GM gets some advice...

[Mega]

Stop throwing good money after bad!
http://carscoop.blogspot.com/2012/09...gm-should.html

Here in Euroland let me make it clear, people are not going to spend VW/Audi/Merc/BMW money on a F*cking Chevy!
Mike

[FrankL]

Re: GM gets some advice...

Stop throwing good money after bad!
http://carscoop.blogspot.com/2012/09...gm-should.html

Here in Euroland let me make it clear, people are not going to spend VW/Audi/Merc/BMW money on a F*cking Chevy!
Mike

and Opel is definitely still a few steps above a (korean made) Chevrolet in most people's minds.

But this whole alliance business with Peugeot/Citroen... how does forming an alliance between two manufacturers, both with gross overcapacity, solve anything?

The alternatives are: let the brand die, or sell to Chinese manufacturers that are eager to buy the technology and brandnames. As others have noticed, the governments of European nations seem to be of the opinion that the overcapacity in manufacturing has to be resolved somehow, as long as it doesn't involve closing factories in their country. Who will be first to throw in the towel?

[GRG55]

Re: GM gets some advice...

and Opel is definitely still a few steps above a (korean made) Chevrolet in most people's minds.

But this whole alliance business with Peugeot/Citroen... how does forming an alliance between two manufacturers, both with gross overcapacity, solve anything?

The alternatives are: let the brand die, or sell to Chinese manufacturers that are eager to buy the technology and brandnames. As others have noticed, the governments of European nations seem to be of the opinion that the overcapacity in manufacturing has to be resolved somehow, as long as it doesn't involve closing factories in their country. Who will be first to throw in the towel?

This mindset is not unique to Europe. The same thing was in play during the bailout pleading by the US auto manufacturers...it's okay to take out capacity, but not in my company, my town or my Congressional District. It took the government firing the car executives and establishing a "Car Czar" to make some modest progress in that respect.

[Thailandnotes]

Re: GM gets some advice...

Subprime Auto Nation

When you start to connect the dots, things that didn’t seem to make sense begin to crystallize. This is all part of the master plan concocted by Bernanke, Geithner, Obama and the Wall Street Shysters. The auto section of my local paper now makes sense. Offers of 7 year financing at 0% interest and monthly lease offers of $150 to $200 for brand new cars now are understandable. The newer model BMWs, Cadillac Escalades, Volvos, and Jaguars I see parked in front of the low income luxury gated townhome community in West Philadelphia now makes sense. A pizza delivery guy driving a new Lexus is now explainable.

The master plan is fairly simple. The Federal Reserve lends money to the Wall Street banks for 0% interest. These banks then turn around and provide credit card debt at 13% interest, new & used car loans to prime borrowers at 5% interest, and new & used car loans to subprime borrowers at 16%. When you can borrow for free, you can take a chance that a significant number of your borrowers will default. Essentially, Ben Bernanke is screwing the prudent savers and senior citizens by paying them 0.15% on their savings in order to subsidize the bankers that destroyed the country so they can make auto loans to the same people who took out the zero percent down interest only no doc mortgage loans in 2005. In addition, Wall Street knows the Bernanke Put is still in place. If and when these subprime loans explode in their faces again, Bennie, Timmy and Obamaney will come to the rescue with your tax dollars. Its heads you lose, tails you lose, again.

Read more at http://www.nakedcapitalism.com/2012/...uIxi5q38HM9.99

[don]

Re: GM gets some advice...

The master plan is fairly simple. The Federal Reserve lends money to the Wall Street banks for 0% interest. These banks then turn around and provide credit card debt at 13% interest, new & used car loans to prime borrowers at 5% interest, and new & used car loans to subprime borrowers at 16%. When you can borrow for free, you can take a chance that a significant number of your borrowers will default. Essentially, Ben Bernanke is screwing the prudent savers and senior citizens by paying them 0.15% on their savings in order to subsidize the bankers that destroyed the country so they can make auto loans to the same people who took out the zero percent down interest only no doc mortgage loans in 2005. In addition, Wall Street knows the Bernanke Put is still in place. If and when these subprime loans explode in their faces again, Bennie, Timmy and Obamaney will come to the rescue with your tax dollars. Its heads you lose, tails you lose, again.

FIRE working the cut between consumer-propagandized sheeple and lifetime savers, backstopped by all . . . .