GM bankruptcy not 'far-fetched' - Page 2 - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #11 of 31 (permalink) Old 12-12-2005, 10:13 PM
BenzWorld Elite
 
Date registered: Sep 2004
Vehicle: 95 E300
Location: Inside my head
Posts: 36,850
Mentioned: 0 Post(s)
Quoted: 392 Post(s)
RE: GM bankruptcy not 'far-fetched'

Quote:
GMISBEST - 12/13/2005 12:04 AM

He he he. You guys can stop now. In truth I can think of nothing better that GM going bust and see their horrible automobiles permanently removed from our roads.

But I have to admit that I am a little astounded at just how hard many of you guys argued and justified against some misguided fool...
Misguided fool? Did ANYBODY fail to infer that?
Botnst is offline  
Sponsored Links
Advertisement
 
post #12 of 31 (permalink) Old 12-12-2005, 10:19 PM
BenzWorld Elite
 
azimuth's Avatar
 
Date registered: Jan 2005
Posts: 2,369
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
RE: GM bankruptcy not 'far-fetched'

Quote:
GMISBEST - 12/13/2005 12:04 AM

He he he. You guys can stop now. In truth I can think of nothing better that GM going bust and see their horrible automobiles permanently removed from our roads.

But I have to admit that I am a little astounded at just how hard many of you guys argued and justified against some misguided fool claiming that GM (and not just any GM but possibly one of their worst - an Alero) is the way to go. That post with over 300 responses stretching 11 pages to the point where it won't take any more replies will unfortunately give me and my (Bayerische Motorische Werke enthusiast) friends a giggle for a long time to come. That was priceless.

Thanks for the fun (well, I had fun) and good bye![:D]
You may have had hidden allegiances, but you are still nastificently racist.

aborted Shop Forum member

azimuth is offline  
post #13 of 31 (permalink) Old 12-13-2005, 07:21 PM
BenzWorld Elite
 
Shabah's Avatar
 
Date registered: Nov 2004
Vehicle: 300c (1956)
Location: 19 05'40.0 N, 49 49'09 E
Posts: 2,773
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
RE: GM bankruptcy not 'far-fetched'

Who killed General Motors?

by Patrick J. Buchanan
December 12, 2005

Willys built the jeeps that carried Ike's armies across Europe. Ford built the Sherman tanks. Packard made the engines for JFK's PT boat and for the P-40s of Claire Chennault's Flying Tigers. Studebaker built the Weasel armored personnel carrier.

Chevrolet built the engines for the Flying Boxcar, Buick for the B-24 Liberator, Oldsmobile for the B-25 Mitchell Col. "Jimmy" Doolittle flew in his "Thirty Seconds Over Tokyo" raid in 1942.

Nash-Kelvinator built the Navy Corsair and Hudson the Helldiver that succeeded the Dauntless dive-bomber that sank four Japanese carriers at Midway. But no company matched the contributions to victory of General Motors, the greatest company of them all.

Now, most of those companies with the legendary names – Packard, Hudson, Studebaker, Nash, Oldsmobile – are gone. Of the "Big Three" that survive, Chrysler is German-owned, and Ford and GM are bleeding, and their debt has fallen to junk-bond status. Delphi, the auto-parts supplier for GM, just declared bankruptcy.

Thanksgiving week – its share of the U.S. market down from 46 percent, 30 years ago, to 26 percent today – GM announced the closing of nine more American plants and the dismissal of 30,000 more workers.

Many reasons are given for the decline of the U.S. auto industry. The Volkswagen "Beetle" that invaded America in the late 1950s, the Toyotas and Hondas that followed, the Korean Kias coming in today are, we are told, cheaper and more reliable, and deliver better mileage. But there is a more basic reason for America's industrial decline.

A sea change has taken place in the mindset of our elites. The economic patriotism of Hamilton and Henry Clay, of Lincoln and T.R. and, yes, of the Robber Barons of the Gilded Age, who forged America into the mightiest industrial machine the world had ever seen, is dead.

To the economic patriots of the Old Republic, trade policy was to be designed to benefit, first, the American worker. They wanted American families to have the highest standard of living on earth and U.S. industry to be superior to that of any and all nations. If this meant favoring American manufacturers with privileged access to U.S. markets and keeping foreign goods out with high tariffs, so be it.

But that Hamiltonian America-First vision that guided us for 150 years no longer informs our politics. Economic patriotism is dead.

For the Davos generation of leaders puts the Global Economy first. They are all good internationalists. If it's good for the Global Economy, it must be good for America. Theirs is a quasi-religious faith in that same free-trade ideology for which Hamilton, Clay, Lincoln and T.R. had only spitting contempt.

And like Marxists who refuse to question their dogmas, despite manifest signs of failure, our free-traders believe that everything that is happening to America has to be happening for the best.

That U.S. manufacturing that once employed a third of our labor force now employs perhaps 10 percent does not matter. That the most self-sufficient nation in history, which produced 96 percent of all that it consumed, now depends on foreigners for a fourth of its steel, half its autos and machine tools, two-thirds of its textiles and apparel, and most of its cameras, bicycles, motorcycles, shoes, televisions, videotape machines, radios, etc. does not matter.

That tens of thousands of foreign workers are brought in each year by U.S. employers to take high-tech jobs, that U.S. factories are shut down daily here while opening in China, that professional work is being outsourced to India, that we borrow $2 billion a day to finance consumption of foreign goods – none of this matters. The nation does not matter. The country does not matter. For we are all now in a Global Economy.

And so, as the jobs and skills of U.S. manufacturing workers disappear, and the taxes they pay into Social Security, Medicare, and federal and state governments fall, and the cost of their pensions is passed on to taxpayers, and the government goes deeper into debt to cover rising social costs corporations used to carry, other countries quietly observe.

Fifty years ago, a trade deficit of 6 percent of GDP, a hemorrhaging of manufacturing jobs and a growing dependence on foreign nations for the vital necessities of our national life would have been taken as signs of the decline and fall of a great nation.

Our elites tell us that we have simply not read Thomas Friedman, we do not understand that the old Hobbesian world is history, that we have entered a new era of interdependence, where democracy and free markets will flourish and usher us all into a golden age – and we Americans will lead the way.

If they are right, we are Cassandras. If they are wrong, they are fools who sold out the greatest country in all history for a mess of potage.
Shabah is offline  
post #14 of 31 (permalink) Old 12-14-2005, 09:06 AM
BenzWorld Extremist
 
Misfit's Avatar
 
Date registered: Nov 2005
Vehicle: '09 B200, '05 Smart
Location: Ontario - Canada
Posts: 980
Mentioned: 0 Post(s)
Quoted: 1 Post(s)
RE: GM bankruptcy not 'far-fetched'

Just feel sorry for poor Rick Wagoner - he was trying to find gmisbest & give him a rebadged Daewoo !!!
Misfit is offline  
post #15 of 31 (permalink) Old 12-14-2005, 09:09 AM
BenzWorld Extremist
 
Misfit's Avatar
 
Date registered: Nov 2005
Vehicle: '09 B200, '05 Smart
Location: Ontario - Canada
Posts: 980
Mentioned: 0 Post(s)
Quoted: 1 Post(s)
RE: GM bankruptcy not 'far-fetched'

Quote:
firstmb - 12/12/2005 7:52 PM

NEW YORK (Reuters) - A bankruptcy by General Motors Corp. is not a "far-fetched possibility"
A recent article in business week outlined everything fairly well - GM has lots of cash - but at a burn rate of about 4 Billion per year - they could reach a cash flow prob within 5 years unless they drastically reduce capacity

As far as the effect - Enron had about 85,000 people & its demise took a full percentage point of the US GDP - GM with 135,000 - just image - also include that the current accepted ratio of support jobs to primary auto jobs is 7 to 1 - that can make a pretty big dent .....
Misfit is offline  
post #16 of 31 (permalink) Old 12-14-2005, 01:14 PM
Always Remembered RIP
 
Date registered: Dec 2005
Vehicle: 220SEb coupe & 500SL
Location: Derbyshire, England.
Posts: 393
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
RE: GM bankruptcy not 'far-fetched'

Quote:
GMISBEST - 12/11/2005 5:04 AM
give me and my (Bayerische Motorische Werke enthusiast) friends a giggle for a long time to come.[:D]
You do know imaginary friends don't count?

- Jason



'61 Mercedes 220SEb coupe
'64 Land Rover IIa
'83 Mercedes 500SL
heckflosse_uk is offline  
post #17 of 31 (permalink) Old 12-14-2005, 01:29 PM
BenzWorld Elite
 
FeelTheLove's Avatar
 
Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Posts: 28,829
Mentioned: 0 Post(s)
Quoted: 8 Post(s)
RE: GM bankruptcy not 'far-fetched'

Quote:
Misfit - 12/14/2005 11:09 AM

Quote:
firstmb - 12/12/2005 7:52 PM

NEW YORK (Reuters) - A bankruptcy by General Motors Corp. is not a "far-fetched possibility"
A recent article in business week outlined everything fairly well - GM has lots of cash - but at a burn rate of about 4 Billion per year - they could reach a cash flow prob within 5 years unless they drastically reduce capacity

As far as the effect - Enron had about 85,000 people & its demise took a full percentage point of the US GDP - GM with 135,000 - just image - also include that the current accepted ratio of support jobs to primary auto jobs is 7 to 1 - that can make a pretty big dent .....
I don't think the comparison to Enron is valid - GM's demise would be far bigger. Enron was a big shell game - GM, on the other hand, has a supply chain of thousands of other manufacturing companies. The ripple effect would be enormous. I just don't see the government allowing it to happen.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
FeelTheLove is offline  
post #18 of 31 (permalink) Old 12-14-2005, 01:58 PM
~BANNED~
 
Date registered: Aug 2002
Posts: 41,649
Mentioned: 6 Post(s)
Quoted: 1763 Post(s)
RE: GM bankruptcy not 'far-fetched'

Imagine what competitive products would do for GM. Imagine that! Not image, advertising, brand placement, or timing. Just a product good enough to put people's fears aside and bring them back into the fold.
Shane is offline  
post #19 of 31 (permalink) Old 12-15-2005, 09:44 AM
BenzWorld Extremist
 
Misfit's Avatar
 
Date registered: Nov 2005
Vehicle: '09 B200, '05 Smart
Location: Ontario - Canada
Posts: 980
Mentioned: 0 Post(s)
Quoted: 1 Post(s)
RE: GM bankruptcy not 'far-fetched'

Quote:
I just don't see the government allowing it to happen.
That is if the government is willing to step in - and what i was saying is that if it does fail - the effects would be 7 to 10 times worse than Enron

No good old FedGovCo stepped in for ChrysCo - but will they do it again ???
Misfit is offline  
post #20 of 31 (permalink) Old 12-15-2005, 09:53 AM
BenzWorld Elite
 
FeelTheLove's Avatar
 
Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Posts: 28,829
Mentioned: 0 Post(s)
Quoted: 8 Post(s)
RE: GM bankruptcy not 'far-fetched'

I don't think they would have a choice - if GM had to liquidate, it would liquidate the US economy in the process.

The ulimate solution is to sell GM to Japan, Inc.


Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
FeelTheLove is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome