(800) 853-2651
SHOP NOW

O/T GM /Chrysler need money to merge!

A

Anonymous-0

Well-known Member
Heard on the news this morning that GM and Chrysler want to merge, but need a loan of 10 B to do it. If this happens, 35,000 jobs might be lost. But if they both claim bankruptcy, over a million jobs lost. Did I hear this right? If I did I'm amazed at how far greed has dragged us down
And I doubt it will stop here
I'm glad I'm doing enough farm work to keep my family fed, and making enough money to pay what small bills I have
 
I know damn well these companies were making huge monies on the SUV's they have been selling for the last 5 years or so. Where the hell did the money go.!!!!! Also i know you all have seen the ads buy a truck or car from us and get 5 to 10 thousand dollars cash back just for buying at an inflated stupid price. We are talking 10,000 cash back. !!!!!!!! Wow!!!
Screw them all. Nobody helped me when i needed it.

Farmer
 
Its not greed that dragged us down, its the american consumer. The american consumer voted to put politicians in congress and the white house in the 90"s that lowered the standards for home mortgages.

Its the american consumer that loved big trucks and SUV"s and as soon as gas prices went up(again perpetuated by the american consumers retirement account managers speculating on oil) the wanted fuel efficient cars that only the japanese build instead of the beamoths that american consumers had demanded from GM, Chrysler, and Ford. Companies respond to what you want, and when times get tough and you stop spending money its their employees, which might just be YOU that get hurt.

The used to call recessions and depressions PANICS because that is exactly what they are.
 
Yes, greed has a lot to do with it. If bonus"s and salaries were kept a modest level, all them extra billions could have been invested into the company and paying off debt, not making millionaires out of engineers and CEO"s and managers. I do agree that the government of the 90"s allowed the steps to be taken for companies sending jobs overseas, how can consumers spend when they are all working min wage jobs with no benefits? Plus, we shop for the low price, rather than the Made in America brand where our brothers and sisters work and fear every day their job will be lost due to lack of demand for there product. We complain about everything that is happpening, on here and at the depot, but we do not gather petoitions or make phone calls to those representing us and tell them they are not doing the right thing. ALL government postions should recieve a salary and benifit cut, right NOW. They work for us, all of us. Not vise versa.
 
GM could of and still could save millions by streamlining the company. Get rid of all the redundant parts used between the various models of GMC and Chevy and just built one model.
They could also cut alot of the paperwork and all the sales programs that get sent in next day air freight.
 
Jay, do some research on subprimes; you"ll find the CRA just affected federally chartered banks, and that by far the lions share of subprimes were made by outfits completely outside the CRA"s reach.
In politics, you can never believe either sides pronounciamentos without checking them carefully; greed affects people of all political persuasions.
 
What you consider a modest level of pay and benefits, to some would not be enough! Back in the 70's the steel companies moved out of the rust belt and opened a big hole in the local economy
 
Never have understood the logic of that! Instead of GIVING us cash incentives.........Knock that price off the sticker, It would be something to see the "overhead costs" itemized on the sticker
 
Farmer101Il. Are you saying that in all your years of farming, you have never received any form of government subsidy, payment, support etc. etc. which was possible because of taxes collected from hard working auto company employees ??
 
Hate to say where have you been but they have been talking about this for a while. GM is losing a little over 1 billion a month, Chrysler a little over 1 billion a quarter. Maybe if they merge they can lose money at twice that rate.

As for the job loss, it's roughly 35,000 that will be lost directly through the merger of the two companies, plus they figure another 50,000 jobs lost through the suppliers and outside contractors.

This has been in the works for a while, if you remember back over the summer GM tried selling it’s medium duty truck line off to Navistar. That got blocked by the government on anti-trust issues with lack of competition. If that would have went through, there would be no stopping the merger.

Either way, GM is going to need a loan to buy Chrysler, or they will need a loan to stay afloat, like Chrysler did in the early 80's.

As far as where did the profits go? Same place that put the Dodge brothers in a world of hurt back around the 20's if I remember correctly. Too many dividends, bonuses and payouts. History tends to repeat itself.
 
Let them go neither company has made anything I would buy for a long time and apparently I have lots of company.What was the straw that broke the Camel's back for me was when the GM Union went on strike a few years back and the 'workers' were already being given $81/hr total compensation.Talk about GREEDY and STUPID.
 
I don't know about him but I have never received any support for my farming operation from the gov't and am against all farm support/welfare payments.Let those that can't hack it go broke and go to work for the folks that are better at business.
 
Traditional Farmer,
you hit the nail on the head. Costs were driven up by greedy folks on both sides of the assembly line. Management was short-sighted, focused on the quarterly numbers; union was just plain greedy and treated management like the enemy. The UAW talks a lot about working together, but when the chips are down, they pull out the contract and make mgmnt toe the line.

Notice that ALL makers sales are down, but you don't hear Honda, Nissan, Toyota and others with factories in the US talking about going bankrupt. One reasion is that they don't have the huge legacy costs that prior Big 3 mgmnt agreed to. Health insurance for life? Retire after 30 yrs and get a pension for life? Six-figure buyouts for people to be laid off? NO company can afford to pay out that kind of money forever to people who are sitting on their butts and not producing anything. The UAW killed the Golden Goose and prior Big 3 managers handed them the knife.
 
as far as a car goes I still say Kia they are putting a plant here in Ga. and that means they are moving jobs in instead of out of the U.S.that is my only reasoning and seem to be a good value
 
"I don't know about him but I have never received any support for my farming operation from the gov't and am against all farm support/welfare payments.Let those that can't hack it go broke and go to work for the folks that are better at business."

Well Sir, perhaps you'll live your whole life never needing assistance..............BUT maybe one day due to circumstances out of your control that'll change and you'll either be faced with losing everything or taking a "hand out" in order to keep your farm/operation...........that day will decide whether you still think it's OK for other farmers to let you go broke and whether you'll be happy working for them when the dust settles..................

BTW I'm not sticking up for the union workers, Chrysler, or GM.............they've all been out to lunch for so long it's not funny...............regardless of that, the loss of jobs for so many people is a terrible thing..............
 
"Well Sir, perhaps you'll live your whole life never needing assistance..............BUT maybe one day due to circumstances out of your control that'll change and you'll either be faced with losing everything or taking a "hand out" in order to keep your farm/operation...........that day will decide whether you still think it's OK for other farmers to let you go broke and whether you'll be happy working for them when the dust settles.................. "

I think any business that needs a "hand out" to remain in operation is attempting to operate beyond their pocket book. There are literaly millions of occupations in this country that don't get ANY kind of hand outs, and the natural process of things dictate that if you can't "make it" in whatever occupation then it's usually due to poor financial management and living beyond the scope of one's capabilities.

I farm 180 acres,... and I've never drawn "one cent" in subsidies, or been on the "government teat" in any way, shape, or form, however I have had to bust my butt and work construction (at times) in order to keep my farm.
If I go broke and lose my farm, I figger it's absolutely nobody's fault but my own. I guess, it's just a matter of pride.

I'm glad to see that there are still a few folks like Traditional Farmer around, and that I'm not alone in my distain for "hand outs" of any kind.
 
That's true, but if I remember, the Chrysler loan was paid back after a few years. I doubt If I'll be alive before that type of bailout got paid off.......and I'm only 53
 
My father got paid NOT to raise wheat. A lot of farmers took advantage of this government program, and the US buys wheat from abroad. Never understood the rationality behind that one.
 
at a nearby ford plant the employees are "laid off" and still recieve 80% of their compensation as they sit on their brains at home. The auto industry is overbloated with union perks, lifetime insurance, and overpriced health care. This coupled with the outrageous prices of new trucks and cars means an extinction in the end. After being a member of the teamsters I found that they only help the seniority of the fat and lazy. Whos loses?- its the young employee who wants to work-the elderly employess and retirees will ride the mule into the ground.
Don't worry our government will subsidize their many failures at the expense of the taxpaying citizen
I Vote with my dollars and will never buy one of their overpriced bucket of bolts and tin foil.
Have a great day
 
For all of you who want GM, Ford and Chrysler to go bankrupt because "they're way overpriced".....when all that is left of a Japanese monopoly of Toyota, Nisson, Honda....what will be the free market competative need for them to NOT raise prices on all their vehicles when there is no longer any competitors.....THINK
 
You might want to read this


http://www.businessweek.com/magazine/content/08_37/b4099060491065.htm


It's about Ford and their super smart management.
Don
 
I"ve read that Mercedes dropped Chrysler due to
such poor quality/quality control that they were
spending multi millions buying back lemons under
the "Lemon laws"
Iv"e seen compliants on this, and other forums
about poor front ends, tie rod ends prematurely
wearing out---read in 4 Wheel and Off Road
magazine, articles on how to upgrade Dodge truck
cheap front axles, Dana axles, but "Made" to
Chrysler "Cheap" specs.
I believe that if that merger happens, Chrysler
poor quality will cheapen General motors to the
extent that they both bite the dust
 
I've only owned one vehicle that wasn't made by GM, and I had a hard time getting rid of it quick enough. However, if GM is stupid enough to want chrysler, I'm not sure that I want to buy any more of their products. But that sure won't leave me many options.
 
Yes, they could.

But it means management would've had to fund the pension funds per the actuaries and not depend on future earnings to cover the pension / health care. Instead, they didn't treat it as real cost at the time they were incurred. Most state governments did the same trick, and you have huge bills coming due soon.

Health care you can be a bit more sympathetic due to the rapid escalation in costs.
 
You must log in or register to reply here.

Similar threads

M
TO-20 TSX361 carb questions
Replies
11
Views
775
Mad Farmer
M
A
Need advice 2N purchase
2
Replies
27
Views
3K
Caryc
C
B
Sparkplugs, Sparkplugs, Sparkplugs... oh my.
Replies
17
Views
842
Hobo,NC
Hobo,NC
H
604 timing - need to test my thinking
Replies
3
Views
1K
molinegb
M
W
What Have I done now? 8 Pieces saved from the salvage yar...
3 4 5
Replies
80
Views
9K
Crazy Horse
Crazy Horse
Tractor Parts Tractor Manuals

We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today.

Copyright © 1997-2024 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters
Website Accessibility Policy

Back
Top