Edie

I loved the red and blue records -- my sister and I used to laugh that we should listen to the red, white and blue records in that order. I remember my oldest brother brought home the white album when it was brand new -- I was 8 -- and we just were in shock about how different these beatles were getting (and looking!) even from the Revolver record only two years earlier -- or Sgt Pepper only one year earlier. The poster that came inside was rad... The only song I will not tolerate is Rev #9. I just skip past it. Sexy Sadie is one of my all time favs, as is Everybody's Got Something to Hide

In actuality, the "crisis" that has hit the big three hit the crisis point over the summer. Before that, they were doing OK -- restructuring and retooling for more fuel efficient cars -- and not in this severe cash flow position they are in now (GM and Chrysler are worse off than Ford right now). The double punch of the fuel prices then the credit crunch has reduced the number of new cars forecast to be sold this year from 15+M to 11M -- nearly 1/3 fewer. That's why they are asking for low cost loans -- to get them through the first Q of next year (while making huge cuts -- Chrysler cut anot

Now I am self-conscious about how un-self conscious I should be. Damn you NYT!

I am certainly all for creative solutions here. All I know is that the loss of GM scares the crap out of me.

Not dead yet. From Automotive News

Well then shouldn't they get some of the money if they feel they need it? Pretty big strings attached. I am saying that because most banks would avoid the money like the plague if they didn't need it.

I assume you know that Ditech is part of GMAC -- and that GMAC is pretty heavily involved in mortgages.

Yeah, Chapter 11 is going to be awesome. And GMAC is 51% owned by Cerberus who also owns Chrysler Financial and Chrysler. GMAC probably will get bank status -- Goldman Sachs did.

GON needs to close this one. We can start a new transition thread!

Who are you again?

I like the Riches. I just saw it's not coming back

Spawn's dad = gershon = gsteinb = gary steinb = lansman. And I had a friend Julie Lieberman (no relation I don't think) who we all called Leibs.

I assume you are talking about the Lieberman thing. Liebs himself said that it was the intervention of Obama that kept his job for him. Like the Clinton appointment, this signals the effective tactic of keeping your friends close and your enemies closer. Seems like Liebs owes O a favor, doesn't it?

What has been driving the market for US vehicles is cheap loans with no down payments, so people have been trading up to negative equity for years. So many people are underwater on their auto loans -- I think we have a stat that more than 35% of people who have a car loan are upside down (though don't quote me -- I need to look it up). So now they can't trade them in because they can't get another loan -- so traffic is way down in dealerships across the US. And you are right about T and H being smart and manufacturing and selling high quality, high mileage vehicles. However, I can argue tha

The perfect shit storm of the market today is the issue. They could survive any one of these, or even two, but all three at the same time are a catastrophe. 1. Meltdown of the capital market -- they can't borrow money right now by selling stock -- they are too "risky" 2. Meltdown of the consumer credit market -- they can't sell cars as fast. This includes the leasing market, which has largely disappeared since residuals are almost impossible to predict 3. Rapidly shifting consumer demand -- Yes they were addicted to the big profit truck/SUV, and you can say "their cars suck" but remember tha

Zen Student: What is Buddha? Zen Master (as they walk through a forest): Dried shit on a stick

coughexperiancough

Point 1: You clearly don't know me. Moreover, I am in the USED car business, by and large. Point 2: Do you really have the stomache to find out what it would be like if the big three went out of business here? As has been stated by those who actually know something about the car business, Chap 11 is not really an option for a maker of an item that people buy for use for 4+ years. Would you buy a GM vehicle if it were in Chapter 11? Right. And "massive restructuring and downsizing" is worse than it going away completely? Point 3: I would tell you to go F yourself, but I am above that. Real

The point is we are trying fix the problem before it gets to where unemployment was in 1932 -- 2.5 years after the initial market crash. And you could argue that the "terrorist issue" is much worse for our national psyche than hitler/fascism was in 1931.

We have many more safety nets today, so it doesn't look/feel as bad. But the near collapse of our financial system was not an illusion.

And I like the song Malibu. It's pretty good.

Certainly he is facing a similar magnitude in fucked-upness as FDR. Interestingly, Clinton himself said that in order to be considered a great president, you have to face great crisis (which he did not). Needless to say, you also need to perform well in the job during great challenge to get the gold ring. We shall see how Obama does.

I think he's just doing it to get out of Chicago in January "Southern hemisphere here we come!"

I would love to see this as long as it doesn't suck. I give it about 50/50 on that criteria.