# Why the US car industry is stuffed!



## tech/a (9 December 2008)

*Ford has spent the last thirty years moving all its factories out of the US,  claiming they can't make money paying American wages.

 TOYOTA has spent the last thirty years building more than a dozen plants  inside the US. The last quarter's results:

        TOYOTA makes 4 billion in profits while Ford racked up 9 billion in  losses.

 Ford folks are still scratching their heads.

 IF THIS WEREN'T TRUE, IT MIGHT BE FUNNY.*

*This parody may go a long way toward explaining why!*

A Japanese company ( Toyota ) and an American company ( Ford ) decided to have a canoe race on the Missouri River. Both teams practiced long and hard to reach their peak performance before the race.

On the big day, the Japanese won by a mile.

The Americans, very discouraged and depressed, decided to investigate the reason for the crushing defeat. A management team made up of senior management was formed to investigate and recommend appropriate action.

Their conclusion was the Japanese had 8 people rowing and 1 person steering, while the American team had 8 people steering and 1 person rowing.

 Feeling a deeper study was in order, American management hired a consulting  company and paid them a large amount of money for a second opinion.

 They advised, of course, that too many people were steering the boat, while  not enough people were rowing.

 Not sure of how to utilize that information, but wanting to prevent another  loss to the Japanese, the rowing team's management structure was totally  reorganized to 4 steering supervisors, 3 area steering superintendents, and
 1 assistant superintendent steering manager.

 They also implemented a new performance system that would give the 1 
 person rowing the boat greater incentive to work harder.    It was 
 called the 'Rowing Team Quality First Program,' with meetings, dinners, and  free pens for the rower. There was discussion of getting new paddles,  canoes, and other equipment, extra vacation days for practices and bonuses.

 The next year the Japanese won by two miles.

 Humiliated, the American management laid off the rower for poor performance,  halted development of a new canoe, sold the paddles, and canceled all  capital investments for new equipment. The money saved was distributed to  the Senior Executives as bonuses and the next year's racing team was  out-sourced to India.

 Sadly, The End.


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## Sean K (9 December 2008)

he he


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## Wysiwyg (9 December 2008)

God doesn`t bless America George, obviously.


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## CAB SAV (9 December 2008)

And how long will $15billion bailout last at the rate they burn money?


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## Green08 (9 December 2008)

Here is the real answer!!​


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## Green08 (9 December 2008)

​


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## Green08 (9 December 2008)

​


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## Whiskers (9 December 2008)

tech/a said:


> _*IF THIS WEREN'T TRUE, IT MIGHT BE FUNNY.*_




Yeah, hard to laugh, but can't help a little chuckle.

Looking forward to seeing how tough Obama's conditions will be on bailout. 

I'm still chuckling about them flying in corporate jets to put there hand out for bailout loan.


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## Smurf1976 (9 December 2008)

tech/a said:


> *This parody may go a long way toward explaining why!
> *



*
In short, the entire: pay the CEO a fortune / have a review / hire a consultant / outsource paradigm that is modern management in many Western countries is an outright failure. It has, to be blunt, essentially wrecked entire major industries, the financial system and done serious damage to entire countries.

In my opinion, the fair salary for any CEO and other senior management that feels the need to hire consultants or outsource is zero. They have declared their incompetence and thus ought not be paid since they are clearly incapable of doing the job. Put that condition in every senior management employment contract and we'll fix the Western economies pronto.*


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## GumbyLearner (10 December 2008)

Well this may have contributed to the reason and the level of technology deployed!


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## Aussiejeff (10 December 2008)

Green08 said:


> View attachment 26171​




Hi Greenie...

I straightened the 'toon for ya!






aj


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## Green08 (10 December 2008)

Aussiejeff said:


> Hi Greenie...
> 
> I straightened the 'toon for ya!aj




Thank you AJ appreciate the help

As you have skill and dexterity with picture manipulation would kindly change the side of the car to USA and modify 2 industry’s of captain hats. Swap Toyota and Holden for GM, and Chrysler.:

You can do what ever you want with little johnny!


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## Glen48 (10 December 2008)

Aussiejeff
You are just the man we need can you fix up the graph for Gold so it goes straight up and bring Turnabulls ratings up a bit?


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## Aussiejeff (8 April 2009)

Hahaha! GM is proposing this will revitalise the US transport industry.

http://www.theage.com.au/news/home/technology/meet-the-son-of-segway/2009/04/07/1238869976524.html

Can you believe it?

So, masses of people will pay 30% of the price of a car just to get 2 wheels that can go 56kph and travel up to 56k on one charge?

ROTFLMAO

Just imagine how many of these GNATS a triple road train could squash in one blow!! 

I remember in the late '50's & early 60's how everyone seriously imagined we were all going to have our very own "aircars" or "gyrocopters" that would solve the TERRIBLE traffic problems BACK THEN.  

Then when the "aircar" was shown to be a total pipedream, there were the "personal jetpacks" of the 60's that would magically provide cheap and rapid mass transport for everyone ... *sigh* another pipedream 

Oh yeah, and then computers were mainstreamed to the masses and would stop any more trees from being felled for printer paper... *sigh* another pipedream 

and ..... etcetera, etcetera, etcetera... 

I'll give humankind one kudos. We are great dreamers. Pass me my pipe....

LOL


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## skc (8 April 2009)

I don't believe the vast majority of Americans will even fit into that thing.


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## Aussiejeff (8 April 2009)

I find it laughable that something costing as much or more than motorcycles (which are very fuel efficient anyway) but is vastly slower than motorcycles (56kph vs up to 250kph+) and can carry no more than 2 people (same as a motorcycle) is suddenly being promoted as the answer to all our dreams.

Why not just promote motorcycles? Asia leads the way?

Huh?


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## noirua (25 May 2009)

Here it is!  The Worlds best car for 2012: Pelosi GTxi SS/RT Sports Edition.
http://www.youtube.com/watch?v=rAqPMJFaEdY


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## GumbyLearner (28 May 2009)

Breaking news

Looks like GM may have reached an agreement with Bondholders.
May stave off bankruptcy with extra taxpayer assistance down the road. 

http://www.google.com/hostednews/ap/article/ALeqM5jmT59dgLTTziX4p9X9MRBRpWZGdQD98F9B7O0

NEW YORK (AP) ”” Stocks are sharply higher amid reports that a General Motors Corp. bondholders committee accepted an amended debt offer.

Trading in GM shares is halted. CNBC is reporting that bondholders would get 10 percent of the equity in the company. That might still not spare the company from bankruptcy, however.


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## Aussiejeff (29 May 2009)

GumbyLearner said:


> Breaking news
> 
> Looks like GM may have reached an agreement with Bondholders.
> May stave off bankruptcy with extra taxpayer assistance down the road.
> ...





However, in further broke... errr _breaking_ news overnight...



> *Only 15 percent of bondholders approved the offer to trade their debt for a 10 percent stake in the new company*, a person familiar with the matter said. GM sweetened the plan today to promise warrants good for buying 15 percent more of the new enterprise, which would have an improved balance sheet based on a U.S. plan to trade bailout loans for equity.
> 
> Another 20 percent of bondholders now support the swap, according to a statement from their ad hoc committee today.
> 
> ...




See rest of article here -
http://www.bloomberg.com/apps/news?pid=20601087&refer=top_news&sid=a26dHH0N6LvY

Boy Blunder - _"Holy smoke, BatMobileMan!! So, GoBama City will now own *seventy freakin' two point freakin' hawaii five-o percent* of Genetically Modified crap?" _

BatManMobile - _"Errr... that's correct, my trusty sidekick - all those taxes you & your fellow citizens paid to the GoBama Penguin Heads have been used to buy millions of rusty tin cans sitting in deserted GM crap lots. This means those Penguin Heads can keep selling GoBama gummint subsidised GM crap to those dumb, unsuspecting, brainwashed citizens of GoBama City till the end of time. Not only have those suckers paid for the rusty GM tin cans ONCE with their taxes, but they get to pay a SECOND time when they buy one! A masterful plan, I'm sure you will agree Boy Blunder!"_ 

Boy Blunder - _"HOLY CRAP BatManMobile! That's the smartest plan the Penguin Heads ever came up with!"_


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## Aussiejeff (29 May 2009)

More juicy tidbits.....



> Under the proposed rapid bankruptcy plan, parts of the company deemed viable would be transferred to a new company that would be majority owned by the US Government.
> 
> While there is no clear indication of the fate of the Australian operations, GM Holden, the likelihood is it will not be affected by the American parent's bankruptcy, thanks to large subsidies from the Australian Government to keep the plant at Elizabeth in South Australia viable.
> 
> But *the Centre for Automotive Research's director of manufacturing research, Jay Baron, warned last week that once the GM bankruptcy reached the courts, it could take unexpected turns, with unexpected impacts for overseas operations, including Australia.*




http://business.theage.com.au/busin...ruptcy-now-appears-assured-20090528-bp0z.html


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## Temjin (29 May 2009)

GM failed for a ton of reasons. Massive pension liability, uncompetitive cars (in comparison to the Japanese), incompetent management who doesn't want to see things to change until its too late, etc, etc. A classic corporate failure.

There is no question whether GM will go into bankrupcy or not. It's a certainly.

The only discussion going on right now is how to structure it and decide "who gets what's left of the mess".

The bondholders were pissed because, as a legal SECURED creditors (usually on top of the chain), they were getting less than the union who are demanding more money for the health care trust. The bondholders were prepared to risk a chapter 11 filing to get a better deal than just 10% of the cut.

Now it seem they are getting double of that and the union will be getting less. 

Regardless, a lot of US taxpayers money were already spent in propping up this money-draining company and it's about time it should be buried. 

I would be eager to see the fallout effect when the company has finally go bankrupted and restructured, and when thousand of workers layed off and dealers and other component manufacturing businesses go bankrupt/fail.


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## Aussiejeff (29 May 2009)

Temjin said:


> GM failed for a ton of reasons. Massive pension liability, uncompetitive cars (in comparison to the Japanese), incompetent management who doesn't want to see things to change until its too late, etc, etc. A classic corporate failure.
> 
> There is no question whether GM will go into bankrupcy or not. It's a certainly.
> 
> The only discussion going on right now is how to structure it and decide *"who gets what's left of the mess".*




The GObama gummint gets to play with more than 70%.

AFAIC 70% of crap still = 70% crap. 



Temjin said:


> The bondholders were pissed because, as a legal SECURED creditors (usually on top of the chain), they were getting less than the union who are demanding more money for the health care trust. The bondholders were prepared to risk a chapter 11 filing to get a better deal than just 10% of the cut.
> 
> Now it seem they are getting double of that and the union will be getting less.
> 
> *Regardless, a lot of US taxpayers money were already spent in propping up this money-draining company and it's about time it should be buried.*




But it's not buried at all. Far from it. IT LIVES, IGOR, IT LIVES!! After this "faux quickie bankruptcy" which really just absolves the "new improved" nationalised, gummint owned company of any existing or outstanding debts, US taxpayers will continue to fund this monster to hell in a hand basket as it racks up huge new debts down the same old protectionist track. 



Temjin said:


> I would be eager to see the fallout effect when the company has finally go bankrupted and restructured, and *when thousand of workers layed off and dealers and other component manufacturing businesses go bankrupt/fail.*




Yeah. Apart from the certainty that the "New, Improved GM" will continue to struggle against cheaper imports, you gotta wonder how many 1,000's of allied creditors, contractors, suppliers etc, etc will go to the wall once the $Billions they were collectively owed is wiped out on 1 June? Maybe an avalanche or tsunami of allied Chapter 11's? 

The lawyers are gonna be tramping a well worn path to their banks for many years to come with the fallout fees for this load of shyte.


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## Aussiejeff (30 May 2009)

More grist for the lawyers to salivate over...



> *GM Bankruptcy Seen as Tale of Best, Worst of Assets (Update4)*
> By Linda Sandler, Jeff Green and Mike Ramsey
> 
> May 29 (Bloomberg) -- When General Motors Corp. files for bankruptcy protection next week, *a Dickensian tale of two legal processes will unfold*.
> ...




http://www.bloomberg.com/apps/news?pid=20601087&sid=av48.BJYaJbU&refer=home


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## jet328 (31 May 2009)

funny and spot on
http://www.minyanville.com/audiovideo/703/1/23


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