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ire

Turbo Monkey
Aug 6, 2007
6,199
4
GM is running out of cash, and I bet they go bankrupt
http://money.cnn.com/2008/06/19/news/companies/taylor_gm.fortune/index.htm?postversion=2008061910

This stunning sales decline means that GM is continuing to burn cash at a fearsome rate - perhaps $1 billion a month by some estimates. Rod Lache of Deutsche Bank figures that GM will consume as much as $19 billion in cash over the next two years. Since it began the second quarter with $23.9 billion on hand and needs $10 billion to $15 billion to keep the lights turned on, that leaves a big hole.
 

MMike

A fowl peckerwood.
Sep 5, 2001
18,222
85
just sittin' here drinkin' scotch
Anyone ever read "The Machine that Changed the World"?

All about the principles of Lean manufacturing, and why American cars are so crappy in comparison to Toyotas.

It's a pretty good read.......except for the reading part.
 

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
30,451
3,378
Portland, OR
Since gas prices plummeted $.08 a gallon, I put an order in on a new H2 and I am replacing the windshield with a 72" plasma screen to pimp it out. At this rate, gas prices will be $1.09 by the end of summer.

PIMP!
 

blue

boob hater
Jan 24, 2004
10,165
0
california
Ford has the cash reserves and maneuverability (as well as overseas resources to draw from) to survive the current crisis, but unless there are SERIOUS changes at GM, they will be going bankrupt at some point within the next 3-4 years.

Buying their stock right now would be sheer idiocy.
 

$tinkle

Expert on blowing
Feb 12, 2003
14,591
5
Ford has the cash reserves and maneuverability (as well as overseas resources to draw from) to survive the current crisis, but unless there are SERIOUS changes at GM, they will be going bankrupt at some point within the next 3-4 years.

Buying their stock right now would be sheer idiocy.
wtf does your broke ass know about teh market? you can't even afford the rent on your jetta
 

ire

Turbo Monkey
Aug 6, 2007
6,199
4
highly doubtful.... they are ripe for a Toyota/Honda buyout though
I doubt Toyota or Honda want anything to do with GM or Ford. Both companies are very sick and merging/acquiring either would be bad for Toyota/Honda. GM has been talking about selling a stake in their overseas operation to raise cash, and their overseas operation is profitable...
 

MMike

A fowl peckerwood.
Sep 5, 2001
18,222
85
just sittin' here drinkin' scotch
...and Daimler Chrysler worked out so well........

The trying to merge the "Toyota way" into GM...I'm not saying it would NEVER work...but it's just SO different, it might not be worth the trouble.
 

ohio

The Fresno Kid
Nov 26, 2001
6,638
4
SF, CA
Yeah, if I were toyota and honda, I MAY buy up some of their assets after they go tits up, but I would wait for bankruptcy to wipe the pension and union obligations clean and only re-start in Michigan if I could do it un-unionized with new guard that were Toy/Honda trained.
 

MMike

A fowl peckerwood.
Sep 5, 2001
18,222
85
just sittin' here drinkin' scotch
I mean EVERYTHING is different.....training, how they negotiate contracts with vendors......all that would be completely contrary with how Toyota does business.

They should just buy some stuff at the auction.....
 

ire

Turbo Monkey
Aug 6, 2007
6,199
4
Yeah, if I were toyota and honda, I MAY buy up some of their assets after they go tits up, but I would wait for bankruptcy to wipe the pension and union obligations clean and only re-start in Michigan if I could do it un-unionized with new guard that were Toy/Honda trained.
Hell, they could go to Flint and start up factories paying workers min. wage.....those ppl are desperate for jobs
 

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,007
149
The Cleft of Venus
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N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,007
149
The Cleft of Venus
Toyota offers 0% financing on 11 models till Nov 3.

Toyota's offer runs through Nov. 3 and will cover loans of 36 to 60 months, depending on the model. The qualifying nameplates are the Matrix, Corolla, Camry, RAV4, Highlander, FJ Cruiser, 4Runner, Sequoia, Sienna, Tacoma and Tundra.
 

$tinkle

Expert on blowing
Feb 12, 2003
14,591
5
i bought a few hundred sh of nissan 40% ago (when the "fundamentals were strong")

:puke:
 

ohio

The Fresno Kid
Nov 26, 2001
6,638
4
SF, CA
i bought a few hundred sh of nissan 40% ago (when the "fundamentals were strong")

:puke:
I've been sending the majority of my new investments international for the past year, thinking that would insulate me from this debacle. Result? Also 40% down for the year.