Porsche head predicts a hedge fund will swallow GM or Ford

[Intrepidation]

Autoblog

Little guy Porsche is taking huge swings, and not just at the giant that is Volkswagen. Porsche head Wendelin Wiedeking had fierce Teutonic words for General Motors and Ford, and banks. His Rindfleisch – beef, that is – with U.S. automakers is that, through unsound practices, they have thrown absolutely everything into turmoil. In the words of the Guardian, in fact, they have driven "the industry to the brink of ruin."

Those are big and perhaps hyperbolic words. But he then singles out GM for "openly threatening" the U.S. Government with bankruptcy, and predicts a hedge fund will take control of "one of the U.S. car manufacturers." Since Chrysler is already controlled by a hedge fund, that only leaves GM and Ford as the possible subjects of that comment. We can't imagine a hedge fund trying to swallow GM or Ford, especially after Cerberus has taken such a beating with Chrysler that seemingly all they can say is "Must... find... the exit."

Wiedeking is on more Earthly ground when he talks about the little guys, suppliers, who are quietly going under -- even though many of them ran their business correctly -- due to the banks' refusal to lend money while the clash of automotive titans continues. In a quote that people in many different industries can applaud, he says "We need banks to give credit, not just talk about credit ratings but start real actual lending to companies." Amen. Thanks for the tip, Sonny!

[FUTURE_OF_GM]

F*CK HIM...

Porsche is overrated and just looking for PR, so they're jumping on the bandwagon. I'd like to know exactly how he thinks this is all GM and Fords fault. If anything, the Japanese are AS MUCH to blame. Of course, just like all of the 'know-nothing' talking heads he spits out his opinion for a soundbite, then offers no logic to back his worthless ass up.

The root of the problem is OBVIOUSLY the american government and Wall Strett for their lack of oversight and restraint.

Edited December 1, 2008 by FUTURE_OF_GM

[turbo200]

F*CK HIM...

did you listen to anything he said or did you just hit the automatic respond, mode:dumbass button?

clearly he thinks Ford and GM have a lot of clout in our country, and from his perspective the American market seems to be of big consequential importance; those are both good things in my book. i don't know what he means to say with the comment about bringing the industry to the brink of ruin or turning everything into turmoil...BUT it sounds like anger and bruised retaliation more than outright evil.

what is not surprising but simply dumbfounding to me is why you let something like what he says bother you. who cares?

you should be applauding how he defends the little guy, the one no one pays attention to, yet the whole system relies on, and he goes after the big guy for cornering the market and govt into what many percieve to be a sour deal.

Edited December 1, 2008 by turbo200

[FUTURE_OF_GM]

did you listen to anything he said or did you just hit the automatic respond, mode:dumbass button?

clearly he thinks Ford and GM have a lot of clout in our country, and from his perspective the American market seems to be of big consequential importance; those are both good things in my book. i don't know what he means to say with the comment about bringing the industry to the brink of ruin or turning everything into turmoil...BUT it sounds like anger and bruised retaliation more than outright evil.

Hence my original response; it's nothing more than a smear campaign.

what is not surprising but simply dumbfounding to me is why you let something like what he says bother you. who cares?

Because tons of jobs depend on it and he is doing nothing by contributing to the mess that will inevitably fire up tomorrow anyway. This quote will be bounced back and forth in the media machine until it break in half. That will 1) Create more ill will toward the domestics and 2) Get Porsches name out there.

The better question is; why are you not offended? If someone blatantly spreads malicious lies about something that you whole heartedly believe in, would you not go on the offensive and try to rally the troops (which is what the spirited reply was meant to do)

It's obvious that you're not as passionate about GM or the domestics as 95% of the other posters here.

This has to stop. If someone wants to have valid criticisms about Detroit, then it needs to be facts instead of a soundbite and that's what pisses me off the most.

you should be applauding how he defends the little guy, the one no one pays attention to, yet the whole system relies on, and he goes after the big guy for cornering the market and govt into what many percieve to be a sour deal.

How is he defending the little guy again?!?! By 'piling on' to the idea that we should let 3.5 million of the little guys jobs go away. Oh, and then I guess Porsche will swoop in and employ tons of people right.

You're delirious if you think his remarks were meant as anything other than a piss-poor dig at competition that does a better job at what his companies wish to accomplish.

EDIT: for content

Edited December 1, 2008 by FUTURE_OF_GM

[FUTURE_OF_GM]

And BTW, the only reason the industry is at the brink of ruin is because GM and Ford are SO SUCCESSFUL that the whole industry hinges on them.

Too bad I wasn't there, I would've said what I said to his face and seriously contemplated throwing punches.

To me, this (the state of these companies) is the line and you're either with us, or I don't have the time of day for you.

This "scenario" is as much Detroit's fault as the SUV craze of the 90s, the lack of small car sales, infant death syndrome and polar bears dieing of starvation. So don't even TRY to hang yet another noose around these companies necks.

Edited December 1, 2008 by FUTURE_OF_GM

[turbo200]

get a grip. the 'malicious lies' he's spreading are his opinion and can be interpreted that way by anyone with a working 14 year old literary understanding. an opinion is not a fact, and is limited in its reach, because others have differing opinions and viewpoints. he is clearly mad. there are many other opinions out there, more fully based in fact. the only thing he says that is of any relevance is he thinks GM will be bought out by a hedge fund, and even that is just opinion based in his version of the facts.

Porsche is a business. GM is a business. you have no affiliation to either. you are simply affectionately tied to one. the one that's not making profit. you hate the other, the one that does make the profit, seemingly, out of blind hatred and jealousy, because they are successful, at making a profit.

the media will move on from this, this quote will not get spread around like religion, virtually no one cares what the head of Porsche thinks outside of the performance of his own company since he is closely aligned and familiar with his company's situation. the media will move on from this faster than you can say 'Dec.2 is the day automakers return to the Hill to provide thier plans for prosperity, and make one last bid to convince the lameduck Congress to give them aid.'

[FUTURE_OF_GM]

get a grip. the 'malicious lies' he's spreading are his opinion and can be interpreted that way by anyone with a working 14 year old literary understanding.

Which further qualifies my opinion of F*CK HIM and anyone that disagrees with me.

And besides, it doesn't matter if it is opinion. You know as well as I do that it will be taken as fact by a large majority of our ignorant population. You've seen it already! Stop being so naive as to believe that the public will give these companies the benefit of the doubt.

Porsche is a business. GM is a business. you have no affiliation to either. you are simply affectionately tied to one. the one that's not making profit. you hate the other, the one that does make the profit, seemingly, out of blind hatred and jealousy, because they are successful, at making a profit.

Okay, 1) Don't EVER pretend like you know me... Your pompous posts in this thread alone are enough for me not to get to know you on a level personal enough for you to know anything about why and how I view these companies. 2) Don't make the mistake of *thinking* you understand how my system of values works in relation to these companies or anything else in this world. To you, I am a screen name that is free to type whatever the hell I want. For all you know, everything I write on here could be lies. 3) I HATE Porsche because it is the MOST OVERRATED automotive company on the planet. RESEARCH IT, I've said that MANY times on this board. It has absolutley NOTHING to do with profit, or the lack of profit made by the company. Why would any of that even matter to me anyway if, as you put it, I have "no affiliation to either". Given my profession and my education, when it comes to 'feelings and perception' me thinks you're out of your league if you're trying to tell me anything. ESPECIALLY anything about myself.

the media will move on from this, this quote will not get spread around like religion, virtually no one cares what the head of Porsche thinks outside of the performance of his own company since he is closely aligned and familiar with his company's situation. the media will move on from this faster than you can say 'Dec.2 is the day automakers return to the Hill to provide thier plans for prosperity, and make one last bid to convince the lameduck Congress to give them aid.'

Yep... Just like it "moved on" from corporate jets in the face of 3.5 million people losing their jobs.

My issue doesn't lie with your differing opinion. My issue lies with how you addressed me about a reply that is none of your damn business in the first place. If you don't like my opinions, then don't read them. But apparently A LOT of people do like them because I seem to have a 'fan club' that tries to shoot me down all of the time. And that in itself is the SUCCESS I wanted in the first place.

[cletus8269]

calm down FOG, hehe maybe he is angry because he had to come back from his weeklong vacation porsche just had....