GM Plan Clears!

A bankruptcy judge has cleared the way for General Motors Corp. to sell it’s self. And guess who’s buying all assets, we are, the American people as well as Canada. Canada will be purchasing about 12 percent, but the American government will be taking on well over 50 percent. I really have no idea if this is a good move or not, but it does save a lot of jobs in the end. I’m sure the jobs being saved won’t pay anywhere’s near what they where in the past. But then again that’s the reason why GM and Chrysler failed. Workers where being paid a ton of money for little work. But I’m not going to go into all that at this point. All that’s in the past, we must move forward and get people back to work at the right pay. Hopefully the sale will go forward without a problem. And I sure hope the U.S government will stay out of the running of GM as promised.

Hot Deals On Chryslers!

With the 785 plus Chrysler dealerships closing there could be a whole lot of deals coming your way. That’s because these dealers getting cut from Chrysler need to get these cars off their lots by June 9th. After that date they will no longer be approved to sell a brand new Chrysler. Some of these dealers have huge inventories, which they own. The loses to these dealerships could be in the high thousands.

In case if you don’t understand how a dealership works here’s a short look into it. The dealers purchase these cars from the manufactures, with loans. These loans payments they pay off when the car sells. The dealer doesn’t have to pay on the loan, but they nee to pay the interest, which is running up on the unsold cars. So you can see why these dealers that are being dropped are going to really feel it come June.

So now is the time to by a Chrysler, if you like them. The deals are going to be huge, starting right now. The longer you wait, there better the deal, but the selection may be low. I would say get out and look, if you like the car or truck toss in a low ball offer, who knows, they might take it.

GM And Bankruptcy!

I have no idea why General Motors Corp. is dancing around the fact that bankruptcy is going to happen to them come June 1st. They keep stating that their hoping to restructure without court protection. What I think is happening is that their getting their paper work in order to file for court protection. They have to, there’s no way the deal their trying to do with their debt will work. Their trying to get the bond holders and auto workers union to take 10 percent of the company in exchange for $27 billion debt. Who in their right mind would take that offer. And there’s no way Obama is going to bond holders to agree to it. Just look what happen to Chrysler, the bond holders told Obama no way. So no one be surprise when June 1st comes and General Motors files for chapter 11, it will happen.

Unions Kill Businesses!

I have said this a thousand times, unions kill businesses, they really do. And this will happen within the auto industry. That’s because there’s a deadline coming, today that needs to be set and the United Auto Workers Union is going to be holding it up. The UAW thinks they’re helping the employees but their not. What’s going to happen is General Motors Corp. and Chrysler LLC are going to go out of business if the UAW doesn’t rework the deals with these companies. If the deadline to rework these contract aren’t in place by today the automakers might not get anymore money to stay in business. The only people to lose in a deal like that is the autoworkers, contractors and the American people. So please don’t try to tell me unions work, because they don’t. I once was in a union, and most of the time they did nothing for you. You’ll see what I’m talking about when the UAW brings down 2 major automakers within a year. Unions in any industry don’t work, they really don’t.