dragknee66 Posted December 12, 2008 Report Share Posted December 12, 2008 Interesting. The future of the U.S. auto industry was in doubt Friday morning after a proposal for $14 billion in federal loans died in a late night Senate vote. The Senate voted 52-35 to bring the measure for a vote -- short of the 60 votes needed to advance the legislation. The failure followed the collapse of negotiations between Senate Democrats and Republicans seeking a compromise that both parties, as well as the companies and the United Auto Workers union, could accept. http://money.cnn.com/2008/12/11/news/companies/auto_bailout_senate/index.htm?postversion=2008121206 Quote Link to comment Share on other sites More sharing options...
RMTC Posted December 12, 2008 Report Share Posted December 12, 2008 Im tired of the doomsday auto industry collapse people at work. I hear stupid ideas and theories all day everyday. "What if we, a local saturn dealership, donate money?" was the winner yesterday. I dont think a bail out will help anything. Edit: I'm glad they failed to pass this. fucking union not agreeing on wage cuts to save the company that employs them. Quote Link to comment Share on other sites More sharing options...
wagner Posted December 12, 2008 Report Share Posted December 12, 2008 GM is done. They will be filing for Bankruptcy very soon so buckle up. Chrysler will be close behind and Ford will be done soon after. Things are going to get really bad when this drags down the other Auto companies. When all of that starts better be able to grow your own food and shoot a gun. The company I work for has been getting ready for all of this since the start of the quarter so it is not a mater of if but when. Quote Link to comment Share on other sites More sharing options...
Putty Posted December 12, 2008 Report Share Posted December 12, 2008 Good!! Quote Link to comment Share on other sites More sharing options...
Mallard Posted December 12, 2008 Report Share Posted December 12, 2008 We're all fucked. I don't know why it's so hard for some people to understand the ripple effect of this. The money the government will pay out in unemployment will dwaf the amount of these loans. Not to mention how many more people will foreclose on their homes. If they don't get these loans you can say hello to a depression. It's not just a Big 3 problem, it's a world problem. Other country's have already guaranteed aid for their automakers. Quote Link to comment Share on other sites More sharing options...
Gergwheel1647545492 Posted December 12, 2008 Report Share Posted December 12, 2008 When all of that starts better be able to grow your own food and shoot a gun. This is dumb. Just wanted to point that out Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted December 12, 2008 Report Share Posted December 12, 2008 I have a lease through GM.. Hows that going to work after my lease ends and I want to buy my car back??? Quote Link to comment Share on other sites More sharing options...
wagner Posted December 12, 2008 Report Share Posted December 12, 2008 We're all fucked. I don't know why it's so hard for some people to understand the ripple effect of this. The money the government will pay out in unemployment will dwaf the amount of these loans. Not to mention how many more people will foreclose on their homes. If they don't get these loans you can say hello to a depression. It's not just a Big 3 problem, it's a world problem. Other country's have already guaranteed aid for their automakers. Because some of these senators are more concerned with THEIR jobs than YOUR job. The fact that they are going to allow this to happen is insanity. If they use some sense it should have been a bailout with a forced restructuring of the industry. Now we are about to enter a world of pain. Quote Link to comment Share on other sites More sharing options...
John Bruh Posted December 12, 2008 Report Share Posted December 12, 2008 if they fail, you all will no someone out of a job. and our economy will be FUCKED Quote Link to comment Share on other sites More sharing options...
wagner Posted December 12, 2008 Report Share Posted December 12, 2008 I have a lease through GM.. Hows that going to work after my lease ends and I want to buy my car back??? My guess is you would have to buy it back from creditor that will own the portion of the asset. Quote Link to comment Share on other sites More sharing options...
John Bruh Posted December 12, 2008 Report Share Posted December 12, 2008 the lease if gm will be gmac financing, loan will be sold. u wont get out of it Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted December 12, 2008 Report Share Posted December 12, 2008 the lease if gm will be gmac financing, loan will be sold. u wont get out of it Not worried about that, I'm talking about keeping it. If I have to give it back who's taking it.. if I'm buying it back, who and I negotaiting with... see what I'm saying. I may have to drive the the south side if thats the only GM dealership left open in Columbus (unless its a creditor like mentioned before). The economy is going to be hurt bad unless a huge window is opened up to keep a good number of these people employed.... Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted December 12, 2008 Report Share Posted December 12, 2008 I can see president Bush/treasury stepping in at the last minute and providing enough money to get them through the holidays and into the Obama administration. He's said he wouldn't a couple weeks ago, but he's got nothing to lose now and it might even help his approval rating. The sad part is Ford. Which was in the best shape and started their aggressive re-structuring plan a few years ago was just starting to see the light of day, will probably need some help too because of the fallout from the other two filing for bankruptcy. Quote Link to comment Share on other sites More sharing options...
Mallard Posted December 12, 2008 Report Share Posted December 12, 2008 if they fail, you all will no someone out of a job. and our economy will be FUCKED I already know a handful of people that have been layed off because of the auto industry's troubles (my fiancee included). It's going to get much, much worse if they start filing Ch 11. Quote Link to comment Share on other sites More sharing options...
kenny Posted December 12, 2008 Report Share Posted December 12, 2008 We're all fucked. I don't know why it's so hard for some people to understand the ripple effect of this. The money the government will pay out in unemployment will dwaf the amount of these loans. Not to mention how many more people will foreclose on their homes. If they don't get these loans you can say hello to a depression. It's not just a Big 3 problem, it's a world problem. Other country's have already guaranteed aid for their automakers. Fucking. Werd. Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted December 12, 2008 Report Share Posted December 12, 2008 I also think that it's retarded that we can give 700 billion in loans to the financial system and banks, but not 15 billion to the auto industry. The auto industry has a huge affect on our economy and financial system. Quote Link to comment Share on other sites More sharing options...
kenny Posted December 12, 2008 Report Share Posted December 12, 2008 I also think that it's retarded that we can give 700 billion in loans to the financial system and banks, but not 15 billion to the auto industry. The auto industry has a huge affect on our economy and financial system. America, fuck yeah. Quote Link to comment Share on other sites More sharing options...
OSUGT Posted December 12, 2008 Report Share Posted December 12, 2008 What's 14B amongst friends??? W. will step in. This is all just a bunch of political BS. Quote Link to comment Share on other sites More sharing options...
Wease Posted December 12, 2008 Report Share Posted December 12, 2008 1. File bankruptcy 2. Disolve UAW 3. Restructure 4. Profit I've been saying it for years... :nod: Quote Link to comment Share on other sites More sharing options...
neonkiller Posted December 12, 2008 Report Share Posted December 12, 2008 I bet we start seeing all the sweet import cars that we havnt seen befor start showing up on our shores..... Either way, Were fucked soo...... Quote Link to comment Share on other sites More sharing options...
dragknee66 Posted December 12, 2008 Author Report Share Posted December 12, 2008 Maybe its time to move out of the country? We should all move hah. CR Euro edition.. with the better cars Quote Link to comment Share on other sites More sharing options...
Drewhop Posted December 12, 2008 Report Share Posted December 12, 2008 So basically the country could collapse cause the UAW refused to regulate there salaries so Senate refused them money. So it is not he government destroying the people but the people destroying the people. Does that make sense? Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted December 12, 2008 Report Share Posted December 12, 2008 This is all just a bunch of political BS. Sadly, it is actually that simple. Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted December 12, 2008 Report Share Posted December 12, 2008 One way or another, they will get a hand-out. W will come through. Quote Link to comment Share on other sites More sharing options...
wagner Posted December 12, 2008 Report Share Posted December 12, 2008 So basically the country could collapse cause the UAW refused to regulate there salaries so Senate refused them money. So it is not he government destroying the people but the people destroying the people. Does that make sense? That would be the cliff notes of the situation. The union has dug it's grave they need to be put in it and covered reguardless of the outcome. Quote Link to comment Share on other sites More sharing options...
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