MichiganTruck_Mafia Posted December 3, 2008 Share Posted December 3, 2008 Senate Majority Leader Harry Reid said today that the Democrats’ plan to tap the Wall Street rescue fund to save U.S. automakers doesn’t have the votes to pass. http://www.freep.com/article/20081203/BUSINESS01/81203110 Quote Link to comment Share on other sites More sharing options...
SUPERDEMOCRAT Posted December 4, 2008 Share Posted December 4, 2008 http://www.freep.com/article/20081203/BUSINESS01/81203110 some conflicting news here YO Quote Link to comment Share on other sites More sharing options...
MichiganTruck_Mafia Posted December 4, 2008 Author Share Posted December 4, 2008 some conflicting news here YO That article was from early this morning, before the meetings with Congress. The article I posted was just added within the past hour. Quote Link to comment Share on other sites More sharing options...
SUPERDEMOCRAT Posted December 4, 2008 Share Posted December 4, 2008 That article was from early this morning, before the meetings with Congress. The article I posted was just added within the past hour. Well, there is no time on this. http://www.detnews.com/apps/pbcs.dll/artic...UTO01/812030463 but they are talking about two different loan packages.... so you'll have to wait and see. Quote Link to comment Share on other sites More sharing options...
mikem12 Posted December 4, 2008 Share Posted December 4, 2008 http://www.freep.com/article/20081203/BUSINESS01/81203110 If the Dems/Reps allow the Big three to go under I say to vote each and every one of the liars and cheats out! Start with Dodd, Frank, Mekes and anyone else who had a hand in the financial melt down. They gave wall street a blank check but won't lift a finger to help the Auto industry. so much for being a supporter of the working class. Has anyone heard from our Pres elect. I haven't. Quote Link to comment Share on other sites More sharing options...
MichiganTruck_Mafia Posted December 4, 2008 Author Share Posted December 4, 2008 but they are talking about two different loan packages.... so you'll have to wait and see. The government already approved $25 billion for the Big 3 to retool for fuel efficient vehicles. There are many in Congress think that this money is all the Big 3 should get. Quote Link to comment Share on other sites More sharing options...
SUPERDEMOCRAT Posted December 4, 2008 Share Posted December 4, 2008 The government already approved $25 billion for the Big 3 to retool for fuel efficient vehicles. There are many in Congress think that this money is all the Big 3 should get. ok, there is two plans here, 1. take some money out of the 700 B tarp approved money 2. use the current 25 B and re write the rules on how it can be used. as it stands now, the current 25 B cannot be drawn on for any just cause, it has certain outlines. Quote Link to comment Share on other sites More sharing options...
MichiganTruck_Mafia Posted December 4, 2008 Author Share Posted December 4, 2008 as it stands now, the current 25 B cannot be drawn on for any just cause, it has certain outlines. Right, the current $25 billion must be used for retooling plants to build more fuel efficient vehicles. It can't be used for other purposes, that's why the Big 3 are requesting more money so they can run the day-to-day operations. Quote Link to comment Share on other sites More sharing options...
SUPERDEMOCRAT Posted December 4, 2008 Share Posted December 4, 2008 Right, the current $25 billion must be used for retooling plants to build more fuel efficient vehicles. It can't be used for other purposes, that's why the Big 3 are requesting more money so they can run the day-to-day operations. more money, or diff. rules, don't matter. they wont get it. republicans refuse to use tarp. and democrats refuse to change the rules...(on number 2) Quote Link to comment Share on other sites More sharing options...
Dale143 Posted December 4, 2008 Share Posted December 4, 2008 Why cant they grasp the affects of the b3 going under? The job losses our amazing.Check out this interactive map. http://www.freep.com/article/20081202/BUSINESS01/81126099 Quote Link to comment Share on other sites More sharing options...
udontkno Posted December 4, 2008 Share Posted December 4, 2008 The way I hear it is the govt is going to configure a bankruptcy for GM and Chrysler and fund them. Ford is not in need of any money right now, they are at risk if GM or Chrysler goes bankrupt and that results in suppliers going out. Then Ford would have trouble building cars due to the lack of parts. If the govt structures a bankruptcy for GM and Chrysler and the suppliers stay in business, Ford should be OK. I know the Ford family does not want to lose control of the company or the 70 million shares that they hold. Therefore I think Ford will do everything possible to stay out of any bankruptcy. Quote Link to comment Share on other sites More sharing options...
MichiganTruck_Mafia Posted December 4, 2008 Author Share Posted December 4, 2008 The way I hear it is the govt is going to configure a bankruptcy for GM and Chrysler and fund them. Ford is not in need of any money right now, they are at risk if GM or Chrysler goes bankrupt and that results in suppliers going out. Then Ford would have trouble building cars due to the lack of parts. If the govt structures a bankruptcy for GM and Chrysler and the suppliers stay in business, Ford should be OK. I know the Ford family does not want to lose control of the company or the 70 million shares that they hold. Therefore I think Ford will do everything possible to stay out of any bankruptcy. But if that structured bankruptcy by GM and Chrysler involves further UAW concessions (or throwing out the contract all together), Ford will play the "monkey see, monkey do" game and Ford employees will be subject to the same sacrifices, even though Ford is better off than the other two companies. Any form of bankruptcy is bad for UAW members. Quote Link to comment Share on other sites More sharing options...
Len_A Posted December 4, 2008 Share Posted December 4, 2008 But if that structured bankruptcy by GM and Chrysler involves further UAW concessions (or throwing out the contract all together), Ford will play the "monkey see, monkey do" game and Ford employees will be subject to the same sacrifices, even though Ford is better off than the other two companies. Any form of bankruptcy is bad for UAW members. It's not "monkey see, monkey do", it's the UAW's nearly half century old principle of pattern bargaining, and Walter Reuther's desire to take labor costs out of the lists of variable costs for the company. An assembly worker at Chrysler earns about the same as an assembly worker at Ford, who in turn earns about the same as an assembly worker at GM. It's not allowing one of the Detroit auto companies to get a labor cost advantage over the others. That dictates that if the contract is reopened for any reason, any changes made to one company's contract must be also made to the others. Period. A bankruptcy is going to force the contract at the company open. That's going to force undesirable changes on everyone. And no bankruptcy judge is going to give a rat's ass what any of us think. Quote Link to comment Share on other sites More sharing options...
CSMJ Posted December 4, 2008 Share Posted December 4, 2008 (edited) But if that structured bankruptcy by GM and Chrysler involves further UAW concessions (or throwing out the contract all together), Ford will play the "monkey see, monkey do" game and Ford employees will be subject to the same sacrifices, even though Ford is better off than the other two companies. Any form of bankruptcy is bad for UAW members. Dude WE work at FORD not GM. GM is our rival. There is a poll out there that said 80% of GM buyers would buy a car from Ford and vice versa if the other went to bankrupcy. Meaning ford's truck sales for example would go through the roof!! They would sell at 2004 levels. Ford would make an immediate huge profit because not only would there sales be way up but they would have pricing power due to suply and demand. The rebates would be very small if they had any. Ford would be the #1 auto company in America within 3 months after GM goes into bankrupcy. Not fair to GM workers but its a reality that GM needs cash today to survive Ford does not! We all know if the loans dont pass whats going to happen, GM and Chrysler said basicly they r broke....period having said all that they better approve these damn loans!!!!! And again WE work at FORD therefore I want Ford to survive and be #1 some day! Dont you??? Edited December 4, 2008 by CSMJ Quote Link to comment Share on other sites More sharing options...
SUPERDEMOCRAT Posted December 4, 2008 Share Posted December 4, 2008 Dude WE work at FORD not GM. GM is our rival. There is a poll out there that said 80% of GM buyers would buy a car from Ford and vice versa if the other went to bankrupcy. Meaning ford's truck sales for example would go through the roof!! They would sell at 2004 levels. Ford would make an immediate huge profit because not only would there sales be way up but they would have pricing power due to suply and demand. The rebates would be very small if they had any. Ford would be the #1 auto company in America within 3 months after GM goes into bankrupcy. Not fair to GM workers but its a reality that GM needs cash today to survive Ford does not! We all know if the loans dont pass whats going to happen, GM and Chrysler said basicly they r broke....period having said all that they better approve these damn loans!!!!! And again WE work at FORD therefore I want Ford to survive and be #1 some day! Dont you??? WRONG, IF GM goes into bankruptcy, within 3 months Ford would too, why ? do you know that there is 1100 suppliers that sell to both companies ? IF gm does not pay it's suppliers then they would go OUT! Who is going to make 'products' for Ford ? nope, it's called collateral damage.... Dude, I think you have a brain, USE IT Quote Link to comment Share on other sites More sharing options...
uRfk9AcDfo9Wui Posted December 4, 2008 Share Posted December 4, 2008 Dude WE work at FORD not GM. GM is our rival. There is a poll out there that said 80% of GM buyers would buy a car from Ford and vice versa if the other went to bankrupcy. Meaning ford's truck sales for example would go through the roof!! They would sell at 2004 levels. Ford would make an immediate huge profit because not only would there sales be way up but they would have pricing power due to suply and demand. The rebates would be very small if they had any. Ford would be the #1 auto company in America within 3 months after GM goes into bankrupcy. Not fair to GM workers but its a reality that GM needs cash today to survive Ford does not! And again WE work at FORD therefore I want Ford to survive and be #1 some day! Dont you??? Hello!! McFly is anybody in there!!! Who the fuck is going to buy the trucks!?!?!? Hell if they keep cutting our pay WE won't even be able to afford them!! In case you haven't noticed we are in one of the worse economic times since the Great Depression. What do you think caused this mess? The last thing people are going to be doing is spending $40,000 on a new truck!! U seless A nd W orthless Quote Link to comment Share on other sites More sharing options...
lovelincolns Posted December 4, 2008 Share Posted December 4, 2008 Dude WE work at FORD not GM. GM is our rival. There is a poll out there that said 80% of GM buyers would buy a car from Ford and vice versa if the other went to bankrupcy. Meaning ford's truck sales for example would go through the roof!! They would sell at 2004 levels. Ford would make an immediate huge profit because not only would there sales be way up but they would have pricing power due to suply and demand. The rebates would be very small if they had any. Ford would be the #1 auto company in America within 3 months after GM goes into bankrupcy. Not fair to GM workers but its a reality that GM needs cash today to survive Ford does not! We all know if the loans dont pass whats going to happen, GM and Chrysler said basicly they r broke....period having said all that they better approve these damn loans!!!!! And again WE work at FORD therefore I want Ford to survive and be #1 some day! Dont you??? That's very interesting but true. I guess people that are currently buying American cars will not go over to the Japanese if the company they were buying from went bankrupt but would buy from another American company. Quote Link to comment Share on other sites More sharing options...
CSMJ Posted December 4, 2008 Share Posted December 4, 2008 That's very interesting but true. I guess people that are currently buying American cars will not go over to the Japanese if the company they were buying from went bankrupt but would buy from another American company. Mr. Sachs sited this poll on Scarborough. Mr or Professor Sachs is strongly on our side. Hes a professor of economics or something like that he said if the big 3 went down that will= a 2nd greater depression!!!!! 80% is a huge number. And to my other friend YES pickups are and will always SELL WELL. Fords selling over 500K this year GM almost 600K Chrysler not sure but its around 300 If GM and Chrysler goes down and sales half as many who do u think the truck buyer is going to go too?? .................................................................... A. Toyota B.Nissan's junk truck C.Fords F 150 I'd bet everything I own Ford gets over half of those sales! Fords truck is that good!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
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