The big 3 just don't get it, nobody wants American cars.

[Lugnutz 10+ year member]

I see, but do you think that would be the end of it?
I'd support the bailout if I understood the solution. Such as, plant collapsed and can't make cars build us a new plant, we make cars and pay you back.

It seems that the big 3's problems can't and won't be solved by $25B. I guess I don't understand the issue well enough.

They can eliminate all of their health care costs. The 3 companies agreed to give the UAW 8 billion dollars and the UAW would absorb all the health care. The big 3 is saying they do not have the cash. If the big 3 can get rid of the health care costs, that is a lot of costs cut.

 

[Flipx99 5,000+ posts]

They can eliminate all of their health care costs. The 3 companies agreed to give the UAW 8 billion dollars and the UAW would absorb all the health care. The big 3 is saying they do not have the cash. If the big 3 can get rid of the health care costs, that is a lot of costs cut.

Do you honestly think that will be the end of it? I fear that the problems run deeper than healthcare costs, but again I don't know. I just suspect...ya know.

 

[Lugnutz 10+ year member]

Do you honestly think that will be the end of it? I fear that the problems run deeper than healthcare costs, but again I don't know. I just suspect...ya know.

Then what? They've cut workforce and closed plants. Why does the financial industry get 700 billion and the big 3 can't get 25 billion?

 

[Ferendon 10+ year member]

they havent made taurus in a few years.

LoL.

There was a few 07s, and in 08 they renamed the Five-Hundred the Taurus.

The people who buy into this shit, with no facts whatsoever, are the same ****ing retards that drive gas to $4.00/gallon. Some of the most reliable cars on the road are American cars (which are largely built in Mexico/Canada), and some of the worst are the 'imports' (which are largely built in the US). The least reliable truck on the road right now, is the Toyota Tundra V8 4WD. One of the most reliable cars on the road (tied for 2nd, by industry standards of mechanical breakages per 100 cars sold) is the Ford Fusion, and the V6 Dodge Avenger. Do a little poking around in the automotive industry, and you'll find tons of misconceptions and lies, that 90% of America will believe. I work solely with dealership in my job, and the three steadiest dealerships I work with are a GMC/Buick/Pontiac dealership, a Saturn dealership, and a Ford dealership. The Toyota, Mitsubishi, Nissan, and Honda dealers I was doing tons of business with a few months ago, are laying people off left and right, and can't get a car off the lot to save their lives. I've done about $30k in parts/labor so far for this month, just for Five Star Ford, and another $20k in just parts for Classic GMC/Buick/Pontiac. But, the 'economists' say they ****, so people believe them. Just like they believe there was a legitimate reason for gas to be $4.00/gal. The American population is a large majority 'sheople', the OP included.

 

[Flipx99 5,000+ posts]

Then what? They've cut workforce and closed plants. Why does the financial industry get 700 billion and the big 3 can't get 25 billion?

I don't think $700B will fix them either....to be honest.

I don't think these bailouts are helping anyone but options traders. They are making a killing because of the volatility.

 

[Flipx99 5,000+ posts]

LoL.There was a few 07s, and in 08 they renamed the Five-Hundred the Taurus.

The people who buy into this shit, with no facts whatsoever, are the same ****ing retards that drive gas to $4.00/gallon. Some of the most reliable cars on the road are American cars (which are largely built in Mexico/Canada), and some of the worst are the 'imports' (which are largely built in the US). The least reliable truck on the road right now, is the Toyota Tundra V8 4WD. One of the most reliable cars on the road (tied for 2nd, by industry standards of mechanical breakages per 100 cars sold) is the Ford Fusion, and the V6 Dodge Avenger. Do a little poking around in the automotive industry, and you'll find tons of misconceptions and lies, that 90% of America will believe. I work solely with dealership in my job, and the three steadiest dealerships I work with are a GMC/Buick/Pontiac dealership, a Saturn dealership, and a Ford dealership. The Toyota, Mitsubishi, Nissan, and Honda dealers I was doing tons of business with a few months ago, are laying people off left and right, and can't get a car off the lot to save their lives. I've done about $30k in parts/labor so far for this month, just for Five Star Ford, and another $20k in just parts for Classic GMC/Buick/Pontiac. But, the 'economists' say they ****, so people believe them. Just like they believe there was a legitimate reason for gas to be $4.00/gal. The American population is a large majority 'sheople', the OP included.

Do you kiss your mother with that lying mouth? Find one economist who said "they ****". Consumer reports and the media, sure. But they are not economists.

 

[Ferendon 10+ year member]

And another thing... Who handles all the warranty work, when the Big 3 go under? Where do all the unemployed go? What about all of the pensions/401k/savings and whatnot of all of the career employees? Liquidate what they can of Chrysler, split it, the costs, and the assets and employees among Ford and Chevy. The Big 3's market share now belongs to the Big 2. No one's unemployed, the American car buyers' dollar goes a lot further toward the better good. Pipe dream? Indeed. Would it work that way? Not in the real world.

 

[JimJ 5,000+ posts]

http://investing.businessweek.com/research/stocks/financials/drawFiling.asp?docKey=137-000095015208009040-76Q2T7S3SR72TSLP6F6KJMK3R7&docFormat=HTM&formType=10-Q#K46806E10VQ_HTM_104

Their last 10Q...look what's listed as long term liabilities. There's no way the UAW can cover that. Their next 10K comes out in February, it'll be interesting to see what changes...

 

[Flipx99 5,000+ posts]

The pensions are guarenteed to the full faith and credit of the US govt.

No one covers 401(k)s...the employee keeps what is in them. Can rollover to a traditional, take a cash distribution, or rollover to the new company's 401(k)

 

[Ferendon 10+ year member]

Do you kiss your mother with that lying mouth? Find one economist who said "they ****". Consumer reports and the media, sure. But they are not economists.

Let's take a look back at the posts. See the "s? I was referring to the fact that the media loves to pull the wool over America's eyes, and feed them what they want them to hear.

 

[Ferendon 10+ year member]

The pensions are guarenteed to the full faith and credit of the US govt.

How far do you think that will get them, at this particular time? The near future? Long term?

 

[Flipx99 5,000+ posts]

http://investing.businessweek.com/research/stocks/financials/drawFiling.asp?docKey=137-000095015208009040-76Q2T7S3SR72TSLP6F6KJMK3R7&docFormat=HTM&formType=10-Q#K46806E10VQ_HTM_104
Their last 10Q...look what's listed as long term liabilities. There's no way the UAW can cover that. Their next 10K comes out in February, it'll be interesting to see what changes...

11.5B in Pension expense...sheesh

 

[Flipx99 5,000+ posts]

How far do you think that will get them, at this particular time? The near future? Long term?

The govt will pay the pension. This is not the first time a company with a pension went bankrupt. Pension plans pay into an insurance company similar to the FDIC for savings accounts.

 

[Ferendon 10+ year member]

The govt will pay the pension. This is not the first time a company with a pension went bankrupt. Pension plans pay into an insurance company similar to the FDIC for savings accounts.

So, you mean WE'LL pay it?

The American dollar, in material, belongs to the government. In essence, it belongs to the American people. If they pay this pensions, the money comes from somewhere else. Either from some other source, or off of a printer. Either way, although potentially minuscule, it will have some impact on the bulk of us.

 

[Lugnutz 10+ year member]

What happened to the supposed money that was suppose to be vested into the pensions?