Sure hope congress votes for this. I feel it's essential for the economy. GM is manufacturing "new innovated vehicles" that are totally equal or surpassing most auto makers and need to get the product out. Many people are not seeing the changes in GM. They are not building vehicles from the '70s or '80s any more. Hopefully the economy will pick up enough to get people to spend and kick start things. The banking sector needs to start being realistic about credible loans to those that can afford them. For the pessimists on the board, I'm sure you will chirp in.

 

In before the lock!

 

I for one have mixed feelings on this. I don't want to see GM or any of the big 3 go down. But then again, they should have been working on these solutions at lot sooner. Too much focus was on trucks and SUV's. Foreign makers could turn a profit on small cars, but not Detroit? SO in a sence, filing chapter 7 or 11 might make for some good changes also. Makes them "start over" so to speak. Should (hopefully) make some of the current "contracts" be null and void (UAW). The current financial crisis is hurting everyone. People overspending what they could afford and banks too eager to lend them money. Now everyone suffers for it. Definatley time to trim the fat.

And it's not just Detroit, it's all automakers. I read recently that in Cali, some docks have over 30 acres of cars piled up. NO room at dealerships.


They will continue reguardless, but how is the question from me.

All I got to say on it.

 

LOL...

 

Wouldn't that be "ribbit"???

 

This was because everyone wanted one. Now that a gas price flush came, no one wanted one. Then the banks screwed up, not the auto companies, that has to be remember too. Those problems were never foreseen, just abruptly thrown at everyone. Kind of hard to adjust to a storm. I think finger pointing at what a company that was giving the public what they wanted at the time isn't reasonable. How was anyone going to see the oilopoly get so greedy and the banking system be so irresponsible. I'm not against your opinion, but there are factors that caused the storm in the first place.

 

 

The UAW union needs to stop being so greedy... what the big three needs is a reeamp of the current contracts... the union has way too much power for the big three to make any type of profit. I for one have never been a apart of a union... it just seems that they bully there way to get what they want... just my .02