GM and Chrysler merger...it looks like it's going to happen!!
11-06-2008, 04:10 PM
#1
Drifting
Thread Starter
GM and Chrysler merger...it looks like it's going to happen!!
GM and Chrysler merger. It looks like it's going to happen. There is alot more to the merger than most of us considered in prior threads. Read the following article and post your comments.
http://wardsauto.com/ar/gm_chrysler_consultant_081030/
Lou
http://wardsauto.com/ar/gm_chrysler_consultant_081030/
Lou
11-06-2008, 04:15 PM
#2
Platinum Supporting Dealership
Well, it's a lot of good info, but the article is a week old and was predicting that the deal would be done before the election...I wonder if that's a bad sign.
11-06-2008, 04:21 PM
#3
Burning Brakes
Interesting article.
But really doesn't add any valid support to the actual "merger" idea. It is just an opinion by a couple of outside people. Much like the rest of the articles in WSJ Business week, etc.....selling copy....earning a leaving.
Understand, I'm not saying it won't happen (which as a retired salaried employee, I am against). I am just reserving my enthusiasm to when Wagner or equal counterparts say it will happen.
But really doesn't add any valid support to the actual "merger" idea. It is just an opinion by a couple of outside people. Much like the rest of the articles in WSJ Business week, etc.....selling copy....earning a leaving.
Understand, I'm not saying it won't happen (which as a retired salaried employee, I am against). I am just reserving my enthusiasm to when Wagner or equal counterparts say it will happen.
11-06-2008, 04:24 PM
#5
Team Owner
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St. Jude Donor '15
"In honor of jpee"
Not to mention the fact that Wards seems to be an industry promoter and therefore predicting the worst of all possible outcomes, the 100,000 to 200,000 job loss scenario. A scenario which might be completely bogus and a scare tactic to try and goad federal "bailout" dollars---aka, your money and mine.
Plus, calling the Volt something to be heralded at what appears to be a premium price coming in a year or two, well, that doesn't sound enticing to me.
Finally, if you know about Cerberus, it is not a car company. It is an investment firm, a holder of assets mostly to be sold at a profit. That supposed $11 billion in cash won't be "sold" to GM for $5 billion, I can guarantee you that. They will make a profit on their investment, in addition to the capital they've already pulled out of the deal, plus profit.
Plus, calling the Volt something to be heralded at what appears to be a premium price coming in a year or two, well, that doesn't sound enticing to me.
Finally, if you know about Cerberus, it is not a car company. It is an investment firm, a holder of assets mostly to be sold at a profit. That supposed $11 billion in cash won't be "sold" to GM for $5 billion, I can guarantee you that. They will make a profit on their investment, in addition to the capital they've already pulled out of the deal, plus profit.
11-06-2008, 05:01 PM
#8
Drifting
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My 2 Cents....
All of the government bail outs should be done with one stipulation: New management with a new business plain..
Bail outs have to be done to avoid unemployment and its cost to us going forward.
Bail outs have to be done to avoid unemployment and its cost to us going forward.
11-06-2008, 05:14 PM
#10
Banned Scam/Spammer
GM and Chrysler merger. It looks like it's going to happen. There is alot more to the merger than most of us considered in prior threads. Read the following article and post your comments.
http://wardsauto.com/ar/gm_chrysler_consultant_081030/
Lou
http://wardsauto.com/ar/gm_chrysler_consultant_081030/
Lou
They are desperate to stay alive, desperate enough to merge.
They can only survive long enuff as a team- to make it to obama time,
their only chance to get a gov bailout on the taxpayer dime. One can only hope it gets blocked and they fail now vs later.
The unions et al want another 4 year free ride before they close for good.
11-06-2008, 05:21 PM
#11
Team Owner
I do not believe it will happen the Government will infuse cash to all three manufacturers to keep them afloat.
11-06-2008, 05:34 PM
#13
Team Owner
Well,the DEALERS want some cash too!!
URGENT ACTION ALERT:
SPEAKER PELOSI NEEDS TO HEAR FROM YOU
TODAY, representatives from the Detroit manufacturers and the United Auto Workers union are meeting with House Speaker Nancy Pelosi (D-Calif.). Reports indicate that they are asking for approximately $25 billion in additional aide due to the ongoing economic crisis. None of this money has been set aside for America's auto dealers, many of whom are struggling to stay in business.
To date, 100 percent of the focus has been on the manufacturers and 0 percent on the dealers. This needs to change. The media and Detroit all point to the fact that we cannot let our manufacturers fail. We all agree. However, we cannot and must not force America's automobile dealers out of business either.
SPEAKER PELOSI NEEDS TO HEAR FROM YOU
TODAY, representatives from the Detroit manufacturers and the United Auto Workers union are meeting with House Speaker Nancy Pelosi (D-Calif.). Reports indicate that they are asking for approximately $25 billion in additional aide due to the ongoing economic crisis. None of this money has been set aside for America's auto dealers, many of whom are struggling to stay in business.
To date, 100 percent of the focus has been on the manufacturers and 0 percent on the dealers. This needs to change. The media and Detroit all point to the fact that we cannot let our manufacturers fail. We all agree. However, we cannot and must not force America's automobile dealers out of business either.
11-06-2008, 06:57 PM
#14
Le Mans Master
GM, Ford, and Chrysler all went to Washington today to ask for $25 billion dollars, in addition to the $25 billion they are already getting to develop hybrid cars, to keep them from going under.
I came up a little short paying for lunch today. I think I will send the bill to Nancy Pelosi and see if she will bail me out!
I came up a little short paying for lunch today. I think I will send the bill to Nancy Pelosi and see if she will bail me out!
Last edited by TEXHAWK0; 11-06-2008 at 07:00 PM.
11-06-2008, 07:07 PM
#15
Race Director
I'm sorry but our car companies have been screwed by our government's lack of import control and the government should help out these US companies. Try to buy an American car overseas and you'll get screwed. About $100k for a regular 4LT Vette in Germany. Why do you think we have Europeans on this forum willing to buy a car in the US and pay to have it shipped/converted to their country? Foreign car makes are actually cheaper in the US then their own country. An AMG SLK55 is almost $100k in Germany compared to $70k here.
However, I believe any company that gets a bailout by the government deserves to be micromanaged. No expensive business trips or parties at our expense especially since meetings can be done on line now.
But US car manufacturers always seem to release their cars 3-5 years after they should have.
Our country is being bought up by foreigners every day and our government is letting it happen. Hopefully GM/Chrysler is not next. We need to consider national security. Kind of hard to use a plant to build military stuff during a war if you don't own it.
However, I believe any company that gets a bailout by the government deserves to be micromanaged. No expensive business trips or parties at our expense especially since meetings can be done on line now.
But US car manufacturers always seem to release their cars 3-5 years after they should have.
Our country is being bought up by foreigners every day and our government is letting it happen. Hopefully GM/Chrysler is not next. We need to consider national security. Kind of hard to use a plant to build military stuff during a war if you don't own it.
11-06-2008, 08:53 PM
#16
Burning Brakes
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I'm sorry but our car companies have been screwed by our government's lack of import control and the government should help out these US companies. Try to buy an American car overseas and you'll get screwed. About $100k for a regular 4LT Vette in Germany. Why do you think we have Europeans on this forum willing to buy a car in the US and pay to have it shipped/converted to their country? Foreign car makes are actually cheaper in the US then their own country. An AMG SLK55 is almost $100k in Germany compared to $70k here.
However, I believe any company that gets a bailout by the government deserves to be micromanaged. No expensive business trips or parties at our expense especially since meetings can be done on line now.
But US car manufacturers always seem to release their cars 3-5 years after they should have.
Our country is being bought up by foreigners every day and our government is letting it happen. Hopefully GM/Chrysler is not next. We need to consider national security. Kind of hard to use a plant to build military stuff during a war if you don't own it.
However, I believe any company that gets a bailout by the government deserves to be micromanaged. No expensive business trips or parties at our expense especially since meetings can be done on line now.
But US car manufacturers always seem to release their cars 3-5 years after they should have.
Our country is being bought up by foreigners every day and our government is letting it happen. Hopefully GM/Chrysler is not next. We need to consider national security. Kind of hard to use a plant to build military stuff during a war if you don't own it.
Also, The merger will work and I have no problem with a bailout only if upper management changes and CEO's salaries are changed. Great point about military and national security.
11-06-2008, 09:08 PM
#17
Burning Brakes
Maybe Lutz could take a small paycut....about 10 million, and infuse some cash.
they shouldnt get a penny....of our money. We are paying the multimillion dollar salaries to people who know nothing about the car business.
they shouldnt get a penny....of our money. We are paying the multimillion dollar salaries to people who know nothing about the car business.
11-06-2008, 09:17 PM
#18
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I'm sorry but our car companies have been screwed by our government's lack of import control and the government should help out these US companies. Try to buy an American car overseas and you'll get screwed. About $100k for a regular 4LT Vette in Germany. Why do you think we have Europeans on this forum willing to buy a car in the US and pay to have it shipped/converted to their country? Foreign car makes are actually cheaper in the US then their own country. An AMG SLK55 is almost $100k in Germany compared to $70k here.
However, I believe any company that gets a bailout by the government deserves to be micromanaged. No expensive business trips or parties at our expense especially since meetings can be done on line now.
But US car manufacturers always seem to release their cars 3-5 years after they should have.
Our country is being bought up by foreigners every day and our government is letting it happen. Hopefully GM/Chrysler is not next. We need to consider national security. Kind of hard to use a plant to build military stuff during a war if you don't own it.
However, I believe any company that gets a bailout by the government deserves to be micromanaged. No expensive business trips or parties at our expense especially since meetings can be done on line now.
But US car manufacturers always seem to release their cars 3-5 years after they should have.
Our country is being bought up by foreigners every day and our government is letting it happen. Hopefully GM/Chrysler is not next. We need to consider national security. Kind of hard to use a plant to build military stuff during a war if you don't own it.
They should kick the unions to the curb as well.
11-06-2008, 09:21 PM
#19
I agree. GM was having financial problems long before the economy went south and a lot of the blame for that should fall on the current management and the unions. I am also against any government bailout if the current management is allowed to benefit from the bailout at taxpayer's expense. The union workers are going to have to suffer financially just like everyone else in this country. If the union workers can't get it through thick head that they will have to take a hit financially, then let them loose their jobs and see how much worse it can be. I don't have the protections of a union, so I have no sympathy for them either.
11-06-2008, 09:33 PM
#20
Team Owner
