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Sunday, November 16, 2008

Where Are They Now?

As of 2008, Chrysler has been in business 83 years. General Motors? 100 years. And The Ford Motor Company, 105 years.

288 combined years of producing American iron for American highways.

After the controversial Bank Bailout of 2008, today there is talk about bailing out The Big Three, America's current big name automobile manufacturers, Ford, GM, and Chrysler. Two hundred eighty-eight years of service to the public is a lot to throw away if we don't, isn't it?

But before you break out the crying towel, take a look at some statistics.

A Little Automaking History

What do the following companies have in common - Rambler (1958-1969), LaSalle (1927-1940) and Rolls Royce (1921-1935)? They are American automobile manufacturers having been in business 10-15 years that are now defunct.

American Motors (aka AMC) (1966-1987) and Duesenberg (1913-1937) - gone after 20-25 years in business.

Stanley Steamer (1897-1927), DeSoto (1928-1961), Pierce-Arrow (1900-1938), Nash (1917-1957), Willys-Overland (1912-1953) and Hudson (1909-1957) - no sign of them after 30-50 years of automobile manufacture.

Packard (1899-1958), Studebaker (1902-1966), Checker (1922-1982) and International Harvester (1907-1975) never to make autos for the US again, after 50-70 years of doing so.

And finally, REO (1905-1975) and White (1902-1981) have put in 70-80 years of auto making - defunct.

Where Are They Today?

Are you familiar with any of those auto companies? Well, they're all gone. In fact, according to wikipedia article "List of defunct United States automobile manufacturers," over 1800 US auto makers are no longer in business, with more than a thousand having seven years or less in the auto industry.

The Big Three are not the first US automakers to face financial failure, and they won't be the last.

Maybe some of the 1800 automakers might still be here if the Gov't had "bailed them out?"


Anonymous Phantasmix said...

Big 3 became too big to fail.

I bet you $99.99 they'll be rescued.

Monday, November 17, 2008 11:33:00 AM  
Blogger The Sarcasticynic said...

Can't take that bet, P - even though gas has dropped below $2.

Monday, November 17, 2008 5:11:00 PM  
Anonymous phantasmix said...

Now watch for some entertaining hand-wringing and "no pass" votes :)

God, so many crooks out there.

Do you still invest for the long-term? How can you trust anyone after events of the past decade or two? Accounting scandal after scandal, and soooo much paper.

This is all bogus, I say :)

Wednesday, November 19, 2008 8:33:00 AM  
Blogger The Sarcasticynic said...

I ONLY invest for the long term. As to your second question - what other options have I got??

Wednesday, November 19, 2008 12:59:00 PM  
Anonymous phantasmix said...

That's a fair question...

Well, maybe cut down your long-term horizon from 10-15 years to 3-5 max, and try to time buys, and sell after a certain percentage gain. If you don't lock in the profit, what's the point? 10 years of gains - poof. It's not even a unique situation. Unique to this generation, yes, but overall - not so unique.

I know timing the market and selling are not the definition of investing....

You stumped me.

Don't even know what to do long term for ourselves. Probably that's exactly what we'll try to do - time and sell after a decent profit, and not hang onto the stocks for dear life, because "that's what the books say".

Thursday, November 20, 2008 2:31:00 AM  
Anonymous Sofia said...

Thank Nice Post
Goood Blog :D

Tuesday, October 27, 2009 6:35:00 AM  

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