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Treasury may bail out bad auto loans (GM/Chrysler merger)

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Re: GM to close down North American factories for January

Unread postby Tyler_JC » Sat 13 Dec 2008, 23:01:55

$this->bbcode_second_pass_quote('idiom', 'T')he easy way into bankruptcy. 'Temporarily' shut everything down, hire other people to 'renovate' the factories after stripping them, then never open the factories again.

No riots, no lock outs, no shoes going into machines...


I was thinking about that too.

How long is it before some of these "temporary" shut downs become permanent shut downs.
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Re: GM to close down North American factories for January

Unread postby Sixstrings » Sun 14 Dec 2008, 00:29:27

idiom wrote:
$this->bbcode_second_pass_quote('', 'T')he easy way into bankruptcy. 'Temporarily' shut everything down, hire other people to 'renovate' the factories after stripping them, then never open the factories again.


Makes sense. My bet is one month will turn into two. And the TARP money will just be paying auto workers to sit at home -- which means the parts suppliers will still be in trouble with factories shut down for at least a month.

What's next? Tarp bailout for all the parts suppliers? Man, TARP beats unemployment.. with TARP you get your full check. :)
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Re: GM to close down North American factories for January

Unread postby Blacksmith » Sun 14 Dec 2008, 00:49:38

$this->bbcode_second_pass_quote('Snowrunner', '')$this->bbcode_second_pass_quote('Sixstrings', 'I') think the Canadians passed some kind of auto bailout on their own, so showing preferance for Canadian factories would make sense.

Ya gotta pay to play, after all. :)


It's a conditional one, as I understand it hinges on the US passing theirs.

But then again, Flaherty is the one with the checkbook, I am sure his buddies are knocking daily on his door and he'll give them money. Not that the average Canadian will benefit from it, just look at his "Common Sense" in Ontario and what he left the next Goverment with hit.

Canada could not have a worst Government at the helm at this point in time.


Pardon me, but I think the three stooges proposed a 60 Billion bailout.
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Re: GM to close down North American factories for January

Unread postby Snowrunner » Sun 14 Dec 2008, 01:49:08

$this->bbcode_second_pass_quote('Blacksmith', '')$this->bbcode_second_pass_quote('Snowrunner', '')$this->bbcode_second_pass_quote('Sixstrings', 'I') think the Canadians passed some kind of auto bailout on their own, so showing preferance for Canadian factories would make sense.

Ya gotta pay to play, after all. :)


It's a conditional one, as I understand it hinges on the US passing theirs.

But then again, Flaherty is the one with the checkbook, I am sure his buddies are knocking daily on his door and he'll give them money. Not that the average Canadian will benefit from it, just look at his "Common Sense" in Ontario and what he left the next Goverment with hit.

Canada could not have a worst Government at the helm at this point in time.


Pardon me, but I think the three stooges proposed a 60 Billion bailout.


Really? I read about 30 billion though they said "up to" and the sound they made were about infrastructure and extending EI, neither of which I had a problem.

And seriously, even if it would be 60 billion Jim "our banks are solid" Flaherty could help himself and has already thrown 75 billion at them, oh yeah, that was conveniently not in the economic update.

Today's Globe & Mail and an interesting little background on Canada's Subprime, with the BoC now saying nasty things as well let's see how good Flaherty really is.

Me? I am stocking up on some provisions, not that it will make a huge amount of difference if those two continue to do what they have been doing so far.
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Re: GM to close down North American factories for January

Unread postby Jester » Sun 14 Dec 2008, 16:47:34

$this->bbcode_second_pass_quote('Snowrunner', '
')Canada could not have a worst Government at the helm at this point in time.


Wait... we have a government? More like we have a bunch or dimwits all squabbling over who gets to ruin our economy first...

:cry:
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Re: GM to close down North American factories for January

Unread postby mommy22 » Sun 14 Dec 2008, 17:02:58

At least you can all still visit the doctor once and a while up there, without going into personal bankruptcy!
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Re: GM to close down North American factories for January

Unread postby Snowrunner » Sun 14 Dec 2008, 17:12:17

$this->bbcode_second_pass_quote('Jester', '')$this->bbcode_second_pass_quote('Snowrunner', '
')Canada could not have a worst Government at the helm at this point in time.


Wait... we have a government? More like we have a bunch or dimwits all squabbling over who gets to ruin our economy first...

:cry:


Okay, point taken.

I like this image here:

Image

Looks like we are ahead of the rest of the world, we just let the markets decide. I am sure Friedman would approve. What a shame that he isn't around anymore.
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Re: GM to close down North American factories for January

Unread postby Keith_McClary » Mon 15 Dec 2008, 01:09:22

$this->bbcode_second_pass_quote('Snowrunner', '')$this->bbcode_second_pass_quote('Sixstrings', 'I') think the Canadians passed some kind of auto bailout on their own, so showing preferance for Canadian factories would make sense.

Ya gotta pay to play, after all. :)


It's a conditional one, as I understand it hinges on the US passing theirs.
So, will the US be bailing out the US branches of "troubled" Canadian companies?
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Re: GM to close down North American factories for January

Unread postby Snowrunner » Tue 16 Dec 2008, 15:51:07

$this->bbcode_second_pass_quote('Keith_McClary', 'S')o, will the US be bailing out the US branches of "troubled" Canadian companies?


Certainly sir, you must be jesting.
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Re: GM to close down North American factories for January

Unread postby ki11ercane » Tue 16 Dec 2008, 18:23:13

To clarify:

1. The Canadian Government has proposed an auto bailout based on a percentage of the U.S. auto bailout. The check is ready to be written as soon as the American one is written.

2. The Coalition of Colluders and Traitors proposed a 30 billion masturbatory package as part of their budget if the Coalition replaced the CPC. (ie. take an advance on the Taxpayer LOC and pass it to them today to pay back 3 fold within 4 years in our taxes)

Yes, our government at the moment is suffering a 2 month political seizure.
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Re: GM to close down North American factories for January

Unread postby Keith_McClary » Wed 17 Dec 2008, 02:09:05

I can't find any Big 3 doom threads so I post this here:

$this->bbcode_second_pass_quote('', 'S')ergio Marchionne, president and CEO of Fiat Group:

"by the time we finish with this, in the next 24 months, as far as mass-producers are concerned, we're going to end up with one American house, one German of size; one European-Japanese, probably with a significant extension in the U.S.; one in Japan; one in China and one other potential European player."

What about the others?

Said Marchionne: "I cannot continue to work on cars on my own. I need a much larger machine to help me. I need a shared machine."

He compared the new structure of the auto industry to the one adopted by the computer business: "I don't mind being a participant and part-owner of the machine. The rest of it I can dress up. I can give it colours. I can give you that suspension, that engine, that stuff, but at the end of the day, I can't afford to spend half a billion [euros] on doing a platform."

link


In other words, there's only room on this planet for 5 automakers.

The writer, Angelo Persichilli, thinks that keeping the "big 3" on life support will damage better managed companies in the domestic auto related industry.
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Re: GM to close down North American factories for January

Unread postby Snowrunner » Wed 17 Dec 2008, 02:29:06

$this->bbcode_second_pass_quote('ki11ercane', '2'). The Coalition of Colluders and Traitors proposed a 30 billion masturbatory package as part of their budget if the Coalition replaced the CPC. (ie. take an advance on the Taxpayer LOC and pass it to them today to pay back 3 fold within 4 years in our taxes)

Yes, our government at the moment is suffering a 2 month political seizure.


I suggest you read a few papers on the Canadian Constitution as well as the Westminster System and then edit your "writing" to reflect reality.

Oh, and just for kicks:

http://www.youtube.com/watch?v=MG-4htheexU

Who was the original "traitor" again?
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Re: GM to close down North American factories for January

Unread postby ki11ercane » Wed 17 Dec 2008, 02:33:12

$this->bbcode_second_pass_quote('Snowrunner', '')$this->bbcode_second_pass_quote('ki11ercane', '2'). The Coalition of Colluders and Traitors proposed a 30 billion masturbatory package as part of their budget if the Coalition replaced the CPC. (ie. take an advance on the Taxpayer LOC and pass it to them today to pay back 3 fold within 4 years in our taxes)

Yes, our government at the moment is suffering a 2 month political seizure.


I suggest you read a few papers on the Canadian Constitution as well as the Westminster System and then edit your "writing" to reflect reality.

Oh, and just for kicks:

http://www.youtube.com/watch?v=MG-4htheexU

Who was the original "traitor" again?


Sorry, my mistake, LIEberals, NDP, and the worst of them all, the idiot French Bloc.

Got it. Thanks.
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Re: GM to close down North American factories for January

Unread postby Keith_McClary » Wed 17 Dec 2008, 03:15:15

$this->bbcode_second_pass_quote('ki11ercane', '
')
Sorry, my mistake, LIEberals, NDP, and the worst of them all, the idiot French Bloc.

Got it. Thanks.


Didn't the current con regime start out as a coalition known as the Conservative Reform Alliance Party?
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Re: GM to close down North American factories for January

Unread postby Snowrunner » Wed 17 Dec 2008, 12:58:37

$this->bbcode_second_pass_quote('Keith_McClary', '')$this->bbcode_second_pass_quote('ki11ercane', '
')
Sorry, my mistake, LIEberals, NDP, and the worst of them all, the idiot French Bloc.

Got it. Thanks.


Didn't the current con regime start out as a coalition known as the Conservative Reform Alliance Party?


Not to mention that no word came out of the PMO (or the Caucus) for that matter condemning the "Western Seperatists" who started all popping up again after the coalition formed.

In Stephen Harper's world the only bad seperatist is a French speaking one, his oil buddies on the other hand.....

@ki11ercane,

how do you think Harper would have formed a coalition back in 2004?
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Re: GM to close down North American factories for January

Unread postby Specop_007 » Wed 17 Dec 2008, 16:44:36

Why bother shutting down the plants?? The worthless workers will just sit on their ass and get paid. Dont really save much money by turning off a machine.
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Chrysler Shuts Down

Unread postby eastbay » Wed 17 Dec 2008, 19:48:20

Chrysler shut down all (100% of its production) effective in 48 hours.

This is amazing news.
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Re: Chrysler Shuts Down

Unread postby Armageddon » Wed 17 Dec 2008, 19:55:06

I doubt they will ever open again. Ford just has announced it will be closing some too.
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Re: Chrysler Shuts Down

Unread postby mos6507 » Wed 17 Dec 2008, 19:57:29

$this->bbcode_second_pass_quote('eastbay', '[')url=http://money.cnn.com/2008/12/17/autos/chrysler_shutdown/index.htm?postversion=2008121717]Chrysler shut down[/url] all (100% of its production) effective in 48 hours.

This is amazing news.


Yep, they are going to go into sleep mode. Why make more cars when they have so much unsold inventory?
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Re: Chrysler Shuts Down

Unread postby vtsnowedin » Wed 17 Dec 2008, 19:59:20

:( The link has a bug in it but I believe you. A two month shutdown should convince the UAW to come to terms. They better hope it can start back up once all the players get THOOTA.
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