Posted on 11/20/2008 12:36:53 PM PST by SmithL
A number of Asian news sites report that the largest Chinese auto maker (SAIC) will walk into the situation by the end of December and likely pick up GM...maybe even Chrysler. I think both will be desperate enough to accept the deal....to survive for a couple of years as all parts production is based in China.
As for Ford...I’m expecting a surprise “savior” to come in by mid January and cough up enough cash to save the company (maybe even the Russians).
The true losers in this entire deal? The parts industry in the US will be taken down within just a year or two...and the unions. The problem with this entire mess....is that if the banks had not gotten themselves so screwed up....then the loose credit would still be there and the screwed-up union deal would just continue on. What the democratic leadership did in allowing the banks to fall apart...has simply triggered a domino effect...and it won’t end with the car companies.
Thankfully, congress is forcing these whiny, self-serving auto companies to detail exactly how a $25B bailout would be used to prevent them from being just an endless beggar for more. As long as unions are allowed to rule the roost no amount of money will bail out the Big Three. And the Big Three CEOs would be wise to fly commercial for their next meeting with congress.
They need to be able to take credit for it, in the eyes of the unions. But they need to be able to blame the Republicans, in the eyes of everyone else. What a conundrum.
So where was the “plan” when we forked over $750 BILLION to Henry Paulson to dole out as he sees fit?
Not that I think we should hand over money to the Big Three.
Dodd/Frank Motors... where union solidarity is job one.
Would the unions forcibly migrate into other American businesses in that timeframe?
Failed Speaker and Failed Majority Leader fail, yet again. Zero accomplishments. Year 3.
I hate to say this, but the day they bailout the Big Three(IOW the UAW)is the day I stop buying Big Three cars.
And 57% of Hussein's electorate think they're Republicans.
We're f***ed. BOHICA ...
“The instruments arent too much of a mystery.”
OK, maybe I exaggerated.
They are “toxic” and “exotic”
57%....!? come on.....
Me too, not that my husband or I have bought them the last few times anyway. But it will be set in stone then.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.