China Now General Motors' Biggest Market (vehicles, joint, 2013, credit)
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GM and its Chinese joint venture partners saw sales surge by 10.6 percent during the first half of 2013, to nearly 1.6 million vehicles, an all-time record that positions it as the booming Asian nation's No. 2 automotive manufacturer. It sold just over 1.4 million vehicles in the U.S. during the same period.
Quote:
Today, nearly three of every four vehicles the company produces are sold outside the United States, according to GM data.
Question is next time GM looks for corporate welfare, are we still on the hook?
Well, next time our banking industry takes a nosedive from bad real estate investment, and causes credit to dry up for manufacturing companies, yes, we may be on the hook, like last time, if we don't want unemployment rates to rise to middle double digits.
You're another that really has no clue what happened back in '06-08. GM, Ford, and Chrysler weren't facing bankruptcy due to mismanagement or bad product (all three had turned therio product around years before and were making great strides). What they were facing was teh inability to get credit to run th emanufacturing business, liek bug manufacturers get annually. Ford mortgaged the house to get most of the credit it needed before the banks had their major failure, so they only got a little bit of TARP funds. GM and Chrysler hadn't secured their annual credit at that time.
The bailout, started under Bush, was to fix the problems that the banking failure caused in our manufacturing industries. The automakers were not the only ones hit by the credit failure, nor were they the only ones to recieve bailout monies. And don't be fooled, ALL the major car manufacturers recieved monies.
And if the banks continue on their old ways, we may see that failure happen again.
Well, next time our banking industry takes a nosedive from bad real estate investment, and causes credit to dry up for manufacturing companies, yes, we may be on the hook, like last time, if we don't want unemployment rates to rise to middle double digits.
You're another that really has no clue what happened back in '06-08. GM, Ford, and Chrysler weren't facing bankruptcy due to mismanagement or bad product (all three had turned therio product around years before and were making great strides). What they were facing was teh inability to get credit to run th emanufacturing business, liek bug manufacturers get annually. Ford mortgaged the house to get most of the credit it needed before the banks had their major failure, so they only got a little bit of TARP funds. GM and Chrysler hadn't secured their annual credit at that time.
The bailout, started under Bush, was to fix the problems that the banking failure caused in our manufacturing industries. The automakers were not the only ones hit by the credit failure, nor were they the only ones to recieve bailout monies. And don't be fooled, ALL the major car manufacturers recieved monies.
And if the banks continue on their old ways, we may see that failure happen again.
So their dependency on borrowed money while running with billions in losses for years it is now to be blamed on banks???
Do you honestly believe that without feds intervention to clear the "bad debt/toxic assets" GM would've been in same shape as today?
Well, next time our banking industry takes a nosedive from bad real estate investment, and causes credit to dry up for manufacturing companies, yes, we may be on the hook, like last time, if we don't want unemployment rates to rise to middle double digits.
You're another that really has no clue what happened back in '06-08. GM, Ford, and Chrysler weren't facing bankruptcy due to mismanagement or bad product (all three had turned therio product around years before and were making great strides). What they were facing was teh inability to get credit to run th emanufacturing business, liek bug manufacturers get annually. Ford mortgaged the house to get most of the credit it needed before the banks had their major failure, so they only got a little bit of TARP funds. GM and Chrysler hadn't secured their annual credit at that time.
The bailout, started under Bush, was to fix the problems that the banking failure caused in our manufacturing industries. The automakers were not the only ones hit by the credit failure, nor were they the only ones to recieve bailout monies. And don't be fooled, ALL the major car manufacturers recieved monies.
And if the banks continue on their old ways, we may see that failure happen again.
I've read a lot of bull**** on this site, but this one takes the big steaming pile.
Funny how you make no mention of the ridiculous UAW pensions that GM was strong-armed into promising.
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