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Discussion in 'Electric Vehicles' started by vfx, Aug 25, 2008.
BBC NEWS | Business | White House cool on car bail-out
Critics urge ouster of GM CEO but allies rally - Yahoo! Finance
Deal reached in principle on $15B auto bailout - Yahoo! Finance
Tentative deal reached in auto bailout talks - Yahoo! News
Bailout plan could soon face House vote - Yahoo! News
Repercussions of failed automaker bailout spreading quickly - Autoblog
Looks like the bailout plan has failed in the Senate.
Now it's up to Bush to take funds out of the $700 billion Wall Street bailout without a vote.
$14 Billion Auto Bailout Dies in Senate
The BBC News that I just woke up to was spinning this against the unions: BBC NEWS | Business | US car bail-out fails in Senate
If Bush does now have to take this out of the $700bn Wall Street fund, what does it mean for Tesla's chances of getting some cash in the immediate short term?
Treasury ready to prevent collapse of automakers - Yahoo! Finance
The effects are being felt a long way away: US car industry collapse rocks the City | News
Darryl Siry weighs in on the auto industry:
Greentech Media: Green Light Blog Archive The Fundamental Issue in the Auto Industry Is Overcapacity
All in all my take on the requested so-called "bailout" is that propositions were suggested by the Senate/Congress by way of questioning (testing"?") the CEO's willingness to make sacrifices ("good faith" efforts in exchange for taxpayer willingness to release some, if not all, of the requested funds) to keep their respective livelihoods (their individual auto companies, not to mention the thousands of employees dependent upon them for their livelihoods) afloat, but they (Congress) and we (the American people) received little more than token acceptance of the suggestions in what amounts hollow public proclamations (i.e., the CEO's willingness to accept none but "$1" salaries):
"The heads of the Detroit’s automakers might be willing to accept $1 salaries as a condition of a federal bailout, but they won’t commit to capping their total compensation, even at $1 million."
The Washington Independent No Word on Other Options for Detroit Bailout
Even the UAW balked at restructuring compensation packages:
"Even as Detroit's Big Three teeter on collapse, United Auto Workers President Ron Gettelfinger said Saturday that the problem is not the union's contract with the automakers and that getting the automakers back on their feet means figuring out a way to turn around the slumping economy."
UAW leader says blame economy for Detroit 3 woes - Yahoo! Finance
They all ask (albeit demand) alot, yet are unwilling to give anything of themselves in return, which would only serve to benefit them. For all intents and purposes, they've cut off their noses in order to spite their own faces, be it intentional or not.
As the metaphor goes, "actions speak louder than words...", and from their behavior it's easy to realize that they never had any real intention of changing anything about the manner in which they've been conducting business but were, instead, intent only on prolonging the ever debilitating debacle that the American auto industry has atrophied to under their individual tutelage, pointing the finger of blame at every conceivable, and some not so readily conceivable, scapegoat out of pure avarice instead of the true culprits...themselves.
It's damned disgraceful and about as un-American as anyone can get.
Hmm..."OVERCAPACITY", I believe that's the new acronym for "digging yourself deeper".
Retooling loan requests at $30.8 billion | Freep.com | Detroit Free Press
If Tesla "doesn't deserve government bailout", then there is no way I want to see my taxes used for this...
BBC NEWS | Business | Government confirms Jaguar talks
Ford sold them to India's Tata when the writing was on the wall. Now, 6 months later, they are asking for a bailout when the parent company is obviously plenty big enough to look after itself.
So a premium brand and an SUV maker going to the wall is now a national emergency? I'd be sorry to see the end of Jaguar, especially as they are now turning out some nice cars, but life will go on. The loss of 15,000 jobs is of course very sad.
Woolworths is going under with the loss of 80,000 jobs. Are they getting a bailout? Of course not.
And BBC NEWS | Business | Chrysler plants close for a month
That's because most, if not all Government ministers have seen the inside of a Jag.
How many have seen the inside of Woolies?
Also, we can't lose the supplier of all those Landrovers that serve as troop carriers these days...
GM, Chrysler reopen merger talks: Journal
Ouch! Harsh! (but probably valid...)
Another Darryl Siry article:
Greentech Media: Green Light Blog Archive A Simple Solution to Support EV Startups