Will the big three go bankrupt?

[BenSilverSaxo]

Well the senate failed to back the Big Three bailout bill in a vote on Thursday night. Which means that Ford, Chrysler and GM now need to get the $11Billion from President Bush and the Treasury Department.

The bill failed because the unions of the big three would not take a pay cut to the levels paid to workers at foreign-owned car plants in the US, e.g. Honda/Nissan.

Does everyone think that these inefficient companies should be saved, or should they be left to go under?

Would anyone here take a pay cut to keep their job?

News Link: http://www.pistonheads.com/news/default.asp?storyId=19111

[jonnysamol]

President Bush? Do you mean Obama? Alot of companys are going bump all over the place!

[BenSilverSaxo]

Bush is still in office, Obama hasnt taken over yet matey.

[jonnysamol]

Ahh i see! Well i doubt he will let them go? I dont know though its affecting everyone! TBH i would take a paycut but it obviously depends how much it is as the americans have bigger bills than us! I.e Food bills....

[Mr_X]

cant image that they will let them go under, pride and all.

[Barry123]

They'll be gone within the next 5 years.

[Mr_X]

Tbh they have been fucked for a while, so will more then likely just be a waste of money.

[BenSilverSaxo]

Ford supposedly has a good product line up of hybrid vehicles. Could turn them around!

[Mr_X]

Ford supposedly has a good product line up of hybrid vehicles. Could turn them around!

rofl funniest thing ive heard all day.

[Barry123]

rofl funniest thing ive heard all day.

second that motion

They're screwed, and so deeply screwed they have bollocks pouring out of their mouth

[Goodwrench]

Yes they'll go under, unless they fundamentally change their operation - efficiency :)

[BenSilverSaxo]

They are all pretty efficient IMO, they all have pretty good supply chains and are operating much like their Japanese counterparts. I think they are having problems paying all of the medical care and pensions of the old workers.

They did carry on building tanks that guzzled gas for too long though!

[Agent_Orange]

Gas guzzlers have been their down-fall. Living the american dream and all that. They still knocking out stupid big V8s which no-one over there can afford to run anymore. They all laughed at us in Europe driving around in "silly little french cars", and slagged anything Japanese (for other reasons), now they are desperate for them.
My job is likely to depend on GM getting bailed. So I've got my fingers crossed along with a few hundred thousand other people worldwide.

[Mr_X]

Gas guzzlers have been their down-fall. Living the american dream and all that. They still knocking out stupid big V8s which no-one over there can afford to run anymore. They all laughed at us in Europe driving around in "silly little french cars", and slagged anything Japanese (for other reasons), now they are desperate for them.
My job is likely to depend on GM getting bailed. So I've got my fingers crossed along with a few hundred thousand other people worldwide.

Whats your connection with GM?

[Agent_Orange]

Work for a "tier 1" supplier.... no names, but I am crapping it.

[Barry123]

Vauxhall, opel, saab...
then all the suppliers... hundreds of thousands if not millions worldwide are dependent on the bailout...

The american's have got a big way to catch up but even then, look at Japs and European car industry, much more efficient and technically ahead... and they're screwed currently too.

big big trouble.

[Agent_Orange]

Heard on the news, that Vauxhall workers are being offered a lay-off for 9 months with 30% pay or something. UK manufacturing? I think automotive has had its day over here.
I may try and get into debt collecting, protection racketing or perhaps selling dodgy booze on the market.

[alex19]

Vauxhall, opel, saab...
then all the suppliers... hundreds of thousands if not millions worldwide are dependent on the bailout...

The american's have got a big way to catch up but even then, look at Japs and European car industry, much more efficient and technically ahead... and they're screwed currently too.

big big trouble.

I just was about to add, VX220 for me please if they go bust, will be cheap as.

[scottyvtr]

heard earlier that vauxhall have temporarily laid off the plants work force on 30% wages ..........suppose its better than being made redundant altogether but still bad times though :n:




spares usually last 10years roughly thats how much is made iirc!!!

[bpm]

America is basically buggered either way, if they let the companies go they have a potential 3 million benefit cheques to be paying next month, if they dont they will be bailing out these companies with taxpayers money for the forseeable future.

Either way they do not have the money so they must make it up by borrowing against non existing world bank loans, which means the end of the American economy for many many years to come. Hopefully they wont take everyone else with them, though we have got f all chance as well to be honest.

[TU-Tuning]

Even if they die out in their current form someones gonna buy em, theres too many shny assets for an oil rich Arab not to pick up cheap