Word: carly
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Dates: during 2000-2009
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...Chrysler say that they need $22 billion. Rattner calls it differently. He told Bloomberg, "It could be considerably higher, I won't deny that", when asked whether U.S. aid sought by the car companies could increase. "Like all management teams they tend to take a reasonably, slightly perhaps, optimistic, view of their business. So it could be more, I can't rule that...
...There is no "could" about it. Since most of the restructuring programs for the car companies are not in place now, and probably cannot be until the middle of the year, their losses in the first two quarters should not be terribly different than they were in the fourth quarter. Depending on which of the P&L lines financial analysts look at, it means that Detroit is going through as much as $9 billion a month. GM (GM) and Chrysler could spend the $22 billion that they are requesting in as little as 90 days. It has been said that...
...maintain the flow of credit. But, the comparison is bogus. As John McCain, a military man much of his life, liked to point out to the President during the election, there is a difference between strategy and tactics. There is nothing strategic about Detroit. Over 50% of the cars sold in the U.S. are made by foreign companies. There is no reason that the number cannot go to 80%. It serves the national interest to save the jobs in Detroit and in related industries while the economy is in trouble. It is hard to make the case that any broader...
...Washington will keep Detroit open until the government can afford for it to close. That will not happen during this recession. If the car companies can work their camel though the eye of a needle, it may not happen at all. That is to say, long term, "Made In America" will not be stamped on very many cars...
...More than 30 years later, I recently listened to Ratan Tata, chairman of Tata Sons, the holding company for the sprawling Indian conglomerate Tata Group, describe a family just like mine as the inspiration for the Nano, the ultra-cheap "people's car" that the Tata Group company Tata Motors launched on March 23. "What sparked it off was riding in a car and looking at them and saying, Surely there's a safer way that these people can be transported," he recalls. (See the 12 most important cars of all time...