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  1. Join Date
    Nov 2005
    Posts
    39,081
    #21
    haynako...

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

  2. Join Date
    Feb 2008
    Posts
    14,181
    #22
    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.

  3. Join Date
    Sep 2003
    Posts
    23,288
    #23
    Yung Senate Inquiry kagabi, the car executives sounded like typical car salesmen("we're excited with our new product line...").

  4. Join Date
    Oct 2002
    Posts
    1,842
    #24
    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

  5. Join Date
    Jan 2007
    Posts
    2,899
    #25
    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...

  6. Join Date
    Jul 2008
    Posts
    1,888
    #26
    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.

  7. Join Date
    Dec 2005
    Posts
    38,990
    #27

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

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

    7000:diver:

  8. Join Date
    May 2006
    Posts
    6,931
    #28
    Hehe natawa ko dito ah...typical na namumulubi na nga maangas parin

  9. Join Date
    Sep 2003
    Posts
    23,288
    #29
    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."

  10. Join Date
    May 2006
    Posts
    6,931
    #30
    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?

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