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Detroit Three executives



 
 
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  #21  
Old November 26th 08, 12:40 AM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
Tim[_16_]
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Posts: 63
Default Detroit Three executives

HLS wrote:
>
> "Tim" > wrote in message news:57561$492c5f44$cef8ac46
>
>> Maybe you should phone the president and let him know. You would have
>> saved the country $800 Billion in additional money that they are going
>> to use to unfreeze the credit market.
>> Tell the president there isn't a problem because your daughter just
>> got a loan.

>
> If you would read the post, you would realize I posted nothing about my
> daughter.
>
> The two posts are intermingled. Get your head out of your ass.
>
> The credit market here in the midwest is not as bad as in other areas..
> That is
> a fact, at this point.



OK, sorry about the comment about your daughter.

That being said, I really wonder how you would know that? Is it from the
newspapers or how?
Ads
  #22  
Old November 26th 08, 12:41 AM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
Ted Mittelstaedt
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Posts: 696
Default Detroit Three executives


"HLS" > wrote in message
...
>
> "Tim" > wrote in message news:a3654$492b3204$cef8ac46
> > How many times has Paulson changed his mind about what he is going to

do?
> > The reason they need the loan is obvious. There is a credit freeze
> > caused by the banks.
> > The companies have other problems but this is what has caused them to go
> > to the government for loans at this time.

>
>
> It makes no difference. At this time, Paulsen is the "bull goose".
>
> EVERYBODY has credit problems. The problems exceed the money even on
> a national basis.
>


What is a "credit problem?"

In the "olden days" companies that ran cyclical seasons had things they
called
"cash reserves" They would scoop out a chunk of money from the cash
reserve,
fund whatever operation from it, and the cash reserve would then be replaced
by scooping it out of the profits of that operation.

Companies could make a little money off interest on this reserve, or make a
bit more
loaning it to other companies if they had extra.

Then 10-15 years ago the eastern bankers convinced a lot of those companies
that somehow it was better business to run with NO cash reserve, and
whenever
they needed money for some operation, to scoop the money out of the bank
and pay the bankers interest on it, then when the profits came from whatever
operation, they would scoop even more money out of the profits of their
operation
to pay back the bankers.

Frankly, my fervent hope is that credit is NOT EVER unfrozen, not at least
for
many, many years. I would like to see all the companies that fell for that
bankers
line of **** to go out of business. Not all companies fell for this and
squandered
away their cash reserves.

Banks need to get back into the business of making money by paying out 2%
on passbook checking and savings accounts, and charging 4% on 30-year
fixed mortgages. With the volumes of money the banks make, a 2 point spread

on just doing this only would make all of them many, many billions of
dollars
of profit.

Ted


  #23  
Old November 26th 08, 12:42 AM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
Bill Putney
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Posts: 2,410
Default Detroit Three executives

HLS wrote:
>
>> Outrageous compensation packages, I can agree with - folks in suits wo do
>> nothing all day, I can't. It only shows how little you really understand
>> about the various aspects of a business organization.

>
> A lot of corporations have some deadwood at the top. It is apparently
> unpopular
> to dismiss people at this level for a number of reasons.
>
> I have seen suited thieves who were not fired, but were transferred
> sideways to another
> "opportunity".


....a place where they can do the least amount of damage.

> The Peter principle is alive and well.


The lateral arabesque (a rather elegant descriptive name coined by Dr.
Laurence J. Peter).

--
Bill Putney
(To reply by e-mail, replace the last letter of the alphabet in my
address with the letter 'x')
  #24  
Old November 26th 08, 01:36 AM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
HLS
external usenet poster
 
Posts: 1,418
Default Detroit Three executives


"Tim" > wrote in message news:cfee2$492c8ced$cef8ac46> OK,
sorry about the comment about your daughter.
>
> That being said, I really wonder how you would know that? Is it from the
> newspapers or how?


Time Magazine, yesterday at the doctor's office.

Housing in this part of Texas continues to move, and people are still
flipping in Austin
and other desirable markets.

  #25  
Old November 26th 08, 01:54 AM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
Tim[_16_]
external usenet poster
 
Posts: 63
Default Detroit Three executives

HLS wrote:
>
> "Tim" > wrote in message news:cfee2$492c8ced$cef8ac46>
> OK, sorry about the comment about your daughter.
>>
>> That being said, I really wonder how you would know that? Is it from
>> the newspapers or how?

>
> Time Magazine, yesterday at the doctor's office.
>
> Housing in this part of Texas continues to move, and people are still
> flipping in Austin
> and other desirable markets.


Here in Canada our banks are in good shape, our car sales are too.
Retail surprisingly good.
The banks won't lend money to the car dealerships. Now how can that be
in Canada, where there is no real recession yet but not Austin?
  #26  
Old November 26th 08, 02:34 AM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
HLS
external usenet poster
 
Posts: 1,418
Default Detroit Three executives


"Tim" > wrote in message news:c7b94$492c9e30$cef8ac46
> Here in Canada our banks are in good shape, our car sales are too. Retail
> surprisingly good.
> The banks won't lend money to the car dealerships. Now how can that be in
> Canada, where there is no real recession yet but not Austin?


We are wondering that too... Certain areas like Austin are high level,
relatively
low cost (compared to other areas in the USA) areas. Lots of people with
money
move to the "Hill Country" of Texas.

There is money to be had, if you have a decent credit history.

Floor plan loans are another deal...GM has provided this service in the
past, I believe,
just so that dealerships can keep products on display. It was relatively
cheap.

Car loans to the consumer are a different subject. Certainly not every Tom,
Dick, and Harry
can walk in and get a top of the line car for nothing down and no credit
history. But, we
are not hard hit here in Texas at the moment. Are holding our breath,
waiting for the other
shoe to drop.

  #27  
Old November 29th 08, 04:18 PM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
man of machines
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Posts: 185
Default Detroit Three executives

why were they required to have a plan for loans and fannie may and freddie
mac and aig had no plans or guide lines and were GIVEN the money???????????

Tim wrote:

> I wouldn't blame the Detroit Three executives. They were as well
> prepared as Paulson was. Why would they expect more detailed answers and
> plans were needed?


  #28  
Old November 29th 08, 05:00 PM posted to alt.autos.gm,alt.autos.ford,rec.autos.makers.chrysler
Gosi
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Posts: 66
Default Detroit Three executives

On Nov 29, 3:18*pm, man of machines > wrote:
> why were they required to have a plan for loans and fannie may and freddie
> mac and aig had no plans or guide lines and were GIVEN the money???????????
>
> Tim wrote:
> > I wouldn't blame the Detroit Three executives. They were as well
> > prepared as Paulson was. Why would they expect more detailed answers and
> > plans were needed?


They basically took over the loans for the houses in the case of
fannie and freddie.
No more really bad loans issued and everything put on hold.

It would be possible to do the same for GM and friends.
Take over all the loans on cars and stop producing more crap.
It is basically what will happen anyway.
 




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