Chapter 11 for the Big 3?

Re: Chapter 11 for the Big 3?

PostBy: gambler On: Thu Nov 20, 2008 1:33 pm

coalmeister wrote:Anyone have a nineties Dodge minivan that did not blow the tranny at 75,000 miles? (Although my 2001 has been fairly reliable.)


I have a 2000 chrysler mini van with 148,000 on it and I am on my 6th, yes that is right 6th tranny. Several of those are factory new ones and the rest are rebuilds. The first tranny crapped out around 20k. The dealer rebuilt it. Then it went again at 30k. The dealer replaced it with brand new one. It went out around 70k.
gambler
 
Stove/Furnace Make: Leisure Line
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Re: Chapter 11 for the Big 3?

PostBy: traderfjp On: Thu Nov 20, 2008 1:53 pm

Gambler: Make note to yourself. The car must be stopped before engaging the tranny. :D A had a Toyots truck that went through 3 trannys. It was just a bad design. It happens.
traderfjp
 
Stove/Furnace Make: Alaska
Stove/Furnace Model: Channing 3

Re: Chapter 11 for the Big 3?

PostBy: Yanche On: Fri Nov 21, 2008 11:13 pm

There is an online essay titled "CORPORATE GOVERNANCE CASE STUDY, General Motors" that gives the history of GM and it's attempts at reforming itself. Many of the events I was aware of but this put things in perspective, especially the complicity of it's unions and local congressional members in avoiding any free market based reforms. Tells how Ross Perot's reforming efforts were thwarted. Before reading this I was on the fence about a bail out for the big 3. Now someone would have to make an sound argument for any public funded bailout to have my support. Read the full essay here:


http://www.ragm.com/books/corp_gov/cases/cs_gm.html
This link is broken, either the page no longer exists or there is some other issue like a typo.
Yanche
 
Stoker Coal Boiler: Alternate Heating Systems S-130
Coal Size/Type: Anthracite Pea


Re: Chapter 11 for the Big 3?

PostBy: stockingfull On: Sat Nov 22, 2008 1:51 am

Thanks for the link, John. I've spoken with even legacy union people who are dismayed with the self-destructive habits which Detroit has exhibited for the past 25 years: refusal to control the unions, refusal to develop new products, fighting the raising of CAFE and cleanliness standards, and on and on, all enabled by the oil industry, as well as Congress and Administrations who easily could have seen this coming but didn't have the foresight, or the stomach, or both, to lead.

My guess is that the boyz in the corporate jets won't be able to volunteer nearly enough when they come back on the 2nd to get the $. I say "volunteer" advisedly, since I believe a significant part of the reason is that they simply can't go in and "offer" to breach the contracts they have with the unions. The result is that they'll be going into Ch. 11 -- because that's the only to get to those contracts and reform them so the enterprises can survive.
stockingfull
 
Stove/Furnace Make: Yellow Flame
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Re: Chapter 11 for the Big 3?

PostBy: Yanche On: Sat Nov 22, 2008 8:10 pm

Does Chapter 11 filing wipe out shareholders stock value to zero? Or does it still have whatever value the market places on it?
Yanche
 
Stoker Coal Boiler: Alternate Heating Systems S-130
Coal Size/Type: Anthracite Pea

Re: Chapter 11 for the Big 3?

PostBy: traderfjp On: Sat Nov 22, 2008 9:37 pm

Yes.
traderfjp
 
Stove/Furnace Make: Alaska
Stove/Furnace Model: Channing 3

Re: Chapter 11 for the Big 3?

PostBy: coalmeister On: Sat Nov 22, 2008 9:56 pm

Yanche wrote:Does Chapter 11 filing wipe out shareholders stock value to zero? Or does it still have whatever value the market places on it?


Zero which will not be much of a fall from here...
coalmeister
 
Stove/Furnace Make: Alaska 140 Furnace -sold
Stove/Furnace Model: Harmon VF3000 -sold

Re: Chapter 11 for the Big 3?

PostBy: SAU On: Sat Nov 22, 2008 10:40 pm

As much as I hate to say it, let them fail. The problem with chapter 11 is that the same idiots who ran the companies into the ground will still be in charge. The same problem will exist with a bailout. How many times have we been through this with the airlines? I'd say it is safe to assume that if they are bailed or BKed, they will be back inside of three years begging for more just like AIG. In a free market there is no such thing as too big to fail. In just a couple of years, I hope the people will wake up and realize what a fiasco it is that we live in and start rooting out the simpletons who have allowed this country to drift so far from its foundings.
SAU
 
Stove/Furnace Make: Vermont Castings/Nordic Stove
Stove/Furnace Model: VIGILANT II 2310/Erik Jr. HH


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