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China Considers Buying Distressed U.S. Automakers
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Huliq News
November 20, 2008
Under the sway of the global financial crisis, the U.S. auto giants General Motors and Chrysler LLC are tottering on the brink of collapse. Japan’s Toyota Motor was previously rumored to buy them out, but now Chinese carmakers SAIC and Dongfeng are also said to have plans to acquire the two U.S. auto companies, reported the 21st Century Business Herald today.
- A d v e r t i s e m e n t
On November 15, a senior official of China’s Ministry of Industry and Information Technology — the state regulator of China’s auto industry — told reporters that the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers.
An industry analyst noted that the global financial crisis has forced Chinese manufacturers to retool and upgrade themselves in order to meet and survive the challenge. Many enterprises dependent on low-value-added manufacturing will be driven out of the new wave of competition by technically innovative and financially sound rivals. It would be much easier now for strong Chinese automakers to go global by acquiring some assets of their U.S. counterparts in times of crisis.
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November 20th, 2008 at 10:32 am
If CHina Buys the US automakers they will close the plants and ship the technology to china tolearn how to make cars. This will destroy the US auto industry.
November 20th, 2008 at 10:43 am
HINDA TOYOTA KIA HYUNDIA ARE ALREADY HERE…………………………. WAKE UP PEOPLE……………………….BUSH/CHANEY/ROVE DID THAT……………………………..
November 20th, 2008 at 10:59 am
Great, imagine new Chinese cars; we’ll have to take them back 100 times ‘cos they fall apart like everything else made there. Or worse, they’ll kill us with their chemical manufacturing processes during a test drive. Ah, I’ve long ago boycotted buying from China (all that I can at least) and this would certainly step up my little boycott. I’d rather pay 4 times more for something made in North America or Europe.
November 20th, 2008 at 11:08 am
And, the dispossessed would inundate them with applications.
November 20th, 2008 at 11:09 am
to the post #1, American cars nowadays are built just as poorly as Chinese electronics. that’s the reason why they deserve to go bankrupt. whatever that’s made in USA is made by illegal immigrants working for sub minimum wages in a sweatshop. “made in USA” is not as it used to be.
November 20th, 2008 at 11:23 am
New Age
(New Age Movement and New Age Spirituality) is a social collective phenomenon and a spiritual nature movement that seeks universal truth through the oneness of humanity. It combines aspects of spirituality, cosmology, esotericism, complementary and alternative medicine, various religious practices, and environmentalism. It is characterized by an eclectic and individual approach.Old Pagan religion is the New World Order revived….
Check out this video…..
http://posmedprod.webs.com/newagereligion.htm
November 20th, 2008 at 11:30 am
The management of these companies has already destroyed the US auto industry, by giving in to any and all union demands and by making decisions based on next quarters stock performance to ensure their bonus, they have wreaked destruction upon themselves, and to a much larger degree than many think, this will have an effect on the whole economy. The Auto Industry was the number one main reason for the boom of affluence and “good times” of the 50’s and since. Now that most other jobs are being outsourced (by your own politicians, right in front of you) these jobs are also going to go away. Either way the American standard of living is going to take a huge hit here, the “good old days” are long gone, and by design…
November 20th, 2008 at 11:38 am
The Chinese may want the machinery,but they want nothing to do with the fat,lazy,spoiled union workers!
November 20th, 2008 at 11:44 am
What do we have left here anymore? Some of us have been warning for years what’s happening and a lot STILL don’t get it. Our own government sold out to the global elite years ago. I’ve been looking for a job since May and holiday time is here and it’s three times harder. I have relatives in Detroit area who retired from the auto companies. Those days are gone.
November 20th, 2008 at 11:50 am
I remember when I was a union steward at Norfolk Southern Railroad a few years back. I used to tell our members they needed to buy up as much stock in our company as they could. That way, no one could disposess us of our jobs, or force pay cuts. If you own the company, you control the decisions it makes. My fellow “brothers” (I use that term loosely) decided to ignore me. They chose instead to buy fancy homes, new trucks, jet skis, and expensive vacations.
As far as I am concerned, American workers are stupid and lazy. The average worker has no foresight, fails to recognize globalism as a threat, and cares for nothing outside of their own little world. People who post here need to understand that we are a minority in this country. Most Americans would never view this site, or others similar to it. Between the Obama Communist supporters, and the “rapture-ready” religionists: We as informed citizens are forced to live amongst those content with fantasy and myth. There is no Communist Utopia, and you will not be raptured away. We have sown this field of dreams, so now we must reap the nightmares that come. This is reality, and it is high time that Americans recognize the seriousness of it.
November 20th, 2008 at 11:53 am
These attempts by communist nations to buy into the American economy is nothing more than an continued sell out produced by eight years of Clintonnomics. More money not circulated to fellow americans. and even lower wages, and new health care by Hillary.
I drive a Toyota, assembled in America, by Americans. I bout it because it wears better than ford or chevy and costs less for maintenance and repair costs. And Toyota out side the USA is still a manufacturer in the FREE WORLD!
comment for #2 Toyota cars have been here since the 70’s dude, wake up and smell a another rose, that one was dead.
November 20th, 2008 at 11:55 am
this was probably part of the big picture deal with china from the begining-transfer of wealth-if 3 million workers lose thier jobs,maybe they can be woke up-people have to lose everything before they can figure out they have been cheated-3 million people plus families and friends getting pissed-the elite-the poor-welcome to the poor people-live free or serve your master-get mad-spread the word-wake up
November 20th, 2008 at 12:14 pm
Ahh, the Chinese are playing their “get technologiy” cheap game again! Here in Europe they played that game with Rover/MG.
Remember that they also have a unique “enslaved” workforce of millions, the resources, the arms and soon also the technology to become a true World Power. Surpassing the USA easely, while plundering Africa and setting up trade Aliances all over the place!
While we are talking about shitty problems of ethics and morals, earnings and profits. Waging wars for a few drops of oil and the bringing of democracy to people that obviously don’t want it. We need to let go of that colonial, we are the most civilized nations, thinking!
November 20th, 2008 at 12:18 pm
P.S. I worked for GM, for about 8 years!! This was coming their way a long time ago and it finally arrived!! The way that they spend money is unbelievable?!?! Those idiots!
November 20th, 2008 at 12:37 pm
American Cars are well made. We had a Korean car and it broke down all the time. I talked my parents into buying US. We have a Ford Escape with 40,000 miles on it and it hasnt been to the shop once. I bought a dodge caliber and it has 4000 miles on it and its very reliable.
November 20th, 2008 at 12:37 pm
Let me get something straight, right out of the gates. If the Chinese can buy our auto factories and manufacture cars for a PROFIT, then what is our problem?
On the bailout proposal for the big three: Why should American workers, making $8 – $15 an hour, pay for those at GM making over $30? Let me guess, the UAW will not compromise wage and benefit packages.
I worked for Ford for several years in the ’80’s, and made $19.72 an hour plus good benefits when I left. I would have done the same work for $10 – $12 !!!!!!!!!
This “house of cards” is falling by design IMHO.
November 20th, 2008 at 12:47 pm
LET THEM FAIL !!!!
November 20th, 2008 at 1:08 pm
I just lost repect for Alex Jones, he talks the talk but has just admitted “he is a traitor”
ALEX BUYS JAPANEES CARS HOW MUCH OF A BIGGOT IS HE? TOTAL UN AMERICAN< I have a business and have several ford diesel trucks which get 500,000 miles and litlle trouble, he thinks american cars are not good BUL:L, they did have thier trubles in the early 80’s when they were going into new technology’s and have since streamed linned them, HOW DARE YOU ALEX< TRIATOR < UNAMERICAN BIGGOT!!!!!!!!!!!!!!!! Yes i am soo Pissed at you n will not spell check , TRAITER
November 20th, 2008 at 1:11 pm
If our government or China is involved,you can be sure that it will be the end for all of them,
{big 3 }.Boy our asshole govt was sure quick to bail out thier evil bankster friends,which sure has helped us all greatly!
Americans should have had our best interst at heart when they started buying all the imports back in the eary seventies,however if U.S. autos would not have been big block powered gas drinkers,of sub par quality,and poor fit,with high prices,maybe we could have been competetive,
but now they are 10/15 years behind the import companies,in innovation/efficiency/technology.
This truly is a sad time in America,those of us that depend directly on the “industry”,or
auto related businesses will all suffer greatly,while thier Excecutives are flying around in
thier private jets,enjoying themselves,deploying thier”golden parachutes”
MAY GOD HELP US ALL<BY TAKING THE SWORD OF TRUTH STRAIGHT TO THE HEART OF ALL EVIL! Madmatt
November 20th, 2008 at 1:14 pm
Would someone besides me call and write congress, it’s not hard you know,
This has plain got out of hand, Revolution is at hand right now, and you know? And the congress knows it, And don’t think for one minute our large citys don’t know it’s coming, there are perparing for it, do you see all the new cars and vans being bought!
There was a thing in the big three that if it has technology based products for our defence it can’t besold, The 2 major tank plants should cover that Not counting the Engine plants, And then there are the Missle plant assy,lines, This government gives these away. You bet a Revolution will start,
And I for one won’t miss it,
Take a guess how many American Companys are in china building there Dams, and other important inferstructions, (?) spelling? well any way you get it
Great comment Jeremy!
The transfer of wealth see Dubi, And Michigan State University just open their new campus last week, how about that, I can not stand those rich Rag heads, OH and see the great American company building there, From MI Walbridge Contracting, Inc.; Walbridge-Canada; Walbridge de Mexico; Walbridge Tilbury Ltd. (Dubi) Now there a green company Not like in mexico where shit was everywhere, and the pay You know, in food or
I ‘ ll stop here with
LET”S Rise to the ole Constitution
November 20th, 2008 at 1:39 pm
If you link to the article, it goes on to say…
” In the coming two years China is likely to see a few of its large Chinese automakers and other manufacturing enterprises set a precedent for achieving globalization by acquiring global companies, just like SAIC or Dongfeng’s possible acquisition of troubled GM or Chrysler. “
November 20th, 2008 at 1:39 pm
Ecuse my dictionary ” Hypocrite”, its people like Alex who are responcible for the destruction of the American Standard of living!, still thanks for your show, i will Still Call You A Hero but man, Sell Those JAP CRAP CARS AND SHOW YOUR PATRIOSIM AND BUY AMERICAN!
November 20th, 2008 at 1:43 pm
THE CONSTITUTION SAYS NO FOREIGN GOV. CAN OWN AMERICAN PROPERTY.
POSESSION IS 9/10THS THE LAW.
WE WE REVOLT, WE TAKE IT ALL BACK.
November 20th, 2008 at 2:01 pm
poster #25, I hope you guys will revolt soon for real. I don’t understand what’s taking you so long.
November 20th, 2008 at 2:45 pm
Whoa! Wait just a minute here! We are currently considering giving the Big 3 auto makers a very large financial stimulus package. In the event the Red Chinese do manage to get America’s consent to purchase any or all of these companies, what happens to the reported 25 Billion Dollars? As with the 700 Billion, we the tax payers are going to just eat it? Enough of this crap. I would rather see the government nationalize these corporations.
And, “Question Reality”, I had a 2000 Silverado that I could barely keep on the road. Upon further examination, I discovered the suspension was made in Mexico. ‘Huecho en Mexico’ stamped right on the bottom leaf spring. Just more foreign crap.
November 20th, 2008 at 2:54 pm
It might be good really if China bought the big three, don’t get too mad at me just keep reading, the Chinese would probably get rid of the unions, increase the quality of the vehicles, lower the cost and start selling the vehicles all over the world. This could put lots of Americans back to work. We would be working for Chinese masters but that’s better then being out of work and going to war for israeli masters. A bail out would just give the corporate executives some party money for awhile then they will be broke after the blow all the money anyway.
November 20th, 2008 at 2:58 pm
#23 you’re on Prozac, huh?
November 20th, 2008 at 3:00 pm
Congress needs to grow some balls…this is ridiculous.
oh don’t hurt me Paulson…waaaa! waaaa!
Fluoridated bastards!
November 20th, 2008 at 3:12 pm
I dont even know how to respond to this…. oh wait i got it:
You Speak Chi Nese!!!!
November 20th, 2008 at 3:50 pm
American car has really gone out of touch these days. But i think that people should buy cars made in America to support it’s own country. Third world country here we come..oh boy
November 20th, 2008 at 3:51 pm
To Andrew #28 -
Sounds like you don’t miond working for a “master” as long as you get to choose the master. I fail to see the difference. a slave is a slave.. no matter who his master is. Even a slave has job security, which it seems is what your concern is. What difference does it make to you.. as long as your concern is only for yourself and your job?
Let the Chinese buy em’ out and take the industry to China. They are killing their country and plus it would be interesting to see what the Unions would do. Another “Union pension bailout” at the expense of the citizen?
Take a private citizens plans for a future and tax them out of their savings to support a union pension plan?
Nahhhhhhhh.. let them fail.
People will only see the light when someone lse turns it on for them.
Henry Ford would have wanted it this way.. just like Sam and the rest.
we have lost our pride and dignity as a nation. You cannot negoiate those items at a bargaining table for money. If you do.. they meant nothing to begin with.
November 20th, 2008 at 4:09 pm
#34
Well we are all really slaves but I was just trying to make a point really, if the big three made a quality car at a good price they would be selling them around the world and they would be rolling in dough, they have had decades to do it, yet the employees keep looting the companies, everyone from the guy who puts on bolts for $70 hour to the executive that get millions of dollars a year, all this to produce crap. Is any body really stupid enough to think that the government giving them money with strings attached will cause the companies to make a quality product at a good price? the unions are one of the dems biggest supporters that’s why the dems want to bail them out they don’t care about America.
November 20th, 2008 at 4:30 pm
Really why should I have to pay some northern a$$hole who thinks hes better than me $70 an hour to stand there like a retard and put on bolts to make a piece of crap overpriced car? Then I go get a loan from a Jewish bank where I end up paying 60,000 dollars for this already overpriced 30,000 dollar crappy car so I can get to work at a job that sucks everyday so they can take half my money in taxes each year. If half my money isn’t enough for them they just put up stop light cameras, police with radar guns and steal as much of my money as they need, yeah your right, I’m a slave
November 20th, 2008 at 4:43 pm
The real question we should ask ourselves is who’s trying to con us once again into believing that this would ever happen? You must be kidding to believe that this would every really happen because if it did, the automakers who are all so pure of heart would be out of jobs, loose their jets as well as bonuses. No, just follow the money as they are not done yet in trying to squeeze the onion once again sometimes referred to as the GDP (Gullible Dumb Public) so the people will plead their case to Congress to get their money.
November 20th, 2008 at 6:19 pm
Alex Jones always highlights the problems – Fed, NWO, Bilderbergers, police state etc. He never gives equal time to finding solutions. Something which Ron Paul does – he talks about monetary policy, political activism, economic issues – matters that can make a difference, that can actually bring down the NWO.
Why does AJ do it? Ignorance? Business as usual? I think it is deliberate deception. Like ‘deer in headlights’. Keep people overwhelmed and confused by problems, so they can not clearly think about actual practical solutions.
AJ looks like a black op. He does give some useful information, but it is always mixed with enough disinfo to keep people away from real useful solutions.
When he says….’Infowars…because there is a war on for your mind’, I hope the intelligent observer deciphers the clever doublespeak the line is.
November 20th, 2008 at 6:24 pm
as crappy and plastic as american cars have evolved to, i would have less faith in a chinese built automobile. they would prob. use lead paint to try and give us more cancer. screw them and all their plastic rickety crappy products they force down our fat lazy gullable throats!
November 20th, 2008 at 7:44 pm
So I can go to WAL-MART and buy a new car??? YIPEEEE!!!!!
November 20th, 2008 at 9:55 pm
Meanwhile….The First of Many “Shoes” has just dropped
Chrysler supplier GETRAG America LLP declared Chapter 11 bankruptcy on November 17th
http://www.manufacturing.net/N.....uptcy.aspx
STERLING HEIGHTS, Mich. (AP) — Getrag Transmission Manufacturing LLC said Monday it filed for Chapter 11 bankruptcy protection for its Tipton, Ind., facility after Chrysler LLC pulled out of a financing options agreement and left the plant without a primary customer.
The $530 million facility was being built for the sole purpose of making dual clutch transmissions for Chrysler, so when the automaker terminated the deal last month, the German manufacturer said it was forced to stop its operations in Tipton and cancel the project.
Getrag said the filing, which only involves the Tipton facility and doesn’t affect the other Getrag operations in the United States, will allow it to deal with claims related to the project in an orderly and equitable fashion.
The company also said Monday that it filed a countersuit against Chrysler to recover costs related to the project and the reimbursement of expenses incurred by Getrag and its suppliers in connection with the project.
I would say that the “Dominoes” are starting to fall
November 21st, 2008 at 1:36 am
twas a sad day when I woke up 12 years ago and I realized that foriegn powers need not fire a single shot on our soil all they have to do is come over here with a couple billion dollars and buy the place
November 21st, 2008 at 1:41 am
The American auto makers have been out of touch for a long time, and just operating on cruise control. I wanted a small truck made by an American company 2 years ago. Small trucks are very popular, there are alot of Toyota and nissans on the road. What does Chevy put out? The Colorado. I bought a 2001 Chevy s-10 with 40,000 miles instead, it has 115,000 on it now and it runs great. They need to restructure, get a clue, a manufacture in the USA a product people want and can afford. Seems pretty basic to me.
November 21st, 2008 at 1:57 am
anybody out there want to loan me 25 billion dollars so I can build cars no one wants to buy
November 21st, 2008 at 8:14 am
Ok. Time to start practicing…repeat after me…
“Good Morning, Comrade!”
“Comrade, I am happy to get work at 16 hours a day, as a slave, so I can help our glorious leaders and our great cause!”
“I’m so happy to be an employee of GM (Gold Mountain) Ltd.
Keep practicing.
November 21st, 2008 at 9:15 am
It’s sad when a communist country such as China can win a war of economy,
just how far has the USA fallen?
November 21st, 2008 at 9:50 am
VI Lenin said…. “they (the USA) will one day fall as a ripe fruit into our (the illuminists) hands”.
so sad
Looks like the USA is fulfilling the role just as planned!
November 24th, 2008 at 8:00 am
help with energy independence shop store and donate
http://hydroproducts.flyingcar.....p;cat_id=4
November 25th, 2008 at 11:16 pm
History always repeats. No matter how much money the big three get they have to fall and they will fall. No company can stay almighty powerful (except big oil). GM and the other automakers haven’t made great cars for almost 15 years. with the exception of a few. In order for them to be better and produce good cars they need to take a hit. If that means the chinese own more of our economy, so be it. They need to fall and break a leg, if they become crippled that only means another better company will take its place. Personally i own a toyota avalon, which is rated at 70% made in usa. More than i can say for the yukon.
As a side note Unions aren’t bad, they too have become corrupt. No assembly line worker needs to make 150k a year. Union are in place to protect the worker not promote his wants.
Those are just my 2 cents
December 1st, 2008 at 9:40 am
It’s time to change from within. Go to http://www.upgradeyounow.com and take a step for yourself, stop being a spectator and take positive action in your own life!
Upgrade You Now!
December 8th, 2008 at 3:34 am
Under the sway of the global financial crisis, the U.S. auto giants General Motors and Chrysler LLC are tottering on the brink of collapse. Japan’s Toyota Motor was previously rumored to buy them out, but now Chinese carmakers SAIC
December 11th, 2008 at 1:49 am
Hey #21, don’t you get it?! You might as well write the Easter Bunny and ask for help! The Congress is now nothing more than a rubber stamp for the president. Since the bailout got rammed thru under the threat of marshal law, we have no more congress! This is simply a dictatorship with the euphamistic name “republic”.