DeLorenzo socks it to ‘em (or, “Give ‘em hell, Pete”)

4 Responses to “DeLorenzo socks it to ‘em (or, “Give ‘em hell, Pete”)”

1. Stéphane Dumas

   I read it and the best part is “on the Table” section a quote from Ron Tomkin owner of various dealerships around Portland in Oregon, the AE quote of the week.

   “If Detroit ‘closes down,’ then thousands are out of work and no one will buy Toyotas or anything else. “

   Comment on Oct 29th, 2008 at 8:12 pm   
2. mprbrce

   CLICK! This is kinda off topic but the light bulb just CLICKED!!!!

   GM is after Chrysler’s $12B in cash, and GM is asking the Govenrment for $10B so why does it need Chrysler? I think what press said is true, the media is blowing this out of proportion. Was it a major story when Nissan made an offer for 20% of Chrysler? Heck no! They want the market to crash and everybody to be broke! The media is to blame here.

   Comment on Oct 29th, 2008 at 9:27 pm   
3. John_Hagen

   Yes, Virginia, there are people that understand that the American automobile industry is essential to our very survival. Maybe twenty or thirty of them. Certainly no more than that.

   I cannot understand how supposedly intelligent citizens of our once great country can say the hell with Detroit and its workers. One in fourteen workers will be out of work. One in fourteen. This weekend, when you are attending what ever services you prefer, take a look around at your fellow congregation. How many are there? One hundred, two hundred, more? Lets pick 280 because it’s easy to work with. One in fourteen means that twenty of those people will be unemployed. That’s twenty more than are already unemployed. Care to guess how many are currently in you religious community are un-employed? Or under-employed? Oh yes, that too. Auto workers make actual living wages and have decent (not great, that’s long past) medical benefits. The vast majority of jobs created in the past few years have neither. Nor much of anything else. We, that’s you and I folks, have been sending our factories to Asia for years.

   And where are Bush, McCain and Obama in all this (yeah, it’s ok to lump them together, they are really all the same anyway)? Well now there is some talk of giving Cerberus between five and ten billion to help it close down Chrysler, saddle GM with even more unmanageable debt along with additional product lines of which it already has too many. And in so doing hasten our economies slide ever closer to the morass of depression that will make the thirties look like summer camp.

   Our astute government must wake up and look at what is going on here besides an election. Yeah, that’s important too but our country is in dire straits and no one seems to notice.

   Something must be done. Not a knee-jerk reaction to threats by one of our major money changers. So what if this deal doesn’t get done by November 4th? This is a major problem that will not go away by buying out and closing one of the alleged “big three”. Real thought and intelligent actions must be used to assure that our government does not toss all it’s bailout bucks into a black hole. The only one to benefit from the current proposal is Cerberus. GM will NOT benefit, Chrysler will not benefit, Ford will not benefit. You and I will not benefit. But Cerberus will rid itself of major debt and receive millions of additional funds from the impending mortgage bailout through its (by then) wholly owned GMAC division.

   Six more days and maybe then cooler heads will prevail and our legislative leadership just may be able to make some educated plans on how it should precede to assist in salvaging one of our once great industrial giants.

   If that doesn’t happen, we may as well hands the keys over to Toyota, Honda and BMW. The axis will finally have won.

   Comment on Oct 30th, 2008 at 2:01 pm   
4. james

   Well said, John.

   Comment on Oct 31st, 2008 at 12:29 pm