Romney: Let Detroit Go Bankrupt

if Detroit is counting on the car ind. to save them they should go bust.


the pop. of the US doubled since the 50's, Detroits has been cut in half, get a clue. Democratic gov. in action.
 
This guy claims he knows how to create jobs-------poofookinleeze!



U.S. auto sales are on pace for the best showing since 2007 and a third year in a row of at least 10 percent gains, only the fourth such streak since the Great Depression, as more confident buyers return to showrooms.

Automakers are adding overnight shifts and cutting workers’ vacations to meet demand.

Sales this year might reach 14.3 million cars and light trucks, equal to the first-quarter pace, according to estimates from 14 analysts compiled by Bloomberg. It would be the best full year since 16.1 million in 2007. The same analysts in January were expecting sales this year of 13.6 million before Toyota and others exceeded projections.

“Even if we stay where we are, it’s a pretty good year,” said Brian Johnson, an industry analyst at Barclays Capital in Chicago, who is predicting full-year U.S. sales of 14.4 million.

The improvement helped General Motors, Ford and Chrysler to first quarter profits that beat analysts’ forecasts even while deliveries fell in Europe.

First-quarter deliveries in the U.S. ran at the strongest pace since the same months in 2008, when sales started at an annualized rate of 15.4 million before collapsing to a full-year tally of 13.2 million, said Kevin Tynan, a Bloomberg Industries analyst.

Sales in the U.S. fell to 10.4 million in 2009, the lowest since the end of the 1982 recession. They improved to 11.6 million in 2010 and 12.8 million last year

And they shouldn't have had to rely on tax dollars to get there.
 
Auto sales are on pace for the best showing since 2007.

Ohhhh yeahhhhh.

May auto sales disappoint; demand slows - Yahoo! News Canada

DETROIT (Reuters) - Automakers posted strong U.S. May sales gains from a year ago, but the sales rate still fell short of expectations as the broader economy softened and gave pause to consumers mulling big-ticket purchases.

The annual selling rate in May finished at 13.8 million vehicles, the first month this year under the 14 million pace and far short of the 14.5 million expected by economists polled by Reuters.

The sales results, when combined with Friday's anemic U.S. jobs report, suggested the industry could face hurdles in its recovery from a recession four years ago that dragged General Motors and Chrysler into bankruptcy. Among the automakers posting disappointing results on Friday were GM, Toyota Motor Corp <7203.T> and Chrysler.
 
Reduce corporate taxes and payroll taxes and we would see manufacturers come back to the states. Plus, healthcare bill does not exactly entice businesses to settle in America.

The health care bill lowers taxes on businesses.... so basically your talking out both sides of your ass

images
 
But the manufacturers were doing ok with high corporate tax rates back before trade deals allowed them to offshore.

Reduce corporate taxes and payroll taxes and we would see manufacturers come back to the states. Plus, healthcare bill does not exactly entice businesses to settle in America.
 
no romney wanted gm to fail. Its amazing how stupid and brainwashed you are

bullshit...

Complete bullshit.

In a NYT op-ed entitled “Let Detroit Go Bankrupt,” Mitt Romney argues that Congress should let creative destruction do its job.

IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.

Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.
 
Auto sales are on pace for the best showing since 2007.

Ohhhh yeahhhhh.

May auto sales disappoint; demand slows - Yahoo! News Canada

DETROIT (Reuters) - Automakers posted strong U.S. May sales gains from a year ago, but the sales rate still fell short of expectations as the broader economy softened and gave pause to consumers mulling big-ticket purchases.

The annual selling rate in May finished at 13.8 million vehicles, the first month this year under the 14 million pace and far short of the 14.5 million expected by economists polled by Reuters.

The sales results, when combined with Friday's anemic U.S. jobs report, suggested the industry could face hurdles in its recovery from a recession four years ago that dragged General Motors and Chrysler into bankruptcy. Among the automakers posting disappointing results on Friday were GM, Toyota Motor Corp <7203.T> and Chrysler.

Because, when we interpret events, we alway consider what didn't happen as being real and what did happen as being a fantacy. Right?

What did happen, the fantacy...

-Automakers posted strong U.S. May sales gains from a year ago.

-The annual selling rate in May finished at 13.8 million vehicles.

-the first month this year under the 14 million.
(that means the other months were over 14 million, for those that have a hard time intpereting "what did happen".)

What didn't happen, the reality....

Oh, wait, I'm confused. what didn't happen is the fantacy....Doh!!
 
They should have let them go bankrupt. Just because you file for it, doesn't mean you close your doors forever. They would have reoganized, went back to work and, according to the OP, had a good year and the taxpayers wouldn't have had to foot the bill.

Romeny is right, the left are wrong.....again.
Only people who completely missed the biggest financial crises ever think that they would of been able to reoginzate and that is the problem is that republicans cant think beyond addition and subtraction

Yeah, I can see why you are a democrat.

Because not so brain dead to miss the biggest financial panic the world has seen. Yea thats why im a democrat. Its amazing how people like can't even remember what happened 4 years ago
 
Reduce corporate taxes and payroll taxes and we would see manufacturers come back to the states. Plus, healthcare bill does not exactly entice businesses to settle in America.

The health care bill lowers taxes on businesses.... so basically your talking out both sides of your ass

images

It is amazing how to republicans reality is propaganda.
If obama said the world was flat you;d rush and call it propaganda
 
Only people who completely missed the biggest financial crises ever think that they would of been able to reoginzate and that is the problem is that republicans cant think beyond addition and subtraction

Yeah, I can see why you are a democrat.

Because not so brain dead to miss the biggest financial panic the world has seen. Yea thats why im a democrat. Its amazing how people like can't even remember what happened 4 years ago

holy smokes...:cuckoo:
 
I don't think anyone missed the financial panic, i think we underestimated the financial fallout

what would have been the dif bettween the bailouts, and short term (Volker) nationalization of the banking and automotive industry i would ask....


~S~
 
heres the nub of it; Detroit employee public pension obligations equal over 80% of what their present payroll is to working public employees...so, in effect the are paying 8 people for every 10 at least 50% of a salary ( I'll bet its higher too) and they do not work, so combing the outlay per person, they are carrying 4 extra employees at no gain what so ever, 10 get paid and 4 are at home.

And of course like every other pension system in troubled states they used bloated return figures for their pension investment returns, upwards of 7, 8%.....they must fund the shortfalls and the future commitments, its a recipe for disaster and Mr. Disaster is knocking at the door.
 
lol, without Obama the auto industry would BE GONE

good gawd, any more dramatic and bull

I think what you meant withouts US TAXPAYERS obama couldn't have bailed GM and saved his buddies in the Unions.

the hell if we got nothing for it

If Republicans had their way, we would have gotten something all right. A new "great depression".
 
Dodge went bankrupt. It was the best thing to happen to the company.

wow, I don't how they did that without Obama "saving" them..
sarcasm off

Dodge never went bankrupt. They sold off their Chrysler Group.

Don't you ever bother to looks stuff up before you "agree" with it? You sit in front of the Internet. When you do that, do you know how it makes you look? Not that you care.

And about Chysler's bankruptcy:

Federal Bankruptcy Judge: Bailout Was Only Way to Save Chrysler - ABC News

GOP front-runner Mitt Romney insists, &#8220;It was the wrong way to go,&#8221; and that General Motors and Chrysler should have gone through &#8220;a private bankruptcy process.&#8221;
But Gonzalez, who retired from the federal bench on March 1, told ABC News: &#8220;One thing is clear, without government support in one fashion or another, there were no sources of funding.&#8221;
Gonzalez, now a law professor at New York University, said Chrysler &#8212; then the weakest of the Big 3 automakers &#8212; did not have the ability to secure financing on its own and &#8220;it was not generating sufficient cash to operate without an outside source of financing.&#8221;

-------------------------------------

Why can't Republicans understand this? Not even Bain was willing to invest.
 
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Detroit is 82% black. It's going bankrupt no matter what we do. How can a city function when most of it's residents are illiterate drug addicts and welfare bums and criminals.
 
Only people who completely missed the biggest financial crises ever think that they would of been able to reoginzate and that is the problem is that republicans cant think beyond addition and subtraction

Yeah, I can see why you are a democrat.

Because not so brain dead to miss the biggest financial panic the world has seen. Yea thats why im a democrat. Its amazing how people like can't even remember what happened 4 years ago

The world has ever seen?

How very like a leftist to think the 'world' is the United States of America. Clue: It isn't. And... if you want to see a real financial panic.... take a look at Greece.... or maybe Spain... or Italy. Idiot.
 
It is really simple. The gov got involved with loans to Chrysler and GM because no other organization would. That included Bain Capitol. So, it could go bankrupt, but it would not reorganize. Just sell off assets. And Ford stated that if GM and Chrysler had not been bailed out by the gov, they would probably not survive because of the expected downfall of their supply chain. So, there went a couple million jobs, after all or the multipliers were considered.
So, Romney said let them go bankrupt, but now claims that the government bailout was his idea. Does not pass the giggle test. Had they gone bankrupt, we would have no auto industry and millions fewer jobs. Without the gov, there would have been no reorganization.

This does not take a brain surgeon to understand. Just simple historical fact.
 
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