Robert Nabloid

Business Decisions vs. Populist Rage

"This requires our politicians to not only be responsible with our money and ensure that they're making solid investments into the future (as opposed to throwing good money after bad), but to communicate with us properly so that we're aware of all of the facets of each situation, what the expected outcomes are and how the situation is being managed overall."

That is the problem... politicians responsible with money? Is that an oxymoron? They (politicians) are worse than the CEOs in most instances... as wasteful as some of those CEOs are, the politicians trump them every time. Actually, politicians make wasteful CEOs look good.

And communicate with us properly? Why does Bloomberg have to sue to find out where some of OUR money (2 T) is going? There has been no transparency with our money from the banker bailout! NONE!

The government has a program that is sort of a government funded bailout - it's called Chapter 11. Companies emerge from bankruptcy and survive and thrive. The unemployed also get help from the government until they can find another job. We have systems in place for a reason...

We can't afford to lose track of the real facts. Where does government get its money to bailout/loan/buy these corporations? It either prints the money out of thin air (an invisible tax on anybody that has dollars) or takes on more debt, OR it taxes us directly - Either way, WE pay. Here's a question for you: Who bails out the government if it gets in trouble?

Please don't forget who pays for these things, because it sure isn't the government. So, can we spend our way to prosperity? If that's the solution than we might as well all take our money out of the 401ks and IRAs and just spend it all...

Let's Hope the Auto Bailout Has Failed for Good

As for the price of wages. $20 an hour isn't enough for a grown man to support his family in most areas in the States. It's just not that much money. Compared to the rest of the world it seems like a lot - and is a lot - but in America, with the costs of everything being so high, you need to make over $20 an hour if you ever hope to own a home (mortgage free) and have a decent living - neither of which makes you "rich". I was under the impression that we wanted all our hard working countrymen to eventually have a comfortable middle class life, free of debt - which isn't happening.

The big price disparities between countries won't last forever with free and open borders and wages are being driven down - but with some inflation in certain items - the wages are also being driven up at the same time. Very odd set of circumstances but the one thing we can all agree upon is that middle class America is being squeezed. You need not look any further than the extraordinary amounts of debt Americans have taken on to attempt to sustain their lifestyles. This was all so unsustainable. You can't borrow forever. We shouldn't have to borrow forever. Sometimes it seems like the main difference between America and the rest of the world is the ability for its citizens to get big mortgages.

I find it funny that many praise the Japanese automakers for giving their employees low wages. It is necessary if you want free and open borders and it makes sense, but is it praise worthy? It's just inevitable, even the domestics have been doing it. The only difference is the domestics have legacy costs from a long time ago - a different time... How can you fault them for that? That said, I don't want bailouts... Chapter 11 exists for a reason and it would be helpful for the domestics to go through it so they can fully restructure their obligations.

I want someone to explain to me how Middle Class America first emerged. I didn't think it was purely based on debt, nor was it based on lowering wages.

Let's Hope the Auto Bailout Has Failed for Good

I agree with much of what you have said. The problem is, the Asians want the standard of living the Americans have - many envy it and strive very hard to achieve it. The system will repeat itself and future Asian's will eventually grow up in an environment much like the Americans and will also become complacent.

On Dec 13 08:10 PM Asians wrote:

> Americans have always been known to be better at manipulating Asians
> in money-related businesses. That's why Americans can still live
> way better and way beyond their means even though they are only good
> at "moving money around" and continuously inflate the national deficit.
>
>
> What's happening over the last decade is Asians like Chinese and
> Indians have become more educated and smarter to realize that Americans
> are not as productive in comparison as decades before and they are
> being pampered by the foreign debt. Decades ago, Americans were a
> productive country in the real sense until they've become to always
> way overstress the importance of the businesses of "moving money
> around".
>
> That's whay I learned and observed when I had my further studies
> in the States. This years and years of complacency amongst the Americans
> especially the young generations led to this financial meltdown in
> which the world is starting to realize that the businesses of "moving
> money around" must be analyzed based on the real merit and not analyzed
> based on the fact that they're businesses of "moving money around".
>
>
> Americans are trying to come out of this by ONLY bailing out with
> TRILLIONS of national deficit and foreign debt on the money-related
> businesses since they realize that their best way of maintaining
> the status quo (American is the no. 1 country in the world) is not
> to let these money-related businesses to go down. The big 3 are not
> Americans' bread and butter businesses anymore since Asians have
> become and will become much "better in all sense" at manufacturing
> businesses.
>
> As long as the Asians do not fully realize this fundamental fact
> of life, Asians can only rise slowly against Americans. Of course,
> these are watershed times where the wealth of Asians are steadily
> rising due to the complacency of Americans. They think they deserve
> the current standard of living when most Americans do not even care
> and understand about the world outside the States. They think the
> world revolves around them.
>
> Full economic decoupling between Asians and Americans would not happen
> since it's an interconnecting world out there. However, Asians are
> not experiencing full impact from the American-led meltdown since
> Asians have been steadily shielding themselves from external adverse
> impacts by developing their domestic markets.
>
> Believe me, the day will come when the Asians become so fed up with
> the lofty standard of living that the Americans were having in the
> past and are still having nowadays are never justified and the Asians
> will keep on slashing their country financial reserves from the American
> debt. Of course, there will be economic impact to the Asians themselves
> but do you think Americans can keep on being complacent and inflating
> the deficit to trillions and trillions of dollars? In the real sense,
> countries are like individuals. One cant keep on borrowing money
> throughout one's life without being "more productive in the true
> sense". Americans will continue to feel these excruciating pains
> until they truly realize that the world doesnt revolve around them
> only.

Could We Build Bridges to a Better Place?

I don't know how many of you are following the crisis that is hitting many states. I don't know how effective throwing money at various states for big infrastructure spending is going to help when many of these states are nearing bankruptcy and can't afford to maintain the infrastructure they already have. I fear we will see many states sell their already paid for infrastructure to private foreign owned corporations who then erect toll booths. I hope I'm way off.

Let's Hope the Auto Bailout Has Failed for Good

"Let's hope that the auto bailout has failed for good."

AMEN! I'm with you 100%. Chapter 11 exists for a reason. It's in the auto companies best interest to go into Chapter 11 and restructure all their obligations and come out the other end a lot more competitive.

Even with a bailout there were going to be massive layoffs since nobody is buying new vehicles.

Will the White House Bail Out Detroit?

The best thing the Whitehouse can do now is nothing. Stop giving money to Wall Street and don't give a penny to Detroit. Chapter 11 exists for a reason. That doesn't mean the end of Detroit - it just means they have to restructure their debt - which is probably in their best interest.

Satellite Radio Is Not Immune to Big Three Troubles

Haha. Maybe your local radio sucks. Thank god mine doesn't.

Either way, I like having choice. That's why I want satellite radio to be a profitable niche. I also want free radio with local personalities (I'm talking talk show hosts mainly) that are very good - and relevant - and free. I'm willing to listen to some advertisements (not that I actually listen) in lieu of paying.

BTW, I have satellite radio too. I have choice. I'd like to keep it that way. I guess I must be a freak.

On Dec 11 10:02 PM between the hedges 2 wrote:

> As for you Robert Nabnerd, you couldn't pay me to listen to the crap
> on regular radio, or should I say substandard media for advertisements
> and idiotic highschool drop outs that can't make it in a business
> with a future. Get a life freak.

Satellite Radio Is Not Immune to Big Three Troubles

Personally I hope the satellite radio stays a niche market and I do hope it is profitable. I think its great for those that drive long distance or live in mountainous areas.

That said, I don't want it to overtake regular radio - regular radio is FREE for the public, often employs local radio personalities and helps the local economy.

GM: More Bailout-Worthy than Citigroup

Yeah, I imagine they have a good chance of becoming gifts if things don't turn around on a dime like they "hope".

At present time it's not a bailout - but we are all acting like it is, and it will probably end up that way. LOL. Funny how that works.


On Dec 08 04:30 PM philipmax wrote:

> To Robert Nabloid posted 12/6 7:11PM
>
> Good points.
> Just to let you know why I have no compassion for the likes of GM.
> In 1947,when Tucker made his famous revolutionary vehicle, with features
> such as headlights that turned the corner with the turn of the steering
> wheel, it was only short lived.
> Tucker was forced into bankruptcy by the BIG THREE auto makers who
> threatened the steel mills with boycott if they supplied Tucker with
> even one pound of steel.
>
> What goes around comes around.
>
> The know-nothing congress will grant the "loans" which will in turn
> become gifts to GM & Ford.

GM: More Bailout-Worthy than Citigroup

Yes, I know. And the fact that people continue to call it a bailout also bugs me to no end. The bankers were bailed out. This is just a loan for the auto industry because the banks aren't loaning money.

That said, I wouldn't be surprised if the big 3 would be better off filing for chapter 11 and doing a COMPLETE restructuring and coming out of it a lot healthier.


On Dec 07 12:05 AM slowdown wrote:

> Just to clarify - GM is not getting a bailout...it's a loan that
> has to be paid back with interest. The banks on the other hand are
> getting bailouts and they shouldn't.
>
>
> On Dec 05 04:48 PM Robert Nabloid wrote:

Big Three Bailout: Not Like Japan's Automakers in the 90s

I think we already lost the decade if you look at historical stock prices.

What else is at stake as a result of this slippery slope is the bigger question.


On Dec 10 04:02 PM Matthew Rafat wrote:

> Thornton: despite all evidence to the contrary, you've somehow interpreted
> my article as support for the $800 billion banking bailout. In fact,
> Congress's bailout of the financial companies is what created the
> slippery slope allowing the Big Three to demand taxpayer money.
> Sadly, it appears we are following in the footsteps of Japan, which
> may cause our own "lost decade."

GM: More Bailout-Worthy than Citigroup

I have to agree with User 303820 on some of that.

A lot of Americans are living in the past and still believe nothing has changed in Detroit - primarily because they haven't been driving new domestics recently... The Domestics cleaned up their act on the quality and efficiency front. Those that say otherwise are living in the past. Yes, Detroit had plenty of problems in times past and it has angered a lot of customers who will never buy another domestic... I guess people also forget Japanese quality early on didn't exist either and it hurt a lot of people - but people gave them another chance to clean up their act.

Either way, the Detroit brand has been diminished due to the actions of the past. Yes, Detriot makes superior cars/trucks at the moment but too many Americans already gave up on them from their errors in the past that cost them a lot of time, money and hassle. It isn't hard to see it, just read the above comments.

But this discussion should be focused on if they can sustain themselves like a normal corporation - not on whether they make a good product or not. Tucker made an awesome product - much superior - but where is he today? Many corporations have made better products and still failed to thrive.

Many of the bailouts for bankers are not in the form of LOANS, but are handouts. As long as we only give the domestics LOANS that are repaid with interest, I see no issue with allowing it to occur - this is a special time with banks not lending - and we bailed the banks out and they still aren't lending... Why can't we loan the domestics some money for a short period of time until the whole financial industry gets its act together? It's only a loan. If it's a handout - then scream "NO!" from the top of your lungs. If it's a loan - with interest- then that is a different story - especially at special times like these.

GM: More Bailout-Worthy than Citigroup

Amen!

I live in a cold dark place. People die on the roads, especially those that buy the little death traps to "save money" on gas.

What they fail to realize is this: The 2 Mode Hybrid Chevy Tahoe—a full size SUV that seats seven with great towing capability—gets the same highway gas mileage as a Toyota Camry and received Green Car of the Year at the LA Auto Show.

On Dec 05 05:34 PM Tony Petroski wrote:

> The author wants the automakers to produce more hamster-wheel "hybrids"
> and the like because the SUV was "a Frankenstein monster and only
> created because of government meddling." I am very happy to be driving
> a Ford Explorer and would buy another one. It's snowing here, damn
> cold (please dear Lord give us some global warming), and the last
> time I passed the gas station, gasoline was $1.63. Here's an idea:
> you buy what you want, and I'll buy what I want, neither of us will
> subsidize the other, and we will remain free people for a little
> while longer.

GM: More Bailout-Worthy than Citigroup

"GM: More Bailout-Worthy than Citigroup"

Yes, it is. But no bailouts should happen, ever.

Why Bailouts Are Not the Answer

Finally, like minded people who realize failure is vital to success. Success can't exist if failure doesn't also exist.

We don't live in a capitalist society - we live in a socialist one. It's been this way for a long time. No go convince the rest of the population that socialism has failed us and we should try our hand at capitalism! BTW, most of the general population thinks capitalism has failed - they're blaming the wrong system.

"None are more hopelessly enslaved than those who falsely believe they are free."

Johann Wolfgang von Goethe