And the burn starts- adios Chrysler

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Originally Posted by Quick Orange

It's just a question of will they restructure so that they're more competitive.

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I think if they were going to do that, they would have done it back when it was their own money they were losing.

You would think the oil shortages of the '70s would have taught them about efficiency and QUALITY(above all) meant somehing to the consumer, but evidently the lords of planned obsolescense just didnt get it! Damn the quality! Full bells and whistles ahead!

You're ignoring the fact that people didn't stop buying American cars. People stopped buying anybody's cars.

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Originally Posted by Quick

You're ignoring the fact that people didn't stop buying American cars. People stopped buying anybody's cars.

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That fact can be ignored since Toyota, Honda, Nissan, etc are not operating at billions of dollars of net loss per quarter.

Regardless of consumers' buying habits, the big three are hardly able to stay afloat while foreign automakers are at worst still breaking even in the US market

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Originally Posted by Quick

True they may not have planned for the current crisis and they may not have been trimming down effeciency wise when it didn't look as if they would have to, but you could make the same argument for all the people losing their houses right?

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right. whether a huge corporation or a lone individual... responsibility is the keyword. until people and companies are held accountable for their own stupidity, we won't see an end to all this.

I'm ok (well, mostly) with giving the automakers a loan that must be repaid, although I question whether Chrysler does not have the capitalization given Cerberus' ownership of it. I am definitely against the 'Wall Street bailout'. Like many others, I live within my means. The suits on the Street should be faced with the same situation, not saved from the consequences of folly.

My ¢2 worth.

Wayne

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Originally Posted by bbqncigars

I am definitely against the 'Wall Street bailout'. Like many others, I live within my means. The suits on the Street should be faced with the same situation, not saved from the consequences of folly.

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I totally agree with you, but the banking situation is a complex one.
I believe the execs who were in charge should be criminally prosecuted and held personally liable.
But the banking system itself cannot be allowed to collapse. If it would, then we would probably dive into another great global depression. That would make the 700 B$ seem like a pittance.

The bailout as it is now does not come with enough conditions imo (we've had a bank bailout as well, though for 'only' a couple of B$) but anything is beter than a collapse of the banking system. That would pretty much destroy the modern economies for many years.

I saw this online today and thought I'd share:D