Buick being cancelled is unlikely due to its success in China. GM is committed to GMC, so there is no way they are getting rid of it. Saturn is under review right now, and proably won’t continue. (it really doesn’t make sense. Pontiac is being downsized into niche brand. (think corvette) Saab….well that will probably be gone soon, same for HUMMER. Cadillac and Chevy will always be there though.

They already negotiated contracts putting laborers in line with foreign competitors, so that is a nill point.

Forgot about Olds…yes I have read the UAW contract…still not good enough top compete with the Asian Manufacturers.

And bankruptcy is not exactly an experiment. Chrysler was in quasi bankruptcy in teh late 70′s and after reorg, emerged stronger and under Lee Iococa introduced K-cars and started the mini-van craze.

We now have a new mission. Instead of K-cars and mini vans, we need energy efficient and alternative fuel cars. No matter how you look at it…bankruptcy type of reorgs need to take place. Whether you call it bankruptcy or a bail-out…the same implemtation strategies need to take place. And that will include lay-offs, torn up UAW contracts and a contraction of a fat Detroit.

Have you read the new UAW contract that goes into effect in 2010? It’s not a bad agreement. I do think the UAW should make it effective a year earlier to do their share to help out the Detroit 3, but they’ll have their share of blame if they do fail.

I hear what your saying but this isn’t a black and white issue and I would hate to see an experiment of what happens to an automaker when they go into bankruptcy. Yeah you can talk about all the other companies and industries that have gone through the process, but your talking about a long term purchase that you have to live with for a anywhere from 3 to 15+ years not a 4 hour flight across country or a long distance phone call. Also with the credit squeeze if they go into bankruptcy most if not all of the financing would be coming from the federal goverment so why not give them the money but with conditions similar to bankruptcy, but without the stigma?

It’s time to re-work the insane, rip-offs that are the UAW contracts. It’s time to cut the entitlement programs to laid off workers. It’s time to re-organize and compete dollar for dollar with the Japanese. If that happens…good by imports and hello the great American dream machine all over again.

I laugh everytime I hear that Americans would not trust a company that files for bankruptcy again. We are so immune to bankruptcy. Many companies have had financial troubles, …AT&T, AOLTime Warner, Clear Channel, and many of the airlines. Listen folks, we will always need cars…we will always feel the propensity to shout USA…USA…USA when we are feeling a bit vulnerable. Bankrupcy will help folks. Feeding the fat cat addiction will not.

I also bust a gut when I hear that somehow bankruptcy will cause a trickle down of disaster. I actually heard the Pelosi camp say that possible bankruptcy will affect the parts suppliers, mechanics, Autozone, Kragen and Pep Boys of the world. Who gave her that bit of nitwit thinking?

Folks, let’s say the auto manufcaturers decide to stop production for a year…Auto Zone and mechanics should be jumping for joy. The minute a car gets driven off of a car lot, it begins its gradual breakdown…the older cars get, the more parts, service, and repairs are needed. This will be a huge boom for this industry. If there is bankruptcy, buy Autozone stock.

Bankruptcy will cost America jobs for sure…Yes, there will be lay-offs…but that needs to happen anyway, bankruptcy or not, because Detroit is way too fat. I would hope that the Government is demanding a leaner, meaner Detroit before they lend money…As it stands right now, lending the Big 3 money is like letting a dog guard a room full of food.

Action needs to be taken… GM needs to discontinue Pontiac, Buick, Oldsmobile and GMC and concentrate on Chevy, Saturn and Cadilac. Ford needs to whack Lincoln/Mercury and just be Ford and Chrysler needs to hang it up or just concentrate on trucks …What a terrible company.

So Mr. Lame Duck Prez, stay in Iraq as long as you like…Stay for the holidays. Bagdad is beautiful this time of year. It would be your best political move of your very mediocre time in office.

PM

Meanwhile, 50% of all loans in 2006 were interest only or Option Arms that deferred interest and added that interest to the principal of the loan. The reason that values of homes are dropping are because homeowners are defaulting on their mortages because of a combination of rate adjustments and the fact that many newer homeowners never had to prove their income and bought homes with no money down. In other words they bought way above their means, and bet that market appreciation would go on forever and turn their houses into money machines. Of course that didn’t happen, people realized that they couldn’t afford their mortgages and banks are foreclosing and then selling the homes in their REO departments for a huge discount to a new wave of homeowners that have a job, income and can document that with the proper documentation. That value depreciation is causing innocent people in neighborhoods across the country to have shrinking and even neagative equity in their homes….which negates using the home for college tuition, large purchases, and other uses that a Home Equity Line of Credit were traditionally used for.

Your argument that gas caused this mess is messed up logic. Most put their gas on credit cards. Now given a choice, do you really think that people would choose credit cards over a house mortgage? No they couldn’t pay their mortgage because they couldn’t afford it to begin with. Their American Dream turned into an American nightmare.