Ferrari Mailing List: Re: Motor City Christmas Card

[Mike Fleischer (themightytoe]

Would you buy a brand new car from a bankrupt or about to be bankrupt 
company?

Maybe if you had your own private mechanic and parts supply?  But Joe 
plumber doesn't and when he needs a truck for his business, he's going 
to buy a Toyota instead of that Silverado rather than wait for the CH 11 
proceedings to finish.

No car company has survived CH11.  It would not be restructuring, it 
would be liquidation, followed by the other car co's filing, followed by 
more liquidation, and some of the big 3's suppliers who can not just 
stop or reduce their production will also cease to be (like Getrag, or 
Bosch automotive) which will impact other manufacturers who likely would 
scoop up the remains.  At least 2.5 million jobs lost (some estimates 
are much much higher), 10% of the US economy gone.  Its a big mess, and 
a big deal.  What happens to the price of a Camry when most of its 
competitors drop out, and the supply of Camry's is the same?  Yikes...

Personally it makes me want to stock up on ammo just in case, and then 
I'd need to go buy a gun...

Here is a good read from the "liberal media"
http://www.nytimes.com/2008/11/24/opinion/24abraham.html?ref=opinion

BR,
Mike


Steve Jenkins wrote:
> As part-maker of the loan, I'm curious as to what is the collateral on the
> loan?
>
> I'm a fan of chapter 11 for the "big" three. It's doesn't mean they have to
> go out of business - it means they have to re-organize, they have greater
> ability to strong-arm the unions (don't get me started on unions - they were
> necessary "back in the day" but have far outlived their necessity) and they
> can restructure some of their debt. Airlines who've done it (United, Delta,
> NWA) are all still alive and kicking. Of course, it didn't work for Aloha
> Airlines - but staying in business is not the right of any organization,
> it's a privilege afforded it by its customers.
>
> SJ
>
> -----Original Message-----
> From: Lee S. Lingo [mailto:LeesCars [at] comcast.net] 
> Sent: Sunday, December 14, 2008 9:25 AM
> To: Steve Jenkins
> Cc: 'The FerrariList'
> Subject: Re: [Ferrari] Motor City Christmas Card
>
> Yeah, this has been floating around for a month or so.  It's unfortunate
> that it plays to the stereotype that the "Southern Senators" are claiming.
> Sen.'s Bob Corker (TN), Mitch McConnell (KY), Jim Bunning (KY) and Richard
> Shelby (AL) are some of the more outspoken leaders of the anti-American
> sentiment where it pertains to the automotive industry.
>
> I know that it's a lot of political posturing, but I find it unbelievable
> that they are pushing out the US Auto makers and feel that they are in no
> need of assistance just because they have some foreign auto manufacturer's
> in their state.  Those manufacturers, Toyota, Honda, Hyundai, Nissan and
> Mercedes-Benz chose those locations because of intense lobbying by those
> states and the subsidies in taxes and such.  Those five manufacturers all
> use parts vendors that also provide parts to the US auto makers.  If one or
> more of the US auto makers go down, their inability to pay their vendors
> will cause significant hardship, and most likely, closing of the vendors at
> least temporarily should sufficient credit be available which will in turn
> affect the foreign makers.  They're all tied together.
>
> And I'm sick to death of the term bailout being bandied back and forth.
> It's a bridge loan...
>
> Sorry Charles, but this issue REALLY gets my goat.
>
> Lee
>
> -----Original Message-----
> From: Charles Perry [mailto:charles [at] carolina-sound.com] 
> Sent: Sunday, December 14, 2008 11:20 AM
> To: Lee Lingo
> Cc: The FerrariList
> Subject: [Ferrari] Motor City Christmas Card
>
>
> Amusing, in a sad way...
>
> -- charles
>
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