Big Three Bailout?
- Thread starter noee
- Start date
JohnK said:British Leyland
So, how is TATA doing?
Jaguar/Land Rover asking UK gov't for money
Autoblog
Nov 24th 2008
Jaguar and Land Rover are having a Hell of a time trying to sell luxury vehicles in this armpit of a global economy, and parent company Tata Motors is looking for a big-time loan to keep the British Marquees afloat. In all, Tata is seeking ?1 billion from the British government to to help pay the bills. . . . .
Moving upscale might be a strategic problem when "upscale" really means volume from those with mortgage ATM.
MarkP said:
Hey brits... want to keep your jobs? Send us money or else :ack:
Sounds like blackmail
Well it looks like they have already tapped some financing so asking the U.K. government is really another round of financing
Tata's Troubles Abroad Hit Home
WSJ
NOVEMBER 24, 2008
So $828 million plus another $1.6B (U.K. gov't request) or nearly $2.5B for Jaguar and Land Rover.
That doesn't sound promising. :ack:
Tata's Troubles Abroad Hit Home
WSJ
NOVEMBER 24, 2008
. . . But car sales are slumping, and it's now clear Tata Motors overpaid for its British trophy.
Last month it had to launch a $828 million rights issue to help fund the bridging loan it needed for the deal. Now, there is a good chance that Jaguar Land Rover will seek a further line of credit from the U.K. government, either by itself or as part of an industry bailout. . . .
Last month it had to launch a $828 million rights issue to help fund the bridging loan it needed for the deal. Now, there is a good chance that Jaguar Land Rover will seek a further line of credit from the U.K. government, either by itself or as part of an industry bailout. . . .
So $828 million plus another $1.6B (U.K. gov't request) or nearly $2.5B for Jaguar and Land Rover.
. . . Group Chairman Ratan Tata knows the hole is getting deeper -- last month in an email to group chief executives he warned of "irretrievable positions" for some Tata companies as the global financial crisis continues. . . .
That doesn't sound promising. :ack:
Discontinuities create opportunities . . .
Moving on up! Chinese automakers move out of Cobo basement thanks to Detroit no-shows
autoblog
Moving on up! Chinese automakers move out of Cobo basement thanks to Detroit no-shows
autoblog
With the pull out of Porsche, Suzuki, Mitsubishi, Ferrari, Land Rover and Rolls-Royce, Nissan and Infiniti from this year's Detroit Auto Show in January, there's a lot of empty space on the show floor of Cobo Hall that needs to be filled. Chinese automakers will be the direct beneficiary of everyone's lack of interest in Detroit . . .
Naw, no Quid Pro Quo here. Move along....
"Big" 3 to buy off Congress
"Big" 3 to buy off Congress
"...Dingell's wife Debbie once worked as a lobbyist for GM.
When she married the congressman, she became a senior GM executive at an undisclosed salary. And we found the couple has extensive GM assets.
Dingell's current financial disclosure filed in May lists GM stock worth up to $350,000, options worth up to $1 million more, and a GM pension fund. In 2000, among the Dingells' GM assets were stock options worth up to $5 million."
When she married the congressman, she became a senior GM executive at an undisclosed salary. And we found the couple has extensive GM assets.
Dingell's current financial disclosure filed in May lists GM stock worth up to $350,000, options worth up to $1 million more, and a GM pension fund. In 2000, among the Dingells' GM assets were stock options worth up to $5 million."
I did a quick browse through this thread, and realized most of you dont give a shit what happens to the auto industry. You speak of how it is the UAW's fault. Why do you all jump on them when looking for somebody to blame? The only reason they have a union is because the company would fuck them in the ass if they didnt. What is wrong with somebody trying to make a decent living while having benefits and security? This is by far NOT the UAW's fault. They don't make the financial decisions. The guys with collared shirts and ties make those decisions. The guys breaking their balls, sweating in 115* heat, breathing in carcinogens all day to support their families have no say in what their company does with its finances.
I'd like to see what some of you would do if your company was about to fold and there was a chance it could be saved. Im sure you would change your position on this subject in a heartbeat.
I'd like to see what some of you would do if your company was about to fold and there was a chance it could be saved. Im sure you would change your position on this subject in a heartbeat.
WNYDiscoIIErik said:
HAHA, you mean BMW's Spartanburg, SC plant, Toyota's TN & MS plants, and numerous other "foreign" automakers are before Congress begging for a bailout!? Oh wait, oops, it's only the Big Three. Why don't you get your facts straight. We're not talking about the "auto industry" only a particular segment of the auto industry that happens to be "American."
What do the Big Three have in common that the foreign manufacturers don't? Hmmm, the UAW. No, it is not a one-way street and the Big Three execs who agreed to the UAW's extortionary contracts should be shot. I do find it funny how Toyota, BMW, Honda, and other foreign manufacturers can produce great products here in the States without the UAW. I don't think that the Big Three "crisis" can only be blamed on the UAW, there's plenty more blame to go around, stupid products, ridiculously high CAFE standards that your Democrat cronies put in place (along with some idiotic RINOs), and the list goes on.
If you don't like the capitalism (that is dying a slow and painful death) we have here in the US, then go back to Canada. Hey, if you're overweight, then they'll even give you an extra seat on the plane...
http://www.upgradetravelbetter.com/...ging-overweight-passengers-for-an-extra-seat/
Yes, you are republican, so what you say must be right.
Why dont you answer the other part about what it would be like if you were to lose your job in a similar situation? What would your family do?
Who cares if those companies dont have unions? BMW has 1 plant here. 1. The big 3 have over 70. Do you even realize what the potential outcome of this could be?
Why dont you move your negative ass to Canada if you are against American people trying to make an honest living.
Why dont you answer the other part about what it would be like if you were to lose your job in a similar situation? What would your family do?
Who cares if those companies dont have unions? BMW has 1 plant here. 1. The big 3 have over 70. Do you even realize what the potential outcome of this could be?
Why dont you move your negative ass to Canada if you are against American people trying to make an honest living.
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I'll answer... you have a choice... no one forced anyone to go work for the Big 3... its not a Big 3 Auto Draft... if you don't like where you work, find work elsewhere... even if that means moving to Canada.
The Big 3 have made numerous mistakes... UAW is just one part of it
The Big 3 have made numerous mistakes... UAW is just one part of it
I can provide some options:
- Find another job
- Move
- Get more education
- Get welfare/workfare
- Eat Spam
- Kill Deer and squirrels
- Eat Alpo
- Suffer unimaginable hardships
Nobody said they didnt like working for them. Did you even read this, Tempest? My father has worked for GM for 34 years, and never complains. People who work there dont find work elsewhere because they get paid well. What is wrong with somebody making decent money?
noee said:
First off, nobody likes spam. Second, your last one is going to be the brutal reality pretty soon.
Ahhh Welfare. Yes. And who is the one paying into this welfare? What happens when this becomes a trend of the chain reaction that will occur and nobody is left to pay into welfare?