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40 Comments
- xcheats, on 02/07/2009, -1/+11I just got hired at the beginning of the year. (Salary - Not Overpaid Union Line Worker) I'm not going anywhere. No worries.
- scamper22, on 02/07/2009, -0/+9He is doing what freedom and capitalism allows you to do. It allows you to express your support/disaffection for a company/policy by not giving them money.
Some people don't shop at wal-mart
He won't buy GM/Chrysler for taking tax payer dollars. - mparker21311, on 02/07/2009, -5/+14I'm buying Ford/Foreign for now on. They didn't take our tax dollars.
- secrity, on 02/07/2009, -0/+8What is wrong with buying Fords? I like my Focus.
- srusting, on 02/07/2009, -1/+9Don't let the 13 year old economists bitching about their parents tax dollars get you down, man.
In the end, the Big Three will prevail. - rowlodge, on 02/07/2009, -1/+9i really am surprised that ANY car company can even sell 1 car in this country.
- skabossphil, on 02/07/2009, -2/+9Toyota has no worries. I owned a 94 camry with over 300k miles and the only problem I ever had was it needed a new radiator put in. They have some of the best gas millage and have been the top car company for 10 out of the past 11 years for a reason. Their older trucks, like the 80s models can have 500k miles put on them no problem and their engine won't bat an eye.
Best car choices ever. - xcheats, on 02/07/2009, -4/+11(Insert rant about how American cars are junk and how GM and Chrysler stole U.S. taxpayer dollars here)
/Sarcasm. Proud employee of General Motors. - nerddtvg, on 02/07/2009, -4/+10That's funny, American car makers have posted losses many times before... Yet another lesson to learn from Japan.
- inactive, on 02/07/2009, -1/+7WTF are you talking about? Ford didn't take the Bail Out and Foreign cars are produced here in the US, while "American" cars are made in Mexico.
- inactive, on 02/07/2009, -0/+5?
Should we also learn how to mire ourselves in a decade long economic malaise? - inactive, on 02/07/2009, -2/+7*Toy Yoda
- DownIsTheNewUp, on 02/07/2009, -0/+5"The economy is strong."
- inactive, on 02/07/2009, -0/+5The difference is Toyota isn't in trouble, they're simply reporting the inevitable results of a collapse in demand.
GM and Chrysler are on the brink of insolvency due to years of mismanagement and reliance on SUVs to generate profit. - ajsmth, on 02/07/2009, -2/+6They took all your money and gave it all to the CEO who goes and buys a billion dollar mansion or something like that....
- inactive, on 02/07/2009, -0/+4Up until 2007, that's what the consumer wanted.
- inactive, on 02/07/2009, -0/+4Used cars keep lasting longer and longer, so there is less incentive to buy new anymore.
- inactive, on 02/07/2009, -0/+4They will say that in the big boy world, its possible for a company to have more than one problem that is affecting their ability to turn a profit. They would be right too.
GM was in trouble before the economy took a down turn, Toyota wasnt. This just makes things worse for GM, and piles on the problems they were already having. - mingscians, on 02/07/2009, -0/+3There are so much used cars available in the warehouse now. Even dealers are cutting prices. This is good because those who have limited resources will be able to purchase cars at very low prices.
http://usedcarsale.wordpress.com/2008/12/11/the-mo ... - multiformat, on 02/07/2009, -0/+3January '09 car sales. Only three car companies were up in sales: Hyundai, Kia and Subaru.
http://www.autoblog.com/2009/02/03/by-the-numbers- ... - acudoc, on 02/07/2009, -1/+3A "Modest" Proposal to Prevent Blood in the Streets
1) As of January 1, 2010, the Federal Reserve Notes (FRN) of the United States, coins exchangeable for FRN, all deposits in the United States redeemable in FRN, all securities backed by the United States Treasury, are redeemed in new paper money, the American Freedom Note, in suitable denominations, on a one-to-one basis, or as checkable deposits in the United States denominated in American Freedom Notes.
2) As of Jan 1, 2010, the fractional-reserve banking system of the United States is declared null and void, and the creation of new money by the assumption of debt, i.e. the legal empowerment provided for in the Federal Reserve Act of 1913 to create money without consideration in exchange for signed promissory notes to banks or their various institutions in the Federal Reserve Banking system, is outlawed.
3) All persons, institutions, or enterprises (including banking institutions) having collateralized debt denominated in FRN to banks or other allied institutions empowered legally to lend on a fractional-reserve basis, are absolved from such debt and immediately acquire 100% ownership of any and all assets associated with promissory notes signed by such borrowing entities. The release from this debt is not accompanied by creation of any American Freedom Notes for the parties released from such debt.
4) As of January 1, 2010 all persons, institutions, or enterpises holding promissory notes that are directly associated at the time of their issuance with tangible assets, and which constitute liens on these assets (factories, farms, businesses, land, inventory, etc.) are reimbursed for the loss of these interest-bearing assets by the creation of a quantity of American Freedom Notes, or checkable deposits denominated in American Freedom Notes, equal in value to the value last assessed for these assets prior to Jan 1, 2008 under standard accounting procedures. No further issuance of American Freedom Notes is allowed beyond this initial injection needed to protect all persons or enterprises holding promissory notes.
5) Loans made from the pool of newly-created American Freedom Notes are subject to interest rates freely agreed to only by the contracting parties and are not to be set by government agencies. All loans are made only from the fixed pool of American Freedom Notes, effectively ending the practice of fractional-reserve banking. Governments at all levels seeking loans to balance budgets not completely covered by taxes must receive all monies from this new pool of capital and are not empowered to create money by borrowing from a fractional-reserve banking system. Payment for United States taxes at all levels of government are to be made in American Freedom Notes.
6) As more and more goods and services evolve under the American Freedom Note economy, a natural deflation will occur due to the fixed nature of the money supply. - stoney, on 02/07/2009, -1/+3I bet it has something to do with the tens of thousands of Toyotas sitting at the Long Beach Port....?
- inactive, on 02/07/2009, -1/+3I consider them overpaid when they have a jobs bank program.
- gfryesc, on 02/07/2009, -0/+2Interesting, how can that be with the europeans and canadians pissed about his 'buy american' clause in the stimulus bill and India telling him he's barking up the wrong tree over kashmir.
- spriggig, on 02/07/2009, -4/+5I'll be buying a new car in about 18 months, I hope they can hold out till then.
- jfreeman, on 02/08/2009, -1/+2Because you believe everything the media tells you?
- anthstaf56, on 02/09/2009, -0/+1More bad news from Japan today, Nissan, Japan's 3rd largest car maker, cutting 20,000 jobs and expecting full year loss. Japan is in really bad shape.
- BotchaMcCoola, on 02/07/2009, -2/+2No pity on any of these big businesses. They did not do enough to stop Bush with that war nonsense over a terrorist crime. Remember Germany ruining itself over the Archduke's assassination in WW1? When you don't stop halfwit leaders much of the world will suffer for 2-3 decades.
- keno8719, on 02/07/2009, -2/+2MR2 FTW!
- Bloodwine, on 02/07/2009, -3/+3I think the automotive market will be in for a hurt for years to come.
First, easy credit won't be back for quite some time. I'm thinking at least a decade (long enough for most people to only vaguely recall the dangers of handing out loans to everyone). This is going to put a dent in both auto sales and home sales for quite some time.
Also, as people lose their jobs or tighten their belts to stay afloat, they are going to try and maximize their purchases. If you think about it, it was a bit silly seeing people switch out cars every year or two. That was a bit excessive and was never the norm before. We'll go back to long-term auto ownership. Drive that puppy until you are using duck tape to keep the window up and a clothes hanger to keep your transmission from dropping out.
Toyota will survive, but they will be a victim of their success. Their vehicles are superb and long-lasting. - Taiyoryu, on 02/07/2009, -4/+3No, you buy the car that best meets your needs at the price you're able to pay regardless of who makes it. If GM or Chrysler manages to pull a rabbit out of a hat and either one makes that car, then you're just foolishly passing on a vehicle that you'd be happy with. That said, buying new comes with a premium over buying used.
- sat0shi, on 02/07/2009, -6/+5Have fun in the bread lines.
- jdenton88, on 02/07/2009, -5/+4If it wasn't for all those overpaid union workers!!!
/s - joe8pack, on 02/07/2009, -7/+6So much for blaming everything on the UAW...wonder what Rush and his little army of dildoheads has to say about this?
- BESTenemy, on 02/07/2009, -5/+3 Are you insane? The whole reason Ford still exists is because 20% of their sales are happening through contracts they don't have to compete for - tax subsidized government fleets, car rental shops, municipal couriers etc.
What cars does your local police drive?
They have been on tax money life support longer than any of the competing brands. They are in no way different from Chrysler or GM. Cut the tax money and they'll be dead within a year. - inactive, on 02/07/2009, -4/+2If they sold smaller cars like people wanted instead of all those SUVs, this wouldnt be happening!
- vade79, on 02/07/2009, -5/+2Well, i don't buy american overall because they have a horrible history of failure (my old ford escort's transmission failed for example)... however this guy's logic of not buying because of them taking tax dollars is complete idiotic, that'll show them by making your tax dollars used for nothing and continuing the worsening of the economy, you show them mparker...then they'll have to do something else to take more of your tax dollars to fix the problems... Weird how the majority of people agree with this idiot too, there isn't a whole lot of thought behind this rabble-rousing, and while i know this is digg...i expect at least a little foresight.
If ford/gm made a car that had a reliable track-record like the honda civic/toyota corolla i would have been game. - inactive, on 02/07/2009, -6/+2American cars are junk.
- MacEnvy, on 02/07/2009, -7/+3That's stupid. Seems you'd want to do your part to raise the debtor companies profitability so they could pay it back. Buying one of their cars is a good first step.
- LavaWarrior, on 02/07/2009, -15/+3It's because of idiots like you that your economy is in the tank.
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