Bailout over, for now. Any predictions?
How long will Chrysler survive?So, the Big 2 have been given their bailout, although they were given an amount that was far less than they suggested they needed. Likewise, the bailout was for an amount far less than what many independent economists have claimed would be needed.
Thus, is this just the beginning? Will the Obama Administration and the new Congress erase some of the tougher requirements that Bush's bailout imposes, such as those on UAW wages? Will the bailout lead to a new, vibrant American auto industry? Will the bailout lead to a massive increase in hybrid cars and electric vehicles?
What are your predictions for the automakers bailout?
Labels: bailout
posted by Dahcredyns at
6:55 AM
4 Comments:
Chrysler is done and GM will soon be back asking for much more money. Plus, Obama and the Dems will sneak in to help product the UAW and the whole bailout, ultimately, won't work.
The UAW is already asking obama to reverse "unfair" bailout requirements according to CNBC. Many on the channel have already been saying that non of the UAW requirements are binding and, thus, essentially meaningless.
According to CNBC, Obama has already hinted that he is going to work with the UAW.
Basically, this loan is just cash until Obama and the new Congress come up with a new plan. Other than that, it means - it seems - virtually nothing.
My predictions.
- this is not a loan, it's a give-away. In a few years time when no one is looking, whatever money that the automakers are getting will be washed under the carpet magically. You can bet on it.
- Chrysler will hopefully disappear. It is a useless company that produces truly crappy cars. Anyone who thinks Chrysler cars are any good is smoking very very very strong crack.
- Ford will probably do best because it has a line-up of cars everywhere else but in the US that are better than anything they sell here in their native land. Sad. So finally, after it now is forced to stop being so greedy, it will begin to bring cars from Europe and offer European models that it should have offered 10+ years ago. But it was too blinded by money and selling over sized garbage to a dumb audience.
- GM will only survive if it downsizes and sheds the useless crap it has carried around for years and unbelievably STILL wants to carry around. The Volt will be old news by the time it comes out...if it comes out.
- the Japanese automakers, while affected, will come out well ahead of any of the US companies because their approach and philosophy was in place since the 70's. But they are getting bruised too because they got greedy too and got into the stupid SUV craze. They got a bitter tasting medicine so let's hope they learn. Not sure if they will though.
- the Germans will hopefully downsize and reduce their ridiculously wasteful line of vehicles that get pathetic fuel economy ratings overall. But there are alot of idiots out there ready to buy them so not sure what will happen there.
Overall, I can only hope that things SLOW DOWN....that people take a breather, that companies start producing less. It's time to do so, long over due in fact.
With companies like MB storing thousands of cars at the LA port because they have no where to go, we can only hope these idiots finally realize that it won't kill them to make 8% profit rather than 20% after 20-30 years of making a killing.
Greed is killing us. And this is a lesson we should hopefully learn from....if we make it through.
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