Thursday, November 11, 2010

Why is Chrysler sitting at the free money trough with Ford and GM?

Question 1
Why is Chrysler sitting at the free money trough with Ford and GM?...  Ford and GM are publicly traded companies and their stock is subject to impact average Americans and their retirement plans. I don't agree with a bail out, but I see why they are at the table begging. I can't believe no Senator or Representative in either of these trips to Washington asked Chrysler why they were there also. They are a private firm held by a private company that has plenty of money. If they need money shouldn't they just ask the parent company for it? Are we really going to give a few billion dollars to a hand full of guys that already have a few billion dollars in the bank?

1)   Big Corporations have discovered a new way to make profits by getting Hand Outs from the Federal Government.

You see, the Government will give you money if you simply meet a few qualifications on paper. Many people believe that when you get ASSISTANCE from the Government it's because your in NEED of that assistance. This is false. You can get plenty of FREE MONEY from the Government if you simply find out the tricks/steps to receiving it.

A lot of people simply take hand outs rather than WORK for their money. Now, big corporations have decided to get in on the handouts.

Welcome to the New America. The Let's all Live off the Government America. - Mark

2)   Ford didn't get bailed out. GM and Chrysler got bailed out because the US cant afford to let another entire industry disappear. We used to make a lot of stuff that is gone now like electronics. A country cant survive as a service economy. We did it because we need to have jobs in our country.

The Germans bailed out their auto industry and so did Japan. Both of their governments heavily fund their companies even in the good times. - emiller1998

3)   Yeah, the big 3 have the govt buffaloed.

All 3 are cash strapped. Chrysler is a fairly new company that is privately held and does not have the backing of a huge number of stockholders. Daimler still holds 20% of Chrysler, but Daimler is not interested in putting any more money into the company. Chrysler's intent is to eventually buy out Daimler.

But Ford and GM need Chrysler to keep out of monopolistic charges. For example, if there were only 2, and one of them did not offer a specific product, the other company could claim monopolistic practices and the lawyers would get rich at our expense. Back in the '60s, GM financed Chrysler's greater warranty program in order to keep Chrysler afloat.

If the car makers were smart, they would crank out a high quality model and private lable it to the other car makers. Like Toyota Matrix does for the Pontiac Vibe. Why should each company produce very similar models? All cars are going to look virtually alike because fuel economy dictates a shape that moves through air efficiently. - Doreen

4)   The way they ended up with money was to sit around in nice suits and convince other people to let them use their money. It’s called using other People’s Money, or OPM. In that business you never leave any cash on the table. Other People’s Cash. If legislators are dumb enough to stack the thousand dollar bills to the ceiling, no Wall Street type is going to leave a dollar on the table.

And they don’t have that much money either. You see money is *all* they have. Once that is gone the show is over. No more yachts and cigars. And if you publicly blow all your money on a bad investment, the OP are somewhat reluctant to let you manage any more of their M. - Rowena

5)   management of these companies without restrictions who screwed up and, in the case of Bank of America, won't give a loan to that company where the employees are picketing. And all of those bonuses and golden parachutes that are being paid to those executives with our money. Who is protesting against that? Not enough people that I can see. But I do believe this feeling against the Big 3 is a backlash.

The loan (not bailout) is being given to the Big 3 so that our last manufacturing base in this country (thanks to the Bush administration) does not go under. Manufacturing cars has always been a tremendous industry in our country, and in WWII the assembly lines converted to war production and helped us win the war. This is a gift to main street, the hourly guy who breaks his back everyday for maybe $28 per hour (not the $72 talked about). If we allow them to go belly up, there are about 3 millions jobs across the U.S. that will go under because they are small businesses that get their income from the auto industry. You are talking of crippling Michigan, Indiana and Ohio. This will tip us over into a real Depression. This is a lot like locking the barn after the horse has run away. You think things are bad now, just let the Big 3 go under.

I admit that the public is disgusted with the previous bailouts, but the emphasis on punsihing the Big 3 for the others, is unfair. The automobile companies are guilty in the past of riding the gravy train, but so was everyone else, the American public for instance. How much have you charged to credit cards? Can you pay your mortgage? Let's get real.

I come from Michigan and know how much the Big 3 supports the Mid-west. My family is still there and things are so bad now with layoffs that there are a rash of home robberies going on now. People are afraid that if the Big 3 goes down, the state will become a welfare state and crime will become rampant.

But, as I said, this loan affects main street, not corporate executives, and we have enough people floudering because of the home failures, let alone adding a 3 million job loss to the burden that Obama will take over in January.

To put things in perspective, Bush just bought a $2 million house in Dallas where he will reside after his presidency. He gets us in two wars, bankrupts the surplus, in debt to China, and leaves us with a near disaster of an economy. Why isn't anyone angry about that?

It's smart business to save the Big 3, and it's a loan people not a bailout. - Fido Steik

6)   At the moment, GM isn't publicly traded, though a stock offering was announced this week and will presumably take place shortly.

Ford wasn't bailed out, though they did borrow a relatively small sum for development of "green" vehicles. (Ford stock, which had dropped into the $2 range, is now selling around $16.)

And Chrysler was in straits as dire as GM's; they went through a similar bankruptcy process. The majority of Chrysler stock today is held by the UAW's Voluntary Employee Beneficiary Association, set up to cover benefits formerly paid by the automakers to UAW members. Fiat owns 20 percent and will eventually, I think, take majority control; they're already calling the shots in the boardroom. - Windowphobe

7)   The automobile industry in America is absolutely huge. I can't tell you why the CEOs decided to ask for a bailout, but I can tell you that we've got to do it. There are way too many possible seriously negative outcomes if we don't bail them out. I understand that we're going to have some hefty governmental oversight of their businesses after the money is received. I'm furious at all the wealth some of the car manufacturer CEOs and higher management have socked away. If they had been saving some of that excess money they wouldn't need a bailout. Mis-management for sure, among other things.

Not to mention disgusting that they showed up for their first go-round at asking for a bailout in private company jets. What nerve! - caviness

8)   From the Wall Street Journal:

Lawmakers last week questioned Chrysler Chief Executive Robert Nardelli on Cerberus's commitment to the company. In one exchange with Mr. Nardelli, Sen. Robert Corker (R., Tenn.) criticized the firm. "Cerberus has cash, lots of cash, that it is unwilling to put into this company," Sen. Corker said.

I'm not sure if Senator Corker was the only one to actually ask the question (I was at work, and am relying on media reports), but plenty of others are objecting to Chrysler getting money. In fact, it's bipartisan opposition:

If the Senate fails to pass a measure to aid the industry, the House will not act.

That would be fine with Rep. Steve Kagen, D-Appleton. He opposes providing money to Chrysler, which is owned by Cerberus Capital Management LP.

Admittedly, Rep. Kagen's opposition sounds personal: Another of Cerberus' companies closed paper mills in his district, but refuses to sell the facilities to investors who want to have a go at running them. But he's urged other Members of Congress not to give Chrysler any money at all.

It looks like there are Congresscritters who support giving GM and Ford help that object to giving Chrysler help. Whether they're enough to change the outcome remains to be seen. - engage

_____ powerd by Yahoo!Answers ________
_____ Brought to yo by :

Question 2
why does the U.S use the imperial system?...  

1)   US uses US not imperial.
1 imperial ounce = .96 US ounces - TazT

2)   We just like it and we know it and that is that. - Visualize Whirled Peas

3)   Back in about the 60's, The U.S. Government decided it was going to force car makers, and just about everyone else, to switch over to the metric system, which would make us "just like the rest of the world" This was not well received and was resisted. If we wanted to be just like the rest of the world, we would have stayed "over there"

What we have NOW is a mish mash of bolts and other hardware, some metric and some SAE. The only thing that was accomplished was mechanics were forced to buy TWICE as many tools to stay in business. - Paul

4)   stubborn , hateful Union workers, especially in the skilled trades.
WHen these drunken idiots all die off, maybe we can advance to the 20th century, let alone the 21st.

Every engineer in the U.S. is fluent in SI units and we catch hell from the drunken idiots in the shops who can't read millimeters - John H

5)   Who cares, it works doesn't it. - doane_nut

_____ powerd by Yahoo!Answers ________
_____ Brought to yo by :

Question 3
how do i correct a gear 4 incorrect ratio problem for chrysler concord?...  

1)   if its 5 speed or 4 speed they are 1 to 1 so you have to change the diff or fit bigger wheels - Shirley

2)   You need to find out what other codes are in the TCM to solve this. Is this the only code that came up? It could be something as simple as a speed sensor or as bad as a clutch or planetary gear. You will need to do more diagnosis to find out what. I would recommend taking it to a quality repair shop that will diag transmissions and have it checked out. It will save you money in the long run to have it checked by a pro rather than try replacing parts hoping to get it right. - Mike J

3)   That's usually a speed sensor problem. I think there's 2 of them. - Two Lane. 455 Rocket.

4)   This usually means the transmission is slipping when overdrive is applied. The Transmission module counts the RPM's of the input sensor and output sensor in the transmission. If there is too much difference due to slippage, then it will set that code. It means the transmission needs work. - Jackolantern

_____ powerd by Yahoo!Answers ________
_____ Brought to yo by :

Question 4
why would the front end shake when braking in my 2000 chrysler mini van?...  

1)   warped rotors and/or pads. - Jim Stark

2)   Warped Brake rotors - 67Bronco

3)   Front rotors are warped. You may need to have them replaced instead of resurfacing (cutting) them. Have the brakes checked all around. - C-Tech

4)   The front brake rotors are warped, you will have to have them resurfaced or replaced depending on the thickness of the rotors, and you will also have to replace the pads. - Brandon

_____ powerd by Yahoo!Answers ________
_____ Brought to yo by :

Question 5
I need help to find a 1973 plymouth fury reverse lens?...  in the rear bumper

1)   Online or even e-bay, that's where I would look. You have the world at your fingertips and people all over the place just selling everything. - DaBrat

2) - done wrenching

3)   That's a good one. I know the very lens you're talking about, it's clear with the "Plymouth" script across it.
Check into Brad's NOS parts (803)755-0066.

Also, don't give up on eBay. lot's of junk yards and specialists now have stores there for all kinds of automotive parts. Keep in mind that the lens you're looking for was available from 71-73. - Delamothe

_____ powerd by Yahoo!Answers ________
_____ Brought to yo by :

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.