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Looking at this from an economic perspective....incredible.

Discussion in 'Sports and News' started by printdust, Jul 18, 2010.

  1. printdust

    printdust New Member


    Just plain ignorant, it seems, if no one knew that before hand.
  2. lesboulez

    lesboulez Member

    if the cars are worth buying in the first place, this wouldn't have been necessary...

    i always think of this dealership near bethel, nc. it was new and out in the middle of nowhere (like bethel, nc is). but, when it went out of business, either by the final nail in the coffin by the govt or by basic economics, they were able to leave the electronic sign on for months afterwards with the message "Obama, where's out buyout?"

    i always wondered...why open a car dealership in the middle of nowhere? where was the bank on that business plan?
  3. mustangj17

    mustangj17 Active Member

    You forget that the cars were worth buying but they couldn't sell them because no one had access to credit because the banking industry shit the bed.
  4. Beef03

    Beef03 Active Member

    "Obama administration officials said they strongly disagreed with the findings and said the audit focused solely on one element of a painful restructuring. Without the shared sacrifices of workers, dealers, retirees, suppliers and creditors, they said, the companies may not have rebounded."

    The companies have rebounded?
  5. Flying Headbutt

    Flying Headbutt Moderator Staff Member

    Ford is in the midst of a rebound. And car buying has generally been up. Argue all you want about why that may be, but the fact is people have bought cars recently.
  6. Beef03

    Beef03 Active Member

    Except I don't think Ford never took the bailout. The quote is about GM and Chrysler specifically. To be honest I am specifically questioning the thought that Chrysler has really rebounded.
  7. Boom_70

    Boom_70 Well-Known Member

    The article does not seem to support your thread heading.

    Personally I believe in a free market economy companies should go out of business rather than being kept on life support.

    Maybe they should apply this same study to our National security agencies:

    The investigation's other findings include:


    * Some 1,271 government organizations and 1,931 private companies work on programs related to counterterrorism, homeland security and intelligence in about 10,000 locations across the United States.

    * An estimated 854,000 people, nearly 1.5 times as many people as live in Washington, D.C., hold top-secret security clearances.

    * In Washington and the surrounding area, 33 building complexes for top-secret intelligence work are under construction or have been built since September 2001. Together they occupy the equivalent of almost three Pentagons or 22 U.S. Capitol buildings - about 17 million square feet of space.
  8. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    Thanks for the link, Yawn.
  9. Armchair_QB

    Armchair_QB Well-Known Member

    Ford did not take part in the bailout.

    Reporting at the time indicated they were on track to come out of the downturn as the strongest of the Big 3 because they didn't take part.
  10. Pancamo

    Pancamo Active Member

    That's bullshit. The "credit crunch" didn't stop people with good credit from buying cars. The credit crunch that was on the news on a daily basis pertained to banks and the overnight lending capacity that was diminished because the assets leveraged dropped in value.
  11. deskslave

    deskslave Active Member

    But surely the existence of a bailout helped Ford in some ways. It probably hurt them in that a competitor would have otherwise been wiped out, but it would have helped them as well. Car buyers could, for example, be assured that the government would step in if ever Ford were to get in trouble.

    And frankly, I'm pretty sure that the government should have been ignoring whatever Chrysler and GM suggested. To allow them to come up with their own survival plan seems a bit like allowing the captain of a sunken ship to build his own lifeboat.
  12. Armchair_QB

    Armchair_QB Well-Known Member

    Ford proved you don't need a government handout in order to survive. So no, I don't see how the government can take credit for that.
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