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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (2693)	12/6/2008 10:10:50 AM
From: Sedohr Nod	4 Recommendations Read Replies (1) \| Respond to of 103300

I have not felt sorry for the U.S. auto industry for at least 30 years...The tipping point for me came during the late 70s when all you could hear was about the excess inventory on the dealer's lots. Whining up a storm over their situation was a nightly news event. Anyway, shifts in the currency exchange rates gave the big 3 a 6-7% competitive pricing edge over the Japanese imports. I was fool enough to think that was a great opportunity to move U.S. cars, but nooooo, the bastards raised prices to match the exchange rate increases....screw 'em. Their flawed business model is and has been destined for failure for decades....I couldn't last a year, if forced to continue to pay past employees wages and benefits for life. Few companies could and none can doing so for eternity.

To: sandintoes who wrote (2693)	12/6/2008 12:05:23 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 103300

Excellent post!!! GZ

To: sandintoes who wrote (2693)	12/6/2008 8:27:38 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

At this very late date, IMO there are NO 'good answers'... only a choice among 'lesser evils'. I believe that the LEAST BAD choice would be a pre-packaged bankruptcy (wiping out what little is left of their equity... and at least half of their debt load), and turning most of their lenders and those with other claims on future earnings (such as the pensioners) into new equity holders --- making them the new owners. The government can help them emerge from bankruptcy (after the debts are slashed, car models axed, dealer contracts renegotiated or voided, etc., etc.) with a secured loan and warrants... (that way the taxpayers might actually EARN a decent profit on the loans). But: NO taxpayer help until & unless they can be totally viable... and that is IMPOSSIBLE without bankruptcy.