Posts Tagged ‘auto industry’

Half of auto suppliers looking at bankruptcy

March 21, 2009

Reuters reports that according to a study by A.J. Kearney, more than half of U.S. auto suppliers face bankruptcy in 2009 which could result in the loss of more than one million jobs.


Auto industry stabilization plans

December 5, 2008

Okay, I think the car makers are beginning to get it BUT I’m sorry, stabilization plan?  That is how they are selling the bailout to Americans?

How about, “Car-makers fill taxpayers’ coffers plan”   You know, something about us, about what we will get out of this.

When businesses go to a lender for a loan, they talk about how the lender will profit from the investment.

Auto industry stabilization plans for all three car makers courtesy Docuticker:

Public doesn’t support auto industry bailout

November 27, 2008

So says this survey which doesn’t appear very scientific.    I don’t support a “bailout” but I’m willing to support a negotiated settlement that includes responsibilities and benefits on both sides.  


Hecker Update: Dealerships closed and jobs lost

November 23, 2008

Mr. Hecker wasn’t kidding in his lawsuit against Chrysler for cutting off his credit.  Looks like he is in a bad way, having closed six dealerships and sold three more.  400 people have lost their jobs as a result.  I think this is just the beginning of a big contraction for all the auto-related industries that depend on the big three.  Whether they get bailed out or not, if they don’t sell cars, all these related sectors are extremely vulnerable.


What’s Wrong with the GM video

November 18, 2008

Where to start?  How about the music?  Did they commission Philip Glass and tell him it was a workplace instructional video?  It is creepy, repetitive and crude.   Like the video itself which is a series of statistics; how many people the car manufacturers employ, how many dealerships there are, how many people make auto parts.  Its interesting that GM hasn’t been particularly helpful to the later and but alas the video isn’t about them, its about us.  And how after the onslaught of scary statistics and the mind-numbing music, we are suppose to grab the phone and call our congressperson and tell them, “VOTE FOR THAT AUTO BAILOUT!”  Yes, we are suppose to be panicky and scared that our economy as we know it will disappear.  Does this sound familiar?  Like the last bailout?   And so we give them all this money, these capitalist losers and then what?  Expect that they will spend it wisely and build great fuel-efficient cars that people will want to purchase?  Why doesn’t the video even address that question?  How are we to believe they will be successful with our money?  No, they don’t want to even go there.  They would rather spend three plus minutes persuading us that cars are big business in America.  Did someone not know that?  If this is the best GM can do, I say NO! to the bailout.

Dennis Hecker Sues Chrysler Financial

November 17, 2008

Seems in mid-October they just stopped honoring Mr. Hecker’s credit line with no notice and Dennis isn’t a small player as he owns at least 15 dealerships in the Minnesota.   If I were Dennis, I wouldn’t take this personally but I also might find another line of auto manufacturers to work with, maybe one from another country?  Just saying.