Gotta love the small print!
Well, I've been very pleased with the American cars I've owned. And FWIW, ask yourself if the governments of some of the import manufacturers are giving them some aid (They are all down in sales, big time.)
This is not so much a problem with people not buying what are perceived to be crappy cars, but that the entire car market is way down. Who can be in good shape with a sudden 25% and more in sales? What is working against the Big three is that they had just spent billions in downsizing, and the UAW concessions had not kicked in yet (Billions in savings starting in 2010). Add the fact that the credit markets are tough, and they need money to continue operating until people get back to buying cars again.
Meantime, they are making many moves to save money, which will undoubtedly result in even more people not affording to buy cars.
Biggest problem is that people right now are scared to spend money. That causes fewer sales, more unemployment, and more people scared to spend money. Kind of abad cycle to get into.
So how long do they have to repay that loan. I got two years. What is their interest rate. Honestly thye will probably get every cent they want but its not going to solve the problem. Were throwing good money into bad companies. This will only slow the bleeding.Homer said it better than I could. Instead of blindly hammering the big 3, I wish some people would take a little time and look into what they have been doing in the last few years to correct their main labor issue's. Do an actual side-by-side of some of Toyota's vehicles and some of the comparably equipped domestics. Think about the fact that the transplants haven't been operating here long enough to have any substantial legacy costs.
The 80's are over, GM and Ford no longer try to cut cost by cutting quality. All of the big 3 make attractive small cars that get excellent fuel mileage. They also make the larger vehicles that many Americans wanted to drive, until gas prices were inflated by speculators.
Most of all, remember that they are asking for a loan. A loan that if the credit markets weren't completely screwed right now, they would most likely have been able to get through private channels. Unlike the bank bailout, were banks were handed money on a silver platter.
I dont care what other socialist nations do...
I just dont want to do it here....
I think many are just fed up with seeing how poorly the Big 3 have handled themselves, and now they are coming to us for help, and promising that now they will behave and follow good business practices. BUT, no one is willing to commit to any real changes at this time... give us some money, and we will get back to you on a comprehensive plan... um, maybe in March.
I also think that everyone agrees that the $700B bailout was an idiotic idea as well, no one is defending that decision either.
Is it true that laid off UAW workers get 95% of their normal pay?
If so, it sounds more like structured paid vacation.
The Parking brake had a design flaw. It was tied to the braking system so it was used every time I used the brakes.
The Tahoe must have had the rear brake shoes in constant contact with the drum or a fault in the cabling from the lever or something.
The EV1 (GM's first electric vehicle) was never sold, only leased. GM did this because replacement cost of the battery in the vehicle would have been almost as much as the cost of a new car. They shelved it until battery technology caught up with their vehicle design.
I am just sick of hearing people bash the big 3 as dinosaurs based on the last time they sat in one of their vehicles back in the early 80's when bean counters were running the show.
Sorry Sterling, but I take a little offense by this. I own a 2003 Cadillac CTS with 55,000 miles. I have spent $2000 in transmission repairs, $400 for a new thermostat and thermostat housing, $1000 for a new fuel pump, and $600 for new valve cover gaskets. AND the lens cover for the lights on the trunk lid fell off and costs $300 for a replacement. Because it's a cosmetic issue, I have not spent the money on that. All of this while being unemployed for the last year.
I am sick and tired of this piece of junk GM car and it's a freakin Cadillac. So I ask you not to lecture people who have damn good reason to bash companies who have been putting out inferior products for some time.
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