10-10-08 Breaking News - GM and Chysler may merge

[StageLeft]

money.cnn.com headline, no article yet:

General Motors says its global sales are down 11% in the fourth quarter, faster than the year-to-date decline. More soon.

Look, the company is absolutely moribund, why throw good money after bad? It would be like investing in a guy who absolutely swears up and down he has figured out how to beat the casino but keeps losing and you keep giving him money anyway.

 

[mooseracing]

Whether they merge or not 1000s of jobs will be lost, it is the bottom line.

I think it is bullshit we are teaching companies to run themselves into the ground, then don't worry our taxpayers will bail you out. Let the company fail, get bought out by a better company or let them die.

 

[WhipperSnapper]

A new thought just occurred to me.

Could it be argued that the federal government owes money to the American automakers since, as far as I know, it was federal laws that forced the unions onto the American automakers?

 

[desy]

A long but interesting read

 

[WhipperSnapper]

GM's acquisition of Chrysler seems like it's more or less a done deal. The media calls it a merger but it will probably be a case of Chrysler selling Jeep and its minivans and then going out of business. This could result in a loss of about 30,000 jobs, including about 15,000 white collar jobs.

Would this transform Michigan's single-state recession into a single-state great depression?

 

[Genx87]

Let them crash down. Propping them up has proven futile.

 

[wwswimming]

maybe they're trying to leverage the economies of scale
for the bankruptcy process.

 

[Ktulu]

Good News

Looks like the Treasury has refused to give any aid to GM. Whatever GM has to do to get this deal closed or even stay alive for that matter it's gonna happen by their own doing, not our tax dollars.

 

[Throckmorton]

Seems like a bad idea... The only savings would be the employees they fire right? And they'd eliminate a lot of car lines. This would be bad for us.

 

[dmcowen674]

Originally posted by: Ktulu
Good News

Looks like the Treasury has refused to give any aid to GM. Whatever GM has to do to get this deal closed or even stay alive for that matter it's gonna happen by their own doing, not our tax dollars.

Thanks, updated OP

No just shut the mismanaged thing down now.

Real Americans will pick up the pieces and start over making it right.

 

[brandonbull]

That's what they get for not donating more to the political parties.

 

[redgtxdi]

Originally posted by: Ktulu
Good News

Looks like the Treasury has refused to give any aid to GM. Whatever GM has to do to get this deal closed or even stay alive for that matter it's gonna happen by their own doing, not our tax dollars.

Thank God!!!!!!!!!!


I don't think another $10B would do anything in this situation good OR bad, so my thoughts were already..........."Tell GM to go eff themselves!!!!"

Anyway.........hopefully this will push GM off the fence. (I wanna *hope* to the positive side just 'cuz of the money we've already given them, but if not then......dismantle the mofo & auction off the pieces!!!!!)

 

[WhipperSnapper]

Originally posted by: Throckmorton
Seems like a bad idea... The only savings would be the employees they fire right? And they'd eliminate a lot of car lines. This would be bad for us.

Yeah, lots of jobs would be lost, but tons of jobs will be lost either way. The reasoning might be that if either Chrysler and/or GM are going to die why not squish them together in the hopes that a single, healthier company might emerge?

 

[Ktulu]

Originally posted by: brandonbull
That's what they get for not donating more to the political parties.

Actually GM is probably the biggest lobbyist among all the automakers.

 

[StageLeft]

I'm glad. Finally an inkling of sanity. If they can make it, great. If they can't, let them fvcking die. My employer doesn't get money thrown at it by the gov.

 

[Ktulu]

http://www.autoblog.com/2008/1...ney-for-us-automakers/

Wow, WTF, I was not expecting this. Pelosi wants to lend detroit an additional 25 billion. Let's hope this gets shot down immediately.

I don't think I'd be alone in feeling like this if it really did happen.

 

[StageLeft]

Ktulu this is the kind of thing that makes people hate Pelosi.

 

[Budmantom]

The big three have a handicap when it comes to competing with the Japanese car makers and it's the unions and the legacy costs, if they could get rid of them they would be profitable again.

The Dem's run the unions or do the unions run the Dem's(?) and they wont let the big 3 separate from one another, thats why the Dem's are backing the bailout (of the unions), if they go bankrupt they may be able to get rid of the unions and legacy costs and they will be profitable again.

In my opinion the only way for the automakers to become profitable again is to go bankrupt, restructure and they can and will be competitive with the foreign automakers.

 

[StageLeft]

Originally posted by: Budmantom
The big three have a handicap when it comes to competing with the Japanese car makers and it's the unions and the legacy costs, if they could get rid of them they would be profitable again.

The Dem's run the unions or do the unions run the Dem's(?) and they wont let the big 3 separate from one another, thats why the Dem's are backing the bailout (of the unions), if they go bankrupt they may be able to get rid of the unions and legacy costs and they will be profitable again.

In my opinion the only way for the automakers to become profitable again is to go bankrupt, restructure and they can and will be competitive with the foreign automakers.

That's probably the case.

 

[SagaLore]

GM and Chysler may merge

No no no please no. GM is the worse company in the history of the United States, just let them fail already! Or merge them with Ford, but please let Chrysler alone.

 

[Budmantom]

Originally posted by: SagaLore

GM and Chysler may merge

No no no please no. GM is the worse company in the history of the United States, just let them fail already! Or merge them with Ford, but please let Chrysler alone.

You do understand that Chrysler is to GM what GM is to Toyota, don't you?

 

[Ktulu]

Originally posted by: Budmantom

Originally posted by: SagaLore

GM and Chysler may merge

No no no please no. GM is the worse company in the history of the United States, just let them fail already! Or merge them with Ford, but please let Chrysler alone.

You do understand that Chrysler is to GM what GM is to Toyota, don't you?

Actually it's more like Chrysler is to GM what Nissan is to Toyota.

 

[dmcowen674]

Did Ford go below a $1 today?

GM must be close to $1 too now.

 

[ElFenix]

Originally posted by: dmcowen674
Did Ford go below a $1 today?

No.


edit: oh wait i believe your reply would be

Originally posted by: dmcowen674

Any proof of this?

 

[StageLeft]

Originally posted by: dmcowen674
GM must be close to $1 too now.

No.