http://wardsauto.com/blog/detroit-s-worst-mistake-everOf if you want to cut to the chase or not click:"Detroit auto makers wasted at least $50 billion during the past two decades in failed efforts to impress Wall Street and raise their stock prices"
Yeah, a lot of stupid moves, but $50B over two decades for the three automakers pales in comparison to the capital budgets over that period. C'mon......a couple billion a year across those three companies? Pffft!Rob
$50B over two decades for the three automakersOr to put it in other words, a week of il-advised trading at Morgan Stanley.Doug
Or one fat fingered flash crash !James
Or about 2 weeks of increasing national debt. Ralph
Well, at least it did not land on all us taxpayers.... except for GM, ouch, Cryster, I mean fiat urk! maybe this all ends well said the incurable optimist. Long F the taxpayers friend.
"Long F the taxpayers friend."Even Ford would have been screwed if their suppliers were left without a propped up GM etc and they were clear about that when Ford (Mulally et al) went to Congress with GM and Chrysler in 2008 to call for a federal rescue.Just sayin' - lets keep it real.B
Perhaps. Another one of those "unknowable assumptions" because it didn't happen. AND if in two or five years we (us taxpayers) don't lose 20 or 25 Billion on GM and Chrysler produces net revenue (I'm a Skeptic, ha) I will have to eat crow. But for the moment, I am overall of the opinion (dang few facts in yet) that F will cost us all a lot less, and might well have benefited had GM not been "overly propped up" with money from the rest of us. Maybe the suppliers would have moved heaven and earth to keep their ford business and cut inefficiencies and costs out that they have yet to do? Just a thought.And in terms of keeping it real, Mulally is a shrewd bird I suspect he had a plan B ready to go if the rescue did not go forward. Was he better off for the rescue? I would guess HE thought so at the time, but we will never know. Seems a good indicator of thoughtful and capable management at F
"Perhaps. Another one of those "unknowable assumptions" because it didn't happen."It's what Ford was worried about & testified to Congress - file under just sayin'B
Yup. Better than guessing blind, worse than observable fact. Ken Lay testified to Congress there was no market manipulation at Enron too, along with a dozen other bits I can recall where someone intentionally lied and others simply were wrong. Doesnt make it so... but it is useful to me to be reminded that the CEO of Ford was astute enough to be worried about it even as he worked on an alternative strategy to being chained to the US government. hmmm, and can GM ever get untangled from the web its in, how will that affect F's future completion? A profitable conversation, thanks
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