Obama Switches Tactics; Attacks Self

Paranoid Android said:
Has anyone seen that new "Insourcing vs. Outsourcing" Ad from Obama? It was almost good, and then he mentions that he supported helping the Auto Industry. That was a dumb thing to do, because it's admitting that he supported the bail-out to a public that is not only largely opposed, but actively creates problems for the Big 3 by purchasing all of those stupid foreign cars in the first place.
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I knew this guy was a masochist -- most liberals are.
 
signalmankenneth said:
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Show-Horse.jpgColor-Obama-Solyndra.jpgobamatax.jpg
 
Althea said:
When/If the big 3 offer a product that holds up as well as my VW, I might consider buying it.

I still buy US made trucks.


Lest we forget....the Big 3 went under, largely due to the narrowminded, backward thinking executives who plodded headlong into the 'Bigger Is Better', Hummer based marketing strategy. Funny how it all started with Desert Storm. Talk about the unwashed, pseudo patriotic masses.

There was nothing on the drawing board, for those who wanted a quality, fuel efficient vehicle.

When the price of gas tripled, the party was over. The big 3 had millions of obsolete gas guzzlers sitting in the ports.

It's just as easy to blame the US populace, as they were easily led into believing that they 'needed' a 12 mpg 4 door pickup, in order to get their kids to soccer.


In the free market, if your product is garbage, you eventually reap what you've sown.

Bailing out the auto industry was necessary. The unions/CEOs had to make huge concessions, which brought the business model back down to Earth.

Not to worry...they'll create another fad, and it will be off to the races again.
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An article from 1990 ranked the Big 3 as the companies which had made the worst business decisions during the preceding decade. They just chose to keep fucking up.
 
Paranoid Android said:
An article from 1990 ranked the Big 3 as the companies which had made the worst business decisions during the preceding decade. They just chose to keep fucking up.
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Oh yeah, I agree...Now you are taking me back to my days living in Lansing Mi...American cars in the 80s were beyond horrible...

Although other than GM products, they have been making improvements.
 
how many jobs were lost because of the deficit spending of Obama and the Democrats?........let's see...unemployment went from 7% in January 2010, then rose to nearly 12%.....over 14% here in Michigan the home state of the "saved" auto industry jobs......and stayed that way until....guess what?.....we elected a Republican governor.....
 
PostmodernProphet said:
how many jobs were lost because of the deficit spending of Obama and the Democrats?........let's see...unemployment went from 7% in January 2010, then rose to nearly 12%.....over 14% here in Michigan the home state of the "saved" auto industry jobs......and stayed that way until....guess what?.....we elected a Republican governor.....
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The same governor who praised Obama's bailout of the auto companies as the reason for the turnaround? Yup!
 
PostmodernProphet said:
I will repeat.....Ford did not take a bailout......it also wasn't shit deep in unfunded pension obligations.....it's also selling cars......
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Ford took private money before the crash. And they're taking advantage of govt. programs in order to pay it back. Do you understand what 'junk bond status' means?



Ford was the only one of Detroit's three automakers able to avoid taking a direct government bailout in 2009 to bypass bankruptcy. However, that doesn't mean it hasn't been able to benefit from some government largess.

Back in 2006 before the credit markets collapsed, Ford essentially mortgaged every facility it had in order to borrow $23.5 billion. That money was used to provide operating cash flow that General Motors and Chrysler didn't have when things went south in 2008. The money allowed Ford to keep the lights on, but it also saddled the company with the debt service payments of $318 per vehicle in the second quarter of this year.

Rather than direct bailouts, Ford has been able to take advantage of several government-backed low interest loan programs like the Advanced Technology Vehicle Manufacturing program run by the Department of Energy to fund new vehicle development and factory retooling. Ford is also getting tax breaks and low interest loans from various states as well as other countries like the UK and Russia. At the same time, it has used profits earned in the past year to pay down higher interest debt earlier than planned. In doing so, Ford hopes to get back from junk bond status to investment grade by late 2011 or early 2012.
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http://www.autoblog.com/2010/08/10/report-ford-using-government-backed-loans-to-pay-off-debt/
 
PostmodernProphet said:
51% of Chrysler......around 35% of GM......
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Ah, but you aren't telling the whole story. Unions took stock shares. It was an ingenius ploy by Obama. Now, they are bargaining against themselves when they have contract negotiations.
In essence, they're labor, AND owners.
 
Paranoid Android said:
An article from 1990 ranked the Big 3 as the companies which had made the worst business decisions during the preceding decade. They just chose to keep fucking up.
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They were 'fucking up', while reaping huge rewards. The govt was complicit, in the sense that they relaxed emissions/registration regulations on the gas guzzling barges that were being sold. This helped put a gas guzzler in every driveway.


Why not just 'stay the course', when the current fad demands more junk?


Of course, foreign manufacturers were still building quality products that got better gas mileage.
 
Althea said:
Ah, but you aren't telling the whole story. Unions took stock shares. It was an ingenius ploy by Obama. Now, they are bargaining against themselves when they have contract negotiations.
In essence, they're labor, AND owners.
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My bet is that they go into these negotiations like kids with the keys to the local candy store.
 
j-mac said:
My bet is that they go into these negotiations like kids with the keys to the local candy store.
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Not possible. The union retiree healthcare trust is now funded w/stock shares. There's a fine line they'll have to walk, in order to assure continued profitability.

Likewise, if they want to raise share price, the quickest way to do so is to have massive layoffs. I'm sure the unions won't do that.

Ford, on the other hand, has no such buffer w/the unions. Some interesting times ahead.
 
Althea said:
Not possible. The union retiree healthcare trust is now funded w/stock shares. There's a fine line they'll have to walk, in order to assure continued profitability.

Likewise, if they want to raise share price, the quickest way to do so is to have massive layoffs. I'm sure the unions won't do that.

Ford, on the other hand, has no such buffer w/the unions. Some interesting times ahead.
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Well, what happens to a pension program when it goes broke? It goes into a federal program...So I don't think that the UAW is sweating too much...But you are right on one thing, we are blessed with interesting times.
 
Althea said:
Ah, but you aren't telling the whole story. Unions took stock shares. It was an ingenius ploy by Obama. Now, they are bargaining against themselves when they have contract negotiations.
In essence, they're labor, AND owners.
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you call it ingenious ploy, we call it socialism.....
 
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