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03-07-2014, 05:50 AM   #16

Join Date: Sep 2006
Location: Millstone,NJ
Posts: 6,491
QuoteOriginally posted by monochrome Quote
It doesn't have to be Daewoo and disappear completely.

If a company goes through bankruptcy proceedings, defaults on a portion of its debt, wipes out the equity holders, lays off a large percentage of its employees, defaults on all or a portion of their retirement benefits and accepts billions of dollars of 'loans' from the government (on which it ALSO subsequently defaults) I don't care if the brands are still made and the logo is still on the buildings. The company died.

Kodak's British pension fund owns the Consumer film division, purchased with help from the British government - which was a desperation move to preserve the pensions of the British employees. Americans are, for the most part, screwed. Kodak died.

FIAT bought Chrysler for virtually nothing after assumption of debt. Chrysler closed two plants in St. Louis in which they had invested $1 billion dollars just eighteen months earlier. 18,000 employees including the associated plants nearby. Chrysler died.

This article tells the story at General Motors - yes, still #1 in sales, but sinking to just a bit ahead of Ford. Chevy is slipping fast into oblivion. I'd like to buy a Cadillac but I don't trust them. I sure won't buy a Malibu when a Honda is every bit as good, or a Ford. Why on earth would I?
My car is a Honda Fit but GM is still #1 in US car sales and the last time I checked that was a large market. Kodak is as close to dead as any company could be IMHO. Chevy is slipping fast into oblivion? Is that a joke or what ?

Last edited by jogiba; 03-07-2014 at 09:09 AM.
03-07-2014, 01:19 PM   #17

Join Date: Apr 2007
Location: Romania
Posts: 14,258
GM is not a good example. Their main shareholder was in a position to pour tons of money into "loans", and to orchestrate a large scale attack on their main competitor.
When you can go anytime - in your private, luxurious jet - to get more taxpayers money, competition laws are circumvented. And I bet people will quickly forget about the ongoing recall - 33 crashes and 13 deaths, they say - while still remembering Toyota's.

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