Posted on 08/05/2010 5:15:17 PM PDT by Nachum
They didnt take his bailout money, but the president claims credit all the same: The year before I took office, this industry lost hundreds of thousands of jobs. Sales plunged 40 percent 40 percent. When the financial crisis hit and this great recession hit, that collided with an industry that for a long time had put off some hard choices, had put off adapting to changing times. And we had to face a hard, unimaginable reality, which was two of the Big Three automakers GM and Chrysler were on the brink of liquidation.
(Excerpt) Read more at washingtonexaminer.com ...
/s
>That makes the kind of sense that isn’t.”
You left out “mongrel”.
We have a Ford tractor as well.
He is right. I wouldn’t buy a GM or Chrysler now if they cut their prices in half.
If GumMotors and Chysler had declared bankruptcy they would have reorganized and the suppliers would have been unaffected other than waiting for payments or writing off losses. We would now be lightyears ahead of where we are now.
Pray for America
John, I saw the title and thought your name would be on it. I was wrong. A testament to your talent.
You know that was common talk here in Michigan on the likes of the Frank Beckmann Show, who is a friend of Rush along with a lot of WJR.
Here is the point Tier 1,2 and 3 suppliers make up a big portion of the auto employment population. If they had work with Toyota and Honda and Ford OK. If they didn't, right before d\the Chapter 11's they were scrambling to do so.
Their was serious concern that the supplier base without GM/DCC as customers, would have failed. You should talk to those in the industry at the time and their concerns off the record....
Thanks for saving my carpet, 0bama!
U.S. auto makers lost hundreds of thousands of jobs and should have due to over capacity.
BTW, as I recall, GM used to employ 650,000 in its prime and now employs about 10% of that number.
“For the first time in my adult life” I am ashamed for my country because of the POTUS!...worse than Carter!!!!
No Way... If I were Ford and you took of my two major (domestic) competitors out of the mix it would fatten me enough to OWN the Domestic Market and allow me to buy at least one of my Foreign (Import) competitors and set my ass up for the day the Socialist hangs himself (figuratively or with a loud crowd of partying beer swigging cane wielding Patriots assisting).
TT
Given that Ford will have to negotiate with the UAW, which holds a very large stake in their competitors, I think that things are going to get VERY interesting...
Mark
Sorry to offend the weak at heart here but Obama is the biggest fucking tool to ever sit in the White House.
Well DUH!
Sure, that makes sense.
Bail out Ace Hardware and Lowes to save Home Depot.
Bail out Target and Kmart to save Wal-Mart.
Bail out Wendys and Burger King to save McDonalds.
Riiiiiiiiiiiiiiiiiiight........
Of course, Obama is wrong. But the two would have survived just as well without taxpayer money if they had been cleaned up and downsized by the bankruptcy court.
“Obama: I saved Ford by bailing out its competitors” = Bwahahahahahahahahahahaha..............
Not does nobama sound like a complete moron...he is a complete moron.
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