Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
UAW
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="barnyard" data-source="post: 445403" data-attributes="member: 13921"><p>It sounds like the White House is working on a plan for the automakers to tap into the money that has been promised the banks. </p><p></p><p>Comments from Honda and Toyota have been to the effect that bailing out the big 3 is imperative. If the big 3 go under, so do many of their suppliers. If they file bankruptcy, who will give them a line of credit to come out of chap. 11. Plus, if creditors are limited to what they can collect, who will supply many of the big 3. Suppliers say that the big 3 typically go out 90+ days paying invoices. That leaves a ton of suppliers on the hook for a ton of money.</p><p></p><p>This all stems from the idiotic way the bank bailouts were handled. It was sold to most, that reverse auctions would be held to buy the bad paper out on the market. At the last minute, someone decided that writing checks would work best. Shockingly, it did not.</p><p></p><p>Sound Money on NPR has some of the most informative stories on the whole thing. Many of the past episodes can be listened to on from their website.</p><p></p><p>TB</p></blockquote><p></p>
[QUOTE="barnyard, post: 445403, member: 13921"] It sounds like the White House is working on a plan for the automakers to tap into the money that has been promised the banks. Comments from Honda and Toyota have been to the effect that bailing out the big 3 is imperative. If the big 3 go under, so do many of their suppliers. If they file bankruptcy, who will give them a line of credit to come out of chap. 11. Plus, if creditors are limited to what they can collect, who will supply many of the big 3. Suppliers say that the big 3 typically go out 90+ days paying invoices. That leaves a ton of suppliers on the hook for a ton of money. This all stems from the idiotic way the bank bailouts were handled. It was sold to most, that reverse auctions would be held to buy the bad paper out on the market. At the last minute, someone decided that writing checks would work best. Shockingly, it did not. Sound Money on NPR has some of the most informative stories on the whole thing. Many of the past episodes can be listened to on from their website. TB [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
UAW
Top