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  #1  
Old 12-25-2008, 04:51 PM
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Default This will help with auto sales.

http://www.detnews.com/apps/pbcs.dll...812250372/1148

Should help Chrysler and GM sell some cars/trucks
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Old 12-25-2008, 05:39 PM
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Interesting. It was reported a month or so ago that a possible merger of GM and Chrysler would be problematic until GMAC's status as a bank holding company was granted. Federal banking rules require that, in order for GMAC to become classified as a bank holding company, any non-bank holding company could not hold more than 24.9% of the asset.

What's interesting is that I've seen no news regarding Chrysler Financial Services and any attempt by them to be similarly classified...but they hold $11Billion in reserve so they probably are not willing to become one. And wouldn't GM love to get their hands on that amount of cash if they could swing an acquisition or merger as Cerberus (which has a majority ownership in Chrysler) would end up owning most of GM and Chrysler + have Chrysler Financial's assets as well.

Oh, what a wicked web!
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Old 12-25-2008, 06:38 PM
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Quote:
Originally Posted by 07HEMI View Post
http://www.detnews.com/apps/pbcs.dll...812250372/1148

Should help Chrysler and GM sell some cars/trucks
I can't really agree with both Hemi and MadDog on the issue of a sales benifit from a bailout. Although a bailout combined with concessions from the UAW can make Chrysler and GM both more profitable and eventually more competitive ,It won's help sales a bit. Sales will improve when the general public again begins buying cars and trucks. There's plenty of product out there to buy but very few people are buying. Our big 3 are not the only auto makers suffering. Toyoto ,the largest MFG. in the world is reporting losses along with Honda and all the others ..This is Toyoto's first losses year since 1941... What will help sales is not available borrowing or lower interest costs.Hell there are cars out there with ZERO interest and still no one is jumping up to buy ...The solution is to put this so called bailout money directly into the hands of the consumer .How to do this equitably is another issue and even a more complex one ...
Merry Christmas / Hanukkah and God Bless us all.
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Old 12-25-2008, 07:07 PM
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Right on, Roadie! Send some of that bailout cash my way, Uncle Sam!!!
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Old 12-25-2008, 07:26 PM
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Quote:
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Right on, Roadie! Send some of that bailout cash my way, Uncle Sam!!!
Hey Bud ...I tried to divide 1 trillion dollars ( the new bailout figure ) by the 270 million US population to see how much we'd all get and my adding machine pooped out .. probably the same result if the Feds tried it .

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Old 12-25-2008, 08:08 PM
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LOL...if they did that, who'd make the stuff we'd buy? China, India, Russia, Japan and other countries probably 'cause we wouldn't be working anymore...man, inflation would be triple or quadruple digit. A loaf of bread would be around $1,000...

Naw, just send me a little bit, say $5M or so
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Old 12-25-2008, 09:17 PM
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Quote:
Originally Posted by MADDOG View Post
LOL...if they did that, who'd make the stuff we'd buy? China, India, Russia, Japan and other countries probably 'cause we wouldn't be working anymore...man, inflation would be triple or quadruple digit. A loaf of bread would be around $1,000...

Naw, just send me a little bit, say $5M or so
That's ok Maddog .I'm on a carb diet anyway and not eating bread ...And if the banking and real estate takes it on the chin any harder I won't be eating at all ....I'll just move into that new 5th wheel and become trailer trash ..
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Old 12-25-2008, 11:35 PM
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LOL Roadie!
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