Mixed feelings about the current Auto Industry situation

[Texas Transplant]

I know that I am not the know all, be all of the American Auto Industry, but I have very mixed feelings today about the recent actions.



First, as someone who has been laid off, it's about time that some of the Exec's take their turn on the chopping block. They have been at the helm while quite a bit of the problems have been going on.



However, I am much more distrubed that anyone in Congress (or the Exec. Administration) thinks they have a better answer. Quite a bit of arrogance, floating around DC these days.



That, and the whole aspect of the goverment taking control of American Companies in the name of 'protecting the Economy', is a joke. Can't wait to see what next item, they tell all of us they have a better handle on, than everyone else. Many of us said last fall, that giving GM and/or Chrysler money, was simply an exercise in putting something off that many of us viewed as enivatible.



Tex

 

[Bruce Freeman]

I guess this is part of the change we were all promised. Stock up, lock and load it is only going to get worse. With the anti-christ in charge we don't stand a chance.



BF

 

[Bill McElroy]

Be affraid,............be VERY affraid!!:angry::angry:

 

[Tim Koepp]

I do not feel it is the role or right of gummint to "take out" a CEO or corporate exec, but exclusively the role of the Board voting on behalf of the stockholders. That said, its hard to fathom that the GM CEO survived while stock plummetted 96% in value and the owners of the company didnt take steps.

 

[Mini]

The strange part is for those that do follow the industry (or live it) is that Wagoner was one of the best to ever be in that position at GM. He brought world wide profits, allowed people to innovate and let people be the experts at what they did. I know in the recent months (years) it doesnt look like it due to the economic trouble EVERY industry is feeling, but he really was one of the best.



Pretty bad he had to be the scapegoat, but as a true GM man would, he stepped down for the the better of the company (in order to garner loans).



The thing to be afraid of is the fact that now precedence has been set for the Govt to hire and fire based on loans.



I guess US Auto SHOULD have gotten a bailout liek the financials, then they could have gotten bonuses AND kept their jobs. If any heads should be rolling, they should be rolling down Wall Street. But thats just my .02.

 

[TOMMY RICH]

I think we're all in for a rude awakening!

Our guvment is screwed...always has been but, now totally out of control.

 

[Gilbert Scales2]

Tee, I hate to say this but..... I believe you are right. I am not sure if we will survive this one. Spend,Spend, to fix the problems we have from over spending.:wacko: Put more laws on guns to fix the drug problems in Mexico.

I have a couple of suggestions.... If we don't have the money, don't spend it.

If we want to stop drug problems, enforce the laws we already have..... also enforce the laws on crimanals with guns, they too are already on the books. Otherwise, stay the heck out of my life. I don't want their help. Seems like everytime they fix something it gets worst.



Bubby

 

[Randy Walls]

My dad used to say,



"If your in a hole, quit diggin. Cause your only going to go deeper and never will dig yourself out of that hole!"



He used to also say, in much better times than these I might add,



"If it ain't broke just wait, government will get their hands on it and really break it!"



Randy!

 

[TOMMY RICH]

and TAX TAX TAX!

Our childrens childrens children will be paying for this CRAP!



First order of buisness for NUMBNUTS (yeah I said it) should have been putting people back to work! NO Chinese products....PERIOD!

Banks needs money because of crooks...SORRY!

Car industry....get back to the drawing board fellas! (Nothin' on you Mac)



I just don't understand America's direction anymore.....

 

[Texas Transplant]

The other part of this turn around that bothers me, is that quite a bit of the Stimulus Money is given to the State Goverments to use. Great.



Give money to another goverment agency to mis-manage.



Tex

 

[Bill McElroy]

I gaurantee you I will see MANY MANY more co-workers let go between now and July shutdown.

People who actually WORK and provide "deliverables" to plants and suppliers will be fired because the sales can't support the headcount,....while the ranks of management will swell....in order to "manage government mandated requirements". Bankruptcy will probably be unavoidable in the near future due to poor sales because the stupid public will not buy vehicles from a company in chapter 11 even though the government has gauranteed their warranties will be honored. SO, what will the public do?? They'll run right out and buy a foreign badged car/truck with their government issued stimulus money and tax breaks and the trend will continue until the entire industry collapses and the suppliers all follow in a domino affect. Before you know it, the country is in a depression like nobody's EVER seen before and Obama will get voted out after one term for ruining the economy with his socialist agenda and private sector micro-management. Forclosures will skyrocket, business will close by the hundreds DAILY and crime will go thru the roof. But hey,...people wanted "change",....I just hope they're happy when it comes knockin' at their door!



Frankly,..I don't expect to retire from this place...infact, I can't believe I've made it this far,...but if I still have a job here after the July shutdown, I will be amazed!!

I'm just glad our leaders in government have all the answers and know how to run things,..because when the President of a group losing TRILLIONS a year can fire a CEO of a company losing BILLIONS a year on grounds of "poor performance",..it's time to listen to THEM!!:angry::wacko:



We're screwed.....

 

[TOMMY RICH]

Agree Mac...I'll be lucky to survive myself.

Micromanagement is alive and well in the government section for sure!

 

[Bob G.]

Fully agree with ya Mac!! My co-workers grumble when I tell them that I'd buy a new GM truck today if I could afford it. They mimic the rest of the public opinions.....don't buy American, the warranty won't be any good. Screw em....I drive a Chevy truck and would buy another today if I could.



I'm also suprised that I'm still employed with the same company after 27 1/2 years. We've had 2 layoffs company wide....I'm hanging on by a thread. I just hope it's Power Pro and tied on with a good Palomar knot!

 

[Greg Meyer]

I had a bit of a longer drive testerday and had a conversation with my busines partner... We played, "what if?" What if you had to try to fix things. Now, I know for a fact that we don't know what the !@$%$ we are talking about, but it was frightening to compare our ideas with the ones coming out of Washington. Here are some that we came up with...



1) Bank bailout... (get money into the banks to lend out, that was the idea right?) a) Match deposits put into savings acoounts you put in $2 and the Gov't puts in $1 that you get to keep if you leave your money in for 3 or 4 or 5years... Max it out at $1000 subsidy per person...



2) Unemployment... Instead paying unemployment... ANybody still laid off after 3 months ... Get the employer to put that person back to work for 6 months at the old salary/pay and give the unemployment money to the employer... Increase production at a reduced cost... Keeps the worker on the tax rolls... etc.



3) Auto Industry bailout... Have the Feds replace every vehicle they have through local dealers... give the ones that they then don't need to charities, school districts, etc... Just do it on the basis of units sold last year... Puts money into every sector of the auto industry



Now none of these ideas are perfect or maybe even good... But, none create government ownership or control... They put money back into the economy in a way that makes the money "work"... We only had an hour to come up with our ideas...:wacko:

 

[Tim Koepp]

mini: Agreed that Wagoner is not the whole problem, but he took the job, and the situation got worse instead of better.



TEE: I dont think there is a Rude Awakening on the horizon, at least for most, we already realize it. just flippin dumbfounded as to what next.



MAC: Its unbelievable, but it seems as though its not PC to buy "Big Three" in certain Social and Economic circles (like the McMansion Suburbs around here).



Welcome all to USSA

 

[Brian Ingersoll]

My opinion is it starts with the banks and mortgages. Everyone got in over their heads with interest only loans or bought more house than they could afford. If they weren't worried about losing their homes, they would still be spending on other things. If the government wants to help, that's a starting point.

Use the government dollars to subsidize the bank mortgages. Lower everyones interest rates by 3 points. That will help the people who bought more than they should have by bringing their payment down, and people who acted responsibly will get rewarded the same amount. Allow people to go from interest only to fixed rate mortgages at little or no cost. Do this only for existing loans, not new ones, to keep investors from taking advantage. I would think that would free up some families to be able to spend more, but at the point we are at already it might just make people put toward their 'rainy day' savings, in which case we're already in to far. Of course you will always have the select few who can't have money burning a hole in their pocket, and that might be enough to get us headed back to the right track. The other option would be to radically increase tariffs on all imported goods, but the problem of higher prices from reduced competition might outweigh the short-term benefits.

 

[Jody Woodruff]

The thought of Barney Frank and those idiots in D.C running GM is laughable. They've done such a fabulous job running the Country so I am sure they'll be great!

 

[Bill McElroy]

That's what is so F'd up!!!....One organization that is so laughably inept,..losing TRILLIONS, is telling another company in the middle of a crisis, losing BILLIONS because of the policy's set forth by the Trillion dollar losers,..HOW to run themselves!! It's a joke,...and the really sad part is millions of american workers will be the punch line!

 

[Tim Koepp]

Yep Mac. its letting the Monkey run the banana farm