On Thu, 4 Dec 2008 21:46:29 -0500, the infamous "Ed Huntress"
scrawled the following:


"ATP*" wrote in message
...

"oldjag" wrote in message
...
Well, I guess most folks don't really care to much if the US auto
companies fold, judging by the internet postings. If one or more does
fold, who has the capital in the US right now buy up any of the
assets? The cost of admission for new vehicle design is very high.

They need to go bankrupt and reorganize. There will still be a US auto
industry and it will be more competitive than ever without the UAW
millstone around its neck.

Most of the industry experts I've heard over the past few days say there
will be no receivership and no reorganization. People don't buy cars from
bankrupt manufacturers. (Studebaker is an example; once it became known they
were thinking about getting out of the car business, they were.)

I'm another perfect example. I saw the writing on the wall, with Ford
probably not being solvent during my ownership of another of their
vehicles, so I bought a Toyota Tundra instead of another Ford pickup.

I was -very- happily surprised when I saw the near $15k price
differential, too. All the F-150s were going for $40k+ around here
and I got the Toyota for $26k. Then they tossed in $3k of discount for
buying off the lot (even though they bought the truck at another
dealer in Portland and drove it down. I didn't get exactly the truck I
ordered, but I think I'm happier with the gold paint than I would have
been with white. It doesn't show dirt.)


They'll go
straight to liquidation, possibly with a few months of receivership in order
to handle the selloffs. The brands have very little goodwill equity so most
of the remaining value will be real estate and hardware.

The Chinese are already sniffing around, looking for possible bargains.

Will the purchasers be doomed to inherit the UAW, or can that 'little
problem' be removed during takeover, too?

--
Smell is a potent wizard that transports you across
thousands of miles and all the years you have lived.
-- Helen Keller