Wednesday, December 17, 2008

Chrysler shuts down

Not good.
Dec. 17 (Bloomberg) -- Chrysler LLC, awaiting a federal rescue as its cash dwindles, will shut all 30 of its plants for at least a month starting Dec. 19 as unsold cars and trucks pile up at showrooms.
See prediction 13. I question whether those factories will ever reopen.

Side topic: I was listening to Savage tonight and he raised a point: Why haven't we heard anything from George Soros regarding the Bernard Madoff calamity? Soros is normally front and center during these types of financial blow ups. The biggest Ponzi scheme in history with losses on par with Enron? It's very odd that for once Soros has no comments.

6 comments:

Anonymous said...

Wake-up America! The bailout won't work because it doesn't address the root of the problem - unfair trade practices.

We building and japanese Johny come to late ,they are come here just for money NOT LOYALTY just like all illegal alien.

When they are help crook and theft criminal from wall street paulson bush conggres so fast without question ..they are reward for being crook and take money from AIG give to big 3.

BLAME US POLITICANS THEY ARE THROW AWAY AMERICANS AND BRINK ALL CRAPS AND TOXIC AND THEY MUST BE HELP BECAUSE BIG 3 ONLY AMERICAN LEFT IN THIS COUNTRY...GOVT KILLING us DO U THINK JAPS PEOPLE USING US AUTO...Politicians Dinasty,Nepotism,lobbiest,unfair trade open border ,lier war (bribery) killing american way life..

CAN U IMAGINE WE INVENTED CARS AND WE DONT HAVE ANY BECAUSE WE ARE SUCKER !! NO FACTORY NO COUNTRY NO BORDER NO COUNTRY, 2 MILL JOBS OBAMA SAY ONLY FOR ILLEGAL ALIEN.

When the Japs STEAL every bit of our technology they get it for a zero RESEARCH & DEVELOPMENT cost. JUST LIKE THEIR STEALED OUR TECH ELECTRONICS TOO.

Then, when they pay their workers a buck-a-day, don't pay for healthcare, worker's comp, pensions, or anything else, we can't possibly compete so we get killed at every step.

The only way we can lebel the playing field is by using DUTIES. If they're a foreign car company, they should be paying duties, no matter where the cars are made. Protectionist your ass!

Wake up! Do you really think we don't need protection from these tactics? When the Big 3 go under, a $21,000 Toyota will cost $35,000.

The politicians that can't see this need to get their heads out of their ass and quit taking bribes from everybody and their mother.

Lou Minatti said...

Outstanding cut-n-paste spam, Anon. I see you've been stinking up other places with your incoherent rants. "Japs"? Blaming them is so 1989.

Tom said...

Thanks for keeping anon's comments visible, Lou, rather than just deleting them. The first paragraph seemed intelligent and I thought it'd lead to something interesting to read. Then I realised that part of the problem the US is experiencing is down to education and in some repects, literacy.

I didn't expect this particular rant to discuss illegal aliens and tie it in with the motor industry, but I was pleasantly surprised to find it included the Japanese motor industry.

That's an argument I haven't heard so far.

Bill in NC said...

I have to say I do expect a "new populism" in reaction to so many job losses.

I can easily see new import duties on nearly all foreign-made goods,

PLUS forcing foreign car assembly plants here in the U.S. to assume retirement and health care liabilities for their U.S. workers "to level the playing field" wrt domestic automakers

Anonymous said...

Lou, good topic. The auto companies need to go though this process. The problems run so deep. The southern plants make,IMHO, better autos at a lower cost. But I'm a member of the once burned mob that made a switch for a good reason and ain't going back without a good reason.

We have a viable auto industry it just ain't in Detroit. The "little 3" do make a profit overseas and the brands are popular there, but the legacy US plants are living in the 1950's. The entrinched powers at the northern plants play hard ball brinkmanship, so be ready for lots of emotions and threats, and will only accept an alternative when they face harder reality.

Anonymous said...

I travel a lot for work and get to rent cars every week. The majority of the time I get a Detroit car (wonder if they make deals with Avis?) and I get to drive many different makes and models. I have to say that I have had all good cars and would buy any of them if I were in the market for a new car. I own three Fords and have been happy with them (except for leaking sunroofs - I'll never buy another car with a sunroof)

But I don't think bailouts or imposing unfair restrictions or duties on foreign automakers is the way to build up Detroit market share. Whenever the government starts choosing winners, the consumer and taxpayer become the losers.

If the Japanese are building superior cars cheaper down in the South, Detroit should consider moving some plants down here. If labor is a little cheaper down here, UAW workers need to decide whether a decent wage is better than no wage.