AUTO BAIL OUT FAILS

[Ninja]

Black Friday here we come.....shorts enjoy the ride, longs run for the hills.

[#2]

what is signaficant to look at today the usd for the second time ever traded at less than 90 to the yen, the usd is showing signs of blowing off, the pound is nearly equal to the euro, the investors are looking for another safe haven and it is not the usd anymore may be drinking water saw the new james bond film last night, SIMON water will become the next traded commodity LOL

[SimonPB]

ya I like the water story very very much. but here's the problem, what water? Bottled, manufacture, desaltination, transporting of it etc. And then it is a consumable. Thinking about a safe haven, me thinks it needs to be something that is not consumed (such as the relic, USD and TBills are not).

[DST]

In conversation with a worldly advocate recently, he stated that the scarce items on our planet in the next decades will be:-

Water,

Wilderness, and

Trust.

Not a happy prospect for by then 8-10bn humans as the earth gets squeezed, choked and trampled!

[Brazen]

It is consumed but can be recycled. Remember reading somewhere that New York tap water has passed through 11 people or something.

[#6]

Connecticut Democrat Christopher Dodd, who helped lead the negotiations, said the final unresolved issue was a Republican demand that unionized autoworkers accept a reduction in wages next year, rather than later, to match those of U.S. autoworkers who work for foreign-owned companies, such as Toyota Motor Corp. This is the most rediculous argument I have heard in ages. They would rather lose their livelyhoods than take a pay cut?

[DST]

And to think there are some Ladies who pass through the Lake!

[SimonPB]

nah, they playign who blinks first.

[#9]

I wonder how cosatu would have dealt with this...

[#10]

my comments exactly easy to say they are stupid not to drop their wages and rather choose to lose their jobs, but what would i have done if i were in the same position, not too sure, GM said two weeks ago to the congress that if the bailout fails they will fail by the end of the year, lets se how much truth is in that statement

[_nova]

There's playing chicken and then there's playing CHICKEN! These blokes are playing chicken with a runaway truck (scuse the pun). Not smart at all. I reckon it's chapter 11, and soon, and then the UAW is going to get it's wings clipped well and proper and hopefully these companies will get competent managers and downsize management by at least one third

[barry_1]

Bush says that ,he wont let the Autos go under as the economy is too weak to take more lquidations at this stage....if he's forced to he will use bank bail out money!

[#13]

that's where the snag lies, the mandate given to the fed was "banks". bush will have to go back to the same seante that last night stopped the auto bailout and convince them to change the mandate

[theyoungster]

I expected it to be much worse today....still time to get into a few short positions??

[#15]

Dunno, looks like Santa is not finished with the Bulls yet. It is starting to look like the ALSI wants to close its gap. That will probably make it the only index in the world ending near the green today.

[Shard]

Energy is another to consider, although water is possible. Take the middle eastern countries for example, where water costs more than fuel.

[J12]

what happenned to the dow when news of this epic fail was released? Or do we have to wait until later today when the dow opens to see what's going to happen? My guess is... there might be a black friday on wall street which means a black monday on JSE.

[#18]

Looks like its the shorts who shoulod be covering more than their behinds ...

[theyoungster]

we rallying up..while the rest of the world bleeds :D

[#20]

This "no" vote is really fantastic news - the senators who had the guts to vote "no" should be commended. The sooner the investers in those lousy companies are wiped out, the better. To try to prop the company up just interferes with the necessary deleveraging process. If they are declared bankrupt, the investor's stakes in the company will be declared worthless (because they are), the creditors feel some pain, and then new owners can buy the business (or parts thereof) without being encumbered by the excessive debt that the old company had. GM needs a big shake-up - their product offering is very stupid. They sell 93 different models (not counting engine variants) under 8 brands (Chevrolet, Buick, Pontiac, GMC, Saturn, Hummer, Saab and Cadillac), with a lot of overlap between the models. Compare that to Toyota, where they sell only a handful of different models, under only 2 brands (Toyota and Lexus), where each model occupies a different niche to all other models. I'm seeing the sense in some of the senators' arguments that a bankruptcy is the best vehicle through which to restructure the company. Goodbye GM - we won't miss you. (OK, maybe we'll miss the Hummer...)