Nightmare
Racer
Joined: May 2007
Posts: 444
Likes: 2
From: Alpine, Texas
I had similar thoughts, but I was thinking (hoping?) along the lines that Porsche or BMW would buy the Corvette name and add some of that wonderful German engineering...should Gm go down the tubes...
Pro
Joined: May 2006
Posts: 637
Likes: 0
Does all this mean that I learned the English language for nothing?
Now i can start learning Chinese or Japanese first, if I want to read the RPO sticker later on when (or if) I want to buy a new Vette.
Now, how do we write Corvette in Chinese?
Hang chong **** or what will it be...
Maybe the 2010 or 2011 vette-follow up will be called "Kamikaze" or something like that.
Hey man, I did the quarter mile in 10.2 with my `kaze the other day.
Now i can start learning Chinese or Japanese first, if I want to read the RPO sticker later on when (or if) I want to buy a new Vette.
Now, how do we write Corvette in Chinese?
Hang chong **** or what will it be...
Maybe the 2010 or 2011 vette-follow up will be called "Kamikaze" or something like that.
Hey man, I did the quarter mile in 10.2 with my `kaze the other day.
Race Director
Joined: Apr 2007
Posts: 16,052
Likes: 253
does it need gov.approval
Chinese Automakers May Buy GM and Chrysler
By Bertel Schmitt
November 18, 2008 - 22,776 views
Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler, China’s 21st Century Business Herald reports today. [A National Enquirer the paper is not. It is one of China's leading business newspapers, with a daily readership over three million.] The paper cites a senior official of China’s Ministry of Industry and Information Technology– the state regulator of China’s auto industry– who dropped the hint that “the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers.” These hints are very often followed with quick action in the Middle Kingdom. The hints were dropped just a few days after the same Chinese government gave its auto makers the go-ahead to invest abroad. And why would they do that?
A take-over of a large overseas auto maker would fit perfectly into China’s plans. As reported before, China has realized that its export chances are slim without unfettered access to foreign technology. The brand cachet of Chinese cars abroad is, shall we say, challenged. The Chinese could easily export Made-in-China VWs, Toyotas, Buicks. If their joint venture partner would let them. The solution: Buy the joint venture partner. Especially, when he’s in deep trouble.
At current market valuations (GM is worth less than Mattel) the Chinese government can afford to buy GM with petty cash. Even a hundred billion $ would barely dent China’s more than $2t in currency reserves. For nobody in the world would buying GM and (while they are at it) Chrysler make more sense than for the Chinese. Overlap? What overlap? They would gain instant access to the world’s markets with accepted brands, and proven technology.
21st Century Business Herald, obviously with input from higher-up, writes that Chinese industry must change and upgrade. China wants their factories to change from low-value-added manufacturing to technically innovative and financially-sound high-value-add industries. Says the paper: “It would be much easier now for strong Chinese automakers to go global by acquiring some assets of their U.S. counterparts in times of crisis.”
Deloitte & Touche sees a trend: “Chinese automakers can start with buying out the OEM projects and Chinese ventures of some global carmakers such as GM and Chrysler.”
The Chinese appear to have bigger plans than an accounting firm can imagine. 21st Century Business Herald acts and writes as if its already a done deal, and the beginning of more to come. “In the coming two years China is likely to see a few of its large Chinese automakers and other manufacturing enterprises set a precedent for achieving globalization by acquiring global companies, just like SAIC or Dongfeng’s possible acquisition of troubled GM or Chrysler.”
Just in case you missed it, the Shanghai Automotive Industry Corporation (SAIC) is China’s largest auto manufacturer. In 1984, the company entered a joint venture with Volkswagen. A decade later, SAIC entered a joint venture with General Motors. In 2007, SAIC bought the Nanjing Automobile Corporation, which had acquired British MG Rover in 2005.
Dongfeng Motor Corporation is a public company, although 70 percent of their shares are reported to be in government hands. They also are one of China’s Big Three. The company has numerous joint venture partners, such as Nissan, Peugeot-Citroen, Honda, and Kia. Dongfeng (which means “East Wind”) was founded at the behest of Mao Zedong himself in 1968.
By Bertel Schmitt
November 18, 2008 - 22,776 views
Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler, China’s 21st Century Business Herald reports today. [A National Enquirer the paper is not. It is one of China's leading business newspapers, with a daily readership over three million.] The paper cites a senior official of China’s Ministry of Industry and Information Technology– the state regulator of China’s auto industry– who dropped the hint that “the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers.” These hints are very often followed with quick action in the Middle Kingdom. The hints were dropped just a few days after the same Chinese government gave its auto makers the go-ahead to invest abroad. And why would they do that?
A take-over of a large overseas auto maker would fit perfectly into China’s plans. As reported before, China has realized that its export chances are slim without unfettered access to foreign technology. The brand cachet of Chinese cars abroad is, shall we say, challenged. The Chinese could easily export Made-in-China VWs, Toyotas, Buicks. If their joint venture partner would let them. The solution: Buy the joint venture partner. Especially, when he’s in deep trouble.
At current market valuations (GM is worth less than Mattel) the Chinese government can afford to buy GM with petty cash. Even a hundred billion $ would barely dent China’s more than $2t in currency reserves. For nobody in the world would buying GM and (while they are at it) Chrysler make more sense than for the Chinese. Overlap? What overlap? They would gain instant access to the world’s markets with accepted brands, and proven technology.
21st Century Business Herald, obviously with input from higher-up, writes that Chinese industry must change and upgrade. China wants their factories to change from low-value-added manufacturing to technically innovative and financially-sound high-value-add industries. Says the paper: “It would be much easier now for strong Chinese automakers to go global by acquiring some assets of their U.S. counterparts in times of crisis.”
Deloitte & Touche sees a trend: “Chinese automakers can start with buying out the OEM projects and Chinese ventures of some global carmakers such as GM and Chrysler.”
The Chinese appear to have bigger plans than an accounting firm can imagine. 21st Century Business Herald acts and writes as if its already a done deal, and the beginning of more to come. “In the coming two years China is likely to see a few of its large Chinese automakers and other manufacturing enterprises set a precedent for achieving globalization by acquiring global companies, just like SAIC or Dongfeng’s possible acquisition of troubled GM or Chrysler.”
Just in case you missed it, the Shanghai Automotive Industry Corporation (SAIC) is China’s largest auto manufacturer. In 1984, the company entered a joint venture with Volkswagen. A decade later, SAIC entered a joint venture with General Motors. In 2007, SAIC bought the Nanjing Automobile Corporation, which had acquired British MG Rover in 2005.
Dongfeng Motor Corporation is a public company, although 70 percent of their shares are reported to be in government hands. They also are one of China’s Big Three. The company has numerous joint venture partners, such as Nissan, Peugeot-Citroen, Honda, and Kia. Dongfeng (which means “East Wind”) was founded at the behest of Mao Zedong himself in 1968.
Corvette Enthusiast
Joined: Oct 2007
Posts: 6,797
Likes: 2,721
From: So. Cal.
2025 C7 of the Year Finalist- Unmodified
2024 C7 of the Year Finalist - Unmodified
2023 C7 of the Year Finalist - Unmodified
budwieser
Wasn't Budwieser recenty purchased by a company from Belgium? When is America going to wake up about giving all our jobs away. I have never owned a foriegn car in support our country and our auto industry. I will concede that foriegn cars may be better than ours. Just kind of sad how this great nation seems to be losing more and more jobs everyday.
Advanced
Joined: Apr 2008
Posts: 68
Likes: 2
From: IL
Wasn't Budwieser recenty purchased by a company from Belgium? When is America going to wake up about giving all our jobs away. I have never owned a foriegn car in support our country and our auto industry. I will concede that foriegn cars may be better than ours. Just kind of sad how this great nation seems to be losing more and more jobs everyday.
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Melting Slicks
Joined: Sep 2006
Posts: 3,194
Likes: 27
From: Monroe Twp, NJ
If Toyota or China buys GM the Corvette will probably be dropped.They are more interested in the Impala, Cadillac and the truck product. Saturn and Buick will be axed and rightly so. The folks at GM thought going German would save Saturn making metal cars for the first time. All it did was put the VUE on consumers worst list.
Race Director
Joined: Apr 2007
Posts: 16,052
Likes: 253
name change?
they eventually called the 1914-1918 war the GREAT WAR
then the 1939-1945 was named just World War II
and the Great War became World War I
So maybe the Great Depression will be renamed Depression I
and this one will be Depression II
all were just s_ _ _ _ y
then the 1939-1945 was named just World War II
and the Great War became World War I
So maybe the Great Depression will be renamed Depression I
and this one will be Depression II
all were just s_ _ _ _ y
Pro
Joined: Nov 2006
Posts: 545
Likes: 0
Hey guys!!! How bout some pride
Impala car of the year 2004
Malibu car of the year 2008
Cadillac competes heads up with ANYTHING Europe or Japan has to offer
The VOLT WILL revolutionize the way we think about powering cars.
Geeeez I'm not even American and it's obvious:
people buy Japanese to appear more intelligent
people buy European to appear more successful
While overlooking some of the best cars available for a lot less money.
How bout some pride in American engenuity,sure they made some mistakes but they are getting a far rougher ride than they deserve right now.
At least "some" of your Canadian cousins still have brand loyalty.
Malibu car of the year 2008
Cadillac competes heads up with ANYTHING Europe or Japan has to offer
The VOLT WILL revolutionize the way we think about powering cars.
Geeeez I'm not even American and it's obvious:
people buy Japanese to appear more intelligent
people buy European to appear more successful
While overlooking some of the best cars available for a lot less money.
How bout some pride in American engenuity,sure they made some mistakes but they are getting a far rougher ride than they deserve right now.
At least "some" of your Canadian cousins still have brand loyalty.
Advanced
Joined: May 2008
Posts: 64
Likes: 0
About a month or so ago I bought 300 shares of GM common stock at $10 a share. I was hoping things would turn around for GM with the Volt comming out.. I should have used the money on women and booze and not wasted it.
Burning Brakes
Joined: May 2006
Posts: 898
Likes: 0
From: Avatar Nazi Land Orange County, CA
LMAO
I know it's not a laughing matter... but I agree with you there!
Race Director
Joined: Dec 2000
Posts: 17,551
Likes: 26
From: El Paso Texas
Ya know, that gets me to thinkin'...which in and of itself probably isn't good. The downturn starting with the market collapse in '29 became known as the Great Depression.
What was so great about it? Me thinks it really sucked. Me also thinks we're about to get a real taste of what it was like....exponentially.
Melting Slicks
Joined: Sep 2006
Posts: 3,194
Likes: 27
From: Monroe Twp, NJ
Its differently in Toyota's best interest to purchase GM. In October Camry was rated as the number one best selling sedan in the US. Guess what number two was?...Not Honda but the Chevrolet Impala.And the new Malibu was also in the top 10. This is a no brainier for Toyota IMO. They could keep the jobs of American workers who will probably make less but most could learn to live on $30.00 a hour instead of the current $60.00. Saturn and Buick could be let go and Pontiac's G6 which was also in the top ten sedan sellers in October could also become a top seller. Once the American public realizes Toyota is in charge of the American car plants the anti American car crowd will most likely have a change of heart. We will be somewhat humiliated however having to admit Japan beat us at our own game. Selling cars in America. As far as a Toyota Corvette...I think its over and it most likely we be put to rest. Maybe its better that way.
Melting Slicks
Joined: Dec 2004
Posts: 3,285
Likes: 51
From: Jacksonville, FL
St. Jude Donor '08 thru '26
The Bankruptcy word.....
....was tossed out after the market close last night by the BOD at GM.
That is a new development as the CEO said at the hearings that GM should/wound not consider chapt 11. They are either playing chicken w/congress or they know that the cash may run out sooner than they are letting on.
One thing struck me as I was listening to some tape of those hearings. Mr. Wagoner kept saying than at 11 million units annual aggregate demand per year GM and the others could stay in business. My only thought was who says that 11 mil figure is a lock in the near term? What happens if the annual demand goes down to less than 10 mil units?
The other thing that struck me is that even the Detroit south companies are laying off at a furious pace due to actual declines in current demand and in response to their view of demand going forward in 09 & 10.....which they perceive to be some where less than 11 mil units annually.
I hate to say that our country would be worse off with out the 3, but we have arrived at the point of not being able to afford our own labor costs on a corporate level. The unions looked at the corps as cash cows that will never run out; and the response from those corps in the past was 'give in not to have strikes & we'll worry about it later'. Throw in a few miss calculations about a few other factors and here they are in the middle of insolvency. The past has indeed come back to haunt them I think. I think that all those CEO's and directors from the past could have seen market share loss ahead of time and restructured the companies starting about 40 yrs ago. At least if they had done some of that it would not be a shock to the economy like it's gonna be now.
This is a sad situation started by lack of good forecasting....where was the past management, all those smart guys with their diplomas from fancy schools couldn't see that by the 70's what was gonna be the market place going forward? GM should have started closing divisions back then to adjust to market conditions. Had they done this they may not have been in this situation now.
sorry for the rant!:o
It just breaks my heart to see what has transpired in the recent past and what it has led to in the present.
Tom
That is a new development as the CEO said at the hearings that GM should/wound not consider chapt 11. They are either playing chicken w/congress or they know that the cash may run out sooner than they are letting on.
One thing struck me as I was listening to some tape of those hearings. Mr. Wagoner kept saying than at 11 million units annual aggregate demand per year GM and the others could stay in business. My only thought was who says that 11 mil figure is a lock in the near term? What happens if the annual demand goes down to less than 10 mil units?
The other thing that struck me is that even the Detroit south companies are laying off at a furious pace due to actual declines in current demand and in response to their view of demand going forward in 09 & 10.....which they perceive to be some where less than 11 mil units annually.
I hate to say that our country would be worse off with out the 3, but we have arrived at the point of not being able to afford our own labor costs on a corporate level. The unions looked at the corps as cash cows that will never run out; and the response from those corps in the past was 'give in not to have strikes & we'll worry about it later'. Throw in a few miss calculations about a few other factors and here they are in the middle of insolvency. The past has indeed come back to haunt them I think. I think that all those CEO's and directors from the past could have seen market share loss ahead of time and restructured the companies starting about 40 yrs ago. At least if they had done some of that it would not be a shock to the economy like it's gonna be now.
This is a sad situation started by lack of good forecasting....where was the past management, all those smart guys with their diplomas from fancy schools couldn't see that by the 70's what was gonna be the market place going forward? GM should have started closing divisions back then to adjust to market conditions. Had they done this they may not have been in this situation now.
sorry for the rant!:o
It just breaks my heart to see what has transpired in the recent past and what it has led to in the present.
Tom
Drifting
Joined: Mar 2004
Posts: 1,818
Likes: 156
From: White Oak PA
Corvette Corporation
Would the possibility of just Corvette being sold to a serious high performance company make sense? No longer any connection whatsoever with the rest of GM. Focus strictly on it and more high performance development. Something like an American Ferrari auto manufacturer.
Go public and we can support it with stock purchases. Gone for good is the dumb GM management too. Get a real Corvette person at the helm. Hire the best performance engineers from other companies. Take off the corporate shackles and let Corvette dominate! Sell Corvettes from entry level to full blown racers (drag, autocross, C6R's). Dominate racing everywhere like Ferrari.
Specialize on profitable niches. Make upgrades and parts for past Corvettes too. And this may sound peculiar, but consider building an electric model like Tesla Motors. Maybe partner with them. Love the torque curve of the electric motor.
www.teslamotors.com
Better than the Japanese, Chinese, or Koreans. If it sold to another country, that will end my interest in it because it is an AMERICAN icon. There must be some smart entrepreneur out there who is listening.
Long live American Corvette!
Go public and we can support it with stock purchases. Gone for good is the dumb GM management too. Get a real Corvette person at the helm. Hire the best performance engineers from other companies. Take off the corporate shackles and let Corvette dominate! Sell Corvettes from entry level to full blown racers (drag, autocross, C6R's). Dominate racing everywhere like Ferrari.
Specialize on profitable niches. Make upgrades and parts for past Corvettes too. And this may sound peculiar, but consider building an electric model like Tesla Motors. Maybe partner with them. Love the torque curve of the electric motor.
www.teslamotors.com
Better than the Japanese, Chinese, or Koreans. If it sold to another country, that will end my interest in it because it is an AMERICAN icon. There must be some smart entrepreneur out there who is listening.
Long live American Corvette!
Advanced
Joined: May 2008
Posts: 64
Likes: 0
Its getting very hard to buy anything thats American made.. There is only so much money in the world ..We keep sending dollars to the mid east for oil. China for crappy made cheap junk. The money does not come back except for loans to over drawn banks... Its no wonder there is less money around here..If we can bail out the financial crooks who started this mess then we better take care of the big three..In 1929 the govt stood by and did nothing..Lets hope something has been learned since then.
Last edited by frontier1111; Nov 22, 2008 at 04:27 PM.