Should the government bailout the American car companies?

[Tsar]

Originally Posted by BonzoHansen

Perhaps?!?!?!? Giant F-U. The respective BoDs need their heads examined if the CEOs still have jobs next week.

I thought it was funny when only one of them agreed to get 1 dollar pay, the other two didn't want any of that

[BonzoHansen]

Originally Posted by Tsar

I thought it was funny when only one of them agreed to get 1 dollar pay, the other two didn't want any of that

Which one?

[Tsar]

Originally Posted by BonzoHansen

Which one?

I believe that Chrysler CEO said he was prepared to take that step.

[BigAls87Z28]

Nardelli. But he's got plenty of cash after he raped Home Depot.

Mullaly is the highest paid CEO there, but a large margin.
Wagoneer cut his pay 50% for a few years and the Board reinstated his full sallary this past October.
He said he would do it again.

[BigAls87Z28]

Originally Posted by Tsar

I highlighted the failing business part. No matter how you wanna spin this, investing money into a business that's failing or about to fail is a bad idea. Are you gonna argue that investing in a failing business if a good idea?

How many shares of GM stock do you own, Al?

Off topic, aren't you on vaca before your new job? shouldn't you be trying to sex your gf instead of hanging out here.

GM isnt failing because they cant sell cars. People cant get credit to buy cars. NO ONE is buying cars. I dont know if you look around, but even the Big Japanese 3 are hurting in America. There is a field of imported vehicles sitting on the docks in Long Beach.

I currently own 200 shares, and have taken a large loss, as have family members.

I took my vacation time as part of my 2 weeks, I still have about 30ish hrs left. As for "sexing" my gf, in grown up world, adults have jobs. She is one of thoes people that tend to work between the hours of 9 to 5.

Shouldnt you be getting hammerd and falling into curbs?

[Tsar]

I think all of them have PLENTY of cash, AL. Not just Nardelli.

[BigAls87Z28]

Sure they do. Mullaly got a nice going away present on top of being the highest paid CEO there. Rick has been part of GM for a while, no doubt and Nardelli is also getting a good chunk of change.

IMO, Chrysler should have let Jim Press, former Pesident of Toyota North America and the former highest ranking outsider inside Toyota who is now part of Chrysler.

[Tsar]

Originally Posted by BigAls87Z28

GM isnt failing because they cant sell cars. People cant get credit to buy cars. NO ONE is buying cars. I dont know if you look around, but even the Big Japanese 3 are hurting in America. There is a field of imported vehicles sitting on the docks in Long Beach.

I currently own 200 shares, and have taken a large loss, as have family members.

I took my vacation time as part of my 2 weeks, I still have about 30ish hrs left. As for "sexing" my gf, in grown up world, adults have jobs. She is one of thoes people that tend to work between the hours of 9 to 5.

Shouldnt you be getting hammerd and falling into curbs?

They are failing, period. I do not care why. Failing business = bad investment of MY money.

200 shares, that's like 600 dollars in today's price, right? WOW aren't you the big spender in something you believe in! You do not want to sacrifice your money but MY money is ok, cool beans!

There's time before and after 9 and 5 too! And btw not everyone works from 9 to 5.

I do not get hammered anymore, so big fail on your part. Not as large as GM fail though.

[SteveR]

Originally Posted by BigAls87Z28

GM isnt failing because they cant sell cars. People cant get credit to buy cars. NO ONE is buying cars. I dont know if you look around, but even the Big Japanese 3 are hurting in America. There is a field of imported vehicles sitting on the docks in Long Beach.

That's definitely true. When we were looking at cars last month we stopped at a big GM dealership on Rt. 46 and based on their size and inventory, I'm guessing they used to do about 100-130 cars a month. When we were there at the end of last month, the entire dealership had only sold 8 cars. EIGHT! The salesperson told us that because of the economy and the banks, all leases were canceled through GMAC, and if you wanted to finance, you better have perfect credit and 1/3 down. So the banks are also to blame in all of this. People can't buy cars if they can't get loans.

[BigAls87Z28]

Originally Posted by Tsar

They are failing, period. I do not care why. Failing business = bad investment of MY money.

200 shares, that's like 600 dollars in today's price, right? WOW aren't you the big spender in something you believe in! You do not want to sacrifice your money but MY money is ok, cool beans!

Yeah, you are right. Right now. I bought 100 shares around 15 bucks, and another 100 shares or so around 12.
No, its not a lot, and yeah thats a big loss.

There's time before and after 9 and 5 too! And btw not everyone works from 9 to 5.

I do not get hammered anymore, so big fail on your part. Not as large as GM fail though.

Yes there is, but after I feel great, I come back here and get to see your drivel and I get upset.

[Tsar]

Originally Posted by BigAls87Z28

Yeah, you are right. Right now. I bought 100 shares around 15 bucks, and another 100 shares or so around 12.
No, its not a lot, and yeah thats a big loss.



Yes there is, but after I feel great, I come back here and get to see your drivel and I get upset.

Well thanks for keeping my company on my school days

[BigAls87Z28]

Welcome

Here is some other info..

CNBC has been tracking the number more closely than others. Their total ( allocated and or spent) for the USA IS 4.23 trillion dollars - as of 14 0r 17 NOV 2008.

Lets see.... one trillion equals 1,000 billion....... so 4,230,000,000,000 for 'The Financial Sector' and in terms of spent for Automotive.....ZIP.

'Promised'....... 50 biilion, reneged on 25 billion and 25 billion stuck in limbo at the DOE..... yep, close enough for Government work - especially this one.

So 4,230,000,000,000 vs 25,000,000,000 is a ratio of 4,230:25

Or 169.2:1

Oh and that 169.2 is a 'gimme' and the "1" is an interest bearing loan.

[BonzoHansen]

GM, Ford Executives Say No To $1 Salary In Exchange For Government Aid
11/19 3:06 am (ON)
Story 0837 (F, GM)

By Josh Mitchell and Siobhan Hughes

Of DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- The chief executives of General Motors Corp. (GM) and Ford Motor Co. (F) said Wednesday they wouldn't accept a $1 salary in exchange for government aid to their imperiled companies, as the head of the former Chrysler Corp. did a generation ago.

During a hearing Wednesday, a member of the House Financial Services Committee told Rick Wagoner of GM and Alan Mulally of Ford that reducing their annual salaries to $1 would be an important symbolic gesture as they lobby for $25 billion in loans funded by tax dollars. Chrysler's Lee Iacocca worked for that wage when his company was bailed out by the government in the 1980s.

"I'm willing to do what I've been doing," Wagoner said, saying he has already accepted a significant wage decrease and given up other forms of compensation. But he stopped short of saying he would accept a $1 salary.

Mulally said: "I understand your point about the symbol. But I think, not just for me, but we're trying to fill a skilled and motivated team."

Pressed on whether he would work for $1 a year, Mulally said, "I think I'm OK where I am."


The chief executive of Chrysler LLC, Robert Nardelli, had said Tuesday he would be willing to work under that salary as a condition for a federal bailout package.

-By Josh Mitchell, Dow Jones Newswires;

[BigAls87Z28]

Throw that article with the taking of thier private jets article into the fire would you?

Them taking a salary of a dollar would be worthless and is more symbolisim then anything else.

[Tsar]

So they want my money, but do not want to sacrifice their own money?

[BigAls87Z28]

Yes, thats it. They want to continue to fly in thier private jets, and they want to bath in tax payers money while their companies fall around them.

[SteveR]

Originally Posted by BigAls87Z28

Welcome

Here is some other info..

CNBC has been tracking the number more closely than others. Their total ( allocated and or spent) for the USA IS 4.23 trillion dollars - as of 14 0r 17 NOV 2008.

Lets see.... one trillion equals 1,000 billion....... so 4,230,000,000,000 for 'The Financial Sector' and in terms of spent for Automotive.....ZIP.

'Promised'....... 50 biilion, reneged on 25 billion and 25 billion stuck in limbo at the DOE..... yep, close enough for Government work - especially this one.

So 4,230,000,000,000 vs 25,000,000,000 is a ratio of 4,230:25

Or 169.2:1

Oh and that 169.2 is a 'gimme' and the "1" is an interest bearing loan.

you really have to wonder what 4.23 trillion dollars is being spent on. I mean, you could terraform and populate a distant planet with a new race of humans with that kind of money. And still have enough left over to bailout Detroit

[Tsar]

Originally Posted by BigAls87Z28

Yes, thats it. They want to continue to fly in thier private jets, and they want to bath in tax payers money while their companies fall around them.

I do not care about them having jets, they work for a corporation, they are suppose to have jets. Probably not flying them from work to home, but whatever. But I do NOT want to give MY money to them. I tell you what, how about you start a list of people of who WANT to bail out GM, and then you guys can put together as much money as you guys want, and give it to GM. Win win situation for everyone!

EDIT* If you find 100 million people to support you, you only have to donate 250 bucks each. I'm sure GM would open an account for "donations", if you ask them nicely. Now go have a bawl! You, almost single handed, can be responsible for the saving of the Big 3, you can be famous, man!!!

[LTb1ow]

Mad max time!

[BonzoHansen]

Originally Posted by BigAls87Z28

Throw that article with the taking of thier private jets article into the fire would you?

Them taking a salary of a dollar would be worthless and is more symbolisim then anything else.

Of course it would be. Now it's a ****ing PR nightmare. They blew that big time. That was such a stupuid move it's incalculable - and indefensible.

[LS1Hawk]

I think if they took the $1 salaries it would have gone over very well with the general public and would have swung the pendulum in the Big 3's favor. Too late now.

[DevilDougWS6]

Originally Posted by Tsar

Wow you should be a detective!

and you obviously werent understanding what al was trying to say. so i simplified it for you.

so stfu and stop being an arrogant/sarcastic prick.

[Tsar]

Originally Posted by DevilDougWS6

and you obviously werent understanding what al was trying to say. so i simplified it for you.

so stfu and stop being an arrogant/sarcastic prick.

What makes you think I didn't understand it? Just because I do not agree with something doesn't mean I do not understand it. Good luck with that detective career.

[Tsar]

Don't know how credible Canadian newspapers are but anyways.

China’s Ministry of Industry and Information Technology– the state regulator of China’s auto industry– who dropped the hint that “the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers

http://www.agoracosmopolitan.com/hom.../19/02867.html

[DevilDougWS6]

Originally Posted by Tsar

What makes you think I didn't understand it? Just because I do not agree with something doesn't mean I do not understand it. Good luck with that detective career.

because you kept posting how it was no big deal and everyone that would become unemployed could just go find another job because "your family did it".