U.S. Auto Manufacturers Are They Ready To Declare Bankruptcy?

U.S. auto manufacturers are facing more pressure from import manufacturers every year. They have already been feeling the heat from Nissan, Toyota and Honda, but now with Hyundai taking a larger chunk of the middle and lower range cars, SUV’s and trucks this may be the start of the end of the likes of Ford and G.M.

Ford has already announced a restructuring and a projected cut of 30,000+ jobs. G.M. has recently retired an old name brand Oldsmobile and is posting losses on a regular basis. Delphi Corp., the largest auto parts supplier for U.S. manufacturers has already declared bankruptcy which makes buyers leary of future parts availability. Most of the other parts suppliers are very close to or are currently declaring bankruptcy.

In the 80′s when Chrysler was having severe finacial woes the government stepped in with million dollar loans and other aid. The government is currently reeling from Katrina, New Orleans, and the war in Iraq. It can’t afford to bail out Ford or G.M. The public opinion is against a government bailout as the economy is not its best. George Bush has too many other problems to deal with like high gas prices, natural gas, Iraq, etc…

So, without a government bailout and no proposed new laws to halt the outsourcing and outflowing of jobs and such to overseas giants like China and Japan, it is only a matter of time before Ford and G.M. go bankrupt. Toyota and Honda have been gunning for the number 1 spot and now that they have it are not going to give it up. The only hope left is with the trucks. Both Ford and G.M. have a bustling truck business and it is their only profitable business. The imports have tried to break into this market and after quite a few years they have not had much success. The majority of trucks are bought by die hard Ford or Chevy people. But, that may also change. Toyota has found that the key may be in Nascar. This could and will lead to other imports getting involved and taking the American out of Nascar. That would eventually happen as they have more money and lower costs.

Basically, with the laws the way they are right now, the U.S. auto manufacturers do not stand a chance. So the question is do we restrain trade with countries like China and Japan, possibly hurt foreign relations, Make it more expensive to buy better built and higher quality imports, etc… Or let democracy, free trade, and a capitalist society have its way giving Americans the best, safest vehicles, for the lowest price? Regardless of how we make our laws, Walmarts or their equivalents will always prevail – the basic premise of Walmart’s founder Sam Walton was to sell the best products to consumers at the lowest price possible. Look at what he did. In a period of 40 years he went from one store to being the largest retailer in the world. Walmart has plans for 2500 stores in China. Maybe the U.S. auto manufacturers could learn something here. Take the imports on at their own game, stop paying multi-million dollar compensation packages to executives that aren’t fixing the company. Maybe they need to pay more attention to what brings the best results in advertising at the least expense. Why is it that some companies must spend millions on advertising and others in the same niche get more results for much less?

Ford and G.M. need to rethink and come out with an attack plan. Go after the imports at their own level. Maybe make a marketing ploy of America and what we may lose. The kids of today aren’t growing up dreaming of Shelby Mustangs and Corvettes. They are driving Honda and Toyotas that they fix up like in the Movie The Fast and the Furious. Maybe its too late.

David Maillie is a chemist, an alumni of Cornell University and holds numerous patents including his recently awarded patent for headlight repair, cleaner and restorer. He can be reached at M.D. Wholesale: http://www.mdwholesale.com

What To Do If You Have To Declare Bankruptcy In Massachusetts

You own a small business in Massachusetts. However, the winter weather has not been kind, and your business was damaged in a recent snowstorm. Unfortunately, the insurance that you took out for your business is not nearly enough to cover the costs, and so you have to declare bankruptcy for your Massachusetts business.

About Bankruptcy in Massachusetts

The first thing you need to consider before you declare bankruptcy in Massachusetts for your business is whether or not you have a business that was popular to being with. For example, if you had a small business that only has several clients, you might have to prove to the necessary people why you need financial aid to get out of bankruptcy.

When you do this, it actually can mean a new start for you in terms of revitalizing your business. Take some time to think about what it was about your business that might not have been attracting many customers and thus became part of why you had to declare bankruptcy in Massachusetts. Was there something about the business space that you could have changed? All of these are ideas that you should take into consideration and implement if you get financial help for your Massachusetts bankruptcy.

Another thing that you should consider when you are declaring Massachusetts bankruptcy for your small business is the location of your business and how it affected how many clients you had. For example, if you had a business in a remote part of Massachusetts, that might have affected how many clients you had simply because of the location. If your small business was located in the middle of a city, then perhaps there was something else about how your business was being marketed that did not attract customers.

Of course, the weather issue needs to be addressed as well. First there is the issue of why you did not take enough insurance out to cover the costs of weather damage. If this was a standard snowstorm, you will have to be able to provide a reason for why you did not properly prepare for such an occurrence. If this snowstorm was closer to a blizzard, you will have an easier time getting financial assistance for your bankruptcy. Search the internet for more information, and you are sure to find a way to revitalize your business.

Simon Peters is the owner of On Bankruptcy, it is THE best source for advice on the subject of bankruptcy, nothing to sell, just information . . .

What To Do If You Have To Declare Bankruptcy In Ohio

You have a house that is rather large, and while you once had the money to pay the mortgage, you now have to declare bankruptcy for that home in Ohio. There are many reasons why you had to declare bankruptcy, but the most prevalent one is because you lost your high-paying job. However, you will find that declaring bankruptcy in Ohio is not an especially difficult process.

About Bankruptcy in Ohio

When it comes to declaring bankruptcy in Ohio, it should be noted that there are several things you should check first in order to truly be considered bankrupt. First of all, there is the matter of how long it has been since you have actually been able to pay your bills. If it is a matter of note being able to pay them for a month, then that is not yet considered bankruptcy.

If you plan on declaring bankruptcy in Ohio, that means that you are unable to pay any of the bills that you have. Some people are able to pay some bills but not others, and this does not make them able to declare bankruptcy. True bankruptcy means that you are unable to pay any of your bills, and that your current income is either nothing or below the poverty level.

So, if you are declaring bankruptcy in Ohio, the first thing that you need to think about is what you can sell in order to repay some of your debt. Some people decided to sell some of their belongings to pawn shops, but you do not necessarily have to do this. First of all, if you still have a considerable amount of money left to pay on your mortgage the bank will repossess your house. This might lessen some of the debt, depending on your financial situation.

Next, the bank might repossess your car too. It really all has to do with how long it has been since you paid your car insurance and other car bills. It also has to do with how valuable you car currently is. For example, a used car in good condition would still be less favorable than a new car in good condition.

Lastly, something that is necessary for you to consider when it comes to bankruptcy is how you lost your job in the first place. While you can find help for getting out of bankruptcy, if you left your previous job on bad terms that might hurt your cause. For more information, search the internet. With the proper research, you are sure to be able to find a way to get a new job, thus eliminating your bankruptcy.

Simon Peters is the owner of On Bankruptcy, it is THE best source for advice on the subject on bankruptcy, nothing to sell, just information . . .

Do you need to declare Bankruptcy due to Medical Bills?

While Congress busily tries to hammer out some kind of health care reform, their efforts will be too little, too late for many Americans. Some of the most appalling news to come out of all the health reform talk is the way medical bills can break a family financially. Relatively recently, in 1981, only eight percent of bankruptcies came about as a direct result of medical bills. By 2001, more than half of the country

Six Reasons You Should Declare Bankruptcy

Over the years, many people considered bankruptcy a very bad thing. A few years ago, if you declared bankruptcy, you would be considered a dead beat. Today, that is no longer the case. For sure, this economic depression will make many Americans casualties of their finances. Even long time celebrity and actor Steven Baldwin (Movie Star of the Usual Suspect and brother of Alec Baldwin