Quote:
Originally Posted by Jammer
Interesting math Mech. Wow.
50,000,000 cars with a profit of $1,000 each.... MAN!
And yet they talk as if their dream car will have to be sold at a LOST for awhile at least. Shesh.
Like I said, I continue to enjoy my Chevy..... But I am seeing less and less hope for this company to be able to ever repay such a large amount of money. No wonder so many call it a bailout instead of a loan.
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50,000,000 at 1000 each just pays off the principle Jammer.
Another 20,000,000 to pay the interest.
Anyone want to loan me 50 billion for 15 years without any interest?
I would build a car that would really change the game forever.
Chrysler was bailed out in the mid 80s to the tune of 1.5 billion.
They paid the load off with interest in a few years.
Lee Iacocca ran the company and they came out with the K car and the Mini
Van.
About a decade later Mercedes paid 38 billion for Chrysler and loss their butts when they sold a large part of their stock.
If you think the retirees lost a lot of money in GM's bankruptcy Jammer, you should look at what the shareholders lost.
Much of that stock was held by retirement funds.
What did they get?
Squat.
You must remember the song that went;
Tax the rich, feed the poor, until there are no rich no more.
We like to hate the rich, but in doing so we also hurt those who did all the right things only to see their financial security vanish.
Many retirement funds lost 70% of their assets in the market tumble from a high of 14k to the low of just over 6300.
We like to trash the oil companies, but you should really look at who owns the oil companies.
For every dollar the oil companies earned (ie worked for) the govt got 4 dollars out of gasoline and corporate taxes, and they didn't even pay the oil companies to collect that tax.
The Boston Tea Party was fought over a tax of 3%. When I was working at my shop, if I made more than $25k a year I paid 49.5% Federal, State and Social Security.
That doesn't include property taxes, local sales taxes, car registration taxes, or the meals tax at restaurants here that is over 10%, or any other of the numerous taxes that I can't even remember, like taxes on your utility bills, cable tv, and even the tax you pay on your internet connection.
Even at that exorbitant rate the govt still couldn't balance their checkbook., so they spent the taxes they had not collected.
If you or I did that we would be in jail.
regards
Mech
PS:
That same 50 billion invested in making cars more efficient would have solved the efficiency problem altogether. People would be lining up at the dealerships to buy cars that got at least twice your 45 MPG, and the American auto industry would be opening factories and hiring hundreds of thousands of people to keep up with demand.
We would stop bleeding between 200 and 600 billion dollars to the oil cartel and that same money would be in this country promoting economic growth and creating millions of real jobs.
My first attempt to contact a manufacturer was with GM. They chose to ignore any input. In doing so they dug their own grave.