Auto bailout collapses in Senate - Negotiations to bring measure up for vote fall short, possibly dooming GM, Chrysler to bankruptcy.

My C5 is very well maintained. I will be okay.

 

Give them time - I'd bet they still come up with a bailout for the car manufacturers.

 

Look at the bright side. Our C5's will be worth alot more.

 

The markets are going to freak tomorrow. Where is that graphic "The sky is falling"?

I sure am glad I have a C5 and not a, well I was going to say a Ricer, but those companies are okay. Yikes, I am in danger of membership cancellation.

 

Come on! This is America and not France. The government should not be involved with corporations. If the company files chapter 11 great! I don't want my hard earned tax dollars going to people because the unions have a contract. If they file chapter 7 then that's ok too. Someone else will come along and buy them for cheap.

Why is it ok that a large corporation can get bailed out but a small one can't. The government and congress should regulate comerce not own it!

 

I agree totally with you.

However, when the President started all of this bailout stuff with banks and then kept adding to the list of benefactors of the bailout, then got the media involved to turn it into a four ring circus, C5 and other Corvette owners right along with everyone else is going to go through media overdose tomorrow.

You think it has been bad this last week or so, wait till the daytime shift with all the heavy hitters of the Media gets going on this story. They alone will drive the markets down 400 points.

I love my C5.

 

Very true! On a much happier note, I took my c5 out today for a drive and enjoyed the beautiful scenery. I love how one day it will be snowing and then the next it's 55 degrees!

 

+1...the sun will shine and the wind will blow. If the Big 3 collapse, well hopefully something better comes in a takes its place that will not fail. They will eventually end up filing for bankruptcy and will restructure

 

I can see it now. "Corvette by Hyundai" come and get'em boys and girls.

 

When this happened to our big Auto manufacturer Rover in England, the Government let market forces take effect. The company went bust. Eventually it was bought up by the Chinese and they stripped the assets and took design rights and the rigs to China.

No more Brit Auto industry.

The Germans own Rolls Royce and Bentley, the Indians own Land Rover and Jaguar. Only Aston Martin and Lotus are still in Brit hands. All the car manufacturers in UK are French or Japanese owned. Thats the global economy I guess.

It would still be sad to see GM go down the pan though. Even if they survive they'll need to get costs down.

 

Bail out? What does that mean to you? Free money? Not hardly! Its just that the US goverment is going to invest money they borrow into the US auto mfg'er's just like I have stock in them. They do this all the time for other companies like the airlines.

Banks will not loan money to anyone at this time 'cause the banks do not know what anything is worth. The billions that congress ( not the president) gave the banks to lend is still sitting in their banks because the banks are afraid of liquidity. Thye banks have , on average 14 times more liquid assests now than at the first of 2008. One small negative mention of a bank, seems to cause a run on that bank , just as with Washington Mutual. Washington Mutual had no operating problems at all till the run on the bank and NO BANK has liquid assets to cover all deposits because their money is invested just like everyone else's.

Sure the US FED lowers interst rates but the inter bank lending rates are ten time higher now. The US Treasury gives the banks 450 BILLION but there are very few strings to guide what they do with the money. But not so with the US auto makers, the strings are long and butal.

Why is it that Chrysler, Ford and GM have no problem making big profits internationaly? Because the US government , your government has put so many restrictions and mandates on them ( 100 BILLION dollars in R&D of mandated enviromental cars that nobody wants) that along with out of date UAW wage demands and no R&D tax breaks but plenty of issues with the EPA and their stupid b*ll busting carbon foot print agenda.

Since 1966 the US consumer has spent hundreds of billions of EPA mandated dollars to get the pollution of vehicles under control. Yes , a needed issue. Our US vehicles now put out 99% less pollutants than cars in 1966. Great. But the EPA and CARB want to continue to mandate hundreds of BILLIONS just for that 1 percent. It is not cost effective!

US power generators are the major pollutors today, but they can but pollutant credits rather than fix or control their emmissions. You can't! Don't even get me started on the ALGORE carbon foot print scam.

The US public wants larger cars ( note than more folks die now in auto accidents because the cars are smaller in size because of US mandates) and only when fuel cost rise do they consider down seizing.

The US has all but given up manufacturing , we are a service oreinted country now. We barely have the capability to produce anything ourselves and that inculdes military. Very sad to see in just 50 years how this country has declined right under our noses.

 

Yeah, China owns everything. They own a big portion of our national debt. They warned Washington last week to protect their investments in this country. Does that bother anyone? If they go into bankruptcy, Corvette may be lost forever. No one will want to buy a car from a bankrupt company for fear their warranty will not be honored. Its way different from Airlines going bankrupt. I just hope they can work it out.

 

Smooth what is your point about the union?
Steve

 

Plenty of this talk in PR&C.