Funny, this reminds me of my Dad. He wouldn't buy a car with power windows or air conditioning for just this reason.
While I agree some of these conveniences needlessly complicate things, some of them are pretty nice. I love the seat warmers on my Cadillac - in Detroit they're useful about ten months out of the year. The one that really surprised me was the rain sensing wipers. Really couldn't imagine that being too useful, but the system works really well. I actually get annoyed driving my wife's Lexus with having to adjust the interval of the intermittent wipers in light rain.
So, BofA Merrill downgrades Ford stock because they don't see a catalyst to move the stock higher. This, a day after the stock moves more than 3% higher on the catalyst of exceptionally good earnings news. Now, I could understand if this was expected to be the end of this kind of profitability, but in the same report they expect overall sales to meet expectations of 18 million units this year peaking at 20 million in 2018.
If profits are good and the next two and a half years are only going to get better, why the downgrade?
"Here's one. This is from Bob Lutz..."
Excellent post, Questy!
I suspect this kind of thing could only happen in a homogeneous culture like Germany or Japan. Can you imagine this kind of large scale deception being pulled off at Ford or GM without someone blowing the whistle?
"...investigators are finding problems with Fiat, Peugeot, Mercedes and Mitsubishis."
Let's see here - the issue is, and has been, whether other companies besides VW, have installed emissions test defeat software into their vehicles.
GM? No (just thought I'd throw that in for you)
If I didn't know better, I'd think you were deliberately trying to confuse the issue. Are you?
Here's an article from Tech Times last October that sums it up pretty well: "Report Claims Other Car Makers Are Cheating Emissions Tests, But Are They Really?"
I suggest you read the NY Times article titled "Explaining Volkswagen’s Emissions Scandal." This was just updated a few days ago. In it, you'll notice that there is no hint of any other company employing such an emissions cheat.
"Do you know they haven't?"
No, I don't. Nor do I know if aliens built the pyramids. It is incumbent on the believers of such nonsense to provide the evidence. You got any?
VW has reserved 18.3 BILLION dollars to cover the costs of the emissions scandal! The hit on their reputation is incalculable. Where's the benefit of your "safety in numbers" theory?The only place to date where the impact of all this is diffused by the alleged involvement of other companies is in YOUR mind!
Proof, man! If you're going to make these wild accusations stick you'll need much better proof than just your out of control imagination.
Chebby still disagrees. Your theory makes zero sense. If they had used your strategy, why haven't they deployed it? Why hasn't VW ratted out all these other cheating companies? What are they waiting for?
Your argument was, and still is, silly.
"And so now the one idiot quotes the same other idiots again.
Right back to the same well for another tall cool glass of stupid."
You're sounding more than a bit like an offended religious zealot. Are you a Scientologist by any chance?
"You take the word of idiots and you believe it."
This, folks, is the very definition of an ad hominem attack. Yes, the authors of the article screwed up the math. What about the substance of the article? Does Tesla spend more than double per vehicle on warranty repairs than GM and Ford? Is so, isn't that a problem? Doesn't that raise legitimate questions about the company? Haven't you opined that the Model S is the perfect car?
"Uh, that is a quantity that doesn't matter. The fact that it used to be a godawfully worse number does not take away from the awful number it is now."
You still refuse to understand. GM is in the process of converting the subprime lender that was AmeriCredit into a standard company owned lender like GMAC was - GM Financial. The reduction in subprime loans is proof of the progress being made.
"((((Overall, GM has no more subprime buyers on a percentage basis than anybody else.))))
ANS: And that makes you feel better, somehow?"
It sure does. I'm sure you know that subprime buyers pay a higher interest rate that more than compensates for the higher default rate. The risk is that of a general meltdown that increases the default rate beyond the range covered by the higher rates. This is why all the car companies' including GM, limit their exposure to subprime loans.
Again, GM's total vehicle sales to subprime customers is in line with their competitors.
If just the fact of you buying GM stock after all these years isn't enough to convince folks to sell, this "song" ought to do it!
My argument with Adrian has been that GM sells no higher percentage of vehicles to subprime customers than any of their competitors. He looks at GM Financial subprime data and thinks that it represents all GM sales. I read somewhere that, at the time of GM's purchase, AmeriCredit's loan portfolio was almost exclusively subprime. Now, it's 57%.
Until fairly recently, prime GM buyers got their financing outside of GM.
After only eleven years of careful research, Webby/Clown/Mullah/RDH/Adrian has actually purchased some GM stock!
Does this mark the beginning of the end of times? I don't know, but I can't imagine a clearer sell signal!
Sentiment: Strong Sell
"Customer health still poor, with 57% of N/A retail finance receivables due from subprime customers"
I think this should be listed as a "PRO." My understanding is that this percentage was well over 80% when GM bought the subprime lender AmeriCredit and renamed it GM Financial.
Overall, GM has no more subprime buyers on a percentage basis than anybody else. Maybe Wngr could convince you.
"Was no opinion friend. Stated clearly. The aforementioned trade deals are a failure, 100%."
My goodness, you are insufferably smug.
Your statements above sum it up nicely. You immediately follow your "no opinion" statement with a completely unsupported opinion. You want to be taken seriously? Present some solid evidence that "the aforementioned trade deals are a failure, 100%."
You haven't even come close to establishing the kind of credibility needed for even the dimmest bulb to accept your silly assertions unchallenged.
"What is it she is doing that you would do differently."
Clearly, he would spend much more time carefully examining snake genitalia.
Why, look who's back! My ol' buddy PM! Can't really say you've been missed, but I have noticed you've been gone.
I'm glad I've impressed you in some way. You've impressed me too - as a blithering idiot barely capable of forming a coherent thought and even less capable of expressing it. Nice to see some things never change. Nevertheless, I hope you stick around, I appreciate the entertainment. Most of the other idiots I have on ignore, but you're a special case.