The real fun starts around the 3:45 mark. Now, let’s remember that this is a Ford. So the question now…why don’t they sell this one in the states?
Beyond the general arguments against a bailout of the Big Three there are specific arguments against giving any taxpayer dollars to Chrylser: Why is the U.S. taxpayer on the hook for Chrysler? Unlike GM or Ford, Chrysler’s rich owner, a private equity fund with multi-billions in private capital available, has $7b to invest in its [...]
Remember folks, these are loans and we could actually make money on the deal…the same way we did last time when we helped a car company out and mandated they increase their CAFE standards. From NY Times: WASHINGTON — Faced with staggering new unemployment figures, Democratic Congressional leaders said on Friday that they were ready [...]
First the media slams them for riding on private jets, and now they find a way to slam them for driving to Washington in hybrid cars. From MSNBC: One thing to think about is the amount of time that they wasted by driving. By turning what would be a 90-minute commercial flight into a 10-hour [...]
The United Auto Workers apparently believes the U.S. auto industry really is in serious trouble. Today, the UAW announced, it is willing to make serious concessions to help automakers secure government loans. The UAW says it is willing to renegotiate labor terms, accept delayed payments of billions of dollars into the health-care trust and suspend [...]
Looks like Ford Motor Co. is now willing to make some concessions should they receive a government bailout. CEO Alan Mulally said he’ll work for $1 per year if the automaker has to take any government loan money. The plans Ford submitted to Congress on Tuesday also say the company will cancel all management employees’ [...]
That’s the word today, and if we could actually do a Chapter 11 that wouldn’t halt production and cause a domino effect down the line, well, this could be an option that I might be able to get on board with. First, the deal… In a prepackaged bankruptcy, an automaker would go into court with [...]
First off, jobless claims are at a 16 year high. That’s the backdrop to consider when you’re looking at these numbers. So let’s imagine if the Big 3 go down the tubes, which they’re likely to do at this point. Yes, I know people are saying they can simply go into Chapter 11 and reorganize, [...]
O.k., I’m obviously being provocative, but I felt it needed to be said: if trickle-down economics is as bad as Democrats have told us it is, then why do so many Democrats support giving $25 billion to the automakers? Make no mistake, trickle-down is how the bailout is supposed to work. We give the top [...]
Last night, Michael Moore was on Larry King discussing the crisis facing American automakers. I thought it would be interesting to see what the man behind Roger & Me had to say about an industry that’s far worse off now than it was when the film was made 20 years ago. Moore: I’m of mixed [...]
The following video shows you something you may not have seen before…pages upon pages of tax foreclosure listings published in the Detroit Free Press. To be specific…137 pages of tax foreclosure listings. Basically, these are people who are delinquent on paying their taxes and could have their homes foreclosed on in 2009 if they don’t [...]
Today I had a chance to listen in on the blogger conference call with the policy group that represents the auto industry, The Auto Alliance. Thanks to Jon Henke for inviting me. I was 5 minutes late, so I missed the opening spiel, but I got a chance to listen to the Q&A session that [...]
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