Comments on: Bailout Watch 235: 20 Questions Congress Should Ask Chrysler, Ford and GM

By: TireGuy

TireGuy — Fri, 05 Dec 2008 00:18:40 +0000

EJ_San_Fran :
December 3rd, 2008 at 8:46 pm

Mr. Wagoner, for a long time your market share has been declining by a percent per year and is now down to only 20%. Is your viability plan still viable if that trend continues?

Actually, the plan is not viable if the trend continues. GM admits so much. Its own plan assumes that it will even have a market share growth of 0,5% in the next two years. LOL

By: ronin

ronin — Thu, 04 Dec 2008 10:35:07 +0000

Gentlemen, instead of talking about the cuts you will make if taxpayers give you money, why haven’t you made them already? This includes the UAW. If you are really serious about saving your company, these seem prudent steps to take regardless. Why only now do you come up with these ideas? What other ideas have you not yet come up with? If you have come up with new ideas in two weeks, why won’t you have even better ideas in January?

By: jkross22

jkross22 — Thu, 04 Dec 2008 06:24:13 +0000

Great comments all, but we’re all going to be treated to another round of Kabuki theater tomorrow.

Good times.

By: jnik

jnik — Thu, 04 Dec 2008 04:20:16 +0000

Mr. Nardelli, why isn’t someone from Cerebrus here to answer questions why Chrysler’s owner would rather use taxpayer money instead of its own to shore up Chrysler?

By: tulsa_97sr5

tulsa_97sr5 — Thu, 04 Dec 2008 03:47:23 +0000

Cheese and rice, if they actually asked them all these questions it would be, well, almost as honest as getting my first mortgage.

Anyway,
27. assuming that this is just the first round of requests and that you’ll be back to ask for more several times, can you guarantee that 50 billion each is the absolute maximum you’ll need to become profitable again.

(hope this isn’t a double post)

By: DR. XO

DR. XO — Thu, 04 Dec 2008 02:58:48 +0000

Great thoughts!

But….A tad bit late! The great American heist has already taken place!!! Anything more is just the frosting on the cake!!!!

By: John Horner

John Horner — Thu, 04 Dec 2008 02:30:37 +0000

Mr. Nardelli: Your company is owned by a hedge fund which is one of the wealthiest organizations in the world. Why isn’t your owner fronting the bridge loans you require?

By: windswords

windswords — Thu, 04 Dec 2008 02:05:04 +0000

Mr. Mulally, why should the taxpayers loan money to a company that is for intents and purposes owned and controlled by one family?

By: dwford

dwford — Thu, 04 Dec 2008 01:59:34 +0000

As a Congressman, I would also demand to personally see the state of design for each of the future products mentioned in these reports. I don’t care if the car is still in sketch form with an approved list of attributes, I want to see that the words in the documents aren’t total bullshit. If Chrysler really has 24 new products coming – prove it and show me! If GM really has 15 new hybrid vehicles coming, name them and give me their intro dates. Let me drive the prototypes. Ford’s EV sedan and van – show me! if they are coming in 2011, I should be able to drive the mule and see the finished clay design.

By: dwford

dwford — Thu, 04 Dec 2008 01:54:51 +0000

24. Mr Nardelli, why should the taxpayers loan money to a private company owned by a hedge fund?

25. Mr. Wagoner, your plan does not include any specific products passed the 2011 model year. What is your product replacement schedule for current products, and which product do you intend to end production of?

26. Mr. Mulally, if these 2 bozos go bankrupt, which suppliers do we need to loan money to so they and you don’t go bk also?

By: Billy Bobb 2

Billy Bobb 2 — Thu, 04 Dec 2008 01:54:03 +0000

The public asking of ten, five or even two of the above questions would indicate a reasoned, intelligent pre-loan inquiry.

Which this ain’t.

By: EJ_San_Fran

EJ_San_Fran — Thu, 04 Dec 2008 01:46:15 +0000

Mr. Wagoner, for a long time your market share has been declining by a percent per year and is now down to only 20%. Is your viability plan still viable if that trend continues?

By: Happy_Endings

Happy_Endings — Thu, 04 Dec 2008 01:38:42 +0000

23. Is the amount you’re asking for today the final amount? If not, what is the total amount?

By: Rix

Rix — Thu, 04 Dec 2008 01:34:16 +0000

21. In the event of a bankruptcy, will the severance agreement still be effect?
22. Are there monies set aside in any bankruptcy remote fund/financial vehicle to pay severance?

By: TireGuy

TireGuy — Thu, 04 Dec 2008 01:29:52 +0000

Wagoner is too smart to really answer these questions. Same response to be expected as for the privat jet last time: long silence.