SwissTony

iTrader: (19)

Torquemada

dpb

whos buying Subaru

bullitt_Lynz

lmao

Gear Head

iTrader: (2)

Two fingers back up to them!

BBC NEWS | Business | US car bail-out fails in Senate

tanyatriangles

iTrader: (2)

Bail-out's NOT going to fail, they employ too many workers and they know it

THAT'S why the unions have stuck out for no wage cuts, because they know that after Bush said they couldn't be allowed to fail, they won't be.

BTW: DID any British banks caught up in the sub-prime fiasco get any of the American bail out money? They were supposed to be going to.............

Gear Head

iTrader: (2)

why can't they simply put money away when times are good for **** sake. It is totally wrong that they can hold the world basically to ransom.
How about they let the industry fail and just pay the money straight to the unemployed?

Eddie1980

This is what happens after years of mergers and buyouts, all your eggs become one, and in just the single basket...

Personally I would let them go under, yes it'll hurt like hell, but it gives the smaller boys room to breath and develop.

tanyatriangles

iTrader: (2)

Yeah, but Eddie, they employ so many people, what are THEY going to do? and with their buying power gone, other companies will fai8l. Imagine Scun thorpe without Corus? How many left employed? And after a year or so, how many shops, stores, car dealers etc etc

Petem95

But you can't just keep on bailing them out with borrowed money! They need to totally restructure.

The worrying thing is it's basically not really economically viable to mass produce cars in Western countries anymore... infact all Western countries really do is consume manufactured products from developing countries - paying with essentially borrowed money.. the wheels seem to have come off this wagon however, and god knows where this is all going to end now...

Gordo

Agree wholeheartedly - if only our wondrous government had followed this logic as well.

Eddie1980

I have been round the Corus site, technically so many bits of it are in different hands since British Steel the core business is not that big any more, in fact they are not the biggest S****horpe Employer, I think there still in the top 10.

Yep your right without them a while bunch of people will be out of work and other company's will fail, generally the ones that sprung up when the steel industry sacked the own staff in favour of outsourcing, generally at the expense of the workforce.

I don't have much compassion for the big company's I has to be said, mostly cos these days there run by asset stripping smarmy men who care only for there own pockets at the expense of everything else. I am not being a down trodden person here, I have meet some of the owners of the towns biggest employers, and I can tell you I'd not leave any of them unattended in a room with my wallet.

So yes it'll hurt, but your choice is pat them on the back and give when some cash so they can continue screwing the people below them in order to line there own pockets, or don't. I guess the honest worker looses either way but for how long do you nurture something so riddled with death??

Klaatu

When I worked for Honda in the early '90's, there was over-capacity in the industry then. Thatcher's conservative Govn't paid, and the Govn't is still "paying", Nissan to make stuff. I am not surprised about this bialout plan, but I am not sure it'll work TBH.