Big 3 bailout?
I know many folks are pretty cavalier about the prospect of America losing it's auto industry. This guy makes a pretty compelling case for a bailout and for the need to have a U.S. auto industry.
Personally, I'm for it. Yes, management has been incompetent in many cases, unions are overpaid, quality has sucked, but GM and Ford are beginning to do things right, and if they can just make it through the next year or so, I believe they can make it. It's worth a shot, IMO. http://www.motortrend.com/features/e...ure/index.html |
Not me. No way. Crappy overpriced cars. They got what was coming to them, due to (among other things) their complete and utter failure to prepare for rising gasoline costs, relying almost wholly on SUV sales to stay afloat.
I much prefer the part of Romney's proposal that emphasizes transitioning Detroit in to the capital of America's energy sector. That seems much more viable to me. |
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It is interesting to read the shift on both boards.
A month or two ago, maybe more, lots of people clamoring to simply "let the market work it out." Now that it is evident that this thing is a cluster-f of epic proportions, people are finally coming around to realizing that which some of us already knew....that there are times when government intervention is absolutely the right thing to do and that bailing out idiots, despite their stupid behavior, is in the best interest of society. Get your checkbooks out friends. You are now paying for my house, my car, and my gas. Gasp. socialism! |
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performance and reliability have definitely improved with American cars, but have they truly caught up with the Japanese? I know you can drive an Accord for 150K miles without batting an eyelash. Can you do the same with an American counterpart? I honestly don't know. My beef with the American models is styling. The exteriors are usually very dull. And the interior panels always bug me....it looks like cheap plastic, there are about 3 large knobs to control everything, and the displays are usually unimpressive. The Japanese do a much better job with the paneling and instrumentation.....digital, lots of lights, lots of gadgets, looks like a cockpit. Bells and whistles matter. |
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Under bankruptcy protection they'd get new owners, likely restructure their debt and their contractual obligations (read: UAW). GM is not going away, don't worry. The market has reacted appropriately to these companies' mistakes and they should be made to pay for them. In the long run, that's a better option than propping them up artificially and allowing them to limp along. I may be unduly influenced by my oath to never buy another American car, too. |
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It is also no stretch that their entire market share was built around SUVs. That was pathetically short-sighted. |
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