Re: How Much Longer For General Motors + Ford?

Postby nostromo on Tue 2/Jun/09 10:12pm

Well they almost made 6 months. But not quite.

"The US Government has already provided GM with $19.4 billion in funding. Yesterday it pledged a further $30.1 billion to pay for the company’s restructuring. GM has assets of $82.3 billion and debts of $172.8 billion." :crazy:
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Re: How Much Longer For General Motors + Ford?

Postby happybaboon on Tue 2/Jun/09 10:17pm

Goddamn. I think they'd have been better off just forcing GM into bankruptcy and sharing the 30 billion amongst all GM employees who both a) earned less than $70K/year and b) don't have "business" degrees.
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Re: How Much Longer For General Motors + Ford?

Postby happybaboon on Tue 2/Jun/09 10:26pm

happybaboon wrote:Goddamn. I think they'd have been better off just forcing GM into bankruptcy and sharing the 30 billion amongst all GM employees who both a) earned less than $70K/year and b) don't have "business" degrees.

OK, so they've apparently got 250K employees...

So 30 billion/250K = $120,000 each.
If you remove the jerkoffs who created the problem in the first place (see above) then it'd be more likely to be 30B/230K=$130K each.

Give it to them in interest-bearing bank accounts that they aren't allowed to touch for 10 years and aren't allowed to take more than 10% of the original principle from per year after that. But to free up some short term cash and get banks lending money again let them use the money as collateral to borrow against to the tune of say $20,000. So all of a sudden hundreds of thousands of people would have an investment AND cash in the hand AND the banks would have some money to lend again which would create jobs for a lot of the people who lost jobs at GM............... Did I just fix the economy? Any downsides to my plan (or, alternatively, tell me why it would be any stupider than dumping $30 billion into a company that has debt of about four times that)?
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Re: How Much Longer For General Motors + Ford?

Postby Spyder on Tue 2/Jun/09 10:36pm

Quite funny that the world's largest free-market economy has just nationalised one of it's largest private companies. Not that you will hear "nationalised" being used, kind of has quite strong left-wing connotations :)
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Re: How Much Longer For General Motors + Ford?

Postby Wobbler on Wed 3/Jun/09 7:33am

happybaboon wrote:
happybaboon wrote:Goddamn. I think they'd have been better off just forcing GM into bankruptcy and sharing the 30 billion amongst all GM employees who both a) earned less than $70K/year and b) don't have "business" degrees.

OK, so they've apparently got 250K employees...

So 30 billion/250K = $120,000 each.
If you remove the jerkoffs who created the problem in the first place (see above) then it'd be more likely to be 30B/230K=$130K each.

Give it to them in interest-bearing bank accounts that they aren't allowed to touch for 10 years and aren't allowed to take more than 10% of the original principle from per year after that. But to free up some short term cash and get banks lending money again let them use the money as collateral to borrow against to the tune of say $20,000. So all of a sudden hundreds of thousands of people would have an investment AND cash in the hand AND the banks would have some money to lend again which would create jobs for a lot of the people who lost jobs at GM............... Did I just fix the economy? Any downsides to my plan (or, alternatively, tell me why it would be any stupider than dumping $30 billion into a company that has debt of about four times that)?


Yes because the only jerkoffs at GM are the managers :lol:
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Re: How Much Longer For General Motors + Ford?

Postby RHR_Rob on Wed 3/Jun/09 9:26am

I will be keeping my eye on the local auction houses, hoping to pick a new SS up for $1000 ;)
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Re: How Much Longer For General Motors + Ford?

Postby Tama on Wed 3/Jun/09 9:34am

Spyder wrote:Quite funny that the world's largest free-market economy has just nationalised one of it's largest private companies. Not that you will hear "nationalised" being used, kind of has quite strong left-wing connotations :)

The U.S. have technically nationalised quite a few really large companies recently...

... not to mention owing a lot of money and selling even more companies to communists (China) ...

... and Muslims (Saudi Arabia etc.) ...

... I love the smell of irony in the morning :p
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Re: How Much Longer For General Motors + Ford?

Postby Oli on Wed 3/Jun/09 9:55am

E Dogg Capizzle wrote:P.j. O'rourke:

http://online.wsj.com/article/SB1000142 ... 15892.html


Haha! Brilliant writing! :D
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Re: How Much Longer For General Motors + Ford?

Postby phunk on Wed 3/Jun/09 10:01am

Socialism killed the car companies and is now somehow going to save them?
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Re: How Much Longer For General Motors + Ford?

Postby Joel on Wed 3/Jun/09 10:30am

i think cars and trucks should be banned, and the only motorised transport permitted is scooters.
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Re: How Much Longer For General Motors + Ford?

Postby RHR_Rob on Wed 3/Jun/09 10:57am

But then we will have to ride to events!
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Re: How Much Longer For General Motors + Ford?

Postby dented on Wed 3/Jun/09 8:58pm

Just caught on ad on TV2 before, for Holden. The all new Cadillac something, is now available for the 1st and only time ever in New Zealand. NOW IS YOUR CHANCE TO OWN THIS CLASSIC PIECE OF AMERICAN MOTORING BRILLIANCE!!!1. 88 only to be sold new in NZ.
For the bargain basement price of $63990 + On road costs.

I guess that means GM america, has dumped this load of old stock that nobody would buy, and Holden NZ saw themselves a great deal. Hope they are RHD.
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Re: How Much Longer For General Motors + Ford?

Postby nostromo on Tue 2/Nov/10 11:37pm

Pontiac gone
http://www.nytimes.com/2010/10/30/busin ... ef=general
Hummer was canned this year (Oldsmobile went in 2004 when the rot started). Ford will axe Mercury end of this year. Rationalisation my arse, it's death by a thousand plastic knives I tell ya.
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Re: How Much Longer For General Motors + Ford?

Postby j2hyde on Wed 3/Nov/10 11:07am

No surprise. They haven't built a decent car in 20 years. Or is it 30 years?
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