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+--- Thread: Should Uncle Sap get in the car business? (/showthread.php?tid=65414)
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Should Uncle Sap get in the car business? - Go To Top - 11-02-2008
http://www.autoextremist.com/current/
To liquidate Chrysler?
Re: Should Uncle Sap get in the car business? - mikeylikesit - 11-02-2008
There has to be an end to this. Is the demise of Chrysler that end or the beginning of some greater collapse? If we bail out the auto industry then all this political crap about socialism had better end.
Re: Should Uncle Sap get in the car business? - simonm - 11-02-2008
Extremist is an apt title here. The guy really rattles the drum in there. Curiously, you just have to switch the word "Japanese" for American in many of his statements and you could move this story to a hundred under countries all over the world where American multi-nationals are getting subsidies and where the locals grumble exactly the same way. ;-)
Actually, the title to the post made me think that SAP was proposing to buy into the car-industry. Given that they bought a brewery some time back it wouldn't be a total shock. (In fact it was the brewery's real estate they wanted and not the brewing operation afaik).
Re: Should Uncle Sap get in the car business? - Black Landlord - 11-02-2008
article wrote:
And it has also finally become obvious to even the most jaded anti-Detroit zealots in Washington and around the country that a collapse of the domestic automobile industry would be a cataclysmic event with devastating and far-reaching consequences that would threaten to shake this country's economic future to its core.
This is like waiting for surgery-- I wish we could just get it over with already.
Re: Should Uncle Sap get in the car business? - mikeylikesit - 11-02-2008
Following up on simons comment:
About 20 years ago the government took over a controlling interest in the most successful card casino in Los Angeles. They gained that because some investors had put in tainted money to start the thing. The casino and it's operating management (who owned the other third) were never suspected of doing anything but running a fabulously successful card club.
Five years later -- with the federal government still a full partner -- it filed for bankruptcy protection. George Hardie the original owner and mover is now somewhere in the South Pacific or NZ promoting a new venture.
Re: Should Uncle Sap get in the car business? - Filliam H. Muffman - 11-02-2008
I think Chrysler deserves to fail except it would devastate millions of retirees and suppliers.
Re: Should Uncle Sap get in the car business? - mikeylikesit - 11-02-2008
Mecedes owned Chrysler and once they realized their potential exposure they maneuvered a straw buyer in place to protect themselves. If Chrysler ends up in bankruptcy, the bankruptcy judge will have authority to look into Mercedes culpability for pensions and more.
Re: Should Uncle Sap get in the car business? - samintx - 11-02-2008
I don't like the term "Uncle Sap" if you are referring to Uncle Sam. I'm really tired of all the denigrating titles and adjectives for people - in or out of my political favor. It isn't civil.....and Uncle SAM is us.
Now, in my reading the car companies want low interest loans. Well, I say the reason they are in this pickle is because they don't sell cars, unions are taking cost to the limit, and they are trying to play "catchup".
I say let Toyota and Honda be it. I don't know if the US auto industry would default on a government loan or if there is any collateral to guarantee the US (taxpayer) would get their money back if the was a loan.
It is touch bu Chrysler was bailed out once before and they are back again.
Re: Should Uncle Sap get in the car business? - Black Landlord - 11-02-2008
samintx wrote:
I don't like the term "Uncle Sap" if you are referring to Uncle Sam. I'm really tired of all the denigrating titles and adjectives for people - in or out of my political favor. It isn't civil.....and Uncle SAM is us.
Per the linked article:
I've said this before and I will say it again: This nation is at a crossroads. Our idyllic, textbook, free-market notions and our "Aw, shucks, we just want you to play nice with us like we play nice with you" Jimmy Stewart-like attitude that we continue to try to foist off on jaded nation-state competitors that just don't care are simply obsolete in this new global economy we live in. Other nations have taken advantage of Uncle Sam's quaint view of the world for years, to the point where they must privately refer to us as "Uncle Sap."
[quote Suzanne] Now, in my reading the car companies want low interest loans. Well, I say the reason they are in this pickle is because they don't sell cars, unions are taking cost to the limit, and they are trying to play "catchup".
I say let Toyota and Honda be it. I don't know if the US auto industry would default on a government loan or if there is any collateral to guarantee the US (taxpayer) would get their money back if the was a loan.
It is touch bu Chrysler was bailed out once before and they are back again.
Greedy unions are the reason the big 3 are faltering?
These folks failed to plan for the eventuality of high gas prices, increased interest in conservation and ecological responsibility, and decided they would see the best profits by promoting larger vehicles.
As a result they are mass-producing products that nobody wants.
If 3M decided to put all their chips on the resurgence of interest in VHS tapes, and ended up sitting on warehouses full of them, would you blame the union?
Re: Should Uncle Sap get in the car business? - mikeylikesit - 11-02-2008
She would.