Big 3 seek $50B bailout - It's the American way

[Vipergrün]

Build an inferior product, become a slave to blue collar unions, and get rewarded.

The Big 3 have been ignorant for years by building gas guzzling, ugly wanna-be throwbacks to the 60's and 70's. They try to do the right thing by building a Flex fuel SUV. Gimme a break!


http://money.cnn.com/2008/09/04/news/economy/automakers_Congress/index.htm?postversion=2008090414

[red-beard]

They build flex fuel SUVs, but that isn't the problem....

They need to build cars weighing 2000 lbs...

[Porsche-O-Phile]

Didn't you get the memo regarding Bear Stearns? It's no longer called a "bailout", it's called a "federal action to ensure economic viability".

Just don't ask where the money comes from, k?

[Jim Richards]

Not a penny for these losers. They had all the same opportunities that their competition had to position themselves in the marketplace, yet they stubbornly chose to focus on trucks, SUVs and ignored more fuel efficient models. Bummer.

[Vipergrün]

Originally Posted by red-beard

They build flex fuel SUVs, but that isn't the problem....

They need to build cars weighing 2000 lbs...

Fixed, added a 'gimme a break'

[speedracing944]

What happened to all the big profits from building old type SUVs? Let it be a lesson in short sightedness management. I could say more about the Unions but I will shut up. Unfortunately I live 15 miles from the town which built GM's SUVs. I bet there will be skyrocketing crime and poverty while a huge decrease in property values.

Speedy

[the]

I told them 2 years ago, on this very forum, that they needed to start planning for the end of the SUV craze. Anyone with even a little bit of knowledge of the industry could see that coming. I guess no GM or Ford execs read this site? Too bad, could have saved them billions! (It really is amazing how stupid and irresponsible they were).

SUVs made no sense and were just a fad. The US makers began to believe their own BS marketing, I guess. That, and being addicted to the outrageous profit margins derived by taking cheap pickup truck chassis and mechanicals, basically welding on a shell, adding a fancy plastic grille and some leather in the interior, and charging $15K more than it's worth. You are only going to get idiots paying $40-$60K for a GM pickup truck for so long.

[Gogar]

This just in: American auto sales in Canada DOWN 17% from last year . . . . . .

Toyota Prius sales in Canada: Up 141% from last year.

Figure it out.

[jackobleep32]

http://www.sonyclassics.com/whokilledtheelectriccar/

[David]

I drive a truck since it's a Texas mandate.

I just traded in my '01 Chevy Silverado for an '08 Chevy Silverado.

The '01 stickered for $30K loaded and the '08 stickered for $40K loaded (of course I didn't pay sticker)

So in 7 years the price went up 33%, the weight went up 25% and the mileage is... the same at about 13 mpg (the '08 is actually a little worse.)

Considering my wife's BMW cost about $40K also you'd think the quality would be in the same ballpark as the truck. Nope, it's a work truck with a little bit of leather and a Bose stereo.

I'd say the big three are screwed.

[rouxroux]

Chrysler & Iacocca should have never been bailed out years ago. Maybe THAT would have sent out the message.

(Personally, I wish Tucker had received some financial help)

[Porsche-O-Phile]

Can we put a petition together to bailout Porsche instead? At least their cars are interesting, if not profitable...

[lendaddy]

SUV's are not the reason they are failing. Unless you are claiming the resources spent on developing them were better spent on small cars?

SUV's still make them money, less than before but they are profitable.

Toyota and Nissan make big ass SUV's too guys. This is much deeper than that.

They need to build cars with the goal of each being "best in class" rather than building to a price point.(among other things).

[onewhippedpuppy]

Originally Posted by Porsche-O-Phile

Can we put a petition together to bailout Porsche instead? At least their cars are interesting, if not profitable...

Over time they've been the most profitable independent automaker on the planet. I doubt they're hurting either. They own a little company called Volkswagen to hedge their bets against the down times.

The Big 3 made their bed, now they should lie in it. Govt subsidies will only allow them to continue making inferior cars. Thanks to a total lack of management planning and the union noose around their necks, this has been coming for years. Maybe some of the workers could move to the south and work for Nissan, Honda, and Toyota. I hear they're doing well.

[onewhippedpuppy]

Originally Posted by lendaddy

SUV's are not the reason they are failing. Unless you are claiming the resources spent on developing them were better spent on small cars?

SUV's still make them money, less than before but they are profitable.

Toyota and Nissan make big ass SUV's too guys. This is much deeper than that.

They need to build cars with the goal of each being "best in class" rather than building to a price point.(among other things).

Actually, Nissan killed off the Titan, and seriously cut the line rate on the Armada. Toyota has taken a bath on the brand new Sequoia and Tundra, but they can absorb the hit. Plus, both companies are making so much on small cars and hybrids that it really doesn't matter. If I recall the chart from another thread, Nissan sales are up something like 14%, and I think Toyota had small gains as well.

Otherwise I agree, their cars are inferior for the American market. It's really sad, because GM is finally starting to compete. Chrysler has been a sinking ship since Mercedes wised up and dumped them. Ford doesn't seem to care, as they sell their best products overseas. The euro Focus (totally different than ours) and Mondeo are best in class cars. Even GM is smart enough to start bringing euro market cars to the states, and suprise suprise, they're getting good reviews.

[JeremyD]

Let em die -

[MichiganMat]

A lot of people are going to get hurt in this, communities too. Capitalism can be a cruel mistress.

[Moses]

I think it was Thom who said that Republicans tend to privatize profit and socialize failure. A bailout is the WRONG thing to do.

[teenerted1]

i hear the oil companies are making record profits....maybe the the guvornment can point them that way for some cash. would be a good way to make BO happy about those profits and have someone else foot the bill that we will get strapped with.

since the tax-payers will be footing the bill on this bailout what is the benifit for me?

[onZedge]

Originally Posted by teenerted1

i hear the oil companies are making record profits....maybe the the guvornment can point them that way for some cash...

Suddenly, the answer becomes clear...