Chinese Want To Buy The Big Three US Automakers:

giovonni · 11-20-2008, 01:21 AM

With> The US Congress scolding and snubbing the auto executives, today in Washington; A government bailout is unlikely. The most probable outcome or remedy, will either be bankruptcy (and reorgainzation), or the possible buyout by the country with all the (US) money in the world>China.

http://www.huffingtonpost.com/jane-h..._b_144920.html

Tara · 11-20-2008, 01:36 AM

I've been saying this to my friends for weeks. I live in the Detroit area suburbs, and I want the bailout on some level with conditions regarding the executives. When I first heard that the bailout had so much opposition, I thought immediately that the Chinese will definetly by here and ready to scoop up the automotives. Al Queda's plan is to squash our economy. The chinese, on some level, may realize this is one way to keep the US from becoming the ultimate super power (not that I support anyone being a super power in anyway ever!!!). People- We're in so much trouble here. Have you noticed the news coverage lately? All pertaining to auto bailout. Nothing about the 700b. There was one little blip about the executives receiving bonuses at the financial institutions, and then it was dropped. Evidently the money was already set aside before the bailout. This stuff is scary. Bailout the money boys and girls. Kill the unions, and any potential for American made cars. Who it hurts is us. I hear that sucking sound Perot was talking about, crazy little dude that he is. I feel like Bush is robbing us on his way out the door. Bush and Cheney's personal worth has skyrocketed. Where are those D*mn ninja's???

11-20-2008, 01:52 AM

America is being destroyed financially, not militarily.

We are fast becoming "de-industrialised" & will soon be a 2nd world economy. I've heard 80% of industrial jobs have already gone, and the remaining 20% will surely go when the false "carbon-tax" is implemented. China, India, etc. will never allow a carbon tax. There are so many emerging problems - Bee colony collapse, famine, unemployment, housing bubble (these are the ones I can prove - not to mention 2012, Niniru...

). PLEASE PREPARE EVERYONE - BUY WATER FILTERS, CANNED FOOD, ETC.

RSF · 11-20-2008, 03:03 AM

Don't want to make to-big a deal of this -- but; Been following US Politics in most areas for quite awhile.
Seems to me, through the years Congress & the Presidents have been falling down on their commitment to represent the WILL of the US PEOPLE through inserting their own will. And yet?, they, in most cases get reelected?

Now the Chinese seem to taking advantage of the huge debt owed by absorbing major US Companies -- yes, and that's a bad thing.
But it's all a trade-off. Until 2009.

RSF

ralok_j · 11-20-2008, 03:07 AM

I too live in the Detroit area and I say let them take the BK route. They have no clear plan for the future. All they are betting on is 2010 when they hand the pension and health care obligations to the UAW. No one is buying now because of the slow down in the economy. Let them file ch 13 and reorganize.

feardia · 11-21-2008, 11:06 AM

Why would the Chinese want to buy the lame duck US auto industry? They are having a recession of their own, the US factories are tooled up for producing Hummers and other gas-guzzling nightmares which no-one will be able to afford to run.
Looks like the American people have been fleeced by their rulers, bankers and CEO's, they'll hand the lot over to China and **** off to Israel- so long, suckers, and thanks for all the fish.

Steve_A · 11-21-2008, 12:45 PM

Hi feardia,

China could want to buy the US car makers because they NEED to spend the dollars they have in their reserve. If they don't spend the dollars now, whilst it's quite high in value terms (many agree that it's over valued) they would lose a lot of money later on when the dollar crashes and the value is nothing more than the paper it's printed on.

So, in a way, China is getting a very lucrative deal, if they manage to pull it off, ready made factories with cheap labour costs as the current workers will all be laid off and will only be re-employed for a fraction of the over inflated union (a)greed(y) salary which they have at present, with over valued currency which nobody wants, which they have to shift anyway.

Best regards,

Steve

Quote:

Originally Posted by feardia

Why would the Chinese want to buy the lame duck US auto industry? They are having a recession of their own, the US factories are tooled up for producing Hummers and other gas-guzzling nightmares which no-one will be able to afford to run.
Looks like the American people have been fleeced by their rulers, bankers and CEO's, they'll hand the lot over to China and **** off to Israel- so long, suckers, and thanks for all the fish.

Humble Janitor · 11-21-2008, 01:16 PM

Quote:

Originally Posted by Steve_A

Hi feardia,

China could want to buy the US car makers because they NEED to spend the dollars they have in their reserve. If they don't spend the dollars now, whilst it's quite high in value terms (many agree that it's over valued) they would lose a lot of money later on when the dollar crashes and the value is nothing more than the paper it's printed on.

So, in a way, China is getting a very lucrative deal, if they manage to pull it off, ready made factories with cheap labour costs as the current workers will all be laid off and will only be re-employed for a fraction of the over inflated union (a)greed(y) salary which they have at present, with over valued currency which nobody wants, which they have to shift anyway.

Best regards,

Steve

I take offense to your label of an union salary as "greedy". As a member of an union, I enjoy the benefits that it gives me and I'm a custodian. Employees of the Big Three make at least twice or 2.5 times what I make a hour.

feardia · 11-21-2008, 01:54 PM

I think the ceo's and banksters are more at fault than the guys on the factory floor. If China take the factories they will close them and keep the brand names, so your new dodge/ford/chrysler will be a rebranded shanghai special.
The story seems to be a scare tactic to finance another bail out, after all you only get the news they want you to hear.

Steve_A · 11-21-2008, 03:05 PM

Hi Humble Janitor,

You shouldn't take offence to what I was saying as you agreed with me in your reply. My intention was not to say that every 'union salary' was greedy, on the contrary. I was replying about the auto industry salaries in the US. The union salaries in the auto industry as you stated are 2.5 times higher than yours and way and above the non-union salaries of the same sector.

We need to understand the history of unions. When they first came into being, they had a noble cause, protecting against shoving little boys into chimney stacks to clean them or children and women digging for coal with their bare hands, dangerous working conditions, or excessive hours, a reasonable wage compatible to the work being done.

That I'm all for.

But to argue and threaten to break companies is going a little too far. Contributing to political campaigns also is going a little too far as each union member has their own political agenda and union subs are not paid for this end.

The union representative said to the lawmakers this week that salaries should not be compromised if the big three got help from the bailout package. He obviously doesn't understand the phrase 'Give and Take' and that, in my eyes, is just being down right greedy. He wants taxpayers money, but is not wanting to give up anything in return.

It's one of the factors that put the big three where they are today. That's why Honda and Hyundai can make cars cheaper.

If the big three go into chapter 11, the thing they will probably do is close down the Detroit plants and operate in Mexico. Then where will the union representative be?

I'm not sure what a custodian is so forgive me for that.

Best regards,

Steve

Quote:

Originally Posted by Humble Janitor

I take offense to your label of an union salary as "greedy". As a member of an union, I enjoy the benefits that it gives me and I'm a custodian. Employees of the Big Three make at least twice or 2.5 times what I make a hour.

Steve_A · 11-21-2008, 03:10 PM

Hi feardia,

You could very well be right about using fear tactics as a weapon to get sweaty hands on cash. It's also a possibility.

The China story was not officially confirmed, but it doesn't mean to say that it could not happen. Let's keep our heads up and eyes and ears open.

I couldn't agree more with you about who's fault the present situation is, I watched the proceedings on TV and the CEOs of those three looked like 'hoods'.

Best regards,

Steve

Quote:

Originally Posted by feardia

I think the ceo's and banksters are more at fault than the guys on the factory floor. If China take the factories they will close them and keep the brand names, so your new dodge/ford/chrysler will be a rebranded shanghai special.
The story seems to be a scare tactic to finance another bail out, after all you only get the news they want you to hear.

KassandraLoves · 11-23-2008, 01:51 AM

This may sound kind of dumb or a bit off-topic:

As I stated in a different thread, there ARE companies like Harley-Davidson that would rather see their product die than to sell it to a "non-american" country. I know that the auto-makers are very greedy and the original "family" of owners is long since gone...but maybe theres some out there that truly care about what the name of their family is on??? I dunno...

But thats why i love working for Harley. Its like a really, really big family owned business. Its hard to explain. It just makes me happy that I am not working for a company that just wants the money overall instead of being interested in what the hell they are selling. It might also be partly due to the fact the Harley has only been around for about 100 years, so the original family is still in an executive standing....Thats Why I always tell everyone to buy harley. Its american and they really do care about what they have their name on.

Sorry, just wanted to throw that out there.

The car companies are so lame, though. I bet they WOULD sell to the chinese or whatever....too bad it will all be for naught....

Did I mention they have motorcycles in mad max???? Lets have an Avalon biker gang!!!! hahahahhaa....New America, here we come!!!! WAAHOOOOO!

11-20-2008, 01:21 AM	#1
giovonni Avalon Senior Member Join Date: Sep 2008 Location: within my heart Posts: 1,209	Chinese Want To Buy The Big Three US Automakers: With> The US Congress scolding and snubbing the auto executives, today in Washington; A government bailout is unlikely. The most probable outcome or remedy, will either be bankruptcy (and reorgainzation), or the possible buyout by the country with all the (US) money in the world>China. http://www.huffingtonpost.com/jane-h..._b_144920.html

11-20-2008, 01:36 AM	#2
Tara Avalon Senior Member Join Date: Oct 2008 Posts: 85	Re: Chinese Want To Buy The Big Three US Automakers: I've been saying this to my friends for weeks. I live in the Detroit area suburbs, and I want the bailout on some level with conditions regarding the executives. When I first heard that the bailout had so much opposition, I thought immediately that the Chinese will definetly by here and ready to scoop up the automotives. Al Queda's plan is to squash our economy. The chinese, on some level, may realize this is one way to keep the US from becoming the ultimate super power (not that I support anyone being a super power in anyway ever!!!). People- We're in so much trouble here. Have you noticed the news coverage lately? All pertaining to auto bailout. Nothing about the 700b. There was one little blip about the executives receiving bonuses at the financial institutions, and then it was dropped. Evidently the money was already set aside before the bailout. This stuff is scary. Bailout the money boys and girls. Kill the unions, and any potential for American made cars. Who it hurts is us. I hear that sucking sound Perot was talking about, crazy little dude that he is. I feel like Bush is robbing us on his way out the door. Bush and Cheney's personal worth has skyrocketed. Where are those D*mn ninja's???

11-20-2008, 01:52 AM	#3
mulder Guest Posts: n/a	Re: Chinese Want To Buy The Big Three US Automakers: America is being destroyed financially, not militarily. We are fast becoming "de-industrialised" & will soon be a 2nd world economy. I've heard 80% of industrial jobs have already gone, and the remaining 20% will surely go when the false "carbon-tax" is implemented. China, India, etc. will never allow a carbon tax. There are so many emerging problems - Bee colony collapse, famine, unemployment, housing bubble (these are the ones I can prove - not to mention 2012, Niniru...). PLEASE PREPARE EVERYONE - BUY WATER FILTERS, CANNED FOOD, ETC.

11-20-2008, 03:03 AM	#4
RSF Avalon Senior Member Join Date: Sep 2008 Location: Canada Posts: 226	Re: Chinese Want To Buy The Big Three US Automakers: Don't want to make to-big a deal of this -- but; Been following US Politics in most areas for quite awhile. Seems to me, through the years Congress & the Presidents have been falling down on their commitment to represent the WILL of the US PEOPLE through inserting their own will. And yet?, they, in most cases get reelected? Now the Chinese seem to taking advantage of the huge debt owed by absorbing major US Companies -- yes, and that's a bad thing. But it's all a trade-off. Until 2009. RSF

11-20-2008, 03:07 AM	#5
ralok_j Avalon Senior Member Join Date: Sep 2008 Posts: 124	Re: Chinese Want To Buy The Big Three US Automakers: I too live in the Detroit area and I say let them take the BK route. They have no clear plan for the future. All they are betting on is 2010 when they hand the pension and health care obligations to the UAW. No one is buying now because of the slow down in the economy. Let them file ch 13 and reorganize.

11-21-2008, 11:06 AM	#6
feardia Avalon Senior Member Join Date: Sep 2008 Location: Uisneach, Ireland Posts: 477	Re: Chinese Want To Buy The Big Three US Automakers: Why would the Chinese want to buy the lame duck US auto industry? They are having a recession of their own, the US factories are tooled up for producing Hummers and other gas-guzzling nightmares which no-one will be able to afford to run. Looks like the American people have been fleeced by their rulers, bankers and CEO's, they'll hand the lot over to China and **** off to Israel- so long, suckers, and thanks for all the fish.

11-21-2008, 01:54 PM	#9
feardia Avalon Senior Member Join Date: Sep 2008 Location: Uisneach, Ireland Posts: 477	Re: Chinese Want To Buy The Big Three US Automakers: I think the ceo's and banksters are more at fault than the guys on the factory floor. If China take the factories they will close them and keep the brand names, so your new dodge/ford/chrysler will be a rebranded shanghai special. The story seems to be a scare tactic to finance another bail out, after all you only get the news they want you to hear.

11-23-2008, 01:51 AM	#12
KassandraLoves Avalon Senior Member Join Date: Nov 2008 Location: WA, USA Posts: 187	Re: Chinese Want To Buy The Big Three US Automakers: This may sound kind of dumb or a bit off-topic: As I stated in a different thread, there ARE companies like Harley-Davidson that would rather see their product die than to sell it to a "non-american" country. I know that the auto-makers are very greedy and the original "family" of owners is long since gone...but maybe theres some out there that truly care about what the name of their family is on??? I dunno... But thats why i love working for Harley. Its like a really, really big family owned business. Its hard to explain. It just makes me happy that I am not working for a company that just wants the money overall instead of being interested in what the hell they are selling. It might also be partly due to the fact the Harley has only been around for about 100 years, so the original family is still in an executive standing....Thats Why I always tell everyone to buy harley. Its american and they really do care about what they have their name on. Sorry, just wanted to throw that out there. The car companies are so lame, though. I bet they WOULD sell to the chinese or whatever....too bad it will all be for naught.... Did I mention they have motorcycles in mad max???? Lets have an Avalon biker gang!!!! hahahahhaa....New America, here we come!!!! WAAHOOOOO!