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Comments
They are not now with oil under $40 per barrel. There will probably be some oil companies showing a loss. Even when Exxon had their biggest year it was not even close to the profit made by Microsoft. It was about equal to Coca Cola. The auto makers were making lots of money during the dot.com bubble selling big SUVs. They did not save for a rainy day. I say let them fold up and go elsewhere. We do not NEED the Big 3. If GM and Chrysler fold Ford will have a good shot at becoming profitable. Not room for all those auto makers.
Ballmer? He's famous for throwing chairs, among other things. Gates didn't discover the need for lobbying Congress until the anti-trust mess started bubbling, and Microsoft quickly made up for lost time on those efforts. But we digress....
Out on the line, "Thousands out of work and plants with no signs of life. It's what Lansing can expect at its two GM plants for the next month.
"It's discouraging. It's almost despairing," said UAW local 602 president Brian Fredline.
He says this latest round of layoffs could be the worst yet. With no jobs bank to fall back on, employees may struggle to stay on their feet.
"There is not a jobs bank to go to anymore. That was one of the fundamentally proactive things the UAW did to remove our safety net."
Rough Month Ahead For GM Employees (WILX)
Boo hoo, now they're responsible for their own safety net, just like us ordinary mortals. They should have tossed it away themselves: PR-wise it's too much like a "golden parachute" to go over well.
That is for sure. Welcome to reality. We have given money to half dozen members of our Church until their Unemployment kicked in. It is going to be rough. And those that did not stick their head in the sand over the last several years will do fine. Those in the UAW that lived paycheck to paycheck are just plain stupid. I can understand someone with a low paying job living like that. Not a fat cat UAW member making $100k per year.
But it's not all bad news. Those employees will each receive about 360 bucks a week in unemployment from the state, in addition to sub-pay provided by GM and the UAW. Put those together and workers should get about 70% of their take home pay.
Not too bad for sitting at home. I lost my jobs 3X in 5 years during poor economies when the companies I worked for couldn't make a go of it......I didn't get a bailout. The companies I worked for were incompetent and deserved to close down - a bailout wouldn't have helped them.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Why does Bush deserve this?? He is already a wealthy man. Why does any politician deserve money from tax payers after they serve???
I mean yes many CEO's in Detroit and in other industries are making more money than they are worth and it is driving America into the ground. But what about the Golden Parachutes? What about pensions? What about the fact that most of the US polticians are millionares and put their money in foreign banks so that they can evade paying taxes????
why does George Bush sr?
Why does Jimmy Carter?
Why does Al gore?
Why do any of them?
Because we set on our as# and let them!
Because were lazy and just complain and don't do any thing about it.
Thats why!
Because they write the rules.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
(I guess it won't be long till the Bushes are back at the ranch, but we've digressed enough eh?).
there was more than enough controversy over the presidential helicopter for me.
Why couldn't a stretched, armored Segway be built?
I wonder how and why they got that contract? And will it show up since Chrysler is shut down right now? :shades:
Shoulda got a stretched Hummer maybe, hah...
Amen.............and, as others have so ably pointed out; we sit back and let them !
Same sort of scams here in the U.K. If a Member of Parliament, (M.P.), gets voted out we give him full salary for the next three years to tide him over the period of getting a new job. These folks normally have a couple of Directorships under their belts as well as being full-time, (ha ha), M.P.'s. So, you lose your job 'cos you're incompetent and we pay you full salary for 3 years to make life a bit easier ? Not means tested etc. You didn't do the job "full time" because you were holding down some Directorships, that paid handsomely and you probably claimed secretarial etc allowances when your wife/kids "worked" for you. :mad:
I sure wish I had worked for me, the taxpayer. Politicians generally become politicians for two reasons : power and to make a difference. In all too many cases that difference is primarily to their own finances. Same the world over, incl the old Communist Russia and China. :sick:
No no no, have to stop before the Rant Monster comes to visit. "Thank you nurse, a cup of cocoa would be nice and, perhaps, a chocolate biscuit ?"
Obama to ride in style in GM limo (Detroit News)
The T.A.R.P. G.M. Club!
Regards,
OW
The Dodge dealer within Harrisburg closed, as did the Ford dealer. A Chevrolet dealer in the western suburbs also closed. None of those dealers were replaced, or merged with another dealer.
The Buick dealer in Harrisburg merged with the Pontiac-GMC dealer, and now the Buick dealership building is occupied by...a Kia franchise.
The times are a changin'...
Dude, where did all the dealerships go??
Good question about the flag. The US flag is flying from the senior position (right) so that's right. Ordinarily the presidential flag would wave from the junior position (left). But it's probably set up for a visiting dignitary to ride in the presidential limo with the visiting country's flag occupying the junior position.
Or maybe it is Wagoner's personal flag?
I have been trying to find a good link to post on it, but this is the closest I found.
http://www.foxbusiness.com/story/markets/industries/transportation/toyota-decemb- er-sales---units/
Please let me know what you think and how it compares to GM.
Thanks to ALL.
"December was its own special blizzard, damping total Toyota sales some 36.7 percent, including a 41.8-percent plunge for Lexus and a 39.7 drop for Toyota SUVs."
2008 U.S. Auto Sales Are Worst Since 1992 (AutoObserver)
I heard President was going to try a KIA limo
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
how about those white wall tires?
i wonder what was the first presidential limo to have those?
and check out that presidential suburban in the left side of the picture.
2007 - 427,450
2008 - 452,330
-5.5% year/year
Regards,
OW
(Thanks OW).
In other news, GM Says it May Not Need Any Additional Loans.
HERNDON, Va.— Volkswagen of America, Inc. today announced December 2008 sales of 17,577 units, a 14.4 percent decrease over December 2007. Full year sales of 223,128 total units for 2008, was a decrease of 3.2 percent verse 2007 sales.
2007 - 427,450
2008 - 452,330
-5.5% year/year
Isn't that an increase? :confuse:
(could be world???)
This is what I just found;HERNDON, Va.— Volkswagen of America, Inc. today announced December 2008 sales of 17,577 units, a 14.4 percent decrease over December 2007. Full year sales of 223,128 total units for 2008, was a decrease of 3.2 percent verse 2007 sales.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Don't know how they can even predict this. GM was losing money in 2007 when their sales were 20+% higher. With sales in the tank and even making cuts, I don't see how they can stop the bleeding when their products are not moving off the dealer's lots without massive incentives.
Volkswagen of America Inc.
12/07 32,697 12/08 39,864 -18.0% from Dec. 2007
2007 427,450 2008 452,330 -5.5% from 2007
Market Share 12/08 3.6% 12/07 2.9%
YTD 2008 3.2% YTD 2007 2.8%
WSJ
Regards,
OW
Shouldn't companies, no matter what state they reside in from a political point of view, if run poorly, be allowed to fail or forced to restructure? Should taxpayer money be used to make up for the mishaps at financial institutions or should we allow them to wallow in their own mistakes? Shouldn't free markets be free?
When did Socialism make its way to our shores?
How do we choose who is bailed out and who loses?
Shouldn't we place blame on the politicians, bureaucrats and other "decision makers" and put skilled people in place that know how to run the businesses?
Shouldn't investors, led blindly down the primrose path of "buy and hold, diversify and don't open your brokerage statement except once every 10 years" be allowed to follow the Prudent Man Rule?
Moral: Another potential customer lost forever!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Regards,
OW
The thing is for a long time there only were the D3 and most of us bought cars that were fine. But many people got burned somewhere along the line...and basically these people were ignored, because the D3 were doing fine and if a customer had a complaint nothing was done for them. Many of those cars weren't of the highest quality either, GM even admits this. So, when the new guys from Toyota and Honda come along and build very solid reliable cars people were quick to change their buying habits. The one idiot salesperson isn't going to hurt the D3, but the cumulative affect of people getting burned is going to make them look elsewhere, if someone has a better product.
I had many GM cars that I loved, but my Corsica fell apart after 60,000 miles, so why would I go back. My father had Fords and then bought an Oldsmobile Omega which he thought was unsafe to drive. He bought Camrys after that. I think the D3 has a problem in that the baby boomers want either reliabe and practical cars like Toyotas or enthusiasts cars like Lexus or BMW. Young people want to be cool and they like Toyotas and Hondas.
I don't think there are any salespeople like that these days.....they wouldn't last. But there were salespeople like that in the 60s, 70s and 80s and it gave people a bad experience.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
It's the financial managers at the dealers who have taken the place of the idiot salesman...that's at ALL dealers including the imports.
Regards,
OW
It's very cool to drive a Buick.....in China.
For some unknown reason they love Buicks and Cadillacs there. I sometimes think GM wants to get out of the car business in North America.....if they only sold cars overseas they would actually be very profitable.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
The challenge for Detroit now, in terms of image, is that perception lags reality. For many years, from the 1920s through about the early 1970s, many of Detroit's offerings were the coolest. The Chevrolet Malibu and Corvette, Cadillac CTS, 2010 Ford Fusion, the initial success of the RWD Chrysler 300, and the Detroit 3 pickups demonstrate that the domestic car makers can be viable.
Does the new Acura TL look cool? We have a TL in our family. It's been excellent, but we don't think the '09 looks cool. We probably wouldn't consider one. I cite this to make the point that perceptions can change, and that it's possible for Detroit to come back.
The 2010 LaCrosse is a huge departur from Buicks of the recent past. The interior is even farther from where Buick was and the badge looks out of place.
As you cited, perceptions can change. Ironically, the brink of oblivion might be the trick needed!
Regards,
OW
I agree 100% with your comments about the look of the new Buicks. Great improvement and the interior circlew got does look good. Would anyone younger than 50 buy one...I think it's too late personally.
Does the new Acura TL look cool? We have a TL in our family. It's been excellent, but we don't think the '09 looks cool.
My friend has an 07 or 08 Acura and I think it is one of the nicest designs around. We both think the 09 is ugly......they've tried to jazz it up with all that bulk and bubbly edges. They ruined it for me. Same as the Camry for me. Trying to be edgy. I think if they have to make it so radically new age they should keep a Classic model for the purists.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Ford is the least dispicable to me out of the Big 3.
I'm very happy and nearing 50K miles on my Audi with no substantial problems to date. Honestly, the A3 has been so reliable and dependable, that Audi has made not only the Big 3 look pathetic, but has made Honda's made in Ohio look like they need an uptick in quality.