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Why the auto industry - 9/4/2009 11:33:26 PM

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Why is the Govt throwing money at an industry that has no value? The last thing people are considering doing is going into personal debt for 20-30k to buy a car. I am sorry if the car plants close and I am sure someone will buy them at some point, but if the Govt is going to spend money, they should do it with an industry that has a possibilty of making a profit? thoughts or comment

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RE: Why the auto industry - 9/4/2009 11:40:37 PM

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Unless that pretty, blue Firebird (?) you've got set for the avatar only comes out from under a tarp in the garage once a month, Acer, I'm surprised you don't get this. These things are expensive, and we use them up in many ways. They are a staple of our economy. We send far too much of our money away when we buy the foreign ones. A domestic auto industry is very important.

Please don't interpret that to mean that we should not have allowed the failures to fall into the clutches of of the new and creative. I'm not so eager to buy complete crap either.

edit to fix a possibly Freudian typo.

< Message edited by TheHeretic -- 9/4/2009 11:42:26 PM >

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RE: Why the auto industry - 9/4/2009 11:50:42 PM

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quote:

ORIGINAL: Acer49

Why is the Govt throwing money at an industry that has no value? The last thing people are considering doing is going into personal debt for 20-30k to buy a car. I am sorry if the car plants close and I am sure someone will buy them at some point, but if the Govt is going to spend money, they should do it with an industry that has a possibilty of making a profit? thoughts or comment

As I recall, the auto industry employs something like 400,000 people, not including those empoyed by the ancillary industries (like parts & services). It is one of the very few manufacturing sectors with a major component left in the United States. Despite its losses over the past decades, the US still supplies a significant chunk of automobiles worldwide.

By comparison, the financial industry employs something in the neighborhood of 40,000 people in the US. Trillions have been spent on saving the banks and brokerage houses and billions on saving the auto industry.

As "industries with no value" go - if half the banks and brokerage houses went belly up - the remainder could easily suffice to meet all the demand for liquid capital in the market but somehow they are "too important" to be allowed to go under - even though they employ a tenth of what the auto industry does.

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RE: Why the auto industry - 9/5/2009 12:32:12 AM

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GM has been quietly moving its production capacity to China. In few years, I guess, they will shrink their North American operations to a minimum. Government bailout gives them time for a smooth transition. Chinese need to get US advanced car technology fast; time is running out.

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RE: Why the auto industry - 9/5/2009 12:51:43 AM

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quote:

ORIGINAL: Acer49

Why is the Govt throwing money at an industry that has no value? The last thing people are considering doing is going into personal debt for 20-30k to buy a car. I am sorry if the car plants close and I am sure someone will buy them at some point, but if the Govt is going to spend money, they should do it with an industry that has a possibilty of making a profit? thoughts or comment

Well about a year ago I went "into hock" for a new Lincoln MKS @ $46k per copy.
So people are still doing it!
Now Ford/Lincoln/Mercury is doing pretty well. G.M. on the other hand shouldn't bebailed out if they're going to move their operations to China.
If they're going to do that I certainly won't be buying a Cadillac from them! Fuck 'em!
I'm the type who likes my stuff made in this country and if I can't find that I simply don't buy.
I recently bought some models of classic cars and when they arrived they said, "Made in China" on them!
I sent them back and called the model co. up and screamed at the secretary! I really let her have it! Called her a "dirty cunt" and lots of other things.
I hope she went home sick and I hope that deutschbag co. goes out of business.

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RE: Why the auto industry - 9/5/2009 2:03:25 AM

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quote:

ORIGINAL: Acer49
The last thing people are considering doing is going into personal debt for 20-30k to buy a car.

Actually it's quite the opposite. The last news report I saw showed that the companies had great sales for July and August.

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RE: Why the auto industry - 9/5/2009 6:26:04 AM

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~FR~

I believe it was either the Mayor of Detroit or a Congrassman from that area, that said the Auto Industry is actually Insurance companies that make cars to pay for their benefits. Also, as someone has already pointed out, it is one of the few major manufacturing areas left in this country. Many of the others have been outsourced to other countries for cheaper labor.

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RE: Why the auto industry - 9/5/2009 10:22:01 AM

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quote:

one of the few major manufacturing areas left in this country.

Additionally--better manufacturing capacity helped the U.S. greatly in W.W. II. We are losing this edge.

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RE: Why the auto industry - 9/5/2009 12:47:37 PM

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Sales were great this summer. Does 'cash for clunkers' ring a bell ? That is why it was a good couple of months.

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RE: Why the auto industry - 9/5/2009 2:30:35 PM

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Losing? I think we have already lost the edge in many areas. I see so many factors that seems to funnel things towards medicority.

As far as WWII goes, you are absolutely correct and just some light reading on the P-51 will show how in just a couple of years we can change directions on something if there are enough of the various groups on board.

quote:

ORIGINAL: Musicmystery

quote:

one of the few major manufacturing areas left in this country.

Additionally--better manufacturing capacity helped the U.S. greatly in W.W. II. We are losing this edge.

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RE: Why the auto industry - 9/5/2009 3:08:02 PM

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I understand the need to keep, the rear end working. parts and such. I don't think there will be enough demand for new cars to justify the amount of money that the auto industry has been given. They made their bed, now they must lay in it. i do not believe that if the auto maufacurers go bankrupt that will be the end of it. I believe someone will buy them and it will be business as usual

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RE: Why the auto industry - 9/5/2009 4:00:26 PM

Arpig

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quote:

i do not believe that if the auto maufacurers go bankrupt that will be the end of it. I believe someone will buy them and it will be business as usual

You are absolutely right, they would be bought up....by Toyota, Hyundai, Suzuki, et al. Are you sure you really want that?

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RE: Why the auto industry - 9/5/2009 4:06:28 PM

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quote:

GM has been quietly moving its production capacity to China.

Cars cost too much to ship overseas. You put your production in the market. This is why Toyota, BMW, Hyundai, and others have assembly plants in the US.

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RE: Why the auto industry - 9/5/2009 4:33:01 PM

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The reason GM is moving a lot of production capability to China is because that market is starting to boom, thanks to the capitalist comprimise that came about after the revolution in the Square. Right now, only several major cities have been developed (Bejing and Hong Kong being prime examples.) With luck, they will push new technologies that won't be creating a vast cloud of lollution that will be drifting out across the Pacific to destroy OUR enviorment. (As the coal being burned there already does.)

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RE: Why the auto industry - 9/5/2009 4:38:39 PM

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The biggest problem China will facing very soon is water, They have already polluted thier main rivers so badly that they are unsuitable for even industrial use, let alone irrigation or drinking.

The pollution situation over there is just going to get worse as their middle class grows and all those people start buying refrigerators and TVs and cars.

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RE: Why the auto industry - 9/5/2009 4:57:52 PM

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quote:

Original: servantforuse
Sales were great this summer. Does 'cash for clunkers' ring a bell ? That is why it was a good couple of months.

Really? Does the Chevy Camaro ring a bell? With 19 miles per gallon, I don't believe it qualifies under the cash for clunker rules. Yet despite that, the Camaro is sold out virtually everywhere.

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RE: Why the auto industry - 9/5/2009 7:03:35 PM

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I'm not saying that cash for clunkers was bad, I'm just saying it was a reason to get buyers back in the showroom. It worked. I hope they continue to sell cars but once the deal ended, I'm not so sure it will..

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RE: Why the auto industry - 9/5/2009 7:18:17 PM

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Well considering that many of the now "hard to find cars" didn't qualify for purchase under that program, I bet they'll do alright.

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RE: Why the auto industry - 9/5/2009 7:21:53 PM

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I hope that you are right.

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RE: Why the auto industry - 9/6/2009 3:42:25 AM

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The govenrment wants to take over the auto industry. Remember, Uncle Sam now owns 60% of GM. Besides, you just can't let an old friend down. Auto Industries have made several campaign contributions over the years. They are calling in their favors.

The Obama administration is doing everything in its power to stop job loss. No president wants a term where unemployment kept rising.

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