Showing posts with label auto bailout. Show all posts
Showing posts with label auto bailout. Show all posts

Friday, July 31, 2009

Customer service at the new Government Motors

Mary Katherine Ham at the Worldwide Standard:

I wanted a Chevy Camaro.

I'd never really liked American sports cars before. But the 2010 Camaro -- a revival Chevrolet has been talking up since 2006 -- is so much more sleek than your typical muscle car. And since my BMW 330 started showing its age (nine) around the same time that the death of the U.S. auto industry hit the headlines, I thought: Why not do a little something to help?

So, after seeing a newspaper ad promoting Camaros at a local Chevy dealer, I called and left a voicemail saying I was interested in a test drive.

I never heard back...

It doesn't end there. Read the rest here.

Tuesday, December 16, 2008

Bankruptcy would help American auto makers, says Nobel Prize-winning economist

Nobel economist Gary Becker:
Bankruptcy would strengthen rather than weaken the competitive position of the American automakers, especially when combined with government debtor-in-possessor financing. The bankruptcy proceedings would likely break the union contracts and reduce their pay to levels comparable to those received by American employees of foreign car manufacturers. They would also break the contracts for health payments and pension obligations, which have been significant factors in causing their financial distress. Bankruptcy would also help the companies restructure their debt so that interest payments are much lower.
Read the rest here.