GM Inside News Forum - View Single Post - J.D. Power Warns of "Outright Collapse" of Auto Industry

BigThreeForever · 10-10-2008, 11:10 AM

2009 seems highly likely to be the Year of the Apocalypse for Detroit.

Given that GM is now all but worthless as a company, that Ford is mortgaged to the hilt and that Chrysler's financials are no longer disclosed, but are doubtless catastrophic . . . given their rate of cash-burn and the fact at their most profitable products are no longer being bought in the old volumes . . . given that oil prices are volatile, that consumer confidence is all but non-existent, that the banking system has gone belly-up and that credit is harder and harder to get . . . . we have a "Perfect Storm", gentlemen.

I now firmly believe that at least one, and probably two, of the Detroit Three will file for bankruptcy protection in 2009. I hope I'm wrong but cannot see otherwise.

I just hope some sort of solution can be found. This is a freaking NIGHTMARE.

10-10-2008, 11:10 AM	#5 (permalink)
BigThreeForever 3.0 Liter SIDI V6 Join Date: Sep 2005 Location: Middle TN Drives: 1996 Silverado, 1990 Grand Marquis, 1994 Caprice W Posts: 666	Re: J.D. Power Warns of "Outright Collapse" of Auto Industry 2009 seems highly likely to be the Year of the Apocalypse for Detroit. Given that GM is now all but worthless as a company, that Ford is mortgaged to the hilt and that Chrysler's financials are no longer disclosed, but are doubtless catastrophic . . . given their rate of cash-burn and the fact at their most profitable products are no longer being bought in the old volumes . . . given that oil prices are volatile, that consumer confidence is all but non-existent, that the banking system has gone belly-up and that credit is harder and harder to get . . . . we have a "Perfect Storm", gentlemen. I now firmly believe that at least one, and probably two, of the Detroit Three will file for bankruptcy protection in 2009. I hope I'm wrong but cannot see otherwise. I just hope some sort of solution can be found. This is a freaking NIGHTMARE.