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 Post subject: Government Motors update
PostPosted: Thu Oct 29, 2009 8:27 am 
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WSJ article


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PostPosted: Thu Oct 29, 2009 9:38 am 
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And it becomes clearer and clearer how refusing to take taxpayer money has helped Ford recover far faster...

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PostPosted: Thu Oct 29, 2009 11:02 am 
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I can not tell if that is Sarcasm or not, mostly because I don't know the state of Ford.

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PostPosted: Thu Oct 29, 2009 11:25 am 
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Uncle Fester wrote:
I can not tell if that is Sarcasm or not, mostly because I don't know the state of Ford.


Better than the other 2 of the "big three," though not exactly the picture of corporate health.

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PostPosted: Thu Oct 29, 2009 12:06 pm 
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DFK! wrote:
Uncle Fester wrote:
I can not tell if that is Sarcasm or not, mostly because I don't know the state of Ford.


Better than the other 2 of the "big three," though not exactly the picture of corporate health.


They're solvent, and they're recovering. They've also boosted their reputation big-time, and their sales are great compared to Chrysler/GM.

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PostPosted: Thu Oct 29, 2009 1:23 pm 
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Talya wrote:
DFK! wrote:
Uncle Fester wrote:
I can not tell if that is Sarcasm or not, mostly because I don't know the state of Ford.


Better than the other 2 of the "big three," though not exactly the picture of corporate health.


They're solvent, and they're recovering. They've also boosted their reputation big-time, and their sales are great compared to Chrysler/GM.



Indeed.

Their cars still blow though, in terms of design. Fugly.

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PostPosted: Thu Oct 29, 2009 1:39 pm 
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<3 Ford's Ecoboost engine.

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PostPosted: Thu Oct 29, 2009 2:07 pm 
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DFK! wrote:
Indeed.

Their cars still blow though, in terms of design. Fugly.


I dunno... Lisa just got a Focus a couple months ago.. it is kind of cool.

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PostPosted: Thu Oct 29, 2009 2:35 pm 
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http://www.foxnews.com/politics/2009/10 ... latestnews

Report: Cash for Clunkers Auto Program Cost Taxpayers $24,000 Per Vehicle
A report conducted by the automotive information firm Edmunds.com found that of the nearly 690,000 vehicles sold under the program, only 125,000 of the sales were incremental.

American taxpayers doled out $24,000 per vehicle sold under the government's "Cash for Clunkers" auto program, according to a study released Wednesday.

The report, conducted by the automotive information firm Edmunds.com in Santa Monica, Calif., found that of the nearly 690,000 vehicles sold under the program, only 125,000 of the sales could be credited directly to the Cash-for-Clunkers program.

The rest of the sales would have happened anyway, despite the government program, the report said -- raising questions over its effectiveness.

The report also said that the average cost for a vehicle in August 2009 was only $26,915 -- minus an average cash rebate of $1,667.

Cash for Clunkers -- officially known as the Car Allowance Rebate System -- was a $3 billion program intended to provide economic incentives to Americans to purchase a new, more fuel efficient cars when they traded in an older, less efficient vehicle.

The program was touted for giving a boost to auto sales while increasing the sales of more fuel-efficient vehicles

http://www.edmunds.com/help/about/press ... ticle.html <-- link to Edmunds study.
________________________________________________________________________________

So 24,000 bucks for a vehicle that ended up having it's engine seized and sold off for parts. Really- did anyone read the requirements for what was considered a clunker?

This was a new deal type program. Flush our money down the toilet in order to artifically inflate the numbers.

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PostPosted: Thu Oct 29, 2009 3:05 pm 
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Hannibal:

The best part of is that CFC created a liquidity sink for people who couldn't afford cars to lose more money and leverage more debt they didn't need.

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PostPosted: Thu Oct 29, 2009 3:11 pm 
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Actually, I think the best part is this:

During the GM bailout fiasco, the powers that be repeatedly declared that a big part of GM's problem is that they weren't selling enough fuel-economical vehicles.

So what they do immediately after bailing GM out? Offer people a cash incentive to buy vehicles that they don't believe GM makes.

Idiots.

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PostPosted: Thu Oct 29, 2009 3:12 pm 
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darksiege wrote:
kind of cool.

Which means it is still mostly "not cool".


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PostPosted: Thu Oct 29, 2009 3:13 pm 
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Stathol wrote:
Idiots.

Same idiots that currently negotiating with GMAC to give the company another $2-5 billion in bail out funds, to increase the government holding from its current 34% ($12 billion currently invested in the company).


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PostPosted: Thu Oct 29, 2009 5:16 pm 
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Is it legal to have government controlled private companies over there? I know it's not legal here.
Would those extra shares (bought with the more funds) put the government as the largest single share holder in the company? /boggle


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PostPosted: Thu Oct 29, 2009 6:57 pm 
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It's not supposed to be but that doesn't seem to stop them.

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PostPosted: Thu Oct 29, 2009 9:24 pm 
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Lydiaa wrote:
Is it legal to have government controlled private companies over there? I know it's not legal here.
Would those extra shares (bought with the more funds) put the government as the largest single share holder in the company? /boggle


The rule of law?

Bah!

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PostPosted: Fri Oct 30, 2009 3:04 am 
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Khross wrote:
Hannibal:

The best part of is that CFC created a liquidity sink for people who couldn't afford cars to lose more money and leverage more debt they didn't need.



I rather fond of the fact that some 690,000 vehicles that would have been on the market for the folks who couldn't/should't buy new are gone; those cars are unavailable for purchase, and the remaining used cars are that much more in demand. Add this to Khross' point, and boy am I glad the powers that be are so concerned with the "underprivileged". It's scary to think how they'd act if they didn't care so much.

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PostPosted: Fri Oct 30, 2009 10:11 am 
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Lydiaa wrote:
Is it legal to have government controlled private companies over there? I know it's not legal here.
Would those extra shares (bought with the more funds) put the government as the largest single share holder in the company? /boggle

Even if they are shareholder, they don't change company policy via the board of directors. They just pass legislation!

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PostPosted: Fri Oct 30, 2009 10:57 am 
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Vindicarre wrote:
Khross wrote:
Hannibal:

The best part of is that CFC created a liquidity sink for people who couldn't afford cars to lose more money and leverage more debt they didn't need.



I rather fond of the fact that some 690,000 vehicles that would have been on the market for the folks who couldn't/should't buy new are gone; those cars are unavailable for purchase, and the remaining used cars are that much more in demand. Add this to Khross' point, and boy am I glad the powers that be are so concerned with the "underprivileged". It's scary to think how they'd act if they didn't care so much.


Amen.

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PostPosted: Fri Oct 30, 2009 6:57 pm 
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Barack Obama's Campaign Promises

"I will always be a strong advocate for a market that is free and open."—9/17/07, New York City

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PostPosted: Wed Nov 04, 2009 11:35 am 
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darksiege wrote:
DFK! wrote:
Indeed.

Their cars still blow though, in terms of design. Fugly.


I dunno... Lisa just got a Focus a couple months ago.. it is kind of cool.



I haven't been happy with the Focus we bought. The motor in the window mechanism died, and we had some other problems with it. We bought it at low mileage (used, obviously). Good fuel efficiency, and for a small car it's got good leg room. But yeah, I think I'm gonna get a Honda next time, if I can't get a hybrid.

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PostPosted: Wed Nov 04, 2009 12:02 pm 
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Power window motors aren't typically built by the manufacturer, they are bought in bulk from parts suppliers, unless they need a very special propietary unit, and even then, they can be bought in smaller lots under contract with some in-house design collobration.

Consider yourself lucky.

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PostPosted: Wed Nov 04, 2009 5:22 pm 
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Hannibal wrote:
Barack Obama's Campaign Promises

"I will always be a strong advocate for a market that is free and open."—9/17/07, New York City


My guess is that this quote is very seriously taken out of context. If I had to make a guess, he also likely talked about sensible regulation and even government intervention when the need arises.

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PostPosted: Wed Nov 04, 2009 5:32 pm 
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Monte wrote:
Hannibal wrote:
Barack Obama's Campaign Promises

"I will always be a strong advocate for a market that is free and open."—9/17/07, New York City


My guess is that this quote is very seriously taken out of context. If I had to make a guess, he also likely talked about sensible regulation and even government intervention when the need arises.

This is hilarious when you consider this thread is right next to the Limbaugh thread.

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PostPosted: Wed Nov 04, 2009 5:36 pm 
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Gee, I guess I hold Barak Obama in significantly higher esteem than Rush Limbaugh. Wonder why that might be...

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