{"id":193589,"date":"2008-12-04T20:46:00","date_gmt":"2008-12-05T01:46:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/04\/automaker-updates-3\/"},"modified":"2008-12-04T20:46:00","modified_gmt":"2008-12-05T01:46:00","slug":"automaker-updates-3","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/04\/automaker-updates-3\/","title":{"rendered":"Automaker Updates"},"content":{"rendered":"<p>Well, let&#8217;s be clear here, the problem is not just that people are not buying cars from the Big 3 (Big 2\u00bd), it&#8217;s that they <a href=\"http:\/\/blogs.reuters.com\/great-debate\/2008\/12\/04\/how-far-should-taxpayers-go-to-rescue-automakers\/\">are not buying cars from anyone<\/a>.<\/p>\n<p>Year over year, we have domestic sales filling by: GM \u219341%, Ford \u219330%, Chyrsler \u219347%, Toyota \u219334%, Honda \u219332%, Nissan \u219342%, and Hyundai \u219340%.<\/p>\n<p>That is simply not sustainable, and with its lack of a foreign presence, Chrysler is clearly in the worst shape of the lot.<\/p>\n<p>So, we now have the CEOS of the Big 3 (Big 2\u00bd) <a href=\"http:\/\/www.reuters.com\/article\/topNews\/idUSTRE4B10C620081204?feedType=RSS&amp;feedName=topNews\">going before Congress and abasing themselves for operating cash<\/a>, along with the <a href=\"http:\/\/www.cnn.com\/2008\/POLITICS\/12\/02\/big.three.bailout.plans\/index.html?eref=rss_politics\">obligatory promise to pay themselves $1\/year<\/a>.<\/p>\n<p>The investment bankers did not do this, and they are still getting multimillion dollar bonuses.<\/p>\n<p>Chrysler and GM are still saying that they need the money to function, though Ford is still saying that they just need a loan guarantee to in case one of the others goes belly up, and it sets up a cascade of bankruptcies among the parts suppliers.<\/p>\n<p>Also, the amount of money has increased, from <a href=\"http:\/\/washingtonindependent.com\/20730\/for-automakers-25-billion-is-no-longer-enough\">$25 billion to 34 billion<\/a>&#8230;Which is still a lot less than the $7 trillion promised in one form or another to the Wall Street set.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, let&#8217;s be clear here, the problem is not just that people are not buying cars from the Big 3 (Big 2\u00bd), it&#8217;s that they are not buying cars from anyone. Year over year, we have domestic sales filling by: GM \u219341%, Ford \u219330%, Chyrsler \u219347%, Toyota \u219334%, Honda \u219332%, Nissan \u219342%, and Hyundai \u219340%. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1108,998],"tags":[],"class_list":["post-193589","post","type-post","status-publish","format-standard","hentry","category-auto-industry","category-congress"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193589"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=193589"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193589\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}