If the Big 3 actually made decent cars for the past 15 years, they wouldn't be in this mess.

Instead, their fuel sucking SUV's financed the union make-work project that was building fleets of shitty Malibu's and other rental fleet beaters. GM should have killed Oldsmobile and Pontiac years ago, same with Ford & Mercury. Instead, they clung to the delusion that there was brand loyalty even though their cars were shit.

Don't get me wrong, GM, Ford and Chrysler all make some decent cars, their problem is they make too many shitcars that nobody wants.

GM had a great opportunity to take advantage of Opel and their small cars for years, yet each time they tried to bring them to the US or make the same designs in the US they fucked it up. Same with Ford. The european Focus has been great, but the North American built one has been crap.

[/end rant]

Having said all that, I think that the bailout should go ahead, but with huge restructuring requirements and sound business plans attached.

___________________
Paul

quote:

Originally posted by Groundhog Boy Yeah, because they have zero assets that can be liquidated.

Oh, right forgot, returns of .05 cent's on the dollar isn't a bad deal.

quote:

Originally posted by Groundhog Boy Yeah, because they have zero assets that can be liquidated.

Oh, right forgot, returns of .05 cent's on the dollar isn't a bad deal.

These companies don't have any inventory, thier machinery is worth little to anyone not making cars, and thier intelectual property is worthless.

Good will of the brand names... yeah right!