Anyone really think GM or Ford will make it past the 1st quarter of next year? May have to early retire out their entire rank and file employee base with full pay and full benefits (not the managements) but aside from that is it a good thing if these companies are allowed to continue given their obvious actual intent and history of recalcitrant behavior?
We're already hearing increased weasel noises from GM. Apparently per an article Nadelia (German ICE maker rep) posted on here today the GM North American head is making more "hiding behind" noises. Remember when GM hid behind its employees and its unions in its bankruptcy and Obama wasn't buying it and made bailing them out conditional on getting rid of their CEO and even zeroed out their shareholders? And since then GM has been trying to make it up with infinite stock buy backs and massive ads spends in the face of plant closures and withdrawing from major markets? Well, here we go again. The new weasels noises involve implying (strongly) that GM can't go all EV by 2035 if its customers don't support that. Let me translate that- what they are really saying is when they come begging 12 months from now for their 2nd rescue bailout in a little over 10 years it won't be because of anything they did or because of their status as a fossil fuel pusher but because the Biden administration pushed them where their customers didn't want to go! Just pointing that out now because that is total utterly transparent BS and no one should be allowed to say they buy it when it happens. If these two green washing laggards aren't much more EV centered in terms of actual market share in a year from now they stand to be bankrupted by a customer strike taking the down across the span of a mere quarter. What are they going to do? Hide it BMW style? Not going to work.
Even if they are bailed out if they aren't fully EV and off ICE in 2024 they will be bankrupt again within a year- they can't survive on a dwindling 10% of their sales. But just to be ridiculous they are trying to act like being fully EV 14 years from now is too aggressive- this is them already trying to place the blame elsewhere. There isn't any good will left for these companies- the public doesn't like them and its realizing that at an increasing rate.
GM and Ford oligarchs and execs know all this, their soothsayers in some drunken bar session must have told them and told Bill Ford too that they were going to have to ditch the plane or just crash, they know they are going down.
But look at the strategy difference for Ford. Although Ford's actual position isn't much different than GM's. Ford had its sales decline at least by what they will admit by 25% last year where Tesla's were up 36% with predictions for this year of Tesla sales being up 100%. (Something like a 9% decline bankrupted GM last time,) Of course Tesla was shut for almost a quarter last year- a good bit longer than Ford- but Ford had a demand due to lack of interest by consumers (a taste of what is to come) where Tesla had the opposite but welcome issue of trouble making cars fast enough to meet demand. So Ford's strategy seems to be to produce an improved compliance car Mach E (they will only sell in compliance numbers- that is their plan if you haven't noticed) advertise the hell out of it (too many of their ads for this defacto compliance car on this site) but again, not to generate sales but to make green noises so they can bait the hook and beg for their first bailout and they will lean on it being their first bankruptcy politically but we know it wasn't actually- would they have survived without the g-loan last time? They even made total pandering to the regulator noises- they actually advertised over and over again that they were sucking up to regulators- claiming it was virtuous because no one else was- that is how hard they've been preening for a bailout. But in the mean time their new CEO has actually dialed back from Hackworth on green, their F150 is a total punt- they are doing literally nothing but slap an electric motor and someone else's batteries in a F150 and spending on ads. VW said it would make 1/30th the batteries of Tesla through 2030 (like promising to make 1/30th the ICE engines and transmissions in the ICE era of a major competitor,) but Ford was even worse only just figuring out what it would have to say in its green washing by finally figuring or at least saying publicly that they would produce batteries in house. Up to that point Ford was announcing in apparently unknowingly that it would happily demote to a steel box coach builder because it was actually just a damn green washer and nothing else.
Maybe Diess pointed it out to them?
What's happened under Biden is a new indirect bailout for these laggards (granted the credits around the world have turned out super great maybe better than a carbon tax in their limited applications) but this tepid 170 billion is designed to give the appearance that GM and Ford will regain access to capital markets instead of being further de-capitalized and that it will also some how be safe to lend to these totally weighted down with debt foot dragging kicking and screaming laggards because of buy American or some such thing. Tesla is building capacity to totally replace them, they aren't needed- they are slowing things down and surely just financing a bunch of FUD to slow things further and lobbying for total anti green crap like a mileage tax with puppets like Buttigeig (see his fossil fuel money taking record on opensecrets.org.) Greenwashing efforts in the US have total bs in them like CA giving 70 million to hydrogen fueling stations instead of clawing back wasted money on that dirty fossil fuel scam.
GM and Ford will probably be fishing for there 3rd and 2nd bankruptcies respectively by the next election but by that time it should be pretty clear that they won't have market share that can be recovered. They will be whining about anti trust at that time- important to ignore their whining and just liquidate them and use the proceeds to allow all employees (not management) early retirements with full benefits. They have the same right to exploit (expressed as a right to pollute) entitled mentality that the South had at the end of the civil war, fossil fuels were/are cotton picking part II.
I think one of the reasons Ford didn't officially go bankrupt last time was because the US couldn't abide having all 3 of the big 3 bankrupt at the same time so it helped Ford in a way that prevented from going under for face saving reasons. But notice 2 time bankruptcy Dodge Chrysler went the way of AMC and left the country. Ford and GM are fossil fuel companies pretending to be green if we bail them out should we then bailout out Exxon, Chevron, Texaco- truth is we've been bailing out those crap companies every year since the 50s in so many ways. But enough is enough.
We're already hearing increased weasel noises from GM. Apparently per an article Nadelia (German ICE maker rep) posted on here today the GM North American head is making more "hiding behind" noises. Remember when GM hid behind its employees and its unions in its bankruptcy and Obama wasn't buying it and made bailing them out conditional on getting rid of their CEO and even zeroed out their shareholders? And since then GM has been trying to make it up with infinite stock buy backs and massive ads spends in the face of plant closures and withdrawing from major markets? Well, here we go again. The new weasels noises involve implying (strongly) that GM can't go all EV by 2035 if its customers don't support that. Let me translate that- what they are really saying is when they come begging 12 months from now for their 2nd rescue bailout in a little over 10 years it won't be because of anything they did or because of their status as a fossil fuel pusher but because the Biden administration pushed them where their customers didn't want to go! Just pointing that out now because that is total utterly transparent BS and no one should be allowed to say they buy it when it happens. If these two green washing laggards aren't much more EV centered in terms of actual market share in a year from now they stand to be bankrupted by a customer strike taking the down across the span of a mere quarter. What are they going to do? Hide it BMW style? Not going to work.
Even if they are bailed out if they aren't fully EV and off ICE in 2024 they will be bankrupt again within a year- they can't survive on a dwindling 10% of their sales. But just to be ridiculous they are trying to act like being fully EV 14 years from now is too aggressive- this is them already trying to place the blame elsewhere. There isn't any good will left for these companies- the public doesn't like them and its realizing that at an increasing rate.
GM and Ford oligarchs and execs know all this, their soothsayers in some drunken bar session must have told them and told Bill Ford too that they were going to have to ditch the plane or just crash, they know they are going down.
But look at the strategy difference for Ford. Although Ford's actual position isn't much different than GM's. Ford had its sales decline at least by what they will admit by 25% last year where Tesla's were up 36% with predictions for this year of Tesla sales being up 100%. (Something like a 9% decline bankrupted GM last time,) Of course Tesla was shut for almost a quarter last year- a good bit longer than Ford- but Ford had a demand due to lack of interest by consumers (a taste of what is to come) where Tesla had the opposite but welcome issue of trouble making cars fast enough to meet demand. So Ford's strategy seems to be to produce an improved compliance car Mach E (they will only sell in compliance numbers- that is their plan if you haven't noticed) advertise the hell out of it (too many of their ads for this defacto compliance car on this site) but again, not to generate sales but to make green noises so they can bait the hook and beg for their first bailout and they will lean on it being their first bankruptcy politically but we know it wasn't actually- would they have survived without the g-loan last time? They even made total pandering to the regulator noises- they actually advertised over and over again that they were sucking up to regulators- claiming it was virtuous because no one else was- that is how hard they've been preening for a bailout. But in the mean time their new CEO has actually dialed back from Hackworth on green, their F150 is a total punt- they are doing literally nothing but slap an electric motor and someone else's batteries in a F150 and spending on ads. VW said it would make 1/30th the batteries of Tesla through 2030 (like promising to make 1/30th the ICE engines and transmissions in the ICE era of a major competitor,) but Ford was even worse only just figuring out what it would have to say in its green washing by finally figuring or at least saying publicly that they would produce batteries in house. Up to that point Ford was announcing in apparently unknowingly that it would happily demote to a steel box coach builder because it was actually just a damn green washer and nothing else.
Maybe Diess pointed it out to them?
What's happened under Biden is a new indirect bailout for these laggards (granted the credits around the world have turned out super great maybe better than a carbon tax in their limited applications) but this tepid 170 billion is designed to give the appearance that GM and Ford will regain access to capital markets instead of being further de-capitalized and that it will also some how be safe to lend to these totally weighted down with debt foot dragging kicking and screaming laggards because of buy American or some such thing. Tesla is building capacity to totally replace them, they aren't needed- they are slowing things down and surely just financing a bunch of FUD to slow things further and lobbying for total anti green crap like a mileage tax with puppets like Buttigeig (see his fossil fuel money taking record on opensecrets.org.) Greenwashing efforts in the US have total bs in them like CA giving 70 million to hydrogen fueling stations instead of clawing back wasted money on that dirty fossil fuel scam.
GM and Ford will probably be fishing for there 3rd and 2nd bankruptcies respectively by the next election but by that time it should be pretty clear that they won't have market share that can be recovered. They will be whining about anti trust at that time- important to ignore their whining and just liquidate them and use the proceeds to allow all employees (not management) early retirements with full benefits. They have the same right to exploit (expressed as a right to pollute) entitled mentality that the South had at the end of the civil war, fossil fuels were/are cotton picking part II.
I think one of the reasons Ford didn't officially go bankrupt last time was because the US couldn't abide having all 3 of the big 3 bankrupt at the same time so it helped Ford in a way that prevented from going under for face saving reasons. But notice 2 time bankruptcy Dodge Chrysler went the way of AMC and left the country. Ford and GM are fossil fuel companies pretending to be green if we bail them out should we then bailout out Exxon, Chevron, Texaco- truth is we've been bailing out those crap companies every year since the 50s in so many ways. But enough is enough.
