Detroit 3 want more flexibility for federal loans

[sigma]

As much as it pains me to do this. Quoting Steve Miller "Just take the money and run."

[steinravnik]

Originally Posted by mgescuro

I'll second that.

I don't have a problem with the gov't loaning them money. Just as long as they really spend it on fuel efficient cars and not just piss it away on some executive bonus.

[Tico]

The goverment is about to spend 500 Billion to bail out wall street bankers and you guys whine about 25 or 50 billion for Detroit?! If the bankers would not have created this credit crisis in the first place people might still be buying and leasing cars from the big three. Maybe it is becuase so many people in goverment came from and will return to wall street!

[stormwatcher]

Originally Posted by texassierradude

If the Detroit Three have balls, then what do the Wall Street folks have?

Wall Street has ginormous balls made out of titanium.

[PRO_USA1776]

I for one are sick and tired of Americans beating up on GM Ford and Chrysler. Some of their headaches are of their own doing and others are because we as Americans insisted on putting regulations on them! I say loan them the money, federal and state governments are falling allover their ..... to provide foreign companies incentives (free land, tax abatements, free trade zones - i.e. tariff free zones) so why can't we help them and level the playing field!

[PRO_USA1776]

"Just as long as they really spend it on fuel efficient cars and not just piss it away on some executive bonus."

You mean like on a "fuel efficient" Nissan Xterra? I "says" it like I "sees em!" Excuse me while I go and be patriotic and pay some more taxes....barf!

[Grymm]

Oh yeah, spend my tax dollars on companies that didn't give a crap about making good cars. Instead they worry about their multi-million dollar paychecks and over-priced SUV's that suck gas like a vegas hooker going down on a high roller.

The Asians had it right. The big three were just plain greedy and now they want taxpayers to flip the bill.

No.

They deserve their fate.

Let them die.

We'll be better off in the long run.

[steinravnik]

Originally Posted by PRO_USA1776

"Just as long as they really spend it on fuel efficient cars and not just piss it away on some executive bonus."

You mean like on a "fuel efficient" Nissan Xterra? I "says" it like I "sees em!" Excuse me while I go and be patriotic and pay some more taxes....barf!

It really has nothing to do with what I choose to drive. People should be able to drive what they want. Right now, people are clamoring for fuel efficient vehicles. GM's competitors are meeting this need better than GM, hence GM's declining market share.

I happen to live in a major city where I don't drive at all. The few times I drive, it's to haul something, go mountain biking, go on a long trip, etc. An Xterra meets those needs in a way no compact car could. Since a tank of gas lasts me about a month, my environmental impact is less than a guy that drives a Prius 30 miles each way to work each day.

[steinravnik]

Originally Posted by Grymm

Oh yeah, spend my tax dollars on companies that didn't give a crap about making good cars. Instead they worry about their multi-million dollar paychecks and over-priced SUV's that suck gas like a vegas hooker going down on a high roller.

The Asians had it right. The big three were just plain greedy and now they want taxpayers to flip the bill.

No.

They deserve their fate.

Let them die.

We'll be better off in the long run.

Now the SEC is manipulating the stock market by eliminating short selling of financial companies and the gov't is bailing out all the "bad investments" of all financial institution. Privatize the profits, socialize the risk. Why be responsible when the gov't will just bail you out in the end?

[PRO_USA1776]

It really has nothing to do with what I choose to drive. People should be able to drive what they want. Right now, people are clamoring for fuel efficient vehicles.

Really? that sounds so western of you, unfortunately the rest of the car buying world, i.e. asia does not agree with your sentiments.

Why is it that so many "Americans" come out as foreign manufacturer cheerleaders. As an immigrant of over 25 yrs to America I have never been able to figure that one out! By the way, when are those 70% of foreign corporations going to be patriotic and start paying their fair share of taxes and stop requesting tax breaks, free land, and tariff free zones to assemble cars in North America?

[steinravnik]

Originally Posted by PRO_USA1776

Really? that sounds so western of you, unfortunately the rest of the car buying world, i.e. asia does not agree with your sentiments.

As an immigrant of over 25 yrs to America...

Welcome to America.

[PRO_USA1776]

Welcome to America.

Fortunately I wasn't required to leave my brain at the door. As I stated previously I lived in Japan 3+ yrs, I know what we are up against and the threat is real not just preceived. Our US based companies are up against more than their counterparts in asia. They have to fight the Ministry of International Trade and Industry (MITI), laws , xenophobic laws and culture, etc...and of course the ignorance of some americans!

[steinravnik]

Originally Posted by PRO_USA1776

Our US based companies are up against more than their counterparts in asia. They have to fight the Ministry of International Trade and Industry (MITI), laws , xenophobic laws and culture, etc...and of course the ignorance of some americans!

I realize that. That is why our companies have to work harder. But in the end, we produce a superior product and American consumers have access to the best the world has to offer. That's also why, after our companies do everything they can to compete, I don't have a problem with a little government assistance. Apple makes a class-leading iPod despite Japanese companies like Sony, et al getting government assistance. The iPod sells in Asia despite that. There's a black market in Russia for the iPhone. Lots of American companies compete just fine. Why is GM so different?

[jry]

i would run from the deal if the feds want an ownership position in these companies like they're getting in AIG.

[steinravnik]

Originally Posted by jry

i would run from the deal if the feds want an ownership position in these companies like they're getting in AIG.

Ha ha. Besides the fact that the Feds running an auto company would be outright communist, I wonder who would run the company worse? I suspect that the Feds might actually do a better job than some of GM's past management