Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Posted: Thu Jun 26, 2008 12:46 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
There are now fewer jobs in Detroit than before European colonisation. US triumphs again. _________________ People first, then things, then dollars.
There will be enslavement, cannibalism, & zombie invasions.
Posted: Thu Jun 26, 2008 12:46 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Quote:
An investor who wants to buy credit protection on $10 million in GM's bonds for five years currently has to pay $2.8 million upfront and $500,000 annually for that insurance, through what are called credit-default swaps. A year ago, that protection cost only $400,000 annually, with no upfront cost, according to Credit Derivatives Research LLC.
Posted: Thu Jun 26, 2008 12:51 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Maybe US should throw in the towel and give Michigan back to the native Americans. 232 years of it have been so successful. _________________ People first, then things, then dollars.
There will be enslavement, cannibalism, & zombie invasions.
Joined: Aug 11, 2005 Posts: 826 Location: Eastern NC
Posted: Thu Jun 26, 2008 2:41 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
On a health care front, failure of one of the big three may guarantee a change in the health care of the US. Remember, they are essential health care insurers who happen to make cars. Universal health care, probably. What they get now or what they expect, not a chance.
Posted: Thu Jun 26, 2008 2:56 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
For a good many years now it has seemed like the big three were nothing but finance companies who provided healthcare and retiree benefits via financing a few cars.
Joined: Sep 16, 2004 Posts: 4898 Location: Southwest WI
Posted: Thu Jun 26, 2008 9:12 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
OMG
Quote:
CHELSEA, Mich. - Gas prices are above $4 per gallon. Full-size pickup truck sales are down more than 21 percent through May. The U.S. auto market is in a downward funk. Great time to introduce a new pickup truck, right?
Strange as it may seem, that's what Chrysler LLC executives are thinking when it comes to the new 2009 Dodge Ram, due in showrooms by September or October.
"We're actually pretty optimistic about it," said Deborah Wahl Meyer, Chrysler's marketing chief, who adds that despite a downturn, pickups remain the largest segment of the market. "There's a large group of core people who need trucks."
...
"It's all going to come back," he said. "It's taking a severe hit, there's no doubt, and were feeling that pain right now."
Whats that about fools and money?
I say Dodge is first to go. _________________ Clothing should be optional.
Joined: Aug 03, 2006 Posts: 4337 Location: Graceland
Posted: Thu Jun 26, 2008 9:43 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
I am virtually certain that GM will seek bankruptcy protection fairly soon. One of the immense benefits GM would see from this move would be that it would enable it to jettison virtually all of its retiree medical and some of its pension plan costs.
In many ways GM is the perfect candidate for bankruptcy protection, since one of the best features of bankruptcy for a company like that is it can basically reject all of its non-core contracts--i.e., all of its contracts with individuals who are no longer working.
It would also give GM the opportunity to re-negotiate all of its current agreements with union employees, which would undoubtedly mean lower wages and fewer benefits for those who did get to keep their jobs.
Why on earth did GM not see this fuel price situation coming for the last five years (at least)? I have no idea. It boggles my mind that GM just wandered down the big truck and SUV road, apparently never considering what a rapid increase in gas prices would do to that business.
"The all-new 2009 Dodge Ram pickup -- equipped with a 5.7-liter Hemi engine -- touts improved horsepower, torque and fuel economy compared to the 2008 version.
The Hemi version of the truck achieves 390 horsepower and 407-pound feet of torque, both of which are best in class, said executives who showed off the truck and the rest of Chrysler's 2009 lineup during a media event Thursday morning at the automaker's proving ground in Chelsea.
Its Multiple Displacement System, a fuel-saving technology that shuts off four of the engine's eight cylinders when they're not needed, helps improve the Hemi's fuel economy by 4 percent.
...
The automaker also unveiled two specialty pickups: A high-performance Ram 1500 R/T model, which goes 0-to-60 miles per hour in less than 6 seconds and a Cummins diesel model "
Best in class? 4% - not 40%? 0-60 in 6.9 seconds for a 4800 lb GVW vehicle? It seems their time machine is still set to 1999.
Even for styling, lets compare all the progress that massive model change investment has brought in these trucks over 15 years:
Joined: Jun 20, 2008 Posts: 67 Location: Quebec/Ottawa, Canada
Posted: Thu Jun 26, 2008 10:32 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
>This foreign-owned auto industry in the U.S. would be a nonunion industry, and largely southern. The Rust Belt would get rustier.
Why southern ? We have a number of "domestic" plants here in Ontario, Canada: Oshawa (Toronto), Windsor (Detroit). Also a Toyota plant in Alliston ?
My hometown of St. Catharines (Niagara Falls) was a big GM town back in the day. My friend made $20+ an hour as a tradesman in the 1980s while I was making $10 with a college degree. He called it "Generous Motors". Another friend told tales of taking his pillow to work on his summer job.
So far it's looking like GM may shrink back into the US, which makes much sense now that the Canadian and US dollar are within 2 percent of par.
I don't think I've heard the term "Rust Belt" in many years now.
Is the rust-belt now double rusted ? Reduce-able to powder with a light tap ?
Posted: Thu Jun 26, 2008 10:52 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
I have read, but don't have a link, that GM profits in China are the highest per unit they have ever had. They could close all us operations and still be a world player in automotive.
Oh and they all missed PO, look and the Tundra. _________________ HOLDING THE CENTER
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