US Big 3 ask for $34bn dollars...

"In its submission, GM said that... it would continue its efforts to develop more fuel-efficient vehicles - including an investment of $2.9bn in alternative fuels" MORE FLEX VEHICLES???!!!! What about "electric" or "hybrids" ?????

ON THE OTHER SIDE OF DETROIT....
"Ford's recovery blueprint said it would invest $14 billion over the next seven years to boost its vehicles' fuel efficiency, and it said it would improve the overall efficiency of its fleet by an average of 14 percent next year. The company plans to speed its rollout of electric and hybrid gas-electric vehicles.
And Ford is calling for a partnership among automakers, parts suppliers and the government to develop new battery technologies domestically, so the U.S. doesn't have to rely on foreign batteries — as it now does on foreign oil — to power its cars"

"Chrysler's product plan includes the first full-function electric-drive model in 2010 and expansion to additional models by 2013. The company's market penetration of electric-drive vehicles will further increase with over 500,000 produced by 2013, the blueprint said."

Congress eyes Big Three automakers' survival plans - Yahoo! News
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This is interesting ... the videos of the three CEOs reading their [first] plans before Congress. When you go to the link, scroll down the column on the right and first watch the video titled "Ford's Mulally Testifies to House". Full-screen works great.
THE THREE CEOs WILL BE IN WASHINGTON AGAIN THIS THURSDAY AND FRIDAY.

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It's OK, I'm not easily offended. ($53bn Aussie)

 

Here's download links for the submitted plans...

http://www.scribd.com/doc/8598852/Ford-Restructing-Plan-as-submitted-to-Congress

http://www.wxyz.com/media/news/1/3/d/13d0680a-d1e6-4cf9-9a22-dcfc4547d31f/ChryslerPlantoCongress.pdf

http://www.freep.com/assets/PDF/1202gmplan.pdf

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Last month they were asking for $25billion. This month it's $34billion. Sounds like the goverment. It's always going to cost the tax payers double what they said it would cost and take twice as long.

Like my 14yr son said to me a few weeks ago, "Dad, I don't want to be paying for their poor decisions. Every company eventually fails. Besides, if they had a GREAT product, they wouldn't be in this situation."

 

So your 14 year old is an expert on automobiles and the industry? Does he understand what his future will be like without an automobile industry or heavy manufacturing? Does he want to learn how to speak Chinese?

At 9 million vehicles a year, much more than $34 billion will be needed. You will see the US slide close to a depression and many nameplates leave the US. I predict that even toyota will freeze all production plans including the Toyota Prius plant in mississippi.

 

The manufacturing base of domestic auto manufacturers is going to downsize with or without federal welfare. Paying 10 Billion a month to keep it afloat a little while longer is insanity only a hypocritical self-serving republican could say with a straight face.

Ask the USSR how propping up companies "to big to fail" worked out for them.

 

Like any salesman, they will say anything the customer wants to hear to close the deal.

Congress wants contrite ? No problem

 

Yeah, like what?

- Go Yellow?
- "Two-mode" hybrid"?
- Bigger-than-ever SUV with Two-mode hybrid so it use just a tiny little bit more gas than a normal-sized SUV?

Wake up, Ford! All you need is to license the HSD from Toyota (you already did!) and put it in EVERY SINGLE vehicle you make. Then you will have a lot more good hybrid choices for your potential customers.

 

If it was that easy and profitable, tell me why toyota has not already done it? After all most of their non-hybird lineup trail Chevy when it comes to mpg.

 

So that's $110 per American citizen?

 

Unfortunately it is "peanuts" compared to what it will cost if Detroit is allowed to fail.

 

Funny that most Prius drivers are perceived as being liberals and the democrats are in favor of giving Detroit the money, and the Republicans are mostly against it.

 

The Republicans are "free-traders" even though "free-trade is a text book theory only. It is sad.

 

When the house is on fire is the wrong time to be thinking about getting fire insurance.

The U.S. (including the automakers) have been outsourcing jobs for years, sending our manufacturing to China, India, Mexico, etc. all in the name of the almighty dollar.

And now you're going to be worried about nameplates leaving the U.S.?

It's a little late in the game, I think. If the concern has been about nameplates leaving the U.S. then we should have been taking action years ago, every step of the way thinking about our national well-being and ensuring that pieces of the nameplate weren't being outsources to offshores.

 

First of all you are terribly wrong about US companies outsourcing, yes it has happened but not even close to the scale that cars and parts are imported form japan and korea.

As far as nameplates, I mean Mazda, suzuki, Mitsubishi, land rover, aston martin, Jaguar, not just Us nameplates.

The scope of the outsourcing is urban legend. and has been promoted by guess who? Toyota is importing almost 3 billion a month from Japan....that is the fact, stop with the bs. Wow Toyota will import more this year than the Us companies are asking for......coincidence? Still trying to figure out how that is "moving us forward". I guess we need them to define who us is?

 

Malorn, I'm not suggesting that the U.S. automakers are solely at fault here. I'm frustrated with many things that have been outsourced, most famously just a couple of years ago, our very own Chief Executive of the United States of America, President George W. Bush, was advocating the outsourcing of our port securities to Dubai!!!

As a nation, businessmen, politicians, etc. have methodically changed our collective thinking to rely on cheaper offshore labor and resources, rather than focus on innovation and doing with what we have. Instead of working smarter with fewer pennies, we decided just to let someone else innovate how to get the job done with fewer pennies, and accept that as good enough, even if it meant loss of American jobs, loss of American capabilities, etc..

We're complacent and complicit in our own demise. And I'm afraid I don't agree with you that investing big $$$ to save this one industry will save America.

 

I sold a Dodge truck last year. A good old American truck right? It was made in Mexico. This looks like it was outsourced to me. The only people it benifited in the USA was the CEO, the top brass, share holders, and local dealer. I don't see how it benifited the US auto worker.

 

Pop quiz: What do the following airlines all have in common: Delta, Northwest, United, UsAirways/America West, Air Canada? Chapter 11 bankruptcy.

The management of the big 3 has failed, needs to be fired, and the companies need to be relieved of the appallingly short sighted and poor contract decisions that management committed them to. Chapter 11 is the well worn path to achieving that. There is little to no doubt that at least one, probably two, of the big 3 will emerge better off in the long run. And for the companies that don't make it through, if their workers require welfare and retraining, lets cut them the check directly rather than letting their proven-inept managers skim a cut off the top first.

The US is not well served by socializing an industry that cannot survive due to blatent incompetence (ranging from not forseeing increasing gas prices all the way to not spending even a fraction of their lobbying budget to get universal healthcare to relieve their retiree burden). I don't think giving them a short term patch of cash with the ugly strings of Congress making critical decisions (probably badly, as much as I'd love to see ev's required) about future products will work.