And so it begins-GM CEO resigns

[NHCharger]

http://www.politico.com/news/stories/0309/20625.html

Knew this was going to happen. Of course he should have been gone years ago.
Problem is, with the government now "running" the company will it be any better.
Case in point. Stopped by a buddies house yesterday, 25 year Air Force vet, Vietnam vet. ALWAYS bought an American car, swore he'd never buy a jap vehicle. He opens his garage door, brand new Toyota SUV sitting there. I say WTF, his reply. I spent 25 years working for uncle sam, I can't even begin to imagine how bad their going to screw up the car companies.

[1969chargerrtse]

http://www.politico.com/news/stories/0309/20625.html

Knew this was going to happen. Of course he should have been gone years ago.
Problem is, with the government now "running" the company will it be any better.
Case in point. Stopped by a buddies house yesterday, 25 year Air Force vet, Vietnam vet. ALWAYS bought an American car, swore he'd never buy a jap vehicle. He opens his garage door, brand new Toyota SUV sitting there. I say WTF, his reply. I spent 25 years working for uncle sam, I can't even begin to imagine how bad their going to screw up the car companies.

Sorry me too.  Always had a GM, this time I was buying for the wife.  I wanted a great car, a safe car, bought a Honda Pilot and love it.

[Khyron]

Sorry, I still own American, we'll see what happens.

[TruckDriver]

With they way money is being tossed into everything now, America will be sold to Japan or China just to pay off the debt

[Rolling_Thunder]

With they way money is being tossed into everything now, America will be sold to Japan or China just to pay off the debt

we're already half way there buddy 

[Mike DC]

Yes, it's true.  China owns us.  That's what happens when a country goes 10 trillion into debt.




I fail to see GM being "run by the govt" as any huge change or worsening.  The govt will slaughter every brand's cars as we know it with CAFE rules whether they're owned by the govt or not.

[Nacho-RT74]

actually you don't know how much an "AMERICAN" car is really an American product, sooo...

I just can allmost assure the only brand still with theirs own identity is Mercedes and allmost all German brands... allmost similar with Renault in France.

I have some doubts about Fiat/Ferrari too, because part of those is GM.

Lamborghini, Maseratti maybe another brands with its own products.

Of course I'm talking just about non Asian cars, because Toyota is the only brand with every bot made by themself.

I don't know really too much about that, just an opinion from a regular "client"

[histoy]

MSN reports that Obama is rejecting the plans from both companies.   He's giving Chrysler 30 days to close the deal with Fiat, and he's giving GM 60 days to come up with a better plan.   No more money for either company at this time.

[Ghoste]

Smoke and mirrors.  Wagoner, Nardelli, Liddy; whats the difference?  None, they exist in a world where they move from company to company (yes, Wagoner was with GM for 30 years but I stand by the statement in general) never caring about the products the companies actually make.  They are able to generate vast fortunes through the stock market with bonuses paid based on stock options and so forth.  This drives their focus to only and always be on stock values and never on what they actually produce.  Further to this, they honestly feel their have a right to this money and lifestyle.  If GM goes under, the impact on regular American families will be devastating but Wagoner will only read about it in the den at his mansion while he decides which offer to take from other companies who want his "leadership".

[aone415]

Smoke and mirrors.  Wagoner, Nardelli, Liddy; whats the difference?  None, they exist in a world where they move from company to company (yes, Wagoner was with GM for 30 years but I stand by the statement in general) never caring about the products the companies actually make.  They are able to generate vast fortunes through the stock market with bonuses paid based on stock options and so forth.  This drives their focus to only and always be on stock values and never on what they actually produce.  Further to this, they honestly feel their have a right to this money and lifestyle.  If GM goes under, the impact on regular American families will be devastating but Wagoner will only read about it in the den at his mansion while he decides which offer to take from other companies who want his "leadership".

Very true Ghoste... I've worked in Corp America for 15 years and one thing I know is that the "leadership" really doesn't care about the worker bees in their OWN company.  Greed is embedded into their DNA to the point where people believe it is their RIGHT to amass huge fortunes at the detriment of others and the very companies they 'run'

Very sad times

[RECHRGD]

Smoke and mirrors.  Wagoner, Nardelli, Liddy; whats the difference?  None, they exist in a world where they move from company to company (yes, Wagoner was with GM for 30 years but I stand by the statement in general) never caring about the products the companies actually make.  They are able to generate vast fortunes through the stock market with bonuses paid based on stock options and so forth.  This drives their focus to only and always be on stock values and never on what they actually produce.  Further to this, they honestly feel their have a right to this money and lifestyle.  If GM goes under, the impact on regular American families will be devastating but Wagoner will only read about it in the den at his mansion while he decides which offer to take from other companies who want his "leadership".

Very true Ghoste... I've worked in Corp America for 15 years and one thing I know is that the "leadership" really doesn't care about the worker bees in their OWN company.  Greed is embedded into their DNA to the point where people believe it is their RIGHT to amass huge fortunes at the detriment of others and the very companies they 'run'

Very sad times

Greed is a time honored human condition and no one is immune from it.  Opportunity sets the level of greed whether your a factory worker or a CEO.  In different times it seemed to be kept in check better due to stronger moral values than we have today.  Wealth is now celebrated to the point that it doesn't seem to make much difference how it is acquired.  I think that we've reached a point of moral decay that indicates a turn around, but it may be too late.  The greed in higher places has basically sold this country out from underneath us.  We all better start learning to speak Chinese.  And yes, it's very scary to think our government can now dictate what goes on within a (formerly), privately held company, regardless of the need.   Bob

[moparjohn]

if the bailout/economy/car companies don't kill the American car, the new 37 MPG CAFE will!!!!

[TruckDriver]

I just saw on the news at noon, that Chrysler & Fiat have agreed to merge. It's a done deal.

[moparjohn]

just what we need

[Ghoste]

Merge?  I've heard that before.  So how much is Fiat paying Chryslers current owners for the privilege of "merging" with them and how soon before they break it up?

[4cruzin]

We'll see how it turns out!   

[NHCharger]

Obama rejecting both plans, what a joke. Congress has given billions to AIG and all their other favorite banks. Did they ask for any plans from them?

I was listening to NPR today (I was bored). They were talking about the auto industry and one guest said that she felt that Chrysler would fail and and disappear. She then went on to say that even if Ford and GM failed we would still have an American auto industry because all the Japanese cars now have plants in America My jaw hit the steering wheel on that brilliant remark.

Check out this clip. John Rich from Big & Rich has a solo CD out. Apparently most of his CD is filled with songs like this. He hits the nail on the fuckin' head.

http://www.youtube.com/watch?v=Gyz-DbYuRp4&feature=related

[BigBlackDodge]

Did they ask for any plans from them?

No, but they should have!


BBD

[nh_mopar_fan]

You must be a masochist to listen to NPR.

Let's hope the Chrysler/Fiat thing produces good results.

I'm not thrilled with the fact that they can push out a chairman of a private company but at the same time, I haven't seen the details of the plans that were rejected and it is our money so it's not out of the question that they have a say in how it's spent.

Hell, we did close a couple major banks and forced the sale of a couple and that was under the last guy. They did push the head of AIG out. Liddy is new to the job.

It's a scary road we're going down and the kids are driving the bus again.

[RD]

never should have been a bailout.  let capitalism re-balance itself.  that is its innate property. the problem is when the rich try to lasso and ride that re-balance in a manner that is going to allow them with the least amount of financial indebtedness.  hence, you see our government (which is directly influenced by the rich) doing things to make the rich happy, all the while screwing the american populace.

this government (not just Obama's), of which i spent 10 years of my life defending, is applying bandaids to problems instead of fixing them.  its sickening and disgraceful. no honor lies in the method they are using to establish a regeneration of american fundamentalism and financial independence.  i want to see companies, starting with the banks, be held accountable for their wrong doings. 

we should not throw money at a problem.  think of it this way:

i am a father who is trying to get my daughter to love me.  she is troubled and is making poor decisions.  instead of identifying the real issue and attempting to fix it, i instead use my money to buy her love, to make her feel comfortable, to make her not be so upset about her poor decisions and continue her lifestyle.  She see's this money as good and asks for more when the first installment runs out.  i find myself continuing to pay for her lavish lifestyle and all the while she is just using me until my funds dry up.  does she love me anymore to hold herself accountable for her actions, or does she just continue sucking up my funds until she can move on.

children who have parents who throw money at them to buy their love dont gain their respect.  the children end up spoiled and greedy.

see the moral to this story? human's dont change, no matter the environment or where they sit in a corporate building.

[Red Ram]

So would you leave your daughter alienated and homeless or be a good parent and set some rules but not let her fall in ruin?

I don't know if the government is doing the right thing...the industry certainly doesn't know...it may be too late, but the government must try there's a domino effect to worry about.

I hope the American Auto Industry can be saved. I think American cars are as least as good as any competitor. I could never understand why the industry doesn't promote their vehicles. All advertising seems to focus on rebates and such, which leaves consumers to the automotive media that seems to be no fan of the American auto.

[myk]

So would you leave your daughter alienated and homeless...

Damn straight, it's called tough love.  Spare the rod, spoil the child, and all of that other stuff.  This is the game of life; the sky's the limit for success but there's absolutely no room for failure.  If someone doesn't cut it, wether it's a bankrupt car company or a wayward daughter who's now working the pole, those failing people need to get their acts together and help themselves.  The idea of the government stepping in and bailing ANYONE out is contrary to what this country was founded on, which is individual liberty and freedom; the freedom to succeed OR fail. 

Now.  Where is my bailout check to help with the restoration of my Charger?  Oh wait, I need to grab a set of tools or scrounge up the money to have it done?  Right, after all, nothing is or ever should be for FREE.  Doesn't anyone know how to work for anything more?  Or do we continue to whine and cry because we now live in an "entitlement" society where everyone in it firmly believes that the world owes them something for just being alive?  Or getting saved because life dealt them a hard one and they failed?  Life is hard-rock and roll with it or GTFO of the way...

[Red Ram]

It's that way of thinking that got us into this mess in the first place... and not just the economy if you know what I mean. It's not about entitlement, it's about cleaning up a mess that's been left to the hyenas for a long time. The result of the failing car companies would be far reaching...might even effect you.

[Mike DC]

 
I have to disagree with the idea that the bank system shouldn't be bailed out.  Of course we should never have had to pay for any of this, but the only way to avoid this problem was to never let it reach this point. 



I have family working Bank of America now and working in that industry for decades.  I hear about this stuff every week or two from that viewpoint.  The top brass at BOA don't even WANT to do what they're doing now, taking money from the govt and taking over other instutions.  Even aside from the nationalization threats, they're still stuck with huge far-reaching project that they'd rather avoid.  But they absolutely have to do this and they know it.


It strikes me sorta like a military secret - most of the public will never understand the true extent of the financial danger that we've really been in during the last several months.  These bailouts aren't just some big term-paper that congress has been putting off all semseter and now they're doing a shitty job writing it the night before it's due.  This is much worse than that.  This is more like a frantic gun-against-the-head effort to keep the USA as a functioning nation.  Bush/Obama/govt can't even let the public see them acting half as scared & hurried as they really are.  If the danger was widely understood it would destroy the confidence that they're struggling so hard to sustain.

[chargerboy69]

So would you leave your daughter alienated and homeless...

Damn straight, it's called tough love.  Spare the rod, spoil the child, and all of that other stuff.  This is the game of life; the sky's the limit for success but there's absolutely no room for failure.  If someone doesn't cut it, wether it's a bankrupt car company or a wayward daughter who's now working the pole, those failing people need to get their acts together and help themselves.  The idea of the government stepping in and bailing ANYONE out is contrary to what this country was founded on, which is individual liberty and freedom; the freedom to succeed OR fail. 

Now.  Where is my bailout check to help with the restoration of my Charger?  Oh wait, I need to grab a set of tools or scrounge up the money to have it done?  Right, after all, nothing is or ever should be for FREE.  Doesn't anyone know how to work for anything more?  Or do we continue to whine and cry because we now live in an "entitlement" society where everyone in it firmly believes that the world owes them something for just being alive?  Or getting saved because life dealt them a hard one and they failed?  Life is hard-rock and roll with it or GTFO of the way...

God bless you. I would make a statement myself but I can not improve on yours.