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Old 12-19-2008, 03:19 PM   #51
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WOW what a relief. I was a little concearned about our Camaro order. just the thought of driving a discustang which my son said would be his second choice. no offense to any ford fans
Discustang now that's funny
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Old 12-19-2008, 03:32 PM   #52
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ford gets a bad rap by GM loyalists and usually is the number 1 target of import drivers but they didn't ask for money upfront and are trying to resurface on their own accord without taxpayer dollars, that's pretty darn good on Ford's part and i'm proud of them for doing so :flag2:
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Old 12-19-2008, 03:33 PM   #53
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think this is true??

My thinking on this bailout. It certainly isnt a done deal as of yet for the auto industry--they have alot of work ahead of them. Butt i find alot of relief in the fact that i feel no matter what happens after march 31st--that preordereed camaros will in all likely hood be built. If it stands at 10.000 pre orders as some have said --thats alottttt of income.
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Old 12-19-2008, 03:43 PM   #54
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Forget it Georgie, it's not about what's in the best interest of the country for most of the folks on this site, but whether or not their Camaro will be produced/delivered. It's that kind of short-sighted, me-first, attitude that has put us in the financial pickle we find ourselves in today.

I can only hope that GM puts the money to good use and is not back with their hand out again in 3 months.
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Old 12-19-2008, 04:11 PM   #55
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Put it to good use and don't let us down.
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Old 12-19-2008, 04:55 PM   #56
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Originally Posted by Georgie View Post
ford gets a bad rap by GM loyalists and usually is the number 1 target of import drivers but they didn't ask for money upfront and are trying to resurface on their own accord without taxpayer dollars, that's pretty darn good on Ford's part and i'm proud of them for doing so :flag2:
Allan Mullaly had the forsight to refinance and pull equity out of the company and create more liquid cash shortly after he took over from Bill Ford Jr. He obviously didn't forsee this situation, but nonetheless it was a shrewd move on his part hindsight being 20/20.
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Old 12-19-2008, 05:00 PM   #57
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all i can say is that it took them long enough.
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Old 12-19-2008, 05:19 PM   #58
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Forget it Georgie, it's not about what's in the best interest of the country for most of the folks on this site, but whether or not their Camaro will be produced/delivered. It's that kind of short-sighted, me-first, attitude that has put us in the financial pickle we find ourselves in today.
I can only hope that GM puts the money to good use and is not back with their hand out again in 3 months.

Well spoken! Sad, but true! I have had numerous sales call asking me if GM goes bankrupt, would there be more rebates and savings. I can't believe how selfish some people in this great country are.
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Old 12-19-2008, 05:19 PM   #59
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No kidding, those CEOs had to feel the noose beginning to tighten after congress walked away from them. I know I was worried.
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Old 12-19-2008, 05:30 PM   #60
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GM will not go under. The required concessions that are part of the Bush Administration loan will force the union to the table, as well as management to reform their practices and all should begin to get better, hopefully! Regardless, this car is their bread & butter for the future, and they have way too much development cost wrapped up in it to do anything but push forward.
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Old 12-19-2008, 05:34 PM   #61
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Old 12-19-2008, 06:35 PM   #62
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Well thanks for the Christmas present, President Bush!!

I think I'm going out to eat lunch tomorrow just to celebrate.
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Old 12-19-2008, 06:45 PM   #63
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UAW needs to back away from the feed trough and make a few concessions.
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Old 12-19-2008, 07:19 PM   #64
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Yes, my GM stock might go up now!!!!
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Old 12-19-2008, 07:26 PM   #65
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Quote:
Originally Posted by CWIweldace View Post
UAW needs to back away from the feed trough and make a few concessions.
I would expect the UAW to realize that it has been overcompensated in the coming months with so much pressure coming from all sides. The job of unions has always been to protect worker rights. Their rights are still protected if they get paid what the other companies pay.
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Old 12-19-2008, 07:31 PM   #66
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Yes, my GM stock might go up now!!!!
If it does, it will be a dead cat bounce. Part of the agreement states that 2/3rds of the debt be converted to common stock. Can you say dilution?
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Old 12-19-2008, 07:33 PM   #67
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It closed up at $4.49 a share, up from yesterdays close of $3.66, too bad I bought at $5.99, and flat out missed the $1.70 a share price back on November 20th...

Good news either way, won't have to stress as much about my Camaro not being made, can't afford for any more hair to fall out I'm runnin low lol
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Old 12-19-2008, 08:10 PM   #68
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I listen to financial people on news radio pretty frequently, and the general consensus with them seems to be that this money is just a bandaid, and that it doesn't fix the overall/biggest problem GM has, which is the high salary they pay the employees. A company that pays its employees an average of $73 an hour can't compete with companies like Nissan and Toyota who average around $42 an hour. While I know the "financial professionals" are not always correct, this does seem like a valid argument.

http://www.heritage.org/Research/economy/wm2162.cfm
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Old 12-19-2008, 09:58 PM   #69
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I'm holding any celebrate until the "Federal Car Czar" starts giving orders.

"Federal Car Czar" can't be a good thing.
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Old 12-19-2008, 10:36 PM   #70
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I think the unions and management should be the least of our concerns, right now...

Worry about government scrutiny. GM and Chrysler have no more than 3 months to enact all their final turnaround plans. And the government, the same people who decided to fork over 700 billion to a black hole of corruption, will be the ones that will decide whether or not the Big Three are "viable".

Essentially, as of this announcement; GM's life is in the government's hands.:(
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Old 12-19-2008, 10:50 PM   #71
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Essentially, as of this announcement; GM's life is in the government's hands.:(
Gm's life should be in their own hands not the government.
Meaning: they got themself in this mess & need to find their way out of it.
That goes for all the "Big Shots" with their big expense accounts, private jets,
outrageous hotel suites, limos & endless list of waste of $$$.
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Old 12-19-2008, 10:51 PM   #72
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Quote:
Originally Posted by Georgie View Post
ford gets a bad rap by GM loyalists and usually is the number 1 target of import drivers but they didn't ask for money upfront and are trying to resurface on their own accord without taxpayer dollars, that's pretty darn good on Ford's part and i'm proud of them for doing so :flag2:
Yep.
It can be argued who took the "smart route". But Ford hasn't poured much money into risky vehicles...like the Volt. 700 million dollars into that project...that could have been 700 million saved, you know? Or...it was 700 million put into the future of cars as we know it. Who knows?
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Old 12-19-2008, 11:08 PM   #73
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Tomorrow is Canada's turn. Oshawa gets some billions up here too.
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Old 12-19-2008, 11:11 PM   #74
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Quote:
Originally Posted by Georgie View Post
ford gets a bad rap by GM loyalists and usually is the number 1 target of import drivers but they didn't ask for money upfront and are trying to resurface on their own accord without taxpayer dollars, that's pretty darn good on Ford's part and i'm proud of them for doing so :flag2:
The only reason Ford has enough money right now is because they mortgaged practically everything they had.
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Old 12-19-2008, 11:15 PM   #75
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Originally Posted by Dragoneye View Post
I think the unions and management should be the least of our concerns, right now...

Worry about government scrutiny. GM and Chrysler have no more than 3 months to enact all their final turnaround plans. And the government, the same people who decided to fork over 700 billion to a black hole of corruption, will be the ones that will decide whether or not the Big Three are "viable".

Essentially, as of this announcement; GM's life is in the government's hands.:(
I COULDNT have said it better!!
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