Quote:
Originally Posted by Mr. Clean
I don't mean to pick on you LenA, as I know from reading elsewhere, you have a personal stake in this situation. But, this statement is more than a bit melodramatic and a check that you can't cash.
As for my opinion on the situation, Chrysler has been to the well once there should be nothing for them now. If you can't learn from past mistakes there is no reason to believe that things will be any different down the road. If that means they go under, so be it. Unlike you, I don't see this to be the end of the world. If GM is to receive any help, serious concessions must be made on their part.
|
That's funny since I just posted that one of my neighbors works for one of the affected auto suppliers, Standard & Poors just put fifteen others on credit watch, and Automotive News has been writing for two weeks, with no dissenting opinion from Toyota, Honda, or Nissan, that a Big 3 bankruptcy will also shut down their production.
There is nothing melodramtic about it. At the automotive industry summit this past summer, in response to a question about suppliers having problems with Detroit, replied "An supplier having problems with them (the Detroit automakers)
will be a problem for us." And Toyota is having problems already, with a $336 million loss this past quarter in North America.
CNBC's Mad Money guru Jim Cramer just said this on Monday night as well, but hey, I don't know anything. Video:
YouTube - Jim Cramer Mad Money November 10 2008 GM rescue? , More from Cramer on GM:
Mad Money: Cramer: Why GM Matters So Much - Mad Cap Recap - CNBC.com
MotorCity just posted
he works for one of the companies I listed, and backs up what I posted.
But hey, all you non Detroiters all know better. Same sh*t, diferent day.