Detroit automakers at the brink as oil surges »
Posted By DiffeeOnline 1 year, 7 months ago in StyleFor two years, U.S. automakers have told investors, creditors and workers to remain patient with a wrenching, industry-wide restructuring because a turnaround was just around the corner.
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FirePro9111 year, 7 months ago
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HAHA! Good to see the big three taking a hit from the price gouging greedy oil industry.
Maybe they should invest in the big three oil companies as it seems they are continuing with record profits off of the backs of working Americans.
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mark-stevens1 year, 7 months ago
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They're like general mangers of pro sports teams... one stupid idea after another.
All of the auto manufactures are still making 400hp cars and 12 per gallon SUV's
T Boone Pickens, oil billionair "the world is consuming 87 million barrels a day, only 85 million barrels can be pumped a day."
T Boone just bought 160 wind generators, he's starting his own electric company.
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quackpot1 year, 7 months ago
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The Big Three were at the same brink after the late 70's oil crisis. At that time the U.S. tax payers provided a huge bail out of G.M.
The Resopnse of the Big Three was to intensify production of gas guzzzling hogs.
Now, the hens have come home to roost and the Big Three can only offer an unaffordable nest.
Although the big three do have good technologies to offer, the fact that these technologies have been a side light while SUVs have had main stage will make it difficult for the big three to remain big.
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keyfitter1 year, 7 months ago
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I guess the automakers have the same amount of foresight as our worthless politicians in Washington. None. Building expensive gas guzzlers seemed more profitable than taking into account that oil is a non-renewable resource and planning accordingly for the future that is now.
The 1973 oil crisis should have been a good indicator of things to come, but stupidity and greed overshadows all.
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Harbeas1 year, 7 months ago
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Let's not be too quick to slap the auto industry. They built the big ugly monsters(suv, ute, minivans) because they public wanted them. However, the auto industry has always suffered from short term intelligence. But again, that's how their bonuses are awarded....for short term results. They got so wrapped up in the truckamania that they ignored to car. The foreign manufactueres did not.
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Justice4All1 year, 7 months ago
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The worlds automakers are making record profits. Except for the big three US manufactures who seem to think SUV's will be back soon. It probably didn't help much either when the US government wanted to boycott products from all countries that did not support Bush in his war. Apparently boycotts work both ways.
The auto industry is going just fine, everywhere but the US. But when gas goes back to a buck a gallon you can bet the big three will be saying "see we told you so". Unless they are wrong and gas does not go back to a buck a gallon:)
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