Gm going bk
Cargo Master
Joined: Jan 2004
Posts: 2,512
Likes: 8
From: Cook Forest and Irwin PA
Months ago I warned about taking govt money cuz of the unknown price they will have to pay.
A nationalization of GM or any large company will enable an agenda for sure - a socialist one at that perhaps - but is not a good idea.
I was against it at the time, and now its too late but GM prolly should have did what ford did and handed over all the titles for cash and went at it alone. that would make it a poison pill that no one would want to run.
A nationalization of GM or any large company will enable an agenda for sure - a socialist one at that perhaps - but is not a good idea.
I was against it at the time, and now its too late but GM prolly should have did what ford did and handed over all the titles for cash and went at it alone. that would make it a poison pill that no one would want to run.
Ford Parts Specialist
Joined: Nov 2006
Posts: 88,826
Likes: 784
From: Simi Valley, CA
You don't seem to understand what I'm saying. I'm not saying anything about the auto business. I'm talking about the government business. You can always squeeze more blood out of a taxpayer. At least from the gov's perspective.
We'll see in about 3 weeks. If ChryCo doesn't make it's deal with Fiat and the gov allows them to go into bankruptcy, then I'll very happily be wrong. But I doubt it will happen. The gov will continue to pour cash into them until the economy recovers enough that they can continue on as they have been.
We'll see in about 3 weeks. If ChryCo doesn't make it's deal with Fiat and the gov allows them to go into bankruptcy, then I'll very happily be wrong. But I doubt it will happen. The gov will continue to pour cash into them until the economy recovers enough that they can continue on as they have been.
The automotive press says it will take 20 YEARS for GM to repay the loans.
There are no estimates for ChryCo because in the opinions of these people....there will be no ChryCo at all by the end of 2009.
You know...of course that if either or both goes bankrupt, the bailout money will never be repaid.
Go here and read the real facts: thetruthaboutcars.com.
Quaddriver: As I'm sure you are aware...Ford was able to get that 23 billion dollar loan (in 2005), because at that time, the money was available.
GM and ChryCo are stuck, because...now...there is no money available.
btw: To those that are unaware, Ford put up ALL the company assets to get that loan.
Post Fiend
Joined: Mar 2002
Posts: 19,402
Likes: 38
From: Bonita Springs FL
Cummins can't be too happy about this. How much will anyone bet that within a few years we will start seeing Cummins diesel motors in Chevy and/or Ford trucks?
Ford Parts Specialist
Joined: Nov 2006
Posts: 88,826
Likes: 784
From: Simi Valley, CA
All things considered, Cummins could be left out in the cold.
I tried repping you over that 31 tire size post (THAT'LL SHOW HIM!)...but I got the usual spread it around message.
Cargo Master
Joined: Jan 2004
Posts: 2,512
Likes: 8
From: Cook Forest and Irwin PA
sidebar: I wonder how many banks and bond houses got 'do what we say or else' backed loans?
Post Fiend
Joined: Jan 2005
Posts: 7,147
Likes: 0
The good news is: Fords new fuel effient products and quality on par with the best in the industry helped ford increase retail market share in march to it's highest level since december 2006. Capping 2 consecitive quarters of retail share gains. Ford estimates it's retail share performance from october 2008 through march 2009 was the strongest of any major manufacture compared to the same period a year ago.
Senior User
Joined: Apr 2003
Posts: 415
Likes: 0
From: Jerseyville,IL
I think if they file for bankruptcy, assets should be sold off till the bailout money is recovered. It was a bad idea anyways, I don't own a GM, never will own a GM, why should my tax dollars be given to them to throw away as they have done so far with the bailout money. Same goes for my neighbors house I now own part of, when can I move in? I'd love to get my hands on some of that bailout money to go out and spend on some booze and ******. I'm not in the best financial shape, but I just scrape by. I take time to budget my money each month and live within my means. Anyways, I have not ever seen anyone buy their way out of debt. I don't see any of this bailout working. It's gonna take work, as in putting people to work, not giving handouts. They need to put the money into the highway system and other projects that will create jobs for people to earn money like they did in the old days.
Post Fiend
Joined: Jan 2005
Posts: 7,147
Likes: 0
They could stand to put more people to work at the boarder before the drug wars spill out over here more than they allready are. At least we would be getting something for our money. We can't keep writing checks with our mouths that are butts can't cash. We can't spend ourselfs out of this mess.
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Fleet Mechanic
Joined: Jan 2007
Posts: 1,741
Likes: 3
Originally Posted by Number Dummy
All things considered, Cummins could be left out in the cold.
Dodge is only one (of many) customers for the B-series engine. And the B-series engine is only ONE of many engine platforms built by Cummins.
Given that the 2010 emissions regs are whacking EVERYONE over the head, losing that particular emissions nightmare MIGHT not be that bad a deal for Cummins. The urea-swilling B-series are used almost exclusively in Dodge products; every other market won't see the tight regs until 2012 or later (by which time, hopefully something will be around to replace urea).
However, given that the Dodge/Cummins trucks are probably the ONLY profit center left in the Chrysler stable, I'd bet that the trucks get sold to another manufacturer. Daimler Trucks North America (formerly known as Freightliner) already sells the 4500-5500 series Dodge trucks with a Sterling badge on them. It would not surprise me in the slightest to see the Dodge trucks being sold from Freightliner dealers in the near future.
-blaine
Ford Parts Specialist
Joined: Nov 2006
Posts: 88,826
Likes: 784
From: Simi Valley, CA
In December 2007, Automotive News interviewed Carlos Ghosn, CEO of Renault (Renault has controlling interest of Nissan). Ghosn said (at that time) a working agreement had been signed with ChryCo to build a small car for them. In turn, Dodge will build the next generation of Titans (in Mexico).
If...and when that plays out, since ChryCo is now close to bankruptcy...is yet to be seen.
I mention this because Nissan could be a player for Dodge Trucks.
My comment inre to Cummins left out in the cold meant that Ford and GM would prolly not be interested in their diesel engines.
While the diesel engine is used in other vehicles, I would think that Dodge has been Cummins most valued customer.
Ford Parts Specialist
Joined: Nov 2006
Posts: 88,826
Likes: 784
From: Simi Valley, CA
Someone...I assume...will end up with Jeep, which as you know...is the most traveled brand in the world.
Jeep has been owned by:
American Bantam (who designed it).
******-Overland
Kaiser
AMC
Renault
Chrysler
Daimler/Chrysler
And now Chrysler...again.
During WWII, Ford also assembled Jeeps, but never owned Jeep.
******-Overland got the initial US Gov't contract, because American Bantam did not have the facilities to assemble Jeeps.
But...from 7 December 1941, when the US became involved in WWII, ****** could now...no longer keep up with the demand, so Ford got involved.
In 1953, Henry J. Kaiser of Kaiser Motors (formerly Kaiser-Frazer) bought ******-Overland. The company name was changed to Kaiser-Jeep Corporation in 1955.
AMC bought Kaiser-Jeep on February 5, 1970. Renault gained controlling interest in AMC in the early 1980's, then after running AMC into the ground, sold the remains to Chrysler.
