If you think GM or Ford will ever truly go out of business in your lifetime

Discussion in 'OT Driven' started by heebdawg16, Nov 11, 2008.

  1. heebdawg16

    heebdawg16 New Member

    Joined:
    Feb 11, 2006
    Messages:
    48,566
    Likes Received:
    0
    Location:
    Maryland
    then you are probably retarded.

    The executives at GM could pour $1 billion in cash out in front of headquarters every day of the week and set it on fire for no reason, and they will still be around for all of time.

    The amount of jobs lost by GM or Ford going under would demolish our economy and demoralize american investors so much that our country would fall into a severe depression.
     
  2. somer

    somer OT Supporter

    Joined:
    Jul 7, 2003
    Messages:
    15,370
    Likes Received:
    89
    sorry bro, no more mustang :(
     
  3. warped

    warped pearl jam > * OT Supporter

    Joined:
    May 17, 2004
    Messages:
    30,433
    Likes Received:
    78
    Location:
    Minnesnowta
    lol k
     
  4. DuckMySick

    DuckMySick OT Supporter

    Joined:
    Apr 17, 2007
    Messages:
    21,557
    Likes Received:
    4
    All the fired workers can be retrained to fight global warming. Economy saved.
     
  5. heebdawg16

    heebdawg16 New Member

    Joined:
    Feb 11, 2006
    Messages:
    48,566
    Likes Received:
    0
    Location:
    Maryland
    i hate ford.

    and i used to like GM, but now hate them too.

    Even still, they will be around forever.
     
  6. ChosenGSR

    ChosenGSR Mama always said you'd be the chosen one

    Joined:
    Oct 24, 2001
    Messages:
    50,998
    Likes Received:
    218
    Location:
    HoCo, MD
    Actually setting those billions of dollars on fire might actually be better than what they are doing with that cash. At least burning the cash will in turn reduce the number of dollars out there hence increasing the value of the US of A $ :hs:
     
  7. TriangleMan

    TriangleMan What doesn't kill you is going to die

    Joined:
    Sep 21, 2001
    Messages:
    89,093
    Likes Received:
    0
    Location:
    Floriduh
    I think a billion dollars on fire has a smaller carbon footprint than one of their trucks :rofl:
     
  8. WickedLou9

    WickedLou9 Deep cover terrorist gerbil

    Joined:
    Jun 27, 2000
    Messages:
    44,866
    Likes Received:
    18
    Location:
    South Jersey
    Actually at the rate GM is burning through cash, they will be out of money next year.
     
  9. Mugatu

    Mugatu Ask me about market research. OT Supporter

    Joined:
    Oct 21, 2001
    Messages:
    245,192
    Likes Received:
    0
    Enron was the world's largest company when they tanked.
     
  10. heebdawg16

    heebdawg16 New Member

    Joined:
    Feb 11, 2006
    Messages:
    48,566
    Likes Received:
    0
    Location:
    Maryland
    heres a novel idea for American Car Companies:

    1) Do EVERYTHING in your power to try and rid yourself of the fucking United Auto Workers Union (UAW). It is the ONE and ONLY possible chance you have of ever fucking becoming respectable organizations again. I realize how fucking tough of a task this would be, but its the only chance you have.

    2) Reduce the number of fucking repetitive labels you have. No more selling the SAME car with Chevy, Pontiac, Buick, and Cadillac at the SAME TIME. Reduce your brands down to JUST Chevrolet and Cadillac. Thats it.

    3) FUEL ECONOMY IS IMPORTANT. Even though gas prices have dropped back down near the $2.25 range again, USE THIS AS AN OPPORTUNITY TO GET YOURSELF AHEAD OF THE CURVE. Making a Civic-sized car that still somehow barely gets 30mpg on the highway is not going to motherfucking cut it.
     
  11. M3Driver

    M3Driver New Member

    Joined:
    Oct 28, 2003
    Messages:
    5,622
    Likes Received:
    0
    Location:
    Minneapolis
    you're an idiot
     
  12. Bona Fide

    Bona Fide Guest

    Oh, you mean that the govt will keep bailing them out.
     
  13. careface

    careface Active Member

    Joined:
    Aug 22, 2003
    Messages:
    36,689
    Likes Received:
    0
    Location:
    AZ > *
    this is exactly what people said about AIG, Lehman Bros, and Washington Mutual
     
  14. ChosenGSR

    ChosenGSR Mama always said you'd be the chosen one

    Joined:
    Oct 24, 2001
    Messages:
    50,998
    Likes Received:
    218
    Location:
    HoCo, MD
    white collar vs. blue collar jobs
     
  15. heebdawg16

    heebdawg16 New Member

    Joined:
    Feb 11, 2006
    Messages:
    48,566
    Likes Received:
    0
    Location:
    Maryland
    Ford and GM represent something much more important to our image than AIG and Lehman.

    You can replace AIG and Lehman, there are tons of other big financial firms. But Ford and GM represent American Achievement from our industrial boom. They secured us a place as a leader among industrialized nations.
     
  16. NorKoastal

    NorKoastal New Member

    Joined:
    Apr 15, 2004
    Messages:
    3,541
    Likes Received:
    0
    Location:
    Obamanation
    Great statement... Those dipshits at GM need to put massive funding behind getting the Volt released as soon as possible. Industrial to Green revolution.
     
  17. spitfyre

    spitfyre OT Supporter

    Joined:
    Jun 3, 2004
    Messages:
    37,303
    Likes Received:
    19
    Location:
    Cambridge
    DETROIT–Bad news kept piling up for General Motors today as its shares plunged to their lowest point in 60 years and some industry analysts predicted the automaker would collapse without a government bailout.
    In addition, GM said it would cut 1,900 factory jobs on top of the 3,600 cuts announced on Friday.
    "Without government assistance, we believe that GM's collapse would be inevitable, and that it would precipitate systemic risk that would be difficult to overcome for automakers, suppliers, retailers and sectors of the U.S. economy," Deutsche Bank's Rod Lache wrote in a note to investors.
    He essentially said GM's common stock is worthless by cutting his price target to $0.
    GM shares dropped US$1, or 23 per cent, to close at $3.36. Shares slipped at one point to $3.02, the lowest level since Dec. 2, 1946, according to the Centre for Research in Security Prices at the University of Chicago. The price is adjusted for splits and other changes.
    The weakening economy and tight credit markets have worsened conditions for the Detroit-based automaker, which has been reporting steep sales declines from foreign competition and changing consumer preferences.
    On Friday, the automaker reported a $2.5-billion loss in the third quarter and warned that its cash levels could fall below what's needed to run its business by the end of the year if the U.S. economy doesn't turn around and it doesn't get government aid.
    GM also said in a regulatory filing today that Delphi Corp., its former parts operation that was spun off as a separate company in 1999, may never emerge from Chapter 11 bankruptcy protection. It also echoed statements from last week that the mortgage unit of its finance arm may not survive.
    Lache said today that GM, whose cash burn accelerated to $6.9 billion during the third quarter, would be unable to fund its operations past December without a government bailout. That's assuming suppliers don't tighten commercial payment terms.
    The three U.S.-based automakers have been pressing for an additional $50 billion in loans from Congress to help them survive the tough economy and pay for health care obligations for retirees. That's on top of a previously approved $25-billion government loan package for new technology.
    Lache estimated that the government will need to provide GM with $10 billion in loans to keep it going through 2010 and as much as $25 billion to fund its cash burn and recovery.
    The 1,900 additional layoffs will come in the first quarter of next year at parts stamping, engine and transmission factories in North America as GM cuts expenses to deal with a worsening cash crisis.
    Spokesman Tony Sapienza said the cuts are in addition to 3,600 factory layoffs announced on Friday, bringing the total announced in the past week to 5,500.
    Sapienza would not say which plants would be affected by the new round of layoffs. GM has 26 powertrain and 22 stamping plants in North America.
    The layoffs will be indefinite, he said, but there will be no plant closures.
    GM also filed a notice with the state of Michigan saying it would lay off 650 factory workers and another 52 salaried employees at its Orion Township, Mich., assembly plant starting Jan. 23. Sapienza said those layoffs are part of the 3,600 announced Friday.
    The Orion plant makes the Chevrolet Malibu and Pontiac G6 sedans, which Sapienza said are selling well but have fallen victim to the overall U.S. market decline.
    At Delphi, if the struggling parts maker can't find new investors and can't escape from bankruptcy, it may be forced to sell its assets, and that could cost GM more money, the automaker said in its filing.
    "As a result, we may be required to pay additional amounts to secure the parts we need until alternative suppliers are secured or new contracts are executed with the buyers of Delphi's assets," GM's filing said.
    Out of necessity, GM took a greater role in Delphi's reorganization this fall after a group of equity investors pulled out of a deal to invest up to $2.55 billion in April. Delphi has been operating under court protection since Oct. 8, 2005.
    GM's finance arm, GMAC LLC, said last week that auditors had raised doubts about the viability of its mortgage business, Residential Capital LLC. GM repeated that warning in a regulatory filing today, saying the value of ResCap's mortgage loans have deteriorated due to weak housing prices, delinquencies and defaults, while the company also is having trouble raising capital.
    GMAC is 51 per cent owned by the New York-based private equity firm Cerberus Capital Management LP, while GM holds the rest.
    Before the markets opened Monday, Brian A. Johnson of Barclays Capital cut his price target for the Detroit-based automaker to $1 from $4. The analyst also said that while additional government assistance could decrease the likelihood of a bankruptcy protection filing at the largest automaker in the United States, it also would likely significantly dilute its equity.
    If the government steps in, shareholders may be shut out because, similar to bankruptcy rules, the automaker's secured and unsecured credit holders are better protected than equity holders.
    Also today, the entire Michigan congressional delegation in a letter urged Treasury Secretary Henry Paulson "in the strongest possible terms" to use authority given him under the $700 billion Wall Street bailout legislation to provide emergency help to domestic automakers. They said the struggles of the auto companies were "well within the broad mandate of the Treasury Department to promote stable economic growth."
    Over the weekend, Democratic leaders in Congress urged the Bush administration in a letter to consider expanding the $700 billion financial bailout to include the U.S. auto industry.
    White House spokesperson Dana Perino said today that protecting the financial markets "is what Congress had in mind when it passed that rescue package. There was not discussion of specific help to auto companies during that debate, and so Congress' intent was to help financial institutions."
    Perino said "that doesn't mean that Congress wasn't also thinking about the auto industry," since Congress approved $25 billion in loans for the companies to retool plants to build more fuel-efficient cars. If Congress chose to provide more help to the auto industry, Perino said the White House would listen.
    A Treasury Department spokesperson said today they were reviewing the letter from the Democratic leaders.
     
  18. spitfyre

    spitfyre OT Supporter

    Joined:
    Jun 3, 2004
    Messages:
    37,303
    Likes Received:
    19
    Location:
    Cambridge
    not looking good :(
     
  19. Josepi

    Josepi HA HA, I CHANGED MY AV

    Joined:
    Oct 5, 2001
    Messages:
    117,441
    Likes Received:
    1
    The "big" 3 really don't employ the millions of people you'd think they would.
     
  20. squid

    squid braap

    Joined:
    Sep 3, 2007
    Messages:
    4,148
    Likes Received:
    0
    Location:
    91403
    If you think companies have limitless cash and will never go bankrupt...you're probably an idiot
     
  21. AtheistUnicycle

    AtheistUnicycle hey baby let me heuristically estimate your pussy

    Joined:
    May 20, 2008
    Messages:
    10,287
    Likes Received:
    0
    Location:
    Valley Stream/Potsdam, NY
    Wishful thinking != Truth. Just because something is bad, doesn't mean it can't happen. Not saying they WILL go under, I'm just saying your proof/argument is flawed.
     
  22. GBlansten

    GBlansten OT's Bean Doc OT Supporter

    Joined:
    Aug 9, 2004
    Messages:
    41,312
    Likes Received:
    117
    Location:
    Thick Ascending Limb
    I am retarded. I'm stunningly nescient.
     
  23. V!

    V! New Member

    Joined:
    Dec 20, 2004
    Messages:
    28,709
    Likes Received:
    0
    Location:
    Local MOTOGP Track
    Either GM or Ford will fail


    I'm hoping it's Ford.......
     
  24. Mint

    Mint Active Member

    Joined:
    Jun 22, 2007
    Messages:
    5,208
    Likes Received:
    0
    Location:
    Southern Cali
    Its going to be too expensive to help the company that much.

    They'd need to sell a Green car in the toyota corolla / civic price range.


    Not 30-40k
     
  25. Supernoma

    Supernoma servus publicae OT Supporter

    Joined:
    Aug 30, 2002
    Messages:
    11,823
    Likes Received:
    4
    Location:
    Dayton, OH
    Ford is financed to the hilt, and spent most of that cash already. Too bad GM couldn't even get a secured credit card if their life depended on it.
     

Share This Page