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#21
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Detroit Three executives
HLS wrote:
> > "Tim" > wrote in message news:57561$492c5f44$cef8ac46 > >> Maybe you should phone the president and let him know. You would have >> saved the country $800 Billion in additional money that they are going >> to use to unfreeze the credit market. >> Tell the president there isn't a problem because your daughter just >> got a loan. > > If you would read the post, you would realize I posted nothing about my > daughter. > > The two posts are intermingled. Get your head out of your ass. > > The credit market here in the midwest is not as bad as in other areas.. > That is > a fact, at this point. OK, sorry about the comment about your daughter. That being said, I really wonder how you would know that? Is it from the newspapers or how? |
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#22
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Detroit Three executives
"HLS" > wrote in message ... > > "Tim" > wrote in message news:a3654$492b3204$cef8ac46 > > How many times has Paulson changed his mind about what he is going to do? > > The reason they need the loan is obvious. There is a credit freeze > > caused by the banks. > > The companies have other problems but this is what has caused them to go > > to the government for loans at this time. > > > It makes no difference. At this time, Paulsen is the "bull goose". > > EVERYBODY has credit problems. The problems exceed the money even on > a national basis. > What is a "credit problem?" In the "olden days" companies that ran cyclical seasons had things they called "cash reserves" They would scoop out a chunk of money from the cash reserve, fund whatever operation from it, and the cash reserve would then be replaced by scooping it out of the profits of that operation. Companies could make a little money off interest on this reserve, or make a bit more loaning it to other companies if they had extra. Then 10-15 years ago the eastern bankers convinced a lot of those companies that somehow it was better business to run with NO cash reserve, and whenever they needed money for some operation, to scoop the money out of the bank and pay the bankers interest on it, then when the profits came from whatever operation, they would scoop even more money out of the profits of their operation to pay back the bankers. Frankly, my fervent hope is that credit is NOT EVER unfrozen, not at least for many, many years. I would like to see all the companies that fell for that bankers line of **** to go out of business. Not all companies fell for this and squandered away their cash reserves. Banks need to get back into the business of making money by paying out 2% on passbook checking and savings accounts, and charging 4% on 30-year fixed mortgages. With the volumes of money the banks make, a 2 point spread on just doing this only would make all of them many, many billions of dollars of profit. Ted |
#23
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Detroit Three executives
HLS wrote:
> >> Outrageous compensation packages, I can agree with - folks in suits wo do >> nothing all day, I can't. It only shows how little you really understand >> about the various aspects of a business organization. > > A lot of corporations have some deadwood at the top. It is apparently > unpopular > to dismiss people at this level for a number of reasons. > > I have seen suited thieves who were not fired, but were transferred > sideways to another > "opportunity". ....a place where they can do the least amount of damage. > The Peter principle is alive and well. The lateral arabesque (a rather elegant descriptive name coined by Dr. Laurence J. Peter). -- Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x') |
#24
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Detroit Three executives
"Tim" > wrote in message news:cfee2$492c8ced$cef8ac46> OK, sorry about the comment about your daughter. > > That being said, I really wonder how you would know that? Is it from the > newspapers or how? Time Magazine, yesterday at the doctor's office. Housing in this part of Texas continues to move, and people are still flipping in Austin and other desirable markets. |
#25
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Detroit Three executives
HLS wrote:
> > "Tim" > wrote in message news:cfee2$492c8ced$cef8ac46> > OK, sorry about the comment about your daughter. >> >> That being said, I really wonder how you would know that? Is it from >> the newspapers or how? > > Time Magazine, yesterday at the doctor's office. > > Housing in this part of Texas continues to move, and people are still > flipping in Austin > and other desirable markets. Here in Canada our banks are in good shape, our car sales are too. Retail surprisingly good. The banks won't lend money to the car dealerships. Now how can that be in Canada, where there is no real recession yet but not Austin? |
#26
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Detroit Three executives
"Tim" > wrote in message news:c7b94$492c9e30$cef8ac46 > Here in Canada our banks are in good shape, our car sales are too. Retail > surprisingly good. > The banks won't lend money to the car dealerships. Now how can that be in > Canada, where there is no real recession yet but not Austin? We are wondering that too... Certain areas like Austin are high level, relatively low cost (compared to other areas in the USA) areas. Lots of people with money move to the "Hill Country" of Texas. There is money to be had, if you have a decent credit history. Floor plan loans are another deal...GM has provided this service in the past, I believe, just so that dealerships can keep products on display. It was relatively cheap. Car loans to the consumer are a different subject. Certainly not every Tom, Dick, and Harry can walk in and get a top of the line car for nothing down and no credit history. But, we are not hard hit here in Texas at the moment. Are holding our breath, waiting for the other shoe to drop. |
#27
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Detroit Three executives
why were they required to have a plan for loans and fannie may and freddie
mac and aig had no plans or guide lines and were GIVEN the money??????????? Tim wrote: > I wouldn't blame the Detroit Three executives. They were as well > prepared as Paulson was. Why would they expect more detailed answers and > plans were needed? |
#28
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Detroit Three executives
On Nov 29, 3:18*pm, man of machines > wrote:
> why were they required to have a plan for loans and fannie may and freddie > mac and aig had no plans or guide lines and were GIVEN the money??????????? > > Tim wrote: > > I wouldn't blame the Detroit Three executives. They were as well > > prepared as Paulson was. Why would they expect more detailed answers and > > plans were needed? They basically took over the loans for the houses in the case of fannie and freddie. No more really bad loans issued and everything put on hold. It would be possible to do the same for GM and friends. Take over all the loans on cars and stop producing more crap. It is basically what will happen anyway. |
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