Locate an Auto Repair Shop in Prosperity, West Virginia

Prosperity, WV Car Consumer Discussions

Re: The LG will appreciate [richard64]

by duke23 on Mon Nov 17 21:36:36 PST 2008

richard64 wrote ; "How splendid that we can relate this great author to our varied interests on Edmunds. It was this great investigator for social justice who personally served in the meat packing plants of Chicago to reveal the foul activities being thrust upon an unknowing public. It is most unfortunate that he could not have lived long enough to do the same in our financial houses across this great nation. To the Big Three, you have my sympathy and concern. To AIG and the banks, you have my disgust and my distain . " Most agreed. 86 years later, He is still very relevant. Also agreed on your sentiments regarding Aig, who was was bailed out because the risk to the US financial system was too great. 47 trillion in contra party risk is a bit too much . Ouch . Credit default swaps, a truly viscious instrument, it behooves the seller to actually have real collateral to back it up . Better yet, somehow we were able to survive and prosper before their invention. Do away with this self fulfilling prophecy? Though I speak in caged terms, each bail out was done because the risk to the system was too great. The public was not fully informed because it might lead to financial panic. But I guess that is all rather moot now.

Re: It's simple really...Unions need to go away! [jimbres]

by andre1969 on Thu Nov 13 11:02:46 PST 2008

For all of the loose talk about another 1930s-style Great Depression, we aren't even close to the lows of the 1981-82 recession. I agree that we're nowhere near a Great Depression scenario. I was born in 1970, so I was just a kid when we had that downturn in the late 70's/early 80's. The main thing I remember was Mom griping about paying $1.10 per gallon for gas, and trading her '75 LeMans 350 in on an '80 Malibu with a 229 V-6. Still, I wonder if overall, this time around might actually be worse, even if we're not calling it a recession just yet? Back in the late 70's and early 80's, house prices kept appreciating for the most part, even though the recession. And in those days, pensions were much more common. The federal government had its own retirement system. And if you were a federal employee, you were basically like the Pope...guaranteed a job for life! Sure, people would still get laid off. And if you didn't get a new job in time, you ran the risk of burning through your savings and losing your home if you started missing payments. But today's economy is much worse. Many people are getting hit not only with a job loss, but a house with plummeting value, and a 401k, if they even started one, that's quickly eroding in value. Another problem is that most of the "success" of this current decade has been based on bubbles. First the tech, then the real estate and the rampant consumption fueled by easy credit and rising equity. This decade has also seen the gap between the rich and the middle class widen. Many high-paying jobs from the 1990's were wiped out, and have been replaced by much more menial, low-paying jobs. Truth be told, the economy was pretty jittery through most of the 1970's, so the recession that ensued actually managed to straighten things out, to the point that the 1980's and 1990's would be a good long period of prosperity. Sure, there were some blips, like Black Monday in October 1987, a relatively mild recession in the early 1990's, and another blip around late 1998. I think that the bad times that started hitting in 2000, and were exacerbated by the 9/11 tragedy, and then pretty much bottomed out around late 2002, would have been much worse, but lowering interest rates and relaxing credit standards sort of delayed it. Didn't make it go away, but just put off the inevitable. And now, we're finally starting to pay for it. As for upswings in violent street crime, depression, suicide, homicide, etc, sad to say, it's already been happening. With the mortgage/credit meltdown, suicide prevention hotlines have been ringing off the hooks. People have also been resorting to extreme measure, such as torching the house to collect on insurance, having a car that they can no longer make the payments on mysteriously get stolen, shooting their entire family because they somehow feel it's more honorable than living on the street, etc. If anything, we might be even more ill-prepared today if another Great Depression came along, than our forefathers were. Back in the day, many people knew how to live off the land. But just imagine a scene like that today...people raising their own chickens, pigs, cows, etc...that would really get their HOA's panties in an uproar! And how many people nowadays would even know how to slaughter a chicken or pig or whatever? Sure, it's one thing to kill it, but then you have to prep it just right, or the meat goes bad, and if done wrong I think it's even possible to poison yourself. How many people could grow their own crops these days? Or do their own home repairs? Or patch up the car when it breaks down? Needless to say, if we entered another Great Depression, most of us would be screwed!

Re: My gosh [sixfive]

by fintail on Thu Nov 13 08:41:08 PST 2008

How much underemployment is out there right now? Add that to the debatable "6.5%" claims... There is another cold war right now. It really never died. The Soviets won, just as they were the largest victor of WW2, no matter what our propaganda textbooks claim. Maybe the military-industrial complex can spawn a new wave of prosperity...just hope it is for those on this continent, and not for sweatshop workers elsewhere.

Re: No bailout without addressing the UAW [lemko]

by rockylee on Thu Nov 13 06:23:32 PST 2008

I don't think we need to go that far even though I wished that would of happened !!! ;) If they would implement tariffs on all imported cars and parts and address the currency manipulation done by the Asians, american business would prosper once again. I also believe strongly in enforcing our anti-trust laws so small business the creators of new things could prosper and be given a chance to grow their companies instead of being constantly squashed and their new products killed !!! -Rocky

Re: GM likely to survive, bonds a "buy" says J.P. Morgan [steve_]

by gagrice on Tue Nov 11 12:55:55 PST 2008

I am not familiar with the TN VW deal. Many times the city or county will give long term leases to companies to build on the land. Usually at a reduced rate. It is good business if you want to promote work in your city. I suppose you could consider it corporate welfare. I would say if they did their homework it will be money well spent and pay back multiple times over. I can tell you if you look around at the cities that are prosperous they all give breaks to induce industry. If a state has workers to offer they are ripe for industry. Except places like CA where they do everything in their power to keep industry from moving into the state. VW could have picked Michigan. Something up there they did not like as well as TN. I would guess the labor pool.

Honda/Toyota transfusion

by xrunner2 on Tue Nov 11 07:28:55 PST 2008

Rick did a fairly decent job on the cost/operations side, cutting costs, and he made some efforts to put out new good products, particularly the CTS and the Malibu. But the large, strategic decisions - no leadership or vision at all. Put Steve Jobs in charge and you would see some bold decision making. Steve Jobs might be the elixir, but "engineering" car guys would be better. Just started reading a book written in 2003, "The End of Detroit", by Micheline Maynard. She points out (as of 2003) that top executives at Detroit Big 3 have been from finance and accounting parts of their corporations. She contrasts this with Toyota and Honda having guys from "engineering" parts of their companies being the top executives. Intuitively, it would seem that engineers would always have mindset of innovating and improving product whereas finance might not. Honda/Toyota product offerings are rarely off the mark contrasted to the Big 3. Just as new Obama administration being transititioned, wonder if a transfusion of some of Honda and Toyota top executives and some engineering managers into GM could save it. Obama, and any incoming President, will keep staff and workers that are "career" types and are party neutral. But, Obama and his leadership team will define new strategies and goals for the career workers to execute. Similarly, could Honda and Toyota donated top executives and other management change GM strategy and culture to turn it around but retaining core work force engineers and assembly. Would think that Honda/Toyota want to grow/prosper in the U.S., but also would not want to see the demise of GM. A bailout of GM by U.S. should require a restructuring starting with the replacement of top management. Of course, flys in the ointment, even with Honda/Toyota transfusion are unions and agreements to supply vehicles to dealers. Too many GM dealers around the U.S. and ridiculous rules that GM agreed to in allowing unions to dicatate "HOW' to run the business/day-to-day operations. That would have to be scuttled somehow. Might have been a possibility with a Republican Congress. But, with Democrats in control, there is no way they will allow any dimunition of union power or rescinding of their agreements. Now, it is interesting that some Dems in last few months wanted mortgage companies to rewrite terms of mortgages to be more favorable to homeowners. But, would the Dems do anything to neutralize the stiffling effect of union agreements with automakers.