12-05-2008, 09:53 AM | #1 |
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Auto Bailout
I was watching Senator Chris Dodd speak during the hearings yesterday.
He was discussing market cap of auto makes in general. He called BMW a niche player with 15B market cap because they sell a lot less vehicles than GM although BMW is worth more than all the big three combined. I found it funny because BMW is not losing $2500 on every car sold. When VW has more market cap than any make, perhaps the big three should be called something else?
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12-05-2008, 10:18 AM | #3 | |
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12-05-2008, 11:42 AM | #4 |
just another bmw douche bag
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its a combination of the UAW's ridiculous contract for it's workers, and poor management. Only in America, can you make poor decisions that lead to your own failure, and then whine and complain about how its not fair that you ran your company to the ground, and the government should bail you out.
Sorry guys, but capitalism doesn't work that way. They need to let the Big three go out of business, so they get out of the UAW contracts and get rid of the piss poor management they currently have. Then they can re-open their doors with new labor contracts and business structure. Throwing money at sinking ship isn't going to fix anything. Oh yeah, actually making cars that people want to buy would help too. |
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12-05-2008, 11:48 AM | #5 | |
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12-05-2008, 12:29 PM | #6 | |
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http://money.cnn.com/news/specials/s...ers/index.html
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12-05-2008, 12:44 PM | #7 |
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I would never buy anything from the "Big Three", so I certainly don't think that my tax money should go to own a chunk of them.
If no bank in the nation will loan them money, then why should I? |
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12-05-2008, 02:00 PM | #8 |
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They need to get rid of the union. I can sum it ip this way
Big 3 + union workers = Poor quality product Foreign automakers + non-union workers = Better quality product
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12-05-2008, 03:08 PM | #9 |
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As much as it was needed, I don't support the bailing out of the fin. svcs. institutions out there -- same goes for the auto companies. What I don't understand is why the govt. is playing favorites (letting BSC & LEH fall, banning shorts, propping up MER/AIG/any fin. instit. that asks). It can be argued that many of the large financial institutions also didn't deserve our tax monies b/c their management, too, made bad bets that led to their failure. Yet, the govt. is apparently more willing to help them w/o any sort of justification or requirement that management change its course. Yes, the implications of an AIG failure would be massive, but the principle is the same -- why prop up companies whose management has led it into a disastrous situation?
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12-05-2008, 03:49 PM | #10 | |
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