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Here is something the big 3 don't want you to see.
Hulu - NBC Nightly News with Brian Williams: Foreign Auto Industry Empowering New South (http://www.hulu.com/watch/45632/nbc-nightly-news-with-brian-williams-foreign-auto-industry-empowering-new-south - broken link)
Here is something the big 3 don't want you to see.
Hulu - NBC Nightly News with Brian Williams: Foreign Auto Industry Empowering New South (http://www.hulu.com/watch/45632/nbc-nightly-news-with-brian-williams-foreign-auto-industry-empowering-new-south - broken link)
But who woudda thunk it would be through manufacturing?
To be sure, so-called legacy costs are what are weighing on the Big 3, even as they continue to invest in emerging markets.
The real bailout that they are seeking is to dump their legacy costs onto the government, it will take a few more years.
After that, the US government - and Europe - will seek to share pension and health care costs with the rest of the world.
Soon, today's Chinese, Brazilian et al workers will be funding the pensions and health care costs of retired US and European workers, with all that implies for the standard of living (and, really, do they deserve any more?).
Just watch what the G-20 does over the next months and years.
The real bailout that they are seeking is to dump their legacy costs onto the government, it will take a few more years.
Gov has 2 choices all the while b*tching about everything and putting on big dog and pony shows.
1) LOAN US auto what they seek and let them get through it themselves which plans are in place to do so.
OR
2) Don't loan them money and let US auto go BK and eat ALL the legacy cost they leave behind that they already guarantee.
Which option is cheaper... Option 1 of course and the US Gov is a business just like any other and will do what makes them the most money. One way or the other, the Gov is now, today, responsible for those legacy costs due to the financial crisis the world is in. It is what it is, the Gov is between a rock and a hard place.
What is so hilarious, all the people who bad mouth US auto and think the Gov tax dollars will be thrown down a rat hole by a "bailout", and want them all to go BK are too stupid to realize if US auto does files for BK, ALL the legacy cost, unemployment and emergency benefits will be left for the Gov to pick up with the very same tax dollars and then some that they are so worried about... Morons ! That bill will end up being WAY more than any loan being requested and those funds WILL without a doubt be thrown down a huge rat hole never to be seen again by the tax payer. Such the intelligent society we all are collectively...
Hey..at least GM gave up 4 of the 7 private jets they lease. Now they are down to 3 private jets.
These guys ARE tightening their belts !
I think the whole private jet thing is non sense. Not really a big expense for such a company. The main thing here is they let the unions take control of the place, they didn't give consumers what they wanted, and they put all their eggs in one basket.
Hey..at least GM gave up 4 of the 7 private jets they lease. Now they are down to 3 private jets.
These guys ARE tightening their belts !
Yes and it took nationwide exposure and the bad perception that goes with that for them to dump their sky jockey toys. They didn't do it on their own, really. I personally think the hearings were a dog and pony show---just a little face value hard ball to make the tax payers think that Govt is being more selective about how they spend the bailout money. They're not. The big 3 are going to get it and nothing will change. I don't think even with their "new plan" they must submit in Dec, that anything will change. More lip service. Tell them what they want to hear and then turn around and do what you want to do. This has been the mode of operation in the past. Why should we believe it will be any different? I'm just sayin'
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I'm just sayin'
