, 2006, $400 million
Honda, Greensburg, IN, 2006, $141 million
Toyota, Blue Springs, MS, 2007, $300 million
Volkswagen, Chattanooga, TN, 2008, $577 million
Total: more than $3.58 billion
* total of direct subsidies to all Honda facilities in Ohio
** includes about $200 million for expansions of Smyrna and Decherd plants
List does not include joint ventures with U.S. companies. These data, drawn primarily from contemporary media accounts, are very conservative. They do not account for inflation; some would be worth far more in today's dollars. They do not include any estimate of subsidies granted to hundreds of foreign-owned auto supply companies that have located in the same areas, virtually all of which were also heavily subsidized. Finally, they do not reflect later news accounts, which often place higher subsidy values. http://www.goodjobsfirst.org/c orporate_subsidy/automobile_as sembly_plants.cfm |
Mikem
Member
Username: Mikem
Post Number: 1893
Registered: 10-2003
| | Posted on Tuesday, December 16, 2008 - 1:10 pm: | |
http://www.salon.com/news/feat ure/2008/12/13/bailout/ |
Lpg
Member
Username: Lpg
Post Number: 106
Registered: 02-2008
| | Posted on Tuesday, December 16, 2008 - 3:20 pm: | |
I just wonder how many of members of Congress ever worked in a auto factory ??? And I don't mean in the office. Something nice like a engine plant or a foundry or a stamping plant. A place where you don't get a callus on your ass from sitting behind a desk, but on your hands from actual work. |
Otter
Member
Username: Otter
Post Number: 465
Registered: 12-2007
| | Posted on Tuesday, December 16, 2008 - 3:57 pm: | |
Very few, but so what?
O. |
Lpg
Member
Username: Lpg
Post Number: 107
Registered: 02-2008
| | Posted on Tuesday, December 16, 2008 - 7:00 pm: | |
Because if you have never busted your ass all day with a foreman screaming at you, you have no appreciation what other people do to survive. And the further down the pay scale you go the worse it gets. Thats what. |
Lefty2
Member
Username: Lefty2
Post Number: 2940
Registered: 07-2007
| | Posted on Tuesday, December 16, 2008 - 7:13 pm: | |
Democrats helped blocked auto deal by not voting for it.
The dems had the votes to pass the fed loan, they didn't come through, just ask Harry, bad seed, Reid. |
Otter
Member
Username: Otter
Post Number: 468
Registered: 12-2007
| | Posted on Tuesday, December 16, 2008 - 8:00 pm: | |
I suppose, then, that autoworkers can get in line with every other occupation out there that involves labor to declare that no one who hasn't done what they do has any right to...whatever. I'm not really sure what your point was. there are more than a few Congresscritters who started and ran (successfully) their own businesses. Does this meet the bust-your-ass-all-day standard? |
Novine
Member
Username: Novine
Post Number: 971
Registered: 07-2007
| | Posted on Tuesday, December 16, 2008 - 9:46 pm: | |
"The dems had the votes to pass the fed loan, they didn't come through, just ask Harry, bad seed, Reid."
Reid's "no" vote was procedural to allow a future revote, if the opportunity arose (seemed unnecessary in this case but it's standard practice). Not counting Reid, 41 Dems voted for it, 4 voted against it. 10 Republicans voted for it, 31 voted against it. |
Randy_mckay
Member
Username: Randy_mckay
Post Number: 1
Registered: 12-2008
| | Posted on Wednesday, December 17, 2008 - 12:06 am: | |
I have been reading Detroit YES for a couple of years, but this is my first post, so here it goes...
A couple of humble observations from my side:
-I don't think it is fair to demonise the GOP for not voting for the "bailout". There are just as well many Democrats against it and public opinion of the nation is against it.
-Furthermore, Levin and other Democrats who took out the concessions that the UAW had as part of the deal last minute certainly puts some of the blame there. I had been impressed by some Congressional Democratic leaders who said that everyone needed a haircut, included the UAW. The Senate Democrats didn't agree.
-Bancruptcy does not mean the companies go under, it is a means for them to restructure, which by many accounts would be more helpful and sustainabile than government interference.
-I do not think getting the government involved will make the Detroit 3 more competitive, and it is ironic that Congress is lecturing the Auto execs on how to manage money.
-At the end of the day, whether bailout happens or doesn't, there will be fewer jobs at the Detroit 3 and for those that remain, lower wages. The combination of these two factors will have a significant impact on Michigan's economy for years to come, unless we can supplant auto industry with others.
Thank you |
Lpg
Member
Username: Lpg
Post Number: 108
Registered: 02-2008
| | Posted on Wednesday, December 17, 2008 - 1:18 pm: | |
Otter,
The point I was making is passing judgement on what a person has to do to make a living without knowledge of the job is unfair. I worked for Chrysler Trenton Engine 1968-1971. Also worked in residential construction for many years. In between jobs were landscaping and excavating and others.
If the businesses some of the Congresscritters (I like your description) were law firms, invesment firms etc, then how can they have firsthand knowledge of a labor job ? I would also wonder how they treated their employees.
All of my statements are based on my personal experience (read some of the postings in the I worked at a Detroit auto plant on this forum). I am not trying to change anyone's mind. |
Otter
Member
Username: Otter
Post Number: 471
Registered: 12-2007
| | Posted on Wednesday, December 17, 2008 - 2:01 pm: | |
Lpg,
Not all Congresscritters who were self-made people in one way or another are of the white-glove set. One, for instance, started his own pest-exterminating business, which involved a lot of working a gajillion hours and doing everything yourself in the beginning. This person happened to be Tom DeLay, which perhaps says something about what any particular Congressman's background means for how useful they are.
To say that it is unfair to criticize anything with which you do not have direct experience is itself unfair (albeit in a different sense), unrealistic, and limiting. Why do only people who have done something have the right to speak about it? Is it only criticism that is unfair, or is praise also unfair? Either one, when spoken by the same person, is precisely as informed as the other, and has the same merits based on the criterion of personal experience. For sure, having personal experience doing something give you more to contribute to a discussion on that subject, but more is not the same as all. Rather, not having done it yourself cannot mean that you can't speak of it (whether critically or otherwise) without also effectively closing the space for argument, disagreement, and compromise entirely. We are not all a society of autoworkers, but we all have a stake in economic issues that affect autoworkers, and we all come at that stake from different sides. Firsthand knowledge of a job is not the only knowledge of a job.
O.
P.S. I was fascinated by some of the stories in the auto plant thread.
(Edited to correct sentence fragment)
(Message edited by otter on December 17, 2008) |
Sstashmoo
Member
Username: Sstashmoo
Post Number: 2964
Registered: 02-2007
| | Posted on Wednesday, December 17, 2008 - 3:50 pm: | |
Randy,
Good post. Although, Bankruptcy is not an alternative for the auto companies. People will not buy a car from a company that may disappear anytime after the sale. Can anyone imagine? Say it's a new engine type, there would be none available if needed. The car would be parked and worthless until one might show up at the salvage yard. Even given the current shaky reports and the UAW's unwillingness to do whats best for the company and it's own existence is undoubtedly hurting sales. |
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