US car bail-out fails in Senate !

  Geronimo. 12:09 12 Dec 2008
Locked

Huge issue is this huge & its failed to get backing so it looks like they wont get the money, if so Vauxhall cars over here might go under..

click here

  Geronimo. 12:16 12 Dec 2008
  GANDALF <|:-)> 12:24 12 Dec 2008

There is no point in pouring money into these monoliths. They will not increase sales in the near future and to make matters worse, they have totally the wrong range of cars. They are being rogered by the Japanese makers and any money ($34bn) will only last a few weeks. GM is losing $52000 a second. Let them roll over and die.

G

  Cymro. 13:07 12 Dec 2008

If companies like these go under then you can bet your life it will hit the British economy very hard.

  DippyGirl 13:25 12 Dec 2008

I suppose if you have used $700billion to bail out wall street there isnt anything left for manufacturers

  laurie53 20:01 12 Dec 2008

As usual under the odd system used over there, doesn't matter what the elected representatives say, the President may go ahead with the bail out anyway

click here

  AL47 20:04 12 Dec 2008

i find it unfair as to why some peoples jobs are more important than others, it must be pretty sick for the firm you work for to fail, while another gets bailed out!

these companies are pretty irresponsible!

  spuds 22:41 12 Dec 2008

Tell that to the financial institutions, who still seem to think that public money given to them is not sufficient, because they want more.

Yet at the same time, these so called caring institutions are penalising the public and small business's.

  Forum Editor 23:43 12 Dec 2008

affecting the American car industry was the fact that the senior executives who went to beg for billions of dollars from the American taxpayer all travelled to Washington in their company executive jets.

When asked by a member of the Senate committee to put up a hand if they would be prepared to leave the jet on the ground and fly back to Detroit or Chicago on a scheduled flight, not one of them volunteered.

Travel round America and count the number of European and Japanese cars you see and you'll realise why the likes of General Motors are in trouble - they're offering their potential customers the wrong vehicles. A business that fails to understand the market it's trading in doesn't deserve to be bailed out at the taxpayer's expense.

  WhiteTruckMan 23:48 12 Dec 2008

"A business that fails to understand the market it's trading in doesn't deserve to be bailed out at the taxpayer's expense."

Does that also include banks?

WTM

  GANDALF <|:-)> 10:17 13 Dec 2008

This is tantamount to trying to revive a corpse. You can put on some make up and hide the rotting smell for a while but there is nothing that can be done to change the state. TThe over-paid PR disasters that run these companies have failed to measure the economic climate over the lat 4 years.
They chose to ignore the (startlingly obvious) rise in sales of small (comparatively) Japanese cars and the way that the American publics attitudes and spending habits were changing. Nissan and Honda cannot sell cars in The States at present so these monoliths have de nada chance, somewhere between no hope and Bob Hope.
Chucking money at them is just going to prolong the misery and strengthen the resolve of the dictatorial unions who seem to be also oblivious to the changing economy, common sense and reality.
It takes a LOT of money, time and effort to produce one new car, never mind a range of smaller cars..for confirmation of this you need only look at the pathetically embarrassing and frankly laughable attempts by Rover (before they were put out of their misery and the Chinese bought them) during the 2000s to compete with the rest of the European manufacturers. They only succeeded in producing tat after tat which was not even reliable.

G

This thread is now locked and can not be replied to.

Elsewhere on IDG sites

The Evil Within 2 review-in-progress

InVision Studio takes on Adobe XD and Sketch

iPhone X news: Release date, price, new features & specs

Comment transformer un iPhone en borne Wi-Fi ?