Mopar Muscle Association UK

"GM has warned it could run out of cash in a matter of weeks "

http://news.bbc.co.uk/1/hi/business/7736301.stm

I think I may apply to the government for £25 bn to keep my business going...sounds like a plan.

So the poor old tax payer, wherever in the world he or she may be it seems is bankrolling business that would otherwise be left to collapse.

I bet like the banks, the executives don't lose out on their fat salaries and bonuses...and no, I'm not a loony leftie, I'm a small business owner with staff to pay and I've gone without paying myself to make sure my team get paid...bet they don't do that at the car makers and the banks, grrr!

Sorry, rant over.

DAmn right Ivor!

The Coporate gun to the political head.

Pay us $27bn or millions get sacked.


Personally, I wouldnt give them a red cent. Or the bancks for that matter. We need a global financial meltdown. Maybe then, people might realise you should only spend your own money - not someone elses. Just because you are eligible for credit, doesnt mean you can afford the product.

Apparently, golbally there are 5 cars being built for every 4 people. Stuff em. Drive the second hand car market harder and stop people thinking they have a right to a new car every year (or 3) when they have not. Its unsustainable and now THEY know it.

Rick Wagoner (GM) and Bob Nardelli (Chrysler) have both indicated that they will take a pay cut down to $1. Ford will still be having a family row when the boat sinks.

Ivor wrote:I think I may apply to the government for £25 bn to keep my business going...sounds like a plan.

So the poor old tax payer, wherever in the world he or she may be it seems is bankrolling business that would otherwise be left to collapse.

I bet like the banks, the executives don't lose out on their fat salaries and bonuses...and no, I'm not a loony leftie, I'm a small business owner with staff to pay and I've gone without paying myself to make sure my team get paid...bet they don't do that at the car makers and the banks, grrr!

Sorry, rant over.

Blimey Ivor i hope thing improve for you fast,your staff are lucky to have a good Boss

It's okay Tony, that was the case in the last crash, things are very tight at the moment, but I'm managing to pay myself a shilling or two!

Thank goodness for that Ivor , I can sleep now

Clivey wrote:The Coporate gun to the political head.

Pay us $27bn or millions get sacked.

well that`s about the size of it, where as with Ivor or the likes business, a few blokes go down the pan, i think its a case of so what??? nobody will give a toss ( except Ivor and his Men ) lets face it they are just small fish in a very big pond, so no big deal hardly gonna make the papers is it !!!!

Yeah psssss me off too !!!

Banks and these big businesses make me sick. It seems that when you reach a certain size or perform a essential function then you have national protection from ever going bust.

Take BT - It would never be allowed to go bust, they provide too much back bone and infrastructure for the UK population full stop. No BT = No phones, no internet, no emergency services, no businesses transactions, no banking etc etc etc. The government just couldn't let a company like that go bust, it simply can't.

So we bail them out...however

Take my little business, just in my first year of trading and I got hit by another van, puts my business off the road for about 6 weeks. In the mean time the competition move in and pinch my customers. I talk to the bank to extend overdraft while I try something else, LLOYDS DON'T WANT TO KNOW !!!!

The accident is subject to an insurance claim but won't be paid out until I can prove my turnover once accts are submitted to companies house. In mean time costs are still going out of the business I had to get a job and the bank didn't want to help me one jot.

As soon as I can get out of my Lloyds accounts I will. They take billions of our tax pounds cos they need help but wouldn't help me out with just a few grand.

On the plus side I don't have to get up at 5am every day now, I have a job, a roof over my head, my health and two kids who think I'm great.
I'm not wingeing but don't like the way they take the money but don't help others.

we had the same with the mortgage. wave stuff under ya nose and then withdraw it or apply new but completely unreasonable sanctions

current goes off fixed term and it would be very hard to continue with out seroius detriment to my pop star lifestyle

nationwide says here is a deal....burns my pocket an extra 100 a month...beter than 600 by a long chalk

yup we'll take it
no its been withdrawn (in 12 hours)

ok

we'll take this instead

ok but you have a rental property yup....thats how we afford our current home you wouldn't give me a mortgage last time if i sold it. you told me i needed to show cash flow this allows me to do that.

you have to show 150% of the monthly mortgage payemnt on it coming in as rent otherwise the whole lot is regarded as a liability against your financial position and you will be refused.

so they ignore the rent coming in as cash flow in to my account

which means i show (on their calculation) the mortgage payment on the flat + 50% each month as an outgoing payment from my current account. i.e that wipes out my wages

thanks you bankers

needles to say big Gordon popped up and said pass on the interest rate cut now!

current company did which makes my payment go up £120 which is better than 600 by a long chalk

so we told nationwide to Bananarama! off

i'm not having a mortgage refusal against my credit rating

I'd rather live on nuts berries and hairy string.

how dare they

for every £1 ive borrowed they are going to get £2 in return if we allow the thing to run its 25 years.......

if i pay in extra to reduce that they hit me with a £6000 early redemption
if i rearrange the mortgage they hit me with that and the new company wants an arrangement fee that used to be about a grand its now anything from a grand to 10 grand.

so screw em nationwide are nasty

Cheltnam and Gloucester rule ok

Dave

Eerr, when has BT ever asked to be bailed out; am I missing something here in the big world of generalisation???

I think Justin was talking hypothetically Pete...leastwise I hope he was!

BT is a British Institution, and as an out patient, you should know!

Just protecting the Brand, Ivor.

Many people have remarked that I belong in an institution...

Yeah sorry Pete

Just used them as an example of a company so important to the UK that the government would bail them out if they needed it.

Just hypothetically speaking

Another example would be the train networks, private but essential, the list could go on.

J