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Thread: Auto Industry Bailout (Merged)

  1. #41
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    Wait for them to file chapter 11.

    GM and Chrysler were the ones that wanted immediate bailout money. Ford wanted a line of credit.

    Outta the 3, Ford seems to be in the best (least worse) shape.

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    Emergency talks breakdown on the bailout:
    Workers union won't give in and reduce wages.

    http://ca.news.finance.yahoo.com/s/1...-aid-deal.html

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    uh oh....

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    Now, they are in shithole.

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    The worst part is that even if they get rid of the union they'll still be on the hook for the legacy costs, which are a large portion of the difference in "salaries" between the Japanese automakers and the domestic (when comparing American-based plants).

    So basically all they can do is cut the benefits and probably cut the wages. The benefits could be negligible, but they already make the same basic wages as their Japanese owned counterparts, so basically shitty American cars are going to be produced by even shittier workers as many will be clamoring to go to the Japanese manufacturers in order to get back to their former pay rates.

  6. #46
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    Best and fastest way to get it over with. Bankruptcy was inevitable.
    Originally posted by 89coupe
    I do get great service there, especially when I mention my name, haha.

  7. #47
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    i wonder if any of you calgarians/albertans realize the fallout from the big 3 collapse has on the o&g industry....

    1. what parts of a car aren't made from petroleum products?
    plastic? interior parts? tires?

    ok, what about met coal? it's used to make/melt the steel of the car.... so coal demand drops to nil, oil demand drops even more... thus meaning less oil projects, thus just like what encana annouced today, its cut all of its capital projects, and well look what happened with teck cominico and atco structures laying off 400 people.

    This collapse is going to hit home hard. period.

    Yes its awesome that there will be no more shitty cars on the road... but it will hurt o&g in a big way...

  8. #48
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    Originally posted by in*10*se
    i wonder if any of you calgarians/albertans realize the fallout from the big 3 collapse has on the o&g industry....

    1. what parts of a car aren't made from petroleum products?
    plastic? interior parts? tires?

    ok, what about met coal? it's used to make/melt the steel of the car.... so coal demand drops to nil, oil demand drops even more... thus meaning less oil projects, thus just like what encana annouced today, its cut all of its capital projects, and well look what happened with teck cominico and atco structures laying off 400 people.

    This collapse is going to hit home hard. period.

    Yes its awesome that there will be no more shitty cars on the road... but it will hurt o&g in a big way...
    Umm... probably not so much in the way you say. And Alberta doesn't really export coal south IIRC.

    Demand for cars is still going to remain whether or not the big three are solvent. That demand will either be filled by other manufacturers, or by whatever is left of the Big Three when this is over.

    Reduced economic activity overall will erode demand for energy. That's about it.

  9. #49
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    Originally posted by badatusrnames

    Reduced economic activity overall will erode demand for energy. That's about it.
    there you go. i rest my case.

  10. #50
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    .
    Last edited by 01RedDX; 10-17-2020 at 05:41 PM.

  11. #51
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    wow, i gotta admit i was expecting the bailout to go through, not the full amount, but still
    Originally posted by Modelexis
    If I have questions about my phone bill, I don't post it on beyond, I call telus.
    Originally posted by D911
    worst part is definitely when the dudes smacking it with his dick like that inside out anus owes his dick some money.
    the crap you find when you dig through ask leo

  12. #52
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    How is this going to affect the price of imports with less competition from the domestic market?
    Originally posted by rage2
    #1: don't ever question me.

  13. #53
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    yikes. i would have thought some of the bailout would go to them...

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    In a way this is good as it shows how evil unions really are. But I can't imagine how bad this is going to be for all those who are going to lose their jobs...

  15. #55
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    http://finance.yahoo.com/banking-bud...0Vj8R5gC.7YWsA

    article on wages and such of automakers...
    J

  16. #56
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    The majority of GM's parts are sourced from AC Delco, so current owners should be OK in that regard. As far as Chrysler is considered they can eat shit and die. There are enough neons in the junkyard here to last me a long time as far as parts go, the rest of the company I don't care about.

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    Wow this shoudl be interesting.
    Looking for a new VW? How about a used vehicle? We are Central Albertas #1 source for pre-owned vehicles
    I will beat any deal on a new VW for beyonders

    Gary Moe Volkswagen/Gary Moe Used Car Superstore!

    Red Deer, AB

  18. #58
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    to whomever is all happy abouts this... you are a bunch of assholes.. there are millions of people that work in the big 3 and they will be out of jobs.. and for you to be happy about that it horrible.. i wish the union wasnt such a pos and turn the senete down like that but its also retarded how the government would not give a little bit of money to the companies to save millions of jobs... fuck the government!!! the fall of these companies is going to hit real hard... REAL HARD...

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    Originally posted by dj_rice
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  19. #59
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    Originally posted by 5000Audi
    to whomever is all happy abouts this... you are a bunch of assholes.. there are millions of people that work in the big 3 and they will be out of jobs.. and for you to be happy about that it horrible.. i wish the union wasnt such a pos and turn the senete down like that but its also retarded how the government would not give a little bit of money to the companies to save millions of jobs... fuck the government!!! the fall of these companies is going to hit real hard... REAL HARD...
    The union fucked this up this time, not the government. Hell, GM and Chrysler got themselves into this mess, not the government. Bush sucks, but even he didn't do this.

  20. #60
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    I have a family member that will probably end up being homeless if the bailout doesn't go through. I'm still 100% behind not giving the auto industry a single penny. We just can't support failing business plans.

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