Comments on: Add GM, Ford, and Chrysler to this List http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html Dispatches from a Small Business Sun, 12 Feb 2012 15:59:49 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: HS http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15127 HS Fri, 12 Dec 2008 13:50:13 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15127 <p>What plagues these companies is the same thing that plagues America. Of the people, by the people, for the people... what happens to them is what will happen to us. I asked a Russian friend of mine what happened when his country defaulted on loans. Loss of jobs, loss of homes, loss of food... his family went to stay with his aunt on the farm while some that are still in the city stood in line for hours for butter. Same thing as a depression... just localized. </p> <p>The U.S. is defaulting on its loans if you haven't noticed over and over again.</p> <p>Printing money is last resort default.</p> What plagues these companies is the same thing that plagues America. Of the people, by the people, for the people… what happens to them is what will happen to us. I asked a Russian friend of mine what happened when his country defaulted on loans. Loss of jobs, loss of homes, loss of food… his family went to stay with his aunt on the farm while some that are still in the city stood in line for hours for butter. Same thing as a depression… just localized.

The U.S. is defaulting on its loans if you haven’t noticed over and over again.

Printing money is last resort default.

]]> By: ErikTheRed http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15126 ErikTheRed Fri, 12 Dec 2008 05:33:13 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15126 <p>Well, looks like the bailout won't happen this year; it just failed a cloture vote in the Senate. Apparently the Republicans acted like Republicans for once. Shocker.</p> Well, looks like the bailout won’t happen this year; it just failed a cloture vote in the Senate. Apparently the Republicans acted like Republicans for once. Shocker.

]]> By: OClvl3 http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15125 OClvl3 Thu, 11 Dec 2008 22:13:41 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15125 <p>Saw this today and it made me laugh.<br /> http://buffalobeast.com/133/bigthree.jpg</p> Saw this today and it made me laugh.
http://buffalobeast.com/133/bigthree.jpg

]]> By: eCurmudgeon http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15124 eCurmudgeon Thu, 11 Dec 2008 21:54:42 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15124 <p>"Wouldn't it be smarter to just let them file for bankruptcy now?"</p> <p>Not bankruptcy, Chapter 7 liquidation. If anything, any government handout funds should be for the express purpose of winding down operations at all three companies and turning the lights off in a controlled, staged manner.<br /> </p> “Wouldn’t it be smarter to just let them file for bankruptcy now?”

Not bankruptcy, Chapter 7 liquidation. If anything, any government handout funds should be for the express purpose of winding down operations at all three companies and turning the lights off in a controlled, staged manner.

]]> By: Mike http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15123 Mike Thu, 11 Dec 2008 19:00:04 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15123 <p>Well the first damn thing they should do is not even consider the UAW. Let 'em strike if they want. They can hire laborers for about half the price anyway.</p> <p>Apologies to anyone who belongs or has ties to the UAW. But honestly, the crap they've been allowed to get away with at the hands of the automakers and the government is almost criminal, IMO.</p> Well the first damn thing they should do is not even consider the UAW. Let ‘em strike if they want. They can hire laborers for about half the price anyway.

Apologies to anyone who belongs or has ties to the UAW. But honestly, the crap they’ve been allowed to get away with at the hands of the automakers and the government is almost criminal, IMO.

]]> By: Will H http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15122 Will H Thu, 11 Dec 2008 12:52:51 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15122 <p>Ford is in the best shape of the 3, they didn't ask for immediate money like the other 2, they wanted a line of credit of $9B just in case they need it in the future. </p> <p>So I was wondering why doesn't Ford oppose the bailout? If GM fails for example won't that improve Ford's market share? Or is Ford worried that if GM goes chapter 11 and reorganizes that GM would be able to have a better labor agreement and then put Ford at a disadvantage? </p> <p>If I owned a company I would burn it to the ground before I would go begging to those self righteous SOBs in Washington.</p> Ford is in the best shape of the 3, they didn’t ask for immediate money like the other 2, they wanted a line of credit of $9B just in case they need it in the future.

So I was wondering why doesn’t Ford oppose the bailout? If GM fails for example won’t that improve Ford’s market share? Or is Ford worried that if GM goes chapter 11 and reorganizes that GM would be able to have a better labor agreement and then put Ford at a disadvantage?

If I owned a company I would burn it to the ground before I would go begging to those self righteous SOBs in Washington.

]]> By: SmartDogs http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15121 SmartDogs Thu, 11 Dec 2008 04:17:43 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15121 <p>Wow - what a stunning revelation. People who have a history of being fiscally irresponsible are more likely to default on loans than those who have not.</p> <p> ...I wonder how many federal dollars went into funding that study?</p> Wow – what a stunning revelation. People who have a history of being fiscally irresponsible are more likely to default on loans than those who have not.

…I wonder how many federal dollars went into funding that study?

]]> By: Ethan Bloch http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15120 Ethan Bloch Wed, 10 Dec 2008 23:41:02 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15120 <p>"You can absolutely, without a doubt, add the Big 3 to the list of folks who will be facing default once again just months after getting their first dollop of federal money." I am in agreement with you. Wouldn't it be smarter to just let them file for bankruptcy now? Then provide them with funding to re-org into smaller, stronger automobile manufacturers?</p> “You can absolutely, without a doubt, add the Big 3 to the list of folks who will be facing default once again just months after getting their first dollop of federal money.” I am in agreement with you. Wouldn’t it be smarter to just let them file for bankruptcy now? Then provide them with funding to re-org into smaller, stronger automobile manufacturers?

]]> By: dearieme http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15119 dearieme Wed, 10 Dec 2008 23:32:41 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15119 <p>Governments will default on their fixed interest debt by inflation, and on their inflation-linked debt by rigging the calculation of the inflation rate. They'll renege on "entitlements" by, at the very least, means-testing them. There is no alternative - governments are insolvent.</p> Governments will default on their fixed interest debt by inflation, and on their inflation-linked debt by rigging the calculation of the inflation rate. They’ll renege on “entitlements” by, at the very least, means-testing them. There is no alternative – governments are insolvent.

]]> By: JimBeaux http://www.coyoteblog.com/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html/comment-page-1#comment-15118 JimBeaux Wed, 10 Dec 2008 22:52:04 +0000 http://www.warrenmeyer.net/coyote_blog/2008/12/add-gm-ford-and-chrysler-to-this-list.html#comment-15118 <p>It appears to me that we're balancing on a tightrope - or tight-thread. One little unexpected problem could send the whole economy toppling over the edge of the cliff. Say, a pandemic. Heck, even an epidemic. Or another natural disaster in a major city. Or a terrorist attack. Any number of things. For months now, my gut has started to tighten and twist whenever I read about the plans of the politicians to stimulate the economy or bailout the financial situation. According to my figures, each and every taxpayer is already on the hook for $61,500 in bailout money, based on the current bailout total of 8.5 trillion (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/26/MNVN14C8QR.DTL) and the number of US taxpaers. Most everyone expects the bailout total to only keep going up. The 2009 deficit is expected to be $438 billion. Adding Obama's stimulus package could take it over a trillion. I truly believe that we are on the cusp of some very dark times across the globe. I'm desperately trying to get my own personal finances in order, and yes, I am stocking up on canned goods, dried beans, rice, and bottled water. I'm not a brilliant thinker, but I'm not some mindless moron either - and I, for one, am getting more frightened by the day.</p> It appears to me that we’re balancing on a tightrope – or tight-thread. One little unexpected problem could send the whole economy toppling over the edge of the cliff. Say, a pandemic. Heck, even an epidemic. Or another natural disaster in a major city. Or a terrorist attack. Any number of things. For months now, my gut has started to tighten and twist whenever I read about the plans of the politicians to stimulate the economy or bailout the financial situation. According to my figures, each and every taxpayer is already on the hook for $61,500 in bailout money, based on the current bailout total of 8.5 trillion (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/26/MNVN14C8QR.DTL) and the number of US taxpaers. Most everyone expects the bailout total to only keep going up. The 2009 deficit is expected to be $438 billion. Adding Obama’s stimulus package could take it over a trillion. I truly believe that we are on the cusp of some very dark times across the globe. I’m desperately trying to get my own personal finances in order, and yes, I am stocking up on canned goods, dried beans, rice, and bottled water. I’m not a brilliant thinker, but I’m not some mindless moron either – and I, for one, am getting more frightened by the day.

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