[louisvillekid]

Read an article in yesterdays business section about GM hemorrhaging cash and possibly having to file for chapter 11, and if they have to start liquidating and slashing prices(not that the industry as a hole have already been doing that), that it would pull the already struggling Ford and Dodge under with them.

what i'm curious about is, does anyone know how much of the US economy is tied directly or indirectly to the automotive industry?
Like an overall %
Cause i know here in Ky. we have a shitload of plants that make stuff for car manufactures, plus car making plants.

[fiveteamer]

people do not want to buy huge pickup trucks and gas guzzlers.

It's time for these idiots to adapt to the times, bailing them out would be beyond silly.

make a f'kin electric car, small car, safe car.

This is what people need/want.

[poetwarrior41]

Wouldnt this be a better question for the CNBC Forum? Jesus Christ most of us our sweating games in the 4th Quarter and trying to find winners for the afternoon games, we dont got time to be worrying about Louisvilles local economy.

[Sinister Cat]

Even if the big three went down, would it really change manufacturing in the U.S. that much? Cars would still be bought by people, would have to be built somewhere regardless of nameplate. Not many cars are shipped from overseas anymore, most cars, regardless of brand, for the U.S. market are built in North America.

[louisvillekid]

Originally Posted by poetwarrior41

Wouldnt this be a better question for the CNBC Forum? Jesus Christ most of us our sweating games in the 4th Quarter and trying to find winners for the afternoon games, we dont got time to be worrying about Louisvilles local economy.

you didn't have to read the thread. the title clearly didn't say anything about football. I'm not going to go and create a screen name on a stock board just to ask a question that some posters on here might know.


I was hoping John or Ragewizard or some of the other stock guys are on here and know the answer.

I understand the US's big 3 have been complacent to get with the times.
I'm just curious how much of the overall US economy is tied to the Automotive industry.

[capitalist pig]

USA Today reported that 10% of the workforce are directly or indirectly tied to auto industry. No way the Govt lets them fall. Obama himself, said that its the backbone of American manufacturing industry, so that there pretty much says they wont let it fail.

later

[daggerkobe]

No bailout for them. They are nothing but financial albatrosses that need to die.

Had they taken pride in their work and actually produced good cars, they wouldn't be lagging so far behind the superior Honda & Toyota.

We got plenty of foreign brands opening up new factories in the US anyways.... another reason why the Big 3 needs to take a hike.

[capitalist pig]

JMO, but if the new administration lets the auto industry fail, then the new President is doomed to failure himself within the 1st year. Obama cant save the economy and let the auto industry fail at the same time. Think about it, if unemployment is now 6.5%, then add 10% to that from the auto industry you got 16.5% unemployment.You cant save the economy with 16.5% unemployment.Besides the Jap car manufacturers here in the USA are non union, and they arent selling any cars either.Honda/Toyota/etc. all their car sales were just as bad as the big 3 American ones last month.

later

[purecarnagge]

There was once a division in the early 2000's called the blue division...but it never went anywhere was never really funded, because americans gave up the sedan/coupe markets to the Foreign companies because they were making SUVs and TRUCKS like no other...well now they need those markets and there core market isn't there...its TRUCKS SUVS, and nobody wants them.

Now there union really ****ed them. 30.00 more an hour is what it costs american car companies vs there competition. The contract was "recently" negotiated, but now its at the point where whose going to buy cars from companies about to enter bankruptcy...makes them "lifetime", and 10 year warranties worthless...

I'm considering a 4 door sedan currently myself. Iwill buy used prob something 04ish next year. (I hate losing big money on cars its a financial pitfal). I will more than likely get an accord, camry, altima, maxima.

The only american car in the running is a decked out Grand Prix.

[Deuce]

Originally Posted by daggerkobe

No bailout for them. They are nothing but financial albatrosses that need to die.

Had they taken pride in their work and actually produced good cars, they wouldn't be lagging so far behind the superior Honda & Toyota.

We got plenty of foreign brands opening up new factories in the US anyways.... another reason why the Big 3 needs to take a hike.

Are you fukking serious bro? Do you know how this economy works? Are you really aware what happens if something happened to the American companies? It's not 10% of jobs here in America, its probably close to 25%. Instead of a recession, it would be the "Greatest Depression". Do some research you ignorant schmuck before you open your cock suckers.

[robzilla]

I had a GM car and it was garbage. Everyone i know that has a GM car says thiers are garbage too.
I got a Honda and everyone that used to have a GM is getting a Toyota or a Honda.

[Deuce]

Originally Posted by robzilla

I had a GM car and it was garbage. Everyone i know that has a GM car says thiers are garbage too.
I got a Honda and everyone that used to have a GM is getting a Toyota or a Honda.

When was this 95?

[louisvillekid]

Originally Posted by capitalist pig

USA Today reported that 10% of the workforce are directly or indirectly tied to auto industry. No way the Govt lets them fall. Obama himself, said that its the backbone of American manufacturing industry, so that there pretty much says they wont let it fail.

later

thanks CP, i found the article on usatoday online. it said 1 in 10 US jobs were directly or indirectly tied to the auto industry.

[losturmarbles]

of course theyre going to get bailed out, thats the communist way. american way.

downfall of the big 3 is the big unions.

[Deuce]

Originally Posted by losturmarbles

of course theyre going to get bailed out, thats the communist way. american way.

downfall of the big 3 is the big unions.

unions buried them

[Richkas]

Originally Posted by louisvillekid

Read an article in yesterdays business section about GM hemorrhaging cash and possibly having to file for chapter 11, and if they have to start liquidating and slashing prices(not that the industry as a hole have already been doing that), that it would pull the already struggling Ford and Dodge under with them.

what i'm curious about is, does anyone know how much of the US economy is tied directly or indirectly to the automotive industry?
Like an overall %
Cause i know here in Ky. we have a shitload of plants that make stuff for car manufactures, plus car making plants.

On a Sunday afternoon you want to know this? I am disappointed.

[applepicks]

In the scheme of things, one big automaker in the US will suffice. If all three were able to merge and only cut 1 to 2% of the workforce, and make it more streamlined, it would turn out to be a very succsessful company down the road. Inter-US competion is a thing of the past. Our automakers are against the foriegn car builders.
I don't know why the big 3 didn't follow the lead of the foriegners and put out the 10yr,100k warranties. When that happened, why would anyone want a 3yr,30k warranty?
When (not if) the goverment bails out the big 3, there better be some tight reins on how they spend that money. Because to continously pay 30/hr for something for the most part robots do nowadays is just ****ed up.

[Deuce]

Need to start charging for foreign imports like every other country in the world does.

[daggerkobe]

Originally Posted by Deuce

Are you fukking serious bro? Do you know how this economy works? Are you really aware what happens if something happened to the American companies? It's not 10% of jobs here in America, its probably close to 25%. Instead of a recession, it would be the "Greatest Depression". Do some research you ignorant schmuck before you open your cock suckers.

Typical clueless response from the clueless child.

There are currently around 150 Million employed workers in the US.... if the Big 3 were to go belly up, it would lose 2.5 Million workers. I'm sure even a nudnick like you can do basic math? What is 2.5 of 150? 25%? No..... try 1.67%. Bush lost close to 3 MILLION manufacturing jobs even before his first term was over, yet no outrage from you. I guess it finally hits home and now you give a damn.

Why should the Big 3 be given welfare while other unsuccessful ones go belly up on a daily basis????? You think handing them a blank check will make it any better? It's just a band-aid to a larger problem. The problem being they absolutely SUCK at what they do. They build inferior cars compared to their competitors, it's been this way for almost 3 decades. They will continue to bleed money, even after a bailout, because no one wants their cars. Well, except some misguided idiots like you.

And when's the last time GM, Ford or Chrysler turned a profit? The 90s? 80s? 70s? I can't even remember. Running a business is about PROFIT. Businesses that don't, go belly up.

And stop blaming the union for the sweet deal they got. It was the Big 3 who handed them out like Halloween candy while the going was good. Now they are stuck with their bad deal. No one to blame but the Big 3.

And before you continue to bash unions, you may want to look up what the working conditions in the US were before the forming of unions. You stupid fvck.

[daggerkobe]

Originally Posted by Deuce

Need to start charging for foreign imports like every other country in the world does.

When the "imports" are being built in plants located in the US by American workers with American parts?

You are seriously the most ignorant prick I have ever met. Congratulations.

[JBC77]

They should stop spending our f!@#ing money on these bailouts and you better believe the automakers are getting one.

This is how deranged and stupid these politicians are: even if they bail them out now, they are going to fail anyway later down the road. You cannot have union forklift drivers making $95K a year in a Ford factory. These overpriced union workers with there big a$$ pensions and health care costs have absolutely killed Ford and GM. There is no way you can compete with your employees costing you billions of dollars a year.

The've both been on the decline for the last 25 years. Toss in a decade long recession we're already in and it's lights out.

WE SHOULDN"T HAVE TO F!@$ING PAY FOR IT!!!!! THIS IS BULLSH1T AND PAULSON IS F!@#$ING CRIMINAL.

[daggerkobe]

Originally Posted by robzilla

I had a GM car and it was garbage. Everyone i know that has a GM car says thiers are garbage too.
I got a Honda and everyone that used to have a GM is getting a Toyota or a Honda.

Same here.

All our American cars were garbage. Imagine buying a new car and it stalling even before it hits 10,000 miles. Pretty much happened to all our cars.

Not to mention how awful their resale values are when you trade it in.

When I purchased my first Japanese car, an Acura, it was light years ahead of my previous car, a GM. No rattles, no windnoise, 30mpg (20 in the GM), not to mention 0 problems.

Every new car since then has been Japanese.

[purecarnagge]

The foreign car companies didn't make bad deals with unions like the big 3 did...thats why they are where they are...Now they are just on a level playing field...but I think its too late. Will they get bailed out yes, but I think its going to take a long time for them to actually post an annual profit.

[JBC77]

Originally Posted by purecarnagge

The foreign car companies didn't make bad deals with unions like the big 3 did...thats why they are where they are...Now they are just on a level playing field...but I think its too late. Will they get bailed out yes, but I think its going to take a long time for them to actually post an annual profit.

They are not going to post a profit with these union employees. Add in the fact that sales fell off a cliff. Down 45% just last moth.

Things are probably going to get a lot worse economically. All this money the treasury is creating is going to come back to haunt us. It's simple economics, the more money you print the less it's worth. A year or two down the road the dollar could be destroyed. It's been cleverly manipulated right now but it will impossible to sustain.

It's a shame that people aren't outraged at the fact we are bailing out companies. Now he have to pay the salaries and pensions and the health care of these union employees. It's unreal.