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GM Spirals the Drain (Part 2)

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  • God, you're such a ******.

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    • Bailouts
      People who vote for bailouts

      I want the full list of retarded senators, not just the half who are only somewhat retarded...
      <Reverend> IRC is just multiplayer notepad.
      I like your SNOOPY POSTER! - While you Wait quote.

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      • People who can't quote properly
        "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
        Ben Kenobi: "That means I'm doing something right. "

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        • The Swedish moderate/liberal coalition government has issued a 3 billion US$ bailout for Volvo (Ford) and SAAB (GM), as long as the money stays within the Swedish borders and are not used to save American stockholders. I'm not sure I support this.

          A company managed by idiots deserves to die. Screw the jobs, even if it's my neighbours (Volvo is a huge employer in my area). If it happens, I will buy a Toyota or some cheap Chinese brand next time. I just might anyway, perhaps a used Lexus.
          So get your Naomi Klein books and move it or I'll seriously bash your faces in! - Supercitizen to stupid students
          Be kind to the nerdiest guy in school. He will be your boss when you've grown up!

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          • Buy a Honda. Resale value FTW
            <Reverend> IRC is just multiplayer notepad.
            I like your SNOOPY POSTER! - While you Wait quote.

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            • Buy a Honda. Resale value FTW


              I like Honda's outboard engines, but I'm not so sure about the cars.

              I normally drive a SAAB 9-5 Aero from 2000, but as 2nd car, I have an ancient Toyota Corolla I inherited from my dad when he died in 1991, and last time, it went through the mandatory security audit without a single complaint. I get several letters per year from at least 3 different companies saying "we want to buy your used Toyota, no matter of its condition, to give it a second life in Africa". But we will probably keep it until it breaks down completely. It's a really ugly POS, but it works and it does the job, so there is no reason to get a loan for something new and better.
              So get your Naomi Klein books and move it or I'll seriously bash your faces in! - Supercitizen to stupid students
              Be kind to the nerdiest guy in school. He will be your boss when you've grown up!

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              • From what I hear, both Toyotas and Hondas are great. From personal experience, I can attest that Mazdas are also rock solid.

                Japanese styling has been poor, but they haven't been so bad lately. Your preference may vary, of course.
                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                • Honda cars have by far the highest resale value (as a % of original value) of similar autos (small main market sedans), at least in America. The Civic sells for something like 80% of its new sticker price after 3 years, which is insane given most cars lose 20-30% the moment you drive them off the lot. (Resale value is assumed to be the market's opinion of long-term quality, at least by me.) Nissans actually usually rank second, IIRC, with Toyotas third (by a bit). But this is from the last time I researched this (2006) so it could be different now, certainly.

                  edit: Hmm, I overestimate my memory. A 2005 Accord at EOY 2007 (3 years, as 2005 model year is before EOY 2004) retained about 60% of its value, which put it second among cars of its class, behind the mini cooper (which is somewhat more expensive). The Accord did a bit worse, at 57%. A few cars ranked higher than the Accord, but they were luxury cars, or trucks, and the Toyota Tacoma. I don't know how badly the economy is affecting resale values; these seem much lower than the 2006 values, but it's been 2 years and my memory is not that good apparently...

                  http://www.cars.com/go/advice/Story....ct=best_resale was the story I read, if you want more details. Mini cooper definitely surprised me - I don't recall that showing up on my lists in 2006.
                  Last edited by snoopy369; December 12, 2008, 19:31.
                  <Reverend> IRC is just multiplayer notepad.
                  I like your SNOOPY POSTER! - While you Wait quote.

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                  • After thinking about this awhile, I'm just supremely disappointed in Bush's actions. I don't even understand how he makes his decisions. How can you trust someone who works on pure expediency? How can he say no to the next industry that holds the gun to head of the government, promising depression for the economy if it's not paid off?

                    I don't blame anybody for not giving this administration the second half of the TARP money. There's just no telling what they'll do with it.
                    Last edited by DanS; December 12, 2008, 21:02.
                    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                    • Bush is a turd sandwich.

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                      • So is the TARP copout a sure thing? Or even already done? So far I've only heard a statement of intention, but I guess since this is part of the discretionary first half there's no way to stop it...
                        Unbelievable!

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                        • Not a sure thing yet. I think there's something like $15 billion left from the first tranche.

                          There would be value in holding up the automaker bailout to threaten the Dems to give him the second tranche (and other things too). I could understand the horse trading. But Bush doesn't even have the balls to do that. He just rolls over to the Dems' special interests.
                          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                          • The TARP participation criteria clearly state "financial institutions...established and regulated" under U.S. law, which would clearly include banks, mutual funds, insurers, etc., and might reasonably be extended to more questionable things like hedge funds, and would even include Big-3 financial arms like GMAC, but there's no reasonable interpretation under the sun that would include a manufacturer.

                            I'd bet that if someone sought an injunction and took it to the SCOTUS, the Executive's TARP disbursement to a manufacturer would be shot down for lack of express or implied delegation, but who would have standing to file in the first place? Not Honda in America unfortunately, but what about a congressman or senator? Besides, since the Big 3 are burning cash at such a good clip, all $14 billion would probably already be gone before a court would even hear the challenge.
                            Last edited by Darius871; December 13, 2008, 00:17.
                            Unbelievable!

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                            • .
                              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                              • He has the authority because the report includes all sorts of specific language about the automakers. "Revised and extended" after the fact, mind.
                                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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