Jump to content
Create New...
  • William Maley
    William Maley

    Former Car Czar Says All Stakeholders Should Have Given Up More

    William Maley

    Editor/Reporter - CheersandGears.com

    December 17, 2011

    Steven Rattner, the former car czar that oversaw the federal bailouts of General Motors and Chrysler, said on Thursday to the Detroit Economic Club that the Obama administration's Auto Task Force should have forced all the stakeholders, including the United Auto Workers, to make more sacrifices.

    "We asked all the stakeholders to make very significant sacrifices. We should have asked the UAW to do a bit more. We did not ask any UAW member to take a cut in their pay," he told the club.

    Rattner also revealed that the US Government gave GM too much money, but on the side of caution.

    "We put more cash into GM than we probably needed to — and we knew this. It's part of why GM is so well-capitalized today."

    Source: Detroit News

    User Feedback

    Recommended Comments

    Duh!

    any more than $.01 was too much.

    never count on "gov" to make a rational decision with money....or to "hurt" a powerful lobbying group.

    Edited by loki
    • Agree 1
    • Disagree 3
    Link to comment
    Share on other sites

    I guess you'd prefer to see GM liquidated Loki..... and Chrysler... and probably Ford too. No they wouldn't have been bought by another car company. Fiat couldn't have done the deal they did without the financing. No other car company, not VW, not Toyota, not Honda, not Nissan/Renault, not Benz could have swallowed GM with special financing much less on their own.

    I have no qualms with the Government giving GM and Chrysler money when they fell on hard times. Toyota, Honda, and Nissan have been getting government handouts from Japan and local governments in the US for YEARS now.

    The payout back to the government in income tax will more than make up for what we've lost on the deal. Incomes that wouldn't be there had GM succumbed and taken Chrysler and Ford with them while severely damaging Toyota and Honda in the process.

    • Agree 4
    Link to comment
    Share on other sites

    This guy is just like his name RAT. What kinda car does he drive or should I say own ? This guy is NOT in the real world.

    EVERYONE but guy's like him have to sacrifice. He can stick it where the sun doesn't shine.

    • Agree 2
    • Disagree 2
    Link to comment
    Share on other sites

    Yay for 2 - 4 million more unemployed, which is what you'd prefer.

    better than economics of war.

    unemployment is temporary, economic warfare hurts everyone(except those promoting it,powerful and the rich)

    • Disagree 3
    Link to comment
    Share on other sites

    The government unemployment stats are notoriously understated for political reasons. There are far more long term unemployed out there than the government reports. To argue with me on this would only further cement my point.

    • Agree 2
    Link to comment
    Share on other sites

    i'm not arguing with you about how understated they are(political reasons-- from above; "which are a political tool"). i'm arguing that the stats are "Nourishing the Mercantilists"(in the first article) which you want instituted when other countries are doing the same thing.

    • Disagree 2
    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


  • google-news-icon.png



  • google-news-icon.png

  • Subscribe to Cheers & Gears

    Cheers and Gears Logo

    Since 2001 we've brought you real content and honest opinions, not AI-generated stuff with no feeling or opinions influenced by the manufacturers.

    Please consider subscribing. Subscriptions can be as little as $1.75 a month, and a paid subscription drops most ads.*
     

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Posts

    • Yes Genesis is not as high as they were in 2017 for the G90, but they have been slowly climbing the last 3 years, so we will see how it goes. I think breaking it out as a stand alone luxury division is a smart move. https://carfigures.com/us-market-brand/genesis/g90 Yet if you look at U.S. total sales of all models, Genesis has continued to increase in sales each year. Genesis | US Market Brands | CarFigures It is not a sprint, but a marathon of luxury quality autos.
    • Here's the problem, the G90 doesn't sell, and coupes and convertibles don't sell, combing both would be a disaster.   If they did a mid-size car maybe they would have a chance, but maybe they feel like the 4-series and CLE already kind of took that space away. And Cadillac for sure needs to do a coupe version of whatever replaces the CT5.  I think if you took a Lyriq drivetrain and throw a coupe body on that for $70-80k range they have a winner.
    • Seems Hyundai / Genesis is making sure prices stay stable to keep sales going: Hyundai Launches Customer Assurance to Maintain Current Manufacturer's Suggested Retail Price - Hyundai Newsroom Hyundai will not raise MSRP for its current model lineup for the next two months, starting today until June 2, 2025 GENESIS CARES INITIATIVE TO MAINTAIN MANUFACTURER'S SUGGESTED RETAIL PRICE FOR THE NEXT TWO MONTHS - Genesis Newsroom This initiative ensures that customers who purchase or lease any new Genesis vehicle between today and June 2, 2025, will see no increase in the Manufacturer’s Suggested Retail Price (MSRP)[i] during the protection window. Regardless of market conditions, customers will have peace of mind knowing that MSRP will not increase, providing financial reassurance and the time to make the right choice for their transportation needs.
    • Just not good enough at being a motor vehicle period...just hideous, shoddily built chod.. 
    • The M8 coupe looks so much like a Mustang in profile...  I like the previous M6 Gran Coupe from about 10 years ago..   It's too bad Cadillac doesn't have a coupe and 4 seat convertible...something small based off the CT4 and/or a midsize CT5 based one would be great.    I wish GM had built a production version of the gorgeous El Miraj concept.
  • Who's Online (See full list)

    • There are no registered users currently online
  • My Clubs

×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search