The stimulus package (outside of the TARP funds, etc.) was just approved today. $789 Billion USD of our tax dollars.

http://news.yahoo.com/s/ap/congress_stimulus

The car makers (GM and Chrysler, Ford didn't ask for any $$$) have provided explanation ad nauseum to the government regarding the turn-around plans, exactly what the costs are, how the money would be spent, and when the money/taxpayers would be paid back. (The only other time this has occurred in the Auto industry was Chrysler in the 80's, and they paid back the loan + interest.) They are due to report back to Congress this week I believe on their detailed plans and Congress's assessment of their long-term viability. Every other country on the planet is feeding money into their manufacturing sectors due to the global financial crisis, why would we be any different. FYI....Toyota went from 19 Billion profit to 3 Billion loss from 2007 to 2008. It's not just the US car manufacturers struggling today.

The Financial sector is another story (there appears to have been no direction from Congress on how that money should/would be spent.) 350+ Billion spent already

The company I work for (Ford) has reduced it's overall workforce over 50% in the last few years. It's the reality of the world today, we're in a down cycle....it will turn around.

 

Yea this economy is hurting everyone around the world, not just us in N.A. Yes this is one of the worse one since Great Depression. But just like the typical cycle of economy. The economy always go through the cycle of boom and recession over and over again every 10-20 years. So it will get better again, but during the down time, is always good to have back up plans to survive instead of relying on government help. The stimulus plan can only do so much. Yea I m well aware that the stimulus plan already passed, but I m almost 100% certain that it won't be able to make a scratch in helping job economy to get better. The best it can do is prevent the economy to get worse, that is the best it can do, which the odds is pretty slim. Most likely it can only prevent the job economy to tumble down like a domino effect and completely collapse US economy (which will spread to the world as well). And I believe President Obama even said that himself, it is to prevent the economy from getting worse, won't be able to recover the job economy just yet. In fact, a typical recession takes about average of 5 years to recover, and this one is exceptionally bad, so I think is safe to say is gonna be longer than 5 years to recover. Yes all the things I said sucks and yes they all sounds very discouraging and depressing, but it is pretty much the truth.

Looking at the bright side though, at the extremely tough time is when exceptionally great bright ideas, inventions, or great talents that push us the people to come up with something exceptionally good to help us survive. Just like after great depression and WWII, we sent humans to space. A major break through and baby boomers come along. This one, who knows, we might see something like sent humans to other planets and world. Yea I might have imagined too much or exagerated, but something great is bound to happen, and I am keeping myself positive to look forward for something great to take place!!

 

well if you think about it. the government is saying they are doing their best to avoid the soon to be great depression that may in fact happen with everything going down the drain. The reality is, the government and high up people cover them by using us as pawn's and once we are not needed or have no money for us to be needed. So they lay people off and nobody buys much anymore cars are not selling, everything is effected as Petroxg said it is like an domino effect and everyone suffers. unless you have a job that is secure.. but these days nothing is secure except for insurance companies, police officers, hospital workers and fire fighters and other such places. my parents for example are not worried due to their jobs are secure because people need insurance adjusters and my mom works in a hospital. However last year i had no problem finding jobs anywhere. now to this day you cant find anything after going through resume after resume after resume. We may be at our peak, however something tells me its not over and soon there is going to be something so huge that not even the government itself will be able to save it. its just the world as we know it. We are all hurting. maybe not yourself personally but someone close to you is hurting just as much as anyone like myself. even with college education it doesnt mean a job. there are many people with a college education that are laid off or can not find a single thing. we are headed for the great depression but we wont go down without a fight.

 

You may be right. But Saturn has the best figures out of GMC/Buick/Saturn. They just don't get the word out. I know that there was a contract signed and Saturn is going to be around until at least 2012. But that doesn't mean that every dealership will still be around.

 

2012? The year the world, as we know it, ends? If you believe all the extremist propaganda.
My wife has '95 SL1 (4dr sedan, 1.9L SOHC, 100hp on a good day, 5-speed) and overall it's been a pretty good car, but hardly exciting. It is easier to work on than my 3 series. Simpler.
BUT, Saturn has been the red-headed step-child of GM for a long, long time. This has led to a lot of mediocre models with quirky and unpopular traits.
It's too bad really. I LOVE the plastic side panel idea of the original Saturn's, like my wife's. I HATE the brakes in that car, which are practically nonexistent compared to my 3. The shifter is sloppy but effective. The clutch system hydraulics must be replaced as a unit, but again, not too bad an idea. It was under $200 and changing out the master and slave cylinders at once is probably a good idea.
HOWEVER!!!! She once got stuck when the 0.50 plastic shifter bushing went bad and the car would not go into, or out of any other gear. For a simple piece of vacuum formed plastic, we paid over $400 for; a new shifter handle, both cables (there was nothing wrong with any of these parts,) that stupid little 0.50 bushing, and the labor to install the whole mess!! I was NOT a happy camper about that and told Saturn about it too.

 

2012 thats in 3 years aha. i dunno if i believe in the whole the world will end in 2012. if they do im not going out without a big bang!

 

You would be surprised, I found out that Saturn's newer line (every vehicle) is the only one to win awards and be recognized for the new line. I have seen those damn S cars come in to the shop with 300k + miles. It's ridiculous, and they don't always run perfect, but they are still going. They do have a problem with burning oil, but other than that theres nothing really common that can't be avoided with regular maintenance. I am not the biggest fan of our new line, nor do I think that GM went the right way with making it "the red-headed step-child" as you put it. The customers who are loyal to the first line of Saturn's have stuck around, and it has brought in a new crowd...but the quality has gone down so much that the new crowd and old crowd are turning away. I see a lot of new Saturn's on the road, more than new Buicks...but maybe that's just Michigan, because I've never seen as many in Indiana or any other state that I've been in.

 

I like that attitude, I m with u on that one!

 

sstlaure,
I guess what I'm trying to say is that it's hard to give help to some of the major automakers because of the salaries that are being paid to the CEOs. GM CEO Wagoner got a 33% raise for 2008 and equity compensation of at least 1.68 million for 2007, a year for which the auto maker reported a loss of 38.7 billion. The salary increase puts him at 2.2 million compared with 1.65 million in 2007.
Ford CEO Mulally recieved 2 million in base salary, a 4 million bonus and more than 11 million of stock options in 2007. Mulally has earned 50 million since taking the helm of Ford.
Chrysler CEO salary is not reported because they are a privately held company.
Trust me I don't want to see anyone out of work!! But the salaries being paid to these CEOs during these hard times is UNACCEPTABLE

 

Actually I do believe what u said. Everywhere I go I see way more Saturn than Buick. But then Saturn and Buick are not in the same league. Saturn is economy cars and Buick is considered luxury segment. Naturally, there are always less luxury cars than economy cars cuz most ppl can only afford economy cars. However, during the down time (recession) ppl that can only afford economy cars won't buy cars, they are can't buy anything and that will really hurt Saturn. The more financially well off ppl that buy luxury cars usually don't get affected by recession much, and thus, Buick will more likely to sell more than Saturn during recession time. And I don't know if this is true, but I heard that for car manufacturer, the cost of labor for them to built luxury and smaller economical cars are exactly the same, but luxury car sell a lot more. The only thing that cost more for luxury car is probably the materials and parts that make them. And I am assuming labor is probably the thing that cost car manufacturer the mosts more than anything else due to benefits paid to employee and Union. At the end, luxury car such as Buick will be the one making more profits for GM than Saturn especially this down time or recession if u would like to call it. So I can see why GM is considering getting rid of Saturn and possibly Pontiac as well.