elcopone's Comments Stream Stats
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The Case for Making Bigger Cars
Car versus Trucks, big versus small is an irrelevant conversation when you're not even on the buyers radar. The buyers (for many, many years already) have been telling the Big 3 that all your products are terrible, your quality stinks, styling is ugle, resale values are awful, materials are bad, technology is lacking, fuel efficiency is awful, and the dealership experience is well, let's just say it's an experience. Yes, the F-150 sells, but that is purely out of customer loyalty, not because of superior product.
The big 3 have done virtually nothing to address these issues. They do the opposite. They arrogantly say they don't understand why the consumers say these things and act this way. It's the media, it's not us. It's the economy, it's not us. It's the UAW, it's not us. It's Japanese protectionism, it's not us. If they had ANY product that the consumer actually wanted they would have no problem. So actually, yes, it is YOU. Instead of shedding brands like Dodge, Buick, Mercury, etc. that clearly have no value in the auto industry of today, they are buying Hummer, Land Rover, Saab, and Mazda. They really don't get it at all. They are a model for poor management, egotistical and arrogant leadership (not to mention plain old stupid), and overpaid executives.
Obviously I think a bailout is a complete waste of funds. The fact that only now is Wagoner's job in jeapordy, is an indictment of the entire board at GM. This guy has lived more in Washington in the past 7 years than he has in Detroit. Bankruptcy would be a blessing for GM. They need to shed brands, dealers and their managment team that has lead them here.
Ford doesn't need the money and is in better shape becuase they have wised up (somewhat) in recent years. So why should we the Gov. give them anything they didn't need anyway?
Chrysler, as far as I'm concerned if Cerberus is not willing to inject anymore capital into Chrysler (which they have), why should the government or taxpayer? They should be left for dead andscooped up in chapetr 11 as is so common in the private equity business. Oh the irony.
The Manipulation of Gold Prices
The Autos and Mentality That Ruined Detroit
By the way, if you don't want the foreign companies profits going overseas, guess what, they don't have to! There is this thing called the stock market where you can buy a piece of any public company you want (called stock). And guess what, if that company has a dividend policy, the profits of the company actually go to you. So go buy some TM (Toyota), and the profits actually do come back to you.
On Nov 16 08:56 PM dixie wrote:
> GM is a great community citizen sponsoring many cultural and charitable
> causes in SE Michigan.
>
> The Asian transplants don't give back. They take American dollars
> and send them to their overseas owners.
Detroit: Please Bring Back the Stripped Car
Detroit's Biggest Failure: Losing the Youth Market
Additionally, I must disagree on the +2000 analysis. American cars already sell at 2000 DISCOUNT to comparable Japanese cars! Blaming price is more of the same arrogance that got the Big 3 into the position they are in. Why is it that CAT can be the best manufacturer in the world of their products depsite being American? I'll tell you why, it's all about the product!
Your "strategic readiness for war" is a laughable argument at best. When was the last time an american AUTO company made an F-18??? Last I checked, wars were fought in the air. Additionally, the used auto market alone would enable America in wartime. Also, Isn't GM producing more and more in Canada, Mexico, and China anyway? How does that help "strategic readiness"???
Bottom line (which you missed), as always, it's all about the product. When you have a great product, all other problems fix themselves. Design (interior and exterier), long-term quality, fuel effficency, everything has lagged behind the Japanese and Europeans for 20 years now. While GM still hasn't figured out how to make a stylish car people want (have you seen ANY Pontiac recently???)
Customers are won and lossed on product and product alone, not lineage.
The Autos and Mentality That Ruined Detroit
- Over-building and then never down sizing their dealership network
- Not killing brands when they should be killed (and making it worse by adding brands)...see Oldsmobile, Buick, Pontiac, Saturn, Mercury, Dodge, Hummer, Mazda etc...
- Dumping vehicles to rental companies, thus cheapening the brand and lowering residual values
- Incentives and pricing. People are now trained to expect major incentives from the Big 3.
- Finally, PRODUCT, PRODUCT, PRODUCT if these companies had cars/trucks people actually want to buy, there problems would be much less severe. Seriously, if there is more than 2 cars in the combined Big 3's lineup you get even remotely excited about I'd be surprised. Even when they do a hybrid, they can't get it right (See: Tahoe, Mariner, Escalade)
A bailout of these companies is a disgrace to capitalism. These executives have been a textbook of what not do. Using the economy as an excuse for their incompetence is disgraceful. This bankruptcy has benntwo decades in the making.
'The Shallowest Generation': A Rebuttal
Having said that, I would like to hear your rebuttal to that now that you got you reading comprehension staightened out.
Why "Drill, Baby, Drill!" Does Not Translate Into Effective National Energy Policy
Financials: How - And When - We Reached the Bottom
Meet Mr. Market: Jim Cramer
"Todd currently presides over a long-only asset management firm, which he founded in 2006. Using a value-driven approach, Todd oversees over $32 million in separately managed accounts" Wow $32 million! You are a great success! I wonder what your performance has been like to garner a whole $32 million?
Wait, wait, wait, I get it now... You're bitter cause Cramer is out there for the little guy and makes self-proclaimed money managers like you useless! You probably watch his shows to get ideas for own fund!
Meet Mr. Market: Jim Cramer
- Jealous of Cramer for his success
- Doesn't understand what Cramer would say about his own mistakes and what he tries to do with his show
- Has no clue how an investor/trader would use Cramer's show
- Secretly works for The Motley Fool
- Secretly works for the Chinese (Cramer insists on calling them Communists and is not recommending any China stocks at the moment)
- Secretly works for News Corp. (Parent to FoxNews)
- Is so bitter that he will actually spend time trying to discredit someone else without even providing his own credentials
- Has no interesting ideas of his own so he is relegated to trying to discredit others
- Thinks he will gain publicity for himself by making unsubstantiated claims against a popular money manager
So Todd, which one is it?
Restricting So-Called Speculation Is a Fool's Game
Preparing for the Fall
If you are so sure the market is about to tank, then why not recommend shorting the market??? The fact that you recommend cash and not shorting clearly shows that you don't even have enough confidence in your own theory to invest in it!
3 Expected Post-Election Changes - No Matter Who Wins
Martin: You layed out the downside very well it true pessimistic style, how about the upside?
Wind Is In - Cramer's Mad Money (5/27/08)