Let's take it in the shorts part 2
DouglasDanger
PennsylvaniaRegistered User regular
PennsylvaniaRegistered User regular
h u g e wiki on the auto crisisThe automotive industry crisis of 2008 is a financial crisis facing primarily the United States automobile manufacturing industry as of December 2008. Other automobile manufacturers, particularly those in Europe are also suffering from the crisis. The Big Three U.S. manufacturers (General Motors, Ford and Chrysler) have indicated that unless additional funding can be obtained over the short to medium term, there is a real danger of one or more companies declaring bankruptcy. As of June 30, 2008, General Motors net worth was negative $59.939 billion.[1]
On December 19, George W. Bush announced that he had approved the bailout plan, which would give loans of $17.4 billion to U.S. automakers GM and Chrysler, stating that under present economic conditions, "allowing the U.S. auto industry to collapse is not a responsible course of action."[2] Bush provided $13.4 billion now, with another $4 billion available in February 2009. Funds would be made available from the Emergency Economic Stabilization Act of 2008.[3] General Motors will get $9.4 billion and Chrysler $4 billion.[4] The federal loan would prevent General Motors from going into immediate bankruptcy. The bailout requires both companies to dramatically restructure their operations to demonstrate long-term viability.[3] In February 2009, the Obama administration will be determining the automakers' progress in meeting the conditions of the loans, and then decide whether to supply more government aid or to force automakers to repay the loans and face bankruptcy.[4] The loans would carry an interest rate of 5 percent but may rise to 10 percent if the auto manufacturers default on them
I can't believe there's no bitching about this on the forums. If there is, I certainly can't find it.
GM and Chrysler seem to have ignored market trends for years and we get to prop their stupid asses up. Seems like they might fail anyway.
I'm having a hard time finding info about this on TV or the internet even, aside from the stuff in the wiki.
DouglasDanger on
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Tossrock: Somolia, you know Mogadishu, Blackhawk down?
Qorzm: I'm sorry, I don't follow hip-hop
it can be
Tossrock: Somolia, you know Mogadishu, Blackhawk down?
Qorzm: I'm sorry, I don't follow hip-hop
Tumblr blargh
Use the Rod of Power!
Tossrock: Somolia, you know Mogadishu, Blackhawk down?
Qorzm: I'm sorry, I don't follow hip-hop
1.) Stock up on food
2.) Stock up on shotgun shells
3.) Barricade myself in the basement
4.) Don't come out for nothing
I ain't gonna get trampled in no food riot god damn it.
Steam / Bus Blog / Goozex Referral
there are probably some jokes to be made here about shoddy construction
GM's issues have nothing to do with "ingoring market trends" if by that you mean "not selling enough cars." Their problem is no matter how many they sell they still cannot turn a profit.
What do you have a Vagina or something.
No I take that back, my older sister likes stick too.
What are you a moron.
That is a terrible business model butters
Tossrock: Somolia, you know Mogadishu, Blackhawk down?
Qorzm: I'm sorry, I don't follow hip-hop
Or women drivers.
Steam / Bus Blog / Goozex Referral
thank the japanese
Why is this?
I do my best
hockey up big after quarterly reports
shoe still stuck in america helps build rally
Put that money directly into small engine design, learn how to fucking make some decent small cars, and then bank bank bank
in short, terrible business model and "ignoring market trend"
long answer, jews
ahahahhahahaha
Also a build quality they can only get away with in their own country
It doesn't matter whether or not you own a car.
Sorta matters if you pay taxes.
Or live in the United States.
Steam / Bus Blog / Goozex Referral
stop talking now
And it's not like any of them are manufactured in 'murica anyways.
many of them are yes
for the same reason japanese cars are actually made in the states
My parents would never own an Australian car, because they simply aren't made as well or as reliably as japanese cars.
Australian cars sell very very well in Australia, but no other countires want them, because really they are quite sub-par.