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Let GM and Chrysler go bankrupt, Americans say
Let GM and Chrysler go bankrupt, Americans say
http://tinyurl.com/djc427 Most of those surveyed say they would rather the automakers fall into bankruptcy than get more bailout cash. By Catherine Clifford, CNNMoney.com staff writer Last Updated: April 9, 2009: 4:14 PM ET NEW YORK (CNNMoney.com) -- Americans are fed up with the Detroit drama. Three out of four Americans would rather see General Motors (GM, Fortune 500) and Chrysler face bankruptcy than watch the government pour yet another round of bailout cash into the big U.S. automakers, according to a CNN/Opinion Research poll released Thursday. While 76% of survey respondents want to see the automakers face bankruptcy, 22% are willing to prop them up with more bailout cash, according to the poll, which surveyed 1,000 Americans from April 3-5. While GM still hopes to avoid going bankrupt, preparations for a bankruptcy filing have become "intense and earnest" at the Detroit giant, according to a source familiar with the company's plans. Americans are more divided on the Obama administration's increased involvement in the way businesses and financial institutions are run. According to the survey, which has margin of error of plus or minus 3%, 42% of Americans think the Obama administration has done what it should, while 23% think the government ought to have even more oversight powers. But 35% of respondents say the government has gone too far. One of the reasons Americans are willing to let the Big Three head into bankruptcy is that many don't see Detroit's woes significantly affecting the national economy. Of those surveyed, 44% said auto bankruptcies would only cause "minor problems" for the U.S. economy. That's an increase from December's poll results, when 28% of those questioned said the bankruptcy effects would be minor. (For more on Detroit's ripple effects, see "Auto bankruptcy: What it means") But only 37% of those surveyed in April thought a Detroit bankruptcy would cause "major problems" for the U.S. economy, down from 51% of those polled in December. More than half of Americans think that a Detroit bankruptcy would have no impact on their personal financial situation. If a major manufacturer does fall into bankruptcy, government guarantees on their warranties could prove critical to maintaining consumer demand for their inventory of cars. The CNN/Opinion Research pollsters divided their respondent pool in half, asking one group about their willingness to buy a car from a bankrupt auto company. Almost half of those asked - 47% - said they were "not likely at all" to do so, and only 12% said they were "very likely" to buy from a bankrupt company. But when researchers asked the other half of their survey pool about buying a car from a bankrupt auto maker, they asked how likely the respondent would be to buy if they knew the government would stand behind the warranty on the car. Among those respondents, the "very likely" to buy response rate doubled, to 24%, while the "not likely at all" response declined to 27%. President Barack Obama said late last month that the federal government would stand behind the warranties on all purchases of GM and Chrysler vehicles going forward. Analysts are waiting to see how much the moves pump up sales. -- Civis Romanus Sum |
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Let GM and Chrysler go bankrupt, Americans say
Funny how the way that kind of thing is reported reveals the beliefs and
politics of the author or publisher (and/or the entity sponsoring/paying for the poll). Since the poll takers see fit to educate the respondents with the particular information they want them to have (IOW biasing the results to a conclusion they want the poll to favor), which again can reveal a bias in whoever is doing - or paying for - the poll, I can't help but wonder how the results would have changed if they informed them that (a) bankruptcy does not mean that the company just closes it's doors and sends everyone home - it gives them an opportunity to stream line and restructure debt, and (b) it allows them to start with a clean slate on what now are unsustainable union agreements so that they can start paying and offering benefits more in line with other wage earners for the work being performed. -- Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x') |
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Let GM and Chrysler go bankrupt, Americans say
If the USA brands of GM and Chrysler end up going away, the typical USA
new car buyer will not be inconvenienced in any way. Therefore, why should their tax dollars be used to save something they see as "not necessary to continue my life". When Zenith, Motorola, General Electric, Magnavox, and others stopped manufacturing televisions, it didn't stop consumers from buying televisions, they just bought Sonys and such instead. Same thing with cars. If they can't buy a new Chrysler, they'll buy a Nissan, KIA, or Hyundai, for example. No inconvenience to the consumer who simply buys another brand of transportation appliance. Part of this negativity could be the result of prior dealership experiences (of the poll respondents or some of their friends/associates) in the past. If the local franchised dealer is the local "face" of the manufacturer, if the consumer has a poor experience there, it hurts the reputation of the manufacturer plus that of the local dealer. Likewise, a good dealer and their employees who takes very good care of their customers can reflect positively upon the manufacturer. Regards, C-BODY |
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Let GM and Chrysler go bankrupt, Americans say
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Let GM and Chrysler go bankrupt, Americans say
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Let GM and Chrysler go bankrupt, Americans say
Miles wrote:
> wrote: >> If the USA brands of GM and Chrysler end up going away, the typical USA >> new car buyer will not be inconvenienced in any way. Therefore, why >> should their tax dollars be used to save something they see as "not >> necessary to continue my life". > > They should go bankrupt. That does NOT mean going out of business. GM > and Chrysler have huge market value. They're not going to do away with > the brand names. They should reorganize under bankruptcy and come back > strong without bankrupting the American consumer through bailouts. Exactly. But that's what "they" don't want people to realize. They want us to equate bankruptcy to closing the doors and sending everyone home, which it isn't. Bankruptcy would also go a long way towards getting the manufacturers out from under business-killing union agreements. But the people in control are beholden to the unions to the extent that, using your words, "bankrupting the American consumer through bailouts" is preferred. -- Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x') |
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Let GM and Chrysler go bankrupt, Americans say
> > Same thing with cars. If they can't buy a new Chrysler, they'll buy a > Nissan, KIA, or Hyundai, for example. No, THIS one would buy a Ford. |
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Let GM and Chrysler go bankrupt, Americans say
Bill Putney wrote:
> Miles wrote: >> wrote: >>> If the USA brands of GM and Chrysler end up going away, the typical USA >>> new car buyer will not be inconvenienced in any way. Therefore, why >>> should their tax dollars be used to save something they see as "not >>> necessary to continue my life". >> >> They should go bankrupt. That does NOT mean going out of business. >> GM and Chrysler have huge market value. They're not going to do away >> with the brand names. They should reorganize under bankruptcy and >> come back strong without bankrupting the American consumer through >> bailouts. > > Exactly. But that's what "they" don't want people to realize. They > want us to equate bankruptcy to closing the doors and sending everyone > home, which it isn't. "They" being the politicians who favor government intervention in everything... :-/ |
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Let GM and Chrysler go bankrupt, Americans say
In article >,
Steve > wrote: > > > > Same thing with cars. If they can't buy a new Chrysler, they'll buy a > > Nissan, KIA, or Hyundai, for example. > > No, THIS one would buy a Ford. Yes Ford would be on my short list, as well as VW; well ahead of the Asian brands. |
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