17.4 Billion Bailout for The Big Two

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RPM

RPM

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Just announced Bush has passed a 17.4 Billion Bailout fund for two of the Big Three. Chrysler and GM will get the funds while Ford says they dont need the loan at this time. (kinda makes ya wonder what Ford is up to).

I know being in the auto retail biz myself that this will soon help move some cars, however, its not going to happen overnight.

Now lets see how many other companies start requesting bailouts.

Fun days.

-RPM
 
i too am wondering what ford is up to? at first they needed it and then they don't?? i am wondering if they are sitting back and biding their time to see if they can make a bid to take over someone.....
 
got a link? so how is giving them money gonna make people buy cars? i sure hope there were major conditions for them to recieve money. don't want to see a repeat of those AIG asswipes. there better be big differences in the way their business is structured. starting at the top.
 
Ford has said every car it produces by 2010 will have eco-boost (turbo)motors 20% better fuel economy!This might help with sales??
 
Ford actually made adjustments and cuts in the last 3rd quarter forseeing a upcoming problem. The managed to hold there own head up. They were at the meetings with GM and Chrysler to offer support. If the other twoauto makers fail Ford will have a difficult time getting product to build there cars. Example is car seats. The same Vendor that Ford uses also sells to GM and Chrysler. If GM and Chrysler fail the vendors will fail. So Ford needs the other Big Two in the mix. Its a little more than that, but thats just a small example.

-RPM
 
Im in the auto biz too, I could use some of that bail out money, LOL

Theres gonna be a line of people with there hand out now.
 
Did anybody see Leno last night, he showed a clip of a reporter interviewing a Ford Rep and when it wasn't all doom and gloom he sort of just, yeah whatever and walked off. I guess good news doesn't sell, personally I could use some once in a while :-D
 
The government will have the option of becoming a stockholder in the companies, much as it has with major banks, in effect partially nationalizing the industry.
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Oh boy, Communist America, here we come !

http://news.yahoo.com/s/ap/meltdown_autos

700 billion in bail out money total. Is'nt there something else we could do with the money other then bail out companies that made bad finance discussions ? Take that 700 billion and giver every tax payer a mill. Let them pay there bills and blow the rest. That would get the economy moving much faster.
 
AdamR said:
Oh boy, Communist America, here we come !

http://news.yahoo.com/s/ap/meltdown_autos

700 billion in bail out money total. Is'nt there something else we could do with the money other then bail out companies that made bad finance discussions ? Take that 700 billion and giver every tax payer a mill. Let them pay there bills and blow the rest. That would get the economy moving much faster.
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Brillant! I nominate AdamR for president. with a mill. I could hire a bunch of employees, expand my business, create jobs. Is`nt that what the fed`s trying to do?
 
Can you say the comminust states of america . We have started donw a slippery slope and the only thing leadership can say is more speed.

This aint gona turn out good
 
did anybody see the show the other day. ford has a new plant in brazil thats more modern and can make cars faster and cheaper, wants to start making more of there vehicles over there instead of here. they want to build that kind of plant here but the uaw wont go for it. takes alot less workers to run the plant and put workers out of a job. guess thats why they backed out.
 
I agree with Adam. If they gave me even $300K I would certainly pay off my house, pay all my bills, and then go to the proverbial candy store and buy all the things I ever wanted and probably still have money left over. This would help the banks, the credit card companies and the car companies and it wouldn't go to some exec to blow on spa treatments. Boy wouldn't that be the ultimate gift card in your stocking this year. Another simple and fair way to do things would be to give everyone 5 times what they filed on their taxes last year. You can either blow it like some white collar idiot or at least have peace of mind for the next few years if you continue to live like you did in the last year. I'm sure in the long run it would be cheaper for all us tax payers and WE actually get a direct benefit instead of some corporation that wastes it anyway.
 
A japanesse reporter was stopped before he could throw brake shoes at Georgie. LOL

SNOWMAN[1].gif
 
AdamR said:
Oh boy, Communist America, here we come !
Is'nt there something else we could do with the money other then bail out companies that made bad finance discussions ?
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Keep in mind a good chunk of the financial crisis is due to taxpayers making bad financial decisions some years ago when mortgage rates dropped. Many ended up buying homes they couldn't afford when the interest rates increased (love the ARM mortgages).

moparman1 said:
they want to build that kind of plant here but the uaw wont go for it. takes alot less workers to run the plant and put workers out of a job.
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Isn't this another BIG problem with the autos? As much as it would suck, it would better to put some workers out of a job rather than all or worse, as almost happened. If we want jobs to stay in the US and be able to buy American made cars, seems like these things need to take place. Not saying unions are bad, but concessions needed to be made. Hopefully these last negotiations have a positive impact on the balance sheet of the autos.
 
The sad thing is its all funny money,they just keep pumping more and more out,what happens in the long run when the dollar starts losing its value?,house of cards.
 
AdamR said:
Oh boy, Communist America, here we come !

http://news.yahoo.com/s/ap/meltdown_autos

700 billion in bail out money total. Is'nt there something else we could do with the money other then bail out companies that made bad finance discussions ? Take that 700 billion and giver every tax payer a mill. Let them pay there bills and blow the rest. That would get the economy moving much faster.
Click to expand...

It's a great plan other than the math doesn't add up, if you divide 700 billion by 150 million (I'm guessing half the population are tax payers for this exercise) you get about $5000 a head :munky2:
 
Rob said:
It's a great plan other than the math doesn't add up, if you divide 700 billion by 150 million (I'm guessing half the population are tax payers for this exercise) you get about $5000 a head :munky2:
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I believe that would be about 4.6 mil per head
 
Now if we could only get the money grubbin' greed mongers (the BANKS that GOT their handout already) to actually LOAN US THE MONEY, we MIGHT just buy some CARS!!!!!!!!!!

(oh, and there's that thing about cutbacks and loss of jobs......which by the way wouldn't be SO SEVERE if the dang MONEY GRUBBIN' BANKS WOULD LOAN THE MONEY THEY GOT FROM THE FEDS!!!!!!!!!!!!!)

INSTEAD, THEY BOUGHT MORE BANKS in order to SEAL THEIR POWER BASE and REDUCE COMPETITION!!!!!!!!!!!!!

(sorry.........I'll take a breath..............) :stop:
 
I believe that GWB actually did the right thing. Now it's up to the American manufacturers to pony up or be swallowed up by the imports.
 
Wes said:
I believe that would be about 4.6 mil per head
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But you'd be wrong, $4600 per head, there's 1000 million in a billion so 700 billion could give 700,000 people 1 mil, saavy :-D

A million each for 150 mil folks would be 150,000,000,000,000 which is 150 trillion by my count :munky2:
 
AdamR said:
Oh boy, Communist America, here we come !

http://news.yahoo.com/s/ap/meltdown_autos

700 billion in bail out money total. Is'nt there something else we could do with the money other then bail out companies that made bad finance discussions ? Take that 700 billion and giver every tax payer a mill. Let them pay there bills and blow the rest. That would get the economy moving much faster.
Click to expand...

I KNOW IT SOUNDS GREAT TO GIVE IT TO THE AVERAGE TAX PAYER, BUT HERES THE PROBLEM WITH THAT. ARE YOU READY FOR 15.00 DOLLARS A GALLON FOR GAS, HOW ABOUT 20.00 FOR A LOAF OF BREAD. THAT MUSCLE CAR THAT YOU LOOKED AT FOR 30K, JUST WENT UP TO 150K! IT SOUNDS GREAT IN THEORY, BUT IT WON'T WORK. NOW IF YOU COULD GARANTEE EVERYTHING WOULD STAY THE SAME PRICE, SIGN ME UP!
 
Yup............hyper-inflation aside, I'd be in too.........

BUT, we're livin' in a real world........not a Monopoly game. It ain't money that makes the economies go round......it's the flow of it. No flow, no go.
 
pastortom1 said:
Yup............hyper-inflation aside, I'd be in too.........

BUT, we're livin' in a real world........not a Monopoly game. It ain't money that makes the economies go round......it's the flow of it. No flow, no go.
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That is EXACTLY right. Money must change hands for an economy to grow. People are mostly sitting on their wallets right now. Every income taxpayer knows that they are going to be slugged with the biggest tax increase in history when the "Bush tax cuts" run out in 2010. Obama ran on tax increases, most notably capital gains taxes, so guess what is coming down the pike? Who would want to invest in this business climate? Money will flow to the country with the least burdonsome taxes and regulation. Any wonder why the European Union members hate Ireland?
 
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