 |
 |
Chinese Want To Buy the Big 3 Automakers
Jane Hamsher
Huffington Post
Thursday, Nov 20, 2008
It appears that the Chinese car makers SAIC and Dongfeng have plans to acquire the Big 3:
A take-over of a large overseas auto maker would fit perfectly into China’s plans. As reported before, China has realized that its export chances are slim without unfettered access to foreign technology. The brand cachet of Chinese cars abroad is, shall we say, challenged. The Chinese could easily export Made-in-China VWs, Toyotas, Buicks. If their joint venture partner would let them. The solution: Buy the joint venture partner. Especially, when he’s in deep trouble.
At current market valuations (GM is worth less than Mattel) the Chinese government can afford to buy GM with petty cash. Even a hundred billion $ would barely dent China’s more than $2t in currency reserves. For nobody in the world would buying GM and (while they are at it) Chrysler make more sense than for the Chinese. Overlap? What overlap? They would gain instant access to the world’s markets with accepted brands, and proven technology.
(ARTICLE CONTINUES BELOW)
All the Shock Doctrine fanatics cheering to drive the the Big 3 into bankruptcy “restructuring” (like Mitt Romney, who can kiss future hopes of electoral victory in Michigan goodbye) might want to think about the implications of this.
Of course the same legislators clamouring for bankruptcy could block the sale. (This assumes they have the fortitude to stare down the Chinese, who currently hold a whopping portion of US debt, and deny them something they really want). But in doing so, and at the same time refusing a bridge loan to the automakers, they are basically legislating the destruction of the Big 3. They will be forcing them to stiff all their creditors and stockholders and tear up their union contracts by refusing to let the “free market” they love to bang on about step in and assume the company’s legitimate debts. Or were all those insufferable lectures about “personal responsibility” when the bankruptcy bill was going through just so much claptrap?
Because selling the company would be far preferable to the Big 3 and those who are dependent on them than Chapter 7. But long-term it would not be without peril for the US. As one FDL commener noted:
With no big three making cars what to stop Toyota and Honda from moving the plants to Mexico where costs are really low. Its only the threat of being shut out of the American market that keeps the Japanese building cars here. If we no longer have cars made in America by American companies we will have no choice but to buy their cars no matter where they are made.
I know long-term thinking isn’t his forte. But as Richard Shelby is salivating at the prospect of yet another BMW SUV plant in his right-to-work state, it might be something for him to consider.
Research related articles:
- Skype admits privacy breach by Chinese partner
- Chinese Regime Resumes Blocking Websites Opened During Olympics
- Chinese military planes for Venezuela
- Meet the World’s New Currency: the Chinese Yuan
- Chinese activists tell UN of state torture
- Trouble for Chinese Who Speak to Foreign Media
- Fed approves Chinese bank CCB to open office in US
- Chinese man kills relative of US Olympic coach in Beijing
- Chinese Rights Advocate Tortured in Captivity
- Meet the World’s New Reserve Currency: The Chinese Yuan
- Chinese Communist Media Fabricates Interview to Slander Voice of Germany
- Russian, Chinese defense ministers to meet in Beijing
-
- Social bookmarks
- Email this article
- Print this page
43 Responses to “Chinese Want To Buy the Big 3 Automakers”
Leave a Reply
PRISON PLANET.com Copyright © 2002-2009 Alex Jones All rights reserved. Legal Notice
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
November 20th, 2008 at 12:05 pm
If that happens, I will buy German or Japanese made cars only.
November 20th, 2008 at 12:20 pm
Boy arent they smart, people will agree now for us to bail them out so they dont go to the chinese! real smart there wasnt it!
November 20th, 2008 at 12:30 pm
Cool, no car companies in the country that invented the car!
November 20th, 2008 at 1:33 pm
Hey serf - here’s a quote from wikipedia:
“Karl Benz generally is acknowledged as the inventor of the modern automobile. An automobile powered by his own four-stroke cycle gasoline engine was built in Mannheim, Germany by Karl Benz in 1885…”
http://en.wikipedia.org/wiki/Automobile#History
November 20th, 2008 at 2:24 pm
The big 3 execs don’t give a damn. All they want is money. Millions of jobs are lost regardless. They don’t care if it’s chinese money or tax payer money, as long as they get richer.
November 20th, 2008 at 2:26 pm
karema you won t have any money to buy anything
maybe obama will buy you a nice chinese made bicycle
November 20th, 2008 at 2:55 pm
Thanks again Greenspan, may you rot in hell along with Bush Cheney and the rest of the cabal.
They can buy the Big 3 for fire sale prices with all their dollar reserves.
Anheuser Busch dropped this week, now owned by Inbev but really owned by the Brazilians.
http://www.chicagotribune.com/.....0931.story
I wonder if we can some sucker to buy Congress from us and ship them overseas.
November 20th, 2008 at 3:17 pm
If the automobile manufacturing is lost, then so does all the R&D into manufacturing and design. Congress are being more careful this time - they want to see a valid business plan before they hand out any money.
November 20th, 2008 at 3:21 pm
This, from Bob Chapman’s “The International Forecaster” to put the auto industry chaos in context: http://www.theinternationalfor....._The_Brink
“The Plunge Protection Team has allowed (other countries) to artificially devalue their currencies to achieve unfair trade advantages so the Fed can hide the inflation it has caused through profligate growth of the money supply from the US sheople. The Chinese, Japanese and EU trade surpluses have also been created and fostered by the free trade, globalism, off-shoring, outsourcing, and both legal and illegal immigration agendas which have brought our auto industries to their knees and have sent our manufacturing industry and our good-paying jobs overseas.”
-
But don’t worry, bailout money will get to them via Goldman Sach’s once they’ve shorted them, via equity swap, newspeak (read 1984 by Orwell) for hostile takeover. I’ll coin a phrase, its: Nationalisation via Public-Private Partnership. Exactly the same as Mussolini’s Corporatism, or Corporate Fascism.
November 20th, 2008 at 3:50 pm
If the automobile manufacturing is lost, then so does all the R&D into manufacturing and design.
November 20th, 2008 at 4:00 pm
I’d rather go to work on a pogo stick than buy a chink car that cost me 10 thousand dollars in repairs per year and is a freekin death trap that stalls when pulling out on the highway.
November 20th, 2008 at 4:01 pm
how cares all American car suck anyways and so does the r&D
they had a long time to get hybrid cars out and they till keep it of only to the rich…
November 20th, 2008 at 4:02 pm
Here’s an idea! Sell the big 3 to China for 1 Trillion dollars then with that money send every working man and women in America a check for $2500 !
That will make a terrific down payment on a Toyota Tacoma.
November 20th, 2008 at 4:06 pm
Quit buying internal combustion engine cars.
November 20th, 2008 at 4:29 pm
Good, I want a Wongstang!
November 20th, 2008 at 5:04 pm
Detroit has been building junk and supporting slackers long enough, we need to get into the race! No more hand outs!
November 20th, 2008 at 5:22 pm
Ignorance is bliss.This is a direct result of the financial market collapse,period.Now to all of the FOOLS out there that can’t see past yesterday or further ahead than 5 minutes ago.Hybrid???-who in this country (besides the far left tree huggers) wanted to drive one of these 5 yrs ago? The big 3 has catered to all that drive the big suv,trucks,and safe vehicles with power.That is what the majority wanted(until gas went to $4.00+)The big 3 has also provided countless jobs with major benefits to many Americans.They have also been restricted and mandated by the Govt. and the union to uphold very high and expensive standards to their employees,unlike the imported competition.Are they perfect?NO.
Should things change?YES. Imagine it…..why not just import everything? It would be cheaper…..LMAO
November 20th, 2008 at 5:25 pm
i live in china. the volkswagons built here are great. the subcontractor builds to the contractore specs. it is ultimately up to the contractor to guarantee that standards are met.
yeah, cars like the cheery and the geely’s are crud. but there are plenty of great cars coming out of china. the workhorse of china’s taxi fleets, the the vw SANTANA is a keeper.
November 20th, 2008 at 5:28 pm
Hybrids are a scam taregted to idiots who can’t use a calculator or do simple math. It takes 7 years of use just to break even with the energy it takes to make the battery.
I just bought a new Tahoe. It gets 20 MPG and costs $12k less than a little shit box hybrid.
I saved enough to buy way more gas than a hybrid will ever save me.
November 20th, 2008 at 5:41 pm
Kevin,
What are the wages paid to the workers that manufacture these fine Chinese vehicles?
What is the retirement plan?
What are the workers right as mandated by the Chinese Auto Workers Union?
Oh…..They get $2.00usd/day?
November 20th, 2008 at 5:46 pm
I have an 07 GMC Z71 4×4,best vehicle I’ve ever bought.Avg 17+mpg
November 20th, 2008 at 6:28 pm
Mike in Utah
Put a K&N air filter and bring it up to 19mpg or better
http://www.knfilters.com/
Made in USA
November 20th, 2008 at 6:29 pm
Hey Mike in Utah
Put a K&N in that GMC and get it up to 19mpg
knfilters.com
Made in USA
November 20th, 2008 at 7:14 pm
Look at the leaders we’ve followed
Look at the lies we’ve swallowed
And I don’t want to hear no more
My hands are tied
for all I’ve seen has changed my mind
but still the wars go on as the years go by
with no love of God or our human rights
and all these dreams are swept aside
by bloody hands of the hypnotized who carry the cross of homicide
And history bears the scars of our civil wars
G & R
November 20th, 2008 at 8:25 pm
GM is a corpse, the Chinese make money on GM models by replicating them with crappy parts and 4 cylinder engines with 70 HP. If they acquired GM no one in their right mind would buy the cars anymore. Bankruptcy Re-Organization has saved many companies and kept as many people working as possible…….. There is no point in throwing money at a corpse it will spend the money and come back for more in a few months (Thank you Shelby)
November 20th, 2008 at 10:59 pm
When a nation (China) that was considered poor 50 years ago can afford to buy the company (GM) that was the biggest company on earth 30 years ago and probably pay cash for it; there’s probably a lesson in there somewhere.
Doesn’t it seem strange that in the space of two years time alone, we’ve had skyrocketing oil prices (now somewhat in decline), a world food crisis and now an “economic meltdown”?
November 20th, 2008 at 11:53 pm
Its all by design .. Remember we are trailing way behind the elites actual agenda .
You will probably find that its not about which country owns what..Buisness is buisness its only the idiots with their nationalisms and workers pride that believe it has to do with their country . The elites are just strategically passing the baton from one hand to another .
Wake up and smell the bullshit .
November 21st, 2008 at 1:48 am
Yeah thanks micro, I sort of figured something was up.
November 21st, 2008 at 1:49 am
Yeah thanks micro, I sort of figured something was up.
November 21st, 2008 at 2:04 am
Screw that. Bailing out the big 3 or letting China purchase them gives China more control over us. China is blatantly owning us to the point we will have zero control over our country. They are dominating us through economic means instead of military. If China wants to dare crash us, then they need to bring it because we will bring them down with us.
No bailout and China cannot be allowed to own the big 3. Actually, no foreign country should be allowed to own any critical U.S. infrastructures or industries. Let new American businesses fill that void, so we can then export American made products.
November 21st, 2008 at 5:53 am
Tell that to Bush SR who privatized all of our infrastructure with his Executive order 12803. Roads, bridges, ect are sold to foreign corporations who can then tax us for using these parts of the US infrastructure.
This was done in April of 1992….
November 21st, 2008 at 6:42 am
Yah,ain’t we smart.We’re paying them to fuck us.
LOCK AND LOAD
November 21st, 2008 at 7:42 am
go ahead they make junk any way ford a4ld tranny
November 21st, 2008 at 8:09 am
Micro,
I have heard this argument. If this is really true….WHO WINS??,Who does(out the elite)end up with the baton? Russia ,China,U.S.,Europe……WHO?
THINK MAN
November 21st, 2008 at 5:34 pm
Me wan China by an make GM ca. Me work 25 dolla a month me soo happy. tank you so much!
November 21st, 2008 at 8:37 pm
Funny as the day is long…..
November 21st, 2008 at 10:03 pm
I own 4 American Muscle cars,I can’t even go to the parts store and buy anything for them anymore without it saying made in China,I refuse to restore classic American Muscle with inferior Chinese made parts,therefore,my muscles don’t get any exercise…
anyone want to buy a Cutlass or 2??
November 22nd, 2008 at 10:22 am
time for a revolution
http://www.A.R.M.revolution.org
November 22nd, 2008 at 3:37 pm
Time to do just the opposite of nafta and all the other bullshit ideas our government dreamed up to make themselves and their friends wealthy. We need to close up our borders, and keep commerce here in the US. The reason all our money went to China is because smart US companies realized they good get cheaper goods to bring back home and sell here because the chinese government does not give a fuck about slavery or pollution. So the next time you go to Walmart, feel good about yourself for supporting the communists and their human rights violating ways. Time for a revolution yes, lets hope we can do it without weapons.
November 22nd, 2008 at 10:03 pm
I would rather “Buy Out” the car companies and keep it all American than “Buy Out” the bankers, although they are all corrupt!
November 23rd, 2008 at 3:03 pm
as an innocent canadian bystander,i have a 31 year old chevy van that gets 25 mpg a yard full of chev stock cars trucks i even have a gmc bicycle .i dont care if gas is $700 a gallon i will support our continent .as for governments ours are much the same.the politicions dont fear us we fear them.there is something very wrong here.i will not drive a lingloing suv iwill build my own car first with parts made in canada or theU.S.A.
November 24th, 2008 at 7:39 pm
i will never buy a car made in china!! sorry
November 24th, 2008 at 7:43 pm
ITS TIME FOR AMERICANS TO WAKE UP! LET’S PROTEST TO THIS BAD GOVERMENT ,FULL OF LIES.