GM in trouble

[uls]

haynako...

if the US govt bails out the automakers, they will just create another money-sucking black hole like AIG

[tidus1203]

EXCATLY. Another AIG. Another zombie company. A huge burden to the coffers of the nation. Remember AIG has no solid business plan as well and they are also like GM saddled by something in AIG's case by souring asset values and overleveraging, in GM's case they are saddled by high employee costs and high legacy costs (including health care benefits and pensions of past employees). AIG has another round of bailout recently since the 1st was depleted and nothing happened they are still dead as they were when they were asking for the 1st bailout. GM will be the same.

[Monseratto]

Yung Senate Inquiry kagabi, the car executives sounded like typical car salesmen("we're excited with our new product line...").

[MAXBUWAYA]

maybe thats why we are seeing more and more GM models heres

Is it safe to use the say "DUMPING their product here in third world where colonial mentality is high."
hehehehehehe

parang Betamax

[donbuggy]

http://edition.cnn.com/2008/US/11/19...ets/index.html

Big Three auto CEOs flew private jets to ask for taxpayer money

By Josh Levs
CNN

(CNN) -- Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout money.

"There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they're going to be trimming down and streamlining their businesses," Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.

"It's almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. It kind of makes you a little bit suspicious."

He added, "couldn't you all have downgraded to first class or jet-pooled or something to get here? It would have at least sent a message that you do get it."

The executives -- Alan Mulally of Ford, Robert Nardelli of Chrysler and Richard Wagoner of GM -- were seeking support for a $25 billion loan package...

[Gerbo]

Back then, the Americans were a proponent of market globalization eyeing new markets....unfortunately the Japanese and lately the Koreans beat them in their own game...

America's auto industry is a glaring example of its excesses and inefficiency. Also licking the heels of the labor unions and poor workmanship contributed to poor quality of vehicles. Also the bread and butter product ----the SUV and pick ups ---are hit by the rising cost of fuel.

Additionally, foreign automakers provide a "best for the buck" vehicles that can really last long.

After 20 years of this kind....its no surprise they fall in hard times. As they say....either shape up or be shipped out.

[CVT]

Yup, a dinosaur caught in this century's lean and mean game.....

Short-sighted and ill-advised management appeasement policies...

7000:diver:

[oliver1013]

http://edition.cnn.com/2008/US/11/19...ets/index.html

Hehe natawa ko dito ah...typical na namumulubi na nga maangas parin

[Monseratto]

This PR disaster for the Big Three may have only doomed their chance for a bailout...

The CEOs of the Big Three automakers reportedly flew private luxury jets to Washington to plead for a $25 billion taxpayer bailout to save their debt-ridden industry — ringing up tens of thousands in charges even as they cried poverty.

Recipients of eight-figure bonuses in 2007, the corporate cowboys used their executive perks — which for GM's Rick Wagoner include the run of a $36 million Gulfstream IV jet — to arrive in style as they went begging before Congress.

Wagoner, whose flight reportedly cost $20,000 round-trip — about 70 times more than a commercial airline ticket — told Congress he expected about $10-$12 billion from the requested bailout.

"This is a slap in the face of taxpayers," Tom Schatz, president of Citizens Against Government Waste, told ABC News. "To come to Washington on a corporate jet, and asking for a handout is outrageous."

[oliver1013]

Anong magiging epekto neto sa ordinaryong pinoy na may lets say 1 year old ford sa garahe? Pag di sila binail out ng gobyerno nila ibig sabihin ba magsasara na sila ng tuluyan? So pano yun? Pati mga casa nila magsasara na din dito? Pano yung spare parts? mawawala na din ba?

[tidus1203]

^^That is a possibility. If Ford totally collapses then obviously support for the vehicle will stop and that includes parts. But in the local scene Mazda MIGHT (and MIGHT is the key word) accept Ford's warranty and might help in the parts. That's why they are facing a double wammy because people in the US don't want to buy a car from a company perceived to be going under since they fear the lack of parts and services and resale value will tumble like a rock.

[AG4]

Anong magiging epekto neto sa ordinaryong pinoy na may lets say 1 year old ford sa garahe? Pag di sila binail out ng gobyerno nila ibig sabihin ba magsasara na sila ng tuluyan? So pano yun? Pati mga casa nila magsasara na din dito? Pano yung spare parts? mawawala na din ba?

Ford is in a better financial position than the other two, so they still have some time to introduce their improved models.

While Ford in the US is down, Ford's European division is actually doing much better (they develop better cars that people actually want to buy).

By 2013, Ford's small and medium cars in the US will be the same as the ones sold in Europe.

The first new Euro Ford model to be sold in the US will be the fuel efficient Ford Fiesta which will go on sale early 2010.

Hehe natawa ko dito ah...typical na namumulubi na nga maangas parin

"Like many other major corporations, all three have policies requiring their CEOs to travel in private jets for safety reasons."
-CNN

I don't know, if you were the head of a large corporation, wouldn't you want to be safe?

^^That is a possibility. If Ford totally collapses then obviously support for the vehicle will stop and that includes parts. But in the local scene Mazda MIGHT (and MIGHT is the key word) accept Ford's warranty and might help in the parts.

Mazda Philippines is under Ford Group Philippines.

[Gen. Miting]

Ford will never be allowed to collapse for the very reason that the Americans still take pride that they are the inventor of the automobile in the person of Henry Ford.

if we'll scan thru Ford's History, there were times that the Fords were implicated in treasonous move to ovethrow a president. the Ford name survived history, but the president is less known today.

if only there is an airplane brand named Wright, siguro hanggang ngayun andito pa yan.

====

now regarding a Toyota that you can own for more than 20 years vs. American cars that you must dispose in 3-5 years. hindi ba't business wise, mas ok yun American kasi palit ng palit ng model.

if we all still use a Nokia 5110 today, malamang lugi na Nokia ngaun.

[Horsepower]

Ford will never be allowed to collapse for the very reason that the Americans still take pride that they are the inventor of the automobile in the person of Henry Ford.

Karl Benz is the acknowledged inventor of automobile (1885).

Henry Ford is known for the concept of "assembly line" in mass production.

[niky]

Hey... I know people who've owned fords for fifty years... and some who've had them for more...

Of course, they don't make cars like that, anymore...

[ChevyChaser]

Anong magiging epekto neto sa ordinaryong pinoy na may lets say 1 year old ford sa garahe? Pag di sila binail out ng gobyerno nila ibig sabihin ba magsasara na sila ng tuluyan? So pano yun? Pati mga casa nila magsasara na din dito? Pano yung spare parts? mawawala na din ba?

At this time, Ford USA makes (or buys) parts for their vehicles that are made in Mexico, for the North American Market, although a few components are still made in Detroit. Ford Asia is tied up with Japanese giant MAZDA. Ford Europe (UK) makes their own cars. Ford Australia used to be tied up with Holden Motors (Aus).

On the GM side, GM USA produces cars in Detroit mainly for the North American Market. GM Europe (including the New Plant outside St. Petersburg, Russia) will start producing cars for the Global Market (meaning Europe, Asia and Americas). Today, here in the Philippines, we get our Chevys from INDIA, CHINA and THAILAND, including parts. None of the GM Product's original components are made in RP or in the US.

It is only CHRYSLER who imports their complete units into the Philippines.

So far, as I perceive things in the news (CNN), it is only the American side of the auto industry that is in trouble which means a lot of americans will lose their jobs, a lot of american part suppliers will close down and the US government tending to lose $155 billion in Taxes.

It doesn't necessarily mean that a collapse of the auto industry in the US will affect ALL auto industry worldwide.

In the same case as AIG, When AIG said it is selling its stakes on Philam Life Insurance, Philam Life is still around. It didn't collapse and the value is still the same. It will just change ownership.

[AG4]

Ford Australia used to be tied up with Holden Motors (Aus).

You mean the parts suppliers right?
The old Holden (Holden's Motor Body Builders Ltd) used to assemble bodies for Ford Australia (and some other brands), then in 1924, they became exclusive to GM. In 1931 Holden became part of GM.

Today, here in the Philippines, we get our Chevys from INDIA, CHINA and THAILAND, including parts. None of the GM Product's original components are made in RP or in the US.

It is only CHRYSLER who imports their complete units into the Philippines.

As far as I know....
Current GM cars in the Philippines are CBU from North America (Tahoe, Suburban), South Korea (Aveo hatchback, Spark) and Thailand (Aveo sedan, Optra sedan/wagon, Captiva).

Ford Group Philippines sell CBU and locally assembled/manufactured vehicles.
CBU from North America (Expedition, Explorer) CBU from AutoAlliance Thailand (Ranger, Everest, Mazda BT-50), local from Sta Rosa plant (Focus, Escape, Mazda 3, Mazda Tribute).

Chryslers sold here (Chrysler, Dodge, Jeep) are CBU from North America and CBU from Austria.

[ChevyChaser]

You mean the parts suppliers right?
The old Holden (Holden's Motor Body Builders Ltd) used to assemble bodies for Ford Australia (and some other brands), then in 1924, they became exclusive to GM. In 1931 Holden became part of GM.

This is correct. Holden of Australia used to make a lot of parts for a lot of different brands until the Early 60s until they decided to do cars on their own (Toranas and Premiers of the 70s).

As far as I know....
Current GM cars in the Philippines are CBU from North America (Tahoe, Suburban), South Korea (Aveo hatchback, Spark) and Thailand (Aveo sedan, Optra sedan/wagon, Captiva).

Don't forget the Chinese version of the Chevrolet Venture.

Ford Group Philippines sell CBU and locally assembled/manufactured vehicles.
CBU from North America (Expedition, Explorer) CBU from AutoAlliance Thailand (Ranger, Everest, Mazda BT-50), local from Sta Rosa plant (Focus, Escape, Mazda 3, Mazda Tribute).

The Focus, which replaced the Lynx, is a run-off from Ford Europe.

Chryslers sold here (Chrysler, Dodge, Jeep) are CBU from North America and CBU from Austria.

Of the 3, Chrysler is the only American Auto Manufacturer that does not have a plant in Asia since the early 70s when their plant in Canlubang was bought off by Mitsubishi (Plymouth Arrow became Mitsubishi Celeste, Dodge Colt/Galant became Mistubishi Galant).

For Mr. oliver1013's worries and woes, no I don't think there not much to worry about. The US Auto industry may die but, the rest of the world will continue. GM, Ford and Chrysler may lose their business in the US Market but the International subsideries may survive.

We will still have Chevys, Fords and Chryslers but they wont be US made.

[Burai]

chrysler pwedeng mag file ng bankrupcy talaga pero GM i don't think so kahit na ba mahigpit si obamma sa kanila, i think GM will survive. ford naman maganda performance compare sa dalawang nabanggit so ford can really survive this threat. pero ang only question ko dito is: pag nagsara ba GM, pano na yung kaso na na-file nila sa chery? mawawalang bisa ba yun? pano rin yung mga chevys at ford kung tamaan man, magsasara din ba? mazda pwedeng sumambot sa for units eh pano naman sa chevy?

[lowslowbenz]

Karl Benz is the acknowledged inventor of automobile (1885).

agree to this...