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[Funky Papa]

Shit just hit the fan

Delphi alone makes the top 15 bankruptcies but the effects on GM may be disastrous. I hope none of you have shares on GM...

 

[Musashi Wins!]

People here in Detroit are just ecstatic over this news

 

[Tarazet]

Shit just hit the fan

Delphi alone makes the top 15 bankruptcies but the effects on GM may be disastrous. I hope none of you have shares on GM...

I would think that GM's penny-pinching would be a big part of Delphi's bankruptcy, is it not?

 

[Funky Papa]

People here in Detroit are just ecstatic over this news

No wonder. Delphi is enough to cause a lot of harm, but If GM goes down the potty the impact not only in the States but in the global economy will be horrible. But this had to be expected. Chain workers doing over 100.000, UAW getting all prissy about cuts, the management living the kings' life while doing jackshit... heck, I'd have to be mad to put my money on them.

I would think that GM's penny-pinching would be a big part of Delphi's bankruptcy, is it not?

Both deserve each other. Sadly GM's wrongs from yesterday are coming to bit them in the ass now that they are starting to catch up with quality products.

 

[Diablos]

It seems somehow appropriate that GM will end up with nearly $11B in pension liabilities as Delphi declares bankruptcy, seeing as how the 1999 spin-off in hindsight now looks to be doomed from its very beginnings. Forcing Delphi to take on nearly 50,000 UAW workers freed GM of those worker’s obligations on its balance sheet, making things look ever so slightly better (GM still ended up borrowing nearly $20B in 2003 to cover obligations relating to its remaining workforce). But if GM, with nearly $200B/year in annual sales couldn’t cover the obligations to those workers, why would it be possible for an enterprise 1/10th the size to do any better? The fact that there’s a 2007 deadline for GM’s exposure to any risk in a Delphi bankruptcy indicates that, six years ago, it was probably thought that things could coast along past that cut-off. So, now the next big question looms - what will this do to GM’s precarious financial situation? That will play itself out in the upcoming months, I suspect.

Ouch...

 

[Tenacious-V]

GM's not the only one having problems. Ford's been in big finaicial trouble for a while now too. It looks like if the domestic companies can't figure something out, there may be none come 2010.

 

[Funky Papa]

The Chinese must be fapping at this very moment. Cheap remains to build their new markets.

 

[Diablos]

Ford! Ha.

Fix Or Replace Daily.
Fucker Only Runs Downhill.

 

[xsarien]

Ford! Ha.

Fix Or Replace Daily.
Fucker Only Runs Downhill.

Found On Road Dead

etc. etc.

I only remember one for Pontiac, but posting it would probably get me banned.

 

[Diablos]

Found On Road Dead

etc. etc.

I only remember one for Pontiac, but posting it would probably get me banned.

:lol

You'll have to PM me it, then. I must know.

 

[gblues]

Google for "pontiac acronym" and it's on the 2nd page of results; look for a match titled "punitive damages for civil rights" and it's in the quoted text on the search results.

 

[daegan]

UAW getting all prissy about cuts,

Sorry, but it shouldn't even remotely be expected that line workers should take a cut from $25/hour to $10/hour especially when the executives aren't taking any cuts.

Oh, and they want to close a shit-ton of the plants.

 

[Tenacious-V]

Oh I know that Pontiac one!!! :lol :lol :lol

 

[Lord Error]

Last I've heard Chrysler hasn't been doing that great either. None of the big three seems to be doing good. I've heard they are getting increased sales this year, but that's mostly due to deals where anyone can buy a car with an employee discount. That kind of deal probably doesn't do anything for their bottom line.

 

[SyNapSe]

Last I've heard Chrysler hasn't been doing that great either. None of the big three seems to be doing good. I've heard they are getting increased sales this year, but that's mostly due to deals where anyone can buy a car with an employee discount. That kind of deal probably doesn't do anything for their bottom line.

Hmm, I thought the Chrysler "side" had been doing well recently.. I thought it was Benz that was faultering.

 

[Diablos]

Google for "pontiac acronym" and it's on the 2nd page of results; look for a match titled "punitive damages for civil rights" and it's in the quoted text on the search results.

Oh man :lol

 

[bishoptl]

That Pontiac one supposed to be funny? Consider yourself lucky I'm in a good mood tonight.

edit: actually, maybe I'm not in as good a mood as I originally thought.

 

[Matlock]

Haha, the Pontiac acronym rears its ugly head. That's as old as Detroit itself.

 

[Fuzzy]

So when is Toyota going to come in and buy out GM? It's been rumoured for a long time now.

 

[Raistlin]

People here in Detroit are just ecstatic over this news

Yeah ... people in Buffalo are real estatic too

 

[rastex]

The Chinese must be fapping at this very moment. Cheap remains to build their new markets.

Uh... why would China be happy about this? America is their biggest importer, if the American economy fails who is going to buy all those Chinese manufactured goods? In this global economy we all win or lose together.

 

[Synth_floyd]

GM is something like $300 billion in debt. I can't remember whom but someone bailed their stock out a few months ago. That and the sales boost driven by their receent discounts (which is killing profitabliliy) is all that is keeping GM alive at this point. Ford is on silmilarly shaky ground.

 

[Poody]

I'm worried now that toyota will have stake in FHI (fuji heavy industry), how will it affect Subaru in general. I know toyota has changed its buisness focus to more of an environmental stand point. Lets hope toyota is only interested in FHI's technology in batteries. Damn, this also means Saab and FHI are no more.

 

[Funky Papa]

Sorry, but it shouldn't even remotely be expected that line workers should take a cut from $25/hour to $10/hour especially when the executives aren't taking any cuts.

Actually the executives are getting better compensations at this moment as a way to avoid leavings or so they say (sickening). But yes, I am a big fan of Renanian capitalism, it's a damn shame that the suits aren't.

Uh... why would China be happy about this? America is their biggest importer, if the American economy fails who is going to buy all those Chinese manufactured goods? In this global economy we all win or lose together.

It'd be bad for China, but their totalitarian system is better suited to contain crisis than the US or any other democracy for that matter. And one could say that a poor economy would spark the interest on cheaper goods (made in China) instead of other imports.

Not that I am a pro or something.

 

[rastex]

It'd be bad for China, but their totalitarian system is better suited to contain crisis than the US or any other democracy for that matter. And one could say that a poor economy would spark the interest on cheaper goods (made in China) instead of other imports.

In what way is the totalitarian system better suited? And I don't really understand what you meant in your second sentence.

 

[Scoobert]

I'm worried now that toyota will have stake in FHI (fuji heavy industry), how will it affect Subaru in general. I know toyota has changed its buisness focus to more of an environmental stand point. Lets hope toyota is only interested in FHI's technology in batteries. Damn, this also means Saab and FHI are no more.

It's great news. GM no longer has stock of FHI, about time. Although the Saab 9-2x will continue, but all other joint projects will cease. And Subaru has already showed off a hybrid engine. Toyota and Subaru will be great thing.

 

[Funky Papa]

In what way is the totalitarian system better suited? And I don't really understand what you meant in your second sentence.

A crisis will not influence the government in the same way, plus the masses are not that important in the grand scheme neither play with their money on the stock market. I am not telling that the impact wouldn't affect China in a big way, but that the effects may not be as disastrous to them as for us.

Of course, GM will not hit the ground in such way, I think that they may start selling their underperforming units to the best bidder in a few years. I fear for Saab.

 

[Agent Icebeezy]

GM's not the only one having problems. Ford's been in big finaicial trouble for a while now too. It looks like if the domestic companies can't figure something out, there may be none come 2010.

Ford has 22 billion in cash reserve. I work for Ford. I would agree that we are in trouble though. I've gone back to school as a result of it.

 

[SteveMeister]

How about "I am chairman of Chrysler Corporation, America" for cool automotive acronyms

 

[Christoff Yurievich]

Shit just hit the fan

Delphi alone makes the top 15 bankruptcies but the effects on GM may be disastrous. I hope none of you have shares on GM...

years ago my mom started an IRA for me. I had stocks in a few companies, Delphi included.

 

[Agent Icebeezy]

How about "I am chairman of Chrysler Corporation, America" for cool automotive acronyms

Lee has made too much already saving companies. While I don't know the detailed problems of the other companies. I can tell you Ford's in detail

1. Newer designs. Our cars look old. Bill Ford sent something out that said no more dull cars. If that were to become fact. Crown Vic might just become a fleet car or police car

2. Too many chiefs, not enough indians. Management side is too fat. They are in a 5 year process of purging 10,500 salaried employees

3. The Big 3 having to pay pensions versus the Japanese that don't. I'm an hourly worker, but I understand that detriment to their business

4. Ford is revamping the way they allow medical release from work. They are becoming much more strict with it. People would file what you would call FMLA, and just take off whenever. This lead to the changes in how much Ford will pay for medicine. From what I can observe, their rule change has stopped a lot of abusing it

5. The old guard/Nepotism. First off, I must say, I'm a second generation worker here. I don't hold any decision making positions though. A lot of people who are brought into management this way, and they are also very under-prepared for the road ahead.

6. People need to retire. This goes for both hourly and salaried. I'll start with hourly first. I can understand where they are coming from, on a personal level. However, that is to an extent. I should never have to get a piece of someone's 45th anniversary cake. 45 years!?!?!?! That is way too fuckin long. People just hang around until they die. Ford has become the aggressor with buyouts though. Salaried, same way, but also, they haven't adapted their way of thinking to suit the current economic climate. What worked in the 80's won't work now.

7. Public perception. All big 3 companies quality has caught up with, or even exceeded their foreign counterparts, but most don't know that.

8. Fixing the fucked up mess Jac Nasser left. Buying Land Rover and Volvo hasn't panned out yet, but it's working. The Five Hundred is basically a Volvo car rebranded as a car. Other cars are going to start sharing the same parts for cheaper manufacturing soon.

 

[Musashi Wins!]

Your Ford points are very apt. They have moved too slow. And the writing has been on the wall for years. That said, the layoffs have just decimated some lives around here including some in my family, who weren't line workers.

The days of unskilled, unschooled upper middle class jobs in production is just about over.

 

[Agent Icebeezy]

Your Ford points are very apt. They have moved too slow. And the writing has been on the wall for years. That said, the layoffs have just decimated some lives around here including some in my family, who weren't line workers.

The days of unskilled, unschooled upper middle class jobs in production is just about over.

I came to Ford by way of my mom. I was 19 at the time, 25 now. You are correct, the writing has been on the wall now. My plant in particular, in Chicago, is still a big player in Ford's plans. I think they we have 1, maybe 2 more UAW agreements to go before shit gets hectic here. I'm going to be long gone before that though. Like I said, I've gone back to school because I know the gravy train is making it's last trip. Sadly, others don't see it as that. Especially the people I work with. I hear people here bitching about not having SS to fall back on when they get 30 years. 30 Years?!?! Bitch please, you won't be working here in half that time.