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Warren Buffett who not long ago believed in investing domestically evidently has thrown in the towel on America's manufacturing future by investing in a Chinese electric vehicle company.
Is it any wonder that Buffett, who had been an Obama advisor, has Washington leaning toward moving GM toward bankruptcy?
Ten years from now will conversations among minimum wage workers at the Chinese distribution chains like Walmart and soon to be automobile dealers reflectively focus on "remember when our parents used to have good jobs, that paid well, and made cars, trucks, airplanes, etc?"
When will Americans wake up? Once the auto industry is shut down in the US it will be gone! This will be the model to dismantle the remaining manufacturing, engineering, and technology jobs leaving us with nothing but low-paying service jobs in Chinese distribution outlets.
I'm surprised he's held back as long as he has. Successful people back the winners. Not everybody feels America is on the right track, and many that don't are voting with their wallets. That's why dollars are flowing into foreign banks, foreign real estate, foreign companies and foreign innovation. Adapt or die. Times have changed and smart people are changing with them. Detroit is not.
It's not just the auto industry. America has life cycled into a precarious place.
The auto industry will never shut down in the US. Honda, Toyota, Nissan, and the rest will continue to make cars here and provide good jobs for Americans.
I think the argument is that American-based carmakers will shut down. The three you mentioned originate elsewhere.
But to the argument, I say so what? This is the same deal I have with the banks. If you're not willing to play ball to effect change, we don't need you. There are plenty of other young upstarts who I'm sure see the overall investment value (and promotional exposure) in being one of the first to come in with better, less expensive vehicles.
I think the argument is that American-based carmakers will shut down. The three you mentioned originate elsewhere.
But to the argument, I say so what? This is the same deal I have with the banks. If you're not willing to play ball to effect change, we don't need you. There are plenty of other young upstarts who I'm sure see the overall investment value (and promotional exposure) in being one of the first to come in with better, less expensive vehicles.
+1
The usual myth you hear is that the non-US owned car makers "send the profits out of the country". Nonsense, I own Toyota shares and the dividends are sent right back to me here in the USA.
GM is doing a fine job and has been for years sneding themselves inot bankrupsy and don't need any help.People are just looking at what GM really has only played with because they can't make enough profits uness they have a SUV wolrd with high prices. looking at the new Honda hydrid and the price they are headed to possible worse than bankrupsy but total failiure.
Warren Buffett who not long ago believed in investing domestically evidently has thrown in the towel on America's manufacturing future by investing in a Chinese electric vehicle company.
Is it any wonder that Buffett, who had been an Obama advisor, has Washington leaning toward moving GM toward bankruptcy?
Ten years from now will conversations among minimum wage workers at the Chinese distribution chains like Walmart and soon to be automobile dealers reflectively focus on "remember when our parents used to have good jobs, that paid well, and made cars, trucks, airplanes, etc?"
When will Americans wake up? Once the auto industry is shut down in the US it will be gone! This will be the model to dismantle the remaining manufacturing, engineering, and technology jobs leaving us with nothing but low-paying service jobs in Chinese distribution outlets.
....and if they don't shut gm down soon, what's left of our auto industry will die along with our country. gm is not profitable. for years it has relied on cheap and EASY credit to drive its sales. we all know where that got us. to be fair, the high was good while it lasted but it was never sustainable. what you fail; to realise is that by the state subsidising gm/ford and chrysler, they're killing other manufacturers by pricing them out of the market!
So why is it that the collective Idiotocracy of Detroit refuses to build electric cars?
What is that?
Is it just a case of stupid?
Or can't-make-me sort of pride?
Brain-damage from the fumes?
An industrial-sized and industrial-grade Death Wish?
Have we ever seen any industry this stupid?
Absolutely Mind-Bogglin to behold.
i used to think electrics were the way forward but now i'm a bit sceptical. i don't however think that gm's fate has been related to electric cars.
gm's biggest problem is their legacy costs. pensions and medical for ex employees (this was encouraged by govt btw).
secondly their staff are overpaid and over insured (if you compare them to the automakers with plants in the south and if you compare this to what any new owners of gm would pay).
third, they geared production to unsustainable demand. during the bubble economy everyone was buying new cars whether they could afford them or not. this means that we were building too many cars. to meet this false demand, automakers and everyone else for that matter leveraged up to cater to that demand. that false demand has gone(even though the govt is doing everythinmg it can to create further false demand) but the debts incurred to build the new plants are not!
The auto industry will never shut down in the US. Honda, Toyota, Nissan, and the rest will continue to make cars here and provide good jobs for Americans.
not if the govt continues to provide support for gm, ford etc. my brother in law looked into buying a new pacifica in december. i appreciate that it was surplus stock and a discontinued model iinm but they were going for $13999 brand spanking new!!!!!!!!! how would other automakers be able to compete if the big 3 continued to sell below cost by passing on the losses to the taxpayer?
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