CarDealer123

Say No to the Auto Industry Beggars

I am a Chevrolet Dealership Owner. I was having a really good year until the dredit markets froze and wall street collapsed. The arrogance of you people is beyond belief. I have yet to hear ANYONE working on Wall Street take ANY blame.

Anybody who makes their living on Wall Street and didn't see this coming 4-5 years ago is an idiot or turned a blind eye to it.

The fact is, the mortgage brokers came to the underwriters with bad paper. The underwriters FAILED to adequately assess the risk. This failure to adequately assess the risk was caused by laziness, ignorance or greed. In most of these cases, the risk was known and deliberately mis-represented to investors. You "Wall Streeters" couldn't wait to earn the commissions selling (misrepresenting ) what you knew or should have known were very high risk investments.

In a nutshell, the underwriter's lied and the "wall streeters" swore to it.
And now, all you "wall streeters" want to talk about is where is my next commission comming from.

Well, here's a news flash - NOBODY TRUSTS WALL STREET ANYMORE. That's why no matter how much money the FED puts out there, WALL STREET cannot be trusted with it. That is why the credit markets are still frozen despite the huge infusions of cash.

I guess the really funny / sad thing here is that you guys (Financial Advisor) just don't get that YOU are the ones we don't trust.

I predict that Wall Street will suffer a 20% or more decline in employment in the next 12 months. It will be intersting to see what your MBA in finance is worth in the real world outside of Manhatten.

Just How Sensitive Is the Economy to the Auto Industry?

Why has no one in the press pointed out that GM paid 37 Billion in Federal Taxes last year in addition to the federal taxes paid by their employees?

Is a 12 Billion loan request really all that unreasonable?

To verify: www.gm.com/corporate/i...

A Modest Proposal For The U.S. Auto Industry: Stop Building Cars

Ahhh...the ignorance of youth. You all sound like intelligent people, but too inexperienced in life to realize that all your theories never work like you planned and too many variables exist at every turn. You want what you want at the price you want to pay without regard to reality and are so quick to criticize and condemn that which you know absolutely nothing about. That's OK, you're young it's supposed to be that way.

The one real thing I hope you will come to understand is that companies who out source everything never create long lasting value and cannot survive long term. When you outsource you lose control, you put your fate in the hands of others. You only create temporary jobs. Contrary to popular belief, businesses exist for great social reasons than just making a profit. Profit is necessary for the continuation of a business but it is not the sole reason for it's existence. I assume you have a job, what is stopping your employer from moving your job overseas? Surely it could be done cheaper by someone else.

Are the Automakers Silencing Ad Supported Media Criticism?

I don't think any manager at any company has a problem with accurate reporting and professional journalism, but when your company has been bashed repeatedly by pseudo-journalists jumping on the bandwagon and spreading mis-information and lies about your company, you can only ignore it for so long. The problem has gotten so bad of late that these companies - the detroit 3, have to stand up use what power they have to put a stop to it. Its one thing to report the news and another to spread rumours. Here's a quote from one of the big three news anchors - "GM has ignored the market, built gas guzzlers that nobody wants and hasn't invested in new fuel saving technology" - Nothing could be further from the truth. Just how do you get to be the worlds largest automaker building vehciles nobody wants - in 2007 some 9.4 million "nobodies" bought GM vehicles. Concerning investments in fuel saving technologies - GM spends more in research and development of fuewl saving technology than any other manufacturer world wide - bar none. As for gas guzzler's - GM and Ford and to a much lesser degree Chysler Dodge are the ONLY full line manufacturers. The only ones who build commercial trucks in the 3/4 and 1 Ton range - these vehicles contribute to the overall average corporate fuel economy. Obviously if you are Honda, who doesn't build anything that's considered a truck by cafe standards you will have the highest CAFE numbers.

So if the reporting is fair and the truth is told you won't hear any of the detroit 3 complaining or pulling their ad dollars - it is you pseudo-journalists who spread the lies and untruths that do harm to this country and it's economy. If you want to know where all the money is that GM has earned - The GM pension fund has asset values in the range of 100 BILLION dollars.