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Everything posted by Oracle of Delphi
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Back Home In The USA One Day And ...
Oracle of Delphi replied to Oracle of Delphi's topic in The Lounge
Not at all, but out new governor elect is very tied to Obama, so both the Patriot Act and these (cough, Sobriety/Safety checks, cough) will be highly revised come January. It will be the police who will be limited, not the Delaware citizens. -
Filled up the Equinox at the BP for $1.70 a gallon for 87 octane.
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That's how I model my different goatee styles!
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GM, Ford shares jump on bailout outlook
Oracle of Delphi replied to Oracle of Delphi's topic in General Motors
NO BRIDGE LOAN, NO PEACE! -
I feel dirty now, but I'm not complaining!
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Back Home In The USA One Day And ...
Oracle of Delphi replied to Oracle of Delphi's topic in The Lounge
Not to worry, I have a feeling the Patriot Act is about to go through a highly needed revision, come January 20th. :AH-HA_wink: -
SNL Totally rips domestic auto industry
Oracle of Delphi replied to BrewSwillis's topic in General Motors
Has it been 8 years? My how time flies when your having fun! -
Back Home In The USA One Day And ...
Oracle of Delphi replied to Oracle of Delphi's topic in The Lounge
I'm glad you agree with me. -
Back Home In The USA One Day And ...
Oracle of Delphi replied to Oracle of Delphi's topic in The Lounge
But my mom lives in Texas! -
Back Home In The USA One Day And ...
Oracle of Delphi replied to Oracle of Delphi's topic in The Lounge
That's because all the Delaware State police are up here in New Castle County harassing me! Next time I get stopped I will only speak German, lets see how they handle that! :AH-HA_wink: -
You'll shoot your eye out. (well it is almost time for A Christmas Story). I love that movie.
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GM Studies Killing Saab, Saturn, Pontiac
Oracle of Delphi replied to Oracle of Delphi's topic in General Motors
Buick outsells them if you include China. -
Stopped by a Delaware State Police Sobriety/Safety Check! How I've missed the Patriot Act! Living in the European Union I've forgotten what a police state the USA has become. State Police - I'm officer blah blah blah, we are conducting a sobriety/safety check! Me - Ohh? State Police - Yes, have you had anything to drink tonight? Me - Yes. State Police - What were you drinking? Me - Water. State Police - Looks to see if I have my seat belt on and then asked, Where did you just come from Sir? Me - How is that question related to a sobriety/safety check? State Police - Face gets bright red. Then asks Where are you going to Sir? Me - Again, How are these questions related to your Sobriety/Safety check? I think you're violating a whole slue of my Constitutional rights by asking these questions. State Police - Face beat red now, pull over we will need to run your tag and check for warrants, have your license and registration ready. Now I could have taken the easy road and just answered their questions, but it's the principle of these Gestapo like questions that got to me, it reminded me of how the Gestapo would always ask German citizens for their "Papers Please!". In the end they had to let me go, no warrants, no points, no violations of any kind, I smirked at them as I drove off. They only threw Safety Check on their Gestapo check so the Delaware State Legislature would vote for it. Land of the Free MY ASS!
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GM Studies Killing Saab, Saturn, Pontiac
Oracle of Delphi replied to Oracle of Delphi's topic in General Motors
I would be prepared for an announcement soon of more employee layoffs and plant closings, most likely before GM goes before Congress next week. -
Automotive News November 26, 2008 - 6:32 pm ET DETROIT -- General Motors is studying the idea of killing the Saab, Saturn and Pontiac brands as it seeks U.S. rescue loans, Bloomberg News reported today. Bloomberg cited unnamed sources. A GM spokesman declined comment, the news service said. The automaker is preparing to submit a detailed turnaround plan to Congress on Tuesday, followed by hearings next week in its quest for a federal loan to avert a cash shortage. GM already has said it may sell Hummer. GM's board will meet Sunday and Monday, both regularly scheduled meetings, to review the plan to be presented to Congress, Bloomberg said. Only a small portion of that plan will be made public. Link: http://www.autonews.com/article/20081126/A...paign_id=alerts Link to Bloomberg: http://www.bloomberg.com/apps/news?pid=new...id=amIqBBYGRh5Q
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SNL Totally rips domestic auto industry
Oracle of Delphi replied to BrewSwillis's topic in General Motors
The trouble is, not all of us are braindead! -
Beheading
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Bradford Wernle Automotive News November 26, 2008 - 10:42 am ET UPDATED: 11/26/08 12:24 p.m. EST Daimler AG says Cerberus Capital Management LP is making new and "exaggerated demands" that have hampered Daimler's effort to sell its 19.9 percent stake in Chrysler Holding LLC to the private equity firm. Daimler issued a statement today charging that "demands by Cerberus exceed the value of Cerberus' investment in Chrysler." Daimler sold 80.1 percent of Chrysler Holding to Cerberus in August 2007. That money went into the Chrysler business. "The claims made now go beyond the framework of the contractually agreed possible obligations," the Daimler statement said. "Daimler rejects these absurd allegations." Han Tjan, a Daimler spokesman, said talks over sale of the stake had slowed because of Cerberus' demands. He declined to elaborate on the allegations beyond the statement. In September, Daimler announced it had been approached by Cerberus to sell its remaining stake. In October, Daimler wrote down the value of the stake to zero. In its statement, Daimler said Cerberus also had made an "allegation of conduct outside the ordinary course of business by Daimler during the time between the signing and closing of the transaction." Cerberus, in a statement, contends Daimler breached its obligations under contracts negotiated during the sale of the automaker last year. "Cerberus and Chrysler have concluded that Daimler intentionally and materially breached its obligations under the relevant contracts relating to the Chrysler transaction. "These serious breaches include, but are not limited to, misrepresentations relating to extraordinary changes in underwriting practices with regard to vehicle acquisition financing and leasing, as well as non-ordinary course lending and leasing practices." The disagreement comes a week after Chrysler LLC CEO Bob Nardelli said in Congressional hearings that Cerberus would be willing to forgo any financial benefit if Congress delivered $7 billion to Chrysler as part of a $25 billion loan package. Terms of a possible loan are being negotiated. Chrysler Holding consists of two entities: Chrysler LLC, the carmaker, and Chrysler Financial, its captive finance company. PRESS RELEASE: Negotiations on Redemption of Chrysler Shares More Difficult STUTTGART, Germany, Nov. 26 /PRNewswire-FirstCall/ -- The negotiations between Daimler AG (stock exchange abbreviation DAI) and Cerberus Capital Management LLC on the redemption of Daimler's 19.9% shareholding in Chrysler Holding LLC ("Chrysler") and other issues related to Cerberus's investment in Chrysler have been made considerably more difficult during the last weeks due to exaggerated demands by Cerberus. (Logo: http://www.newscom.com/cgi-bin/prnh/20080409/NYW017LOGO ) These demands by Cerberus exceed the value of Cerberus' investment in Chrysler. For the acquisition of an 80.1% stake in Chrysler, Cerberus had invested USD 7.2 bn. The claims made now go beyond the framework of the contractually agreed possible obligations under representations and warranties. The new claims also include an allegation of conduct outside the ordinary course of business by Daimler during the time between signing and closing of the transaction as well as the allegation of incomplete information about the business. Daimler rejects these absurd allegations and the claims derived therefrom as being completely without substance. PRESS RELEASE: Cerberus Capital Responds to Daimler Press Release NEW YORK, Nov. 26 /PRNewswire/ -- Cerberus Capital Management, L.P. ("Cerberus"), one of the world's leading private investment firms, issued the following statement in response to Daimler's press release disseminated this morning. "Cerberus and Chrysler have concluded that Daimler intentionally and materially breached its obligations under the relevant contracts relating to the Chrysler transaction. These serious breaches include, but are not limited to, misrepresentations relating to extraordinary changes in underwriting practices with regard to vehicle acquisition financing and leasing, as well as non-ordinary course lending and leasing practices. "This conduct, among other reasons, led the parties to engage in lengthy negotiations toward a mutually agreeable settlement. Daimler has, unfortunately, refused to recognize the gravity of the claims relating to its deliberate conduct that resulted in the impairment of Chrysler's business and added to and multiplied the adverse effects of the current automotive and macro-economic environment. We are disappointed that Daimler has refused to negotiate in good faith in the face of the plain facts of which they are well aware. Accordingly, we are considering our strategic options and will have further comment after assessing the effects of Daimler's recent actions." Link: http://www.autonews.com/apps/pbcs.dll/arti.../811269982/1142
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November 26, 2008 - 1:00 pm ET UPDATED: 11/26/08 1:19 p.m. EST DETROIT (Reuters) -- Shares of General Motors and Ford Motor Co. jumped today after Deutsche Bank said chances have improved for the struggling U.S. automakers to receive a government bailout. "There is growing concern about the risks to the U.S. economy that would be derived from inaction," Deutsche Bank analyst Rod Lache said in a research note. "The proximity of these bailout hearings to the Citigroup bailout may have also tipped the scales somewhat," Lache said, referring to the massive government rescue of the bank announced Sunday. Shares of GM, which hit a 70-year low of $1.70 last week, surged as much as 64 percent as of 1 p.m., trading at $5.86 a share -- up$2.30 a share on heavy trading on the New York Stock Exchange. Ford shares were up 33 percent, or 55 cents, to $2.20 a share. Lawmakers, who last week rejected pleas from GM, Ford and Chrysler LLC for $25 billion in federal loans and asked the companies to submit detailed turnaround plans, are rescheduled to convene out of session in the week of December 8 to review the plans and consider aid. Lache said the U.S. automakers would likely present "relatively aggressive" plans to Congress, addressing challenges to both operating costs and revenues. "We believe winning over skeptics will require U.S. automakers to submit plans that demonstrate an ability to achieve cash flow breakeven at relatively low demand and conservative market share levels," Lache said. He added GM could cut its annual fixed costs for North American operations to the low $20 billion range from the current $31 billion, but that would involve "significant execution and timing risks." Even if GM is able to restructure outside of bankruptcy, existing shareholders will likely be diluted to near $0 value for the stock, Lache said. Link: http://www.autonews.com/article/20081126/A...paign_id=alerts
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SNL Totally rips domestic auto industry
Oracle of Delphi replied to BrewSwillis's topic in General Motors
You know it's funny to make fun of politicians, because in reality they are all the same, however it's quite another story when millions of North Americans may lose their jobs over this. -
Happy Birthday Bryce, one of my favorite people to talk to on MSN Messenger.