[DeTomaso] NPC: REALLY NO PANTERA CONTENT, US Auto Industry Bailout OPINION

[Ken Green]

Dennis,
 
    I don't think the suppliers make even close to UAW wages.  I would argue that if UAW members made only $100K, more US cars would be sold because prices would drop, and there would be more jobs at the suppliers.  The high UAW wages probably hurt employment everwhere else. 
 
    If Chapter 11 is the only way for that to happen, then so be it.  I doubt the average car buyer sees much difference between needing billions of our tax dollars and Chapter 11.
 
Ken
 


--- On Mon, 12/8/08, Mad Dog Antenucci <teampantera at yahoo.com> wrote:

From: Mad Dog Antenucci <teampantera at yahoo.com>
Subject: Re: [DeTomaso] NPC: REALLY NO PANTERA CONTENT, US Auto Industry Bailout OPINION
To: "michael at michaelshortt.com" <michael at michaelshortt.com>, notstock at yahoo.com
Cc: kenn_green at yahoo.com, "Asa Jay Laughton" <asajay at asajay.com>, "Pantera Forum" <detomaso at realbig.com>
Date: Monday, December 8, 2008, 1:56 PM

I agree they should have...And you KNOW they will all be back for more.

I was one of those who initially said the Big 3 shouldn't get sheeeit and 
NO government bailout.......

But reading and listening to a few our people on this List over the last week
who are OUT OF WORK  has convinced me penalizing every supplier and small
business and EMPLOYEE who had nothing to do with the unions, managing the Big 3
or government would further make a bad situation worse....7.6% unemployment
times the total number of folks not eligible for benefits or who are not counted
some say really accounts for a number like 12-13%





"michael at michaelshortt.com" <michael at michaelshortt.com> wrote:
This just off the wire, I love the first half of the last sentence.

*"GM, which is now committed to making car consumers want to buy "*


Duh!  Shouldn't that have been the plan all along??????




General Motors (GM : 4.83, +0.75, +18.38%)
needs $18 billion from the government and taxpayers and wants the American
people to know why.

In an open letter titled "GM's Commitment to the American People"
which ran
in Automotive News, a trade journal ready by industry executives, lobbyists
and other insiders, the beleaguered car maker candidly acknowledged it has
disappointed U.S. consumers and pledged to do better. It said recent strides
to improve the company have been hurt by the economic downturn, which is why
it needs the loans.

"We are in the midst of the worst economic crisis since the Great
Depression," said GM in the missive. "Just like you, we have been
severely
impacted by events outside our control. Despite moving quickly to reduce our
planned spending by over $20 billion, GM finds itself precariously and
frighteningly close to running out of cash."

Still GM acknowledged that while the economy is hurting the car company, it
has made missteps it only has itself to blame.

"At times we violated your trust by letting our quality fall below
industry
standards and our designs become lackluster," wrote GM. "We have
proliferated our brands and dealer network to the point where we lost
adequate focus on our core U.S. market." What's more GM said it
wrongly
focused on pick-ups and SUVs over other brands and as a result "paid
dearly."

Indeed last week GM reported that sales fell 41% in the month of November.

GM, which is now committed to making car consumers want to buy, said its
restructuring actions should enable the company to start repaying taxpayers
in 2011.
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Mad Dawg Antenucci 
Team Pantera Racing 
  The 1st & still the only vintage race team in open road racing 
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