cashflo2u2
Recycles dryer sheets
- Joined
- Oct 31, 2007
- Messages
- 332
Maybe it's me, but if these 3 guys are the captains of the auto industry, no wonder they are in the ditch. What does anybody else feel about their performance.
Maybe it's me, but if these 3 guys are the captains of the auto industry, no wonder they are in the ditch. What does anybody else feel about their performance.
Before seeing the stooges before congress I was luke warm about bailing them out. Now I am completely against.
"We were doing fine until the credit crunch started"... really It just confirms that they don't get it. And don't get me started on the UAW guy...
The fact that the UAW guy was even present at these meetings reaffirms how I've felt about the whole mess.
I agree: they suck at being executives.Hell, they are auto execs, not professional beggars and they kind of sucked at it.
The dealer network is part of the problem. They have far too many of them--it's inefficient. Toyota has far fewer dealers and they sell many more vehicles per dealer. Even if the dealers don't directly cost the automakers money, working with all of them does. Sorry. Buggywhips . . . The dealer networks, the labor contracts (including the job banks, etc), the retirement plans, the medical benefits--it's all got to be looked at and much of it will be thrown overboard if these ships are to stay afloat and continue to employ any workers at all. This can probably only happen in Chapter 11.The government sponsored DIP financing plan may work, but the point was made why wait until they declare BK to help them-- doesn't it make sense to help them BEFORE they have to BK, possibly saving the brand goodwill and not leaving the dealer network (me) out to dry?
About the only thing keeping Ford and GM afloat at all is their foreign sales (mostly of vehicles built in foreign locations). If you are a fan of the Big Three, you should be a BIG fan of "allowing" automakers to build (and sell) cars overseas and send the money home. Or maybe you think it should only be allowed in one direction.. . . I had a bad feeling when we started letting foreign manufacturers build plants over here and send the profits back to the home country. Now they have our politicians in their pocket. Very tricky.
Instead, the government could float a "LITTLE" 25B (MAYBE 50B?) BRIDGE LOAN. It could actually work! You never know! It doesn't seem that expensive to try compared to the government sponsored bankruptcy alternative.
Instead, the government could float a "LITTLE" 25B (MAYBE 50B?) BRIDGE LOAN. It could actually work! You never know! It doesn't seem that expensive to try compared to the government sponsored bankruptcy alternative.
They'll fly back to DC again in their private jets, and beg for some more!Seriously though, when the big three run through the $25B where are they going to get more loans if the credit markets are not working?
Maybe it's me, but if these 3 guys are the captains of the auto industry, no wonder they are in the ditch. What does anybody else feel about their performance.
The janitorial jobs were already filled.How those guys made it to the CEO desks I have no idea.
Even if it were justifiable (do you want the CEO to waste time sitting around in the airport, or working on the problem?)
That CEOs flew private jets to ask for bailout article is the nail in their coffin. It is deliciously ironic.*
Even if it were justifiable (do you want the CEO to waste time sitting around in the airport, or working on the problem?) it just doesn't look right. It will make it hard to justify the bailout to main street.
*That same phrase (deliciously ironic) is in the article. I thought I came up with that, but I must have read it.