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	<title>Comments on: Prepackaged Bankruptcy: Be Careful of What You Wish For</title>
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	<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/</link>
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		<title>By: jdmckay</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115591</link>
		<dc:creator>jdmckay</dc:creator>
		<pubDate>Sat, 22 Nov 2008 13:52:36 +0000</pubDate>
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		<description>&lt;blockquote&gt;&lt;p&gt;You want to go that far back? &lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;I don’t have citations, only unspecific memory of reading articles over last +/- 10 years on management style, comparisons, how it translated to production line and design… all that.  There were a lot of American and American trained/educated engineers &amp; managers that made their way to Honda over the years.  &lt;/p&gt;
&lt;p&gt;Sorry, but that’s about as specific as I can get.&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;(…) Until Americans take a deep look into the mirror and recognize that their culture is a fundamental reason why the Big Three has had issues for more than 30 years, they aren’t really going to fix this mess; even your sense of competitiveness is part of that same cultural problem.&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;I don’t understand what you’re saying at all.  What do you mean by American culture is fundamental cause (…)?  Same w/”my sense of competiveness”.  Not trying to be obtuse here, I just don’t know what you’re getting at.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<blockquote><p>You want to go that far back? </p>
</blockquote>
<p>I don’t have citations, only unspecific memory of reading articles over last +/- 10 years on management style, comparisons, how it translated to production line and design… all that.  There were a lot of American and American trained/educated engineers &amp; managers that made their way to Honda over the years.  </p>
<p>Sorry, but that’s about as specific as I can get.</p>
<blockquote><p>(…) Until Americans take a deep look into the mirror and recognize that their culture is a fundamental reason why the Big Three has had issues for more than 30 years, they aren’t really going to fix this mess; even your sense of competitiveness is part of that same cultural problem.</p>
</blockquote>
<p>I don’t understand what you’re saying at all.  What do you mean by American culture is fundamental cause (…)?  Same w/”my sense of competiveness”.  Not trying to be obtuse here, I just don’t know what you’re getting at.</p>
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		<title>By: Rayne</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115569</link>
		<dc:creator>Rayne</dc:creator>
		<pubDate>Sat, 22 Nov 2008 03:57:27 +0000</pubDate>
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		<description>&lt;p&gt;You want to go that far back? Honda probably benefited from Deming.&lt;/p&gt;
&lt;p&gt;And GM was on its way to rediscovering Deming in the late 1980’s, until that lying asshole Spaniard &lt;a href=&quot;http://topics.nytimes.com/top/reference/timestopics/people/l/jose_ignacio_lopez_de_arriortua/index.html&quot; rel=&quot;nofollow&quot;&gt;Jose Ignacio Lopez de Arriortua&lt;/a&gt; turned GM and the rest of the entire industry upside down with his race to the bottom on supplier costs.&lt;/p&gt;
&lt;p&gt;That’s where Honda was better off, by staying with TQM and by answering to different cultural pressures for performance versus GM (and the rest of the Big Three) answering to American’s pressure for profits quarter-after-quarter.&lt;/p&gt;
&lt;p&gt;Not to mention where health care fits into this entire equation.&lt;/p&gt;
&lt;p&gt;It’s not as simple as “Honda is smarter and better.”  Until Americans take a deep look into the mirror and recognize that their culture is a fundamental reason why the Big Three has had issues for more than 30 years, they aren’t really going to fix this mess; even your sense of competitiveness is part of that same cultural problem.&lt;/p&gt;
&lt;p&gt;One can only hope that an economic threat this size will snap them out of their torpor.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>You want to go that far back? Honda probably benefited from Deming.</p>
<p>And GM was on its way to rediscovering Deming in the late 1980’s, until that lying asshole Spaniard <a href="http://topics.nytimes.com/top/reference/timestopics/people/l/jose_ignacio_lopez_de_arriortua/index.html" rel="nofollow">Jose Ignacio Lopez de Arriortua</a> turned GM and the rest of the entire industry upside down with his race to the bottom on supplier costs.</p>
<p>That’s where Honda was better off, by staying with TQM and by answering to different cultural pressures for performance versus GM (and the rest of the Big Three) answering to American’s pressure for profits quarter-after-quarter.</p>
<p>Not to mention where health care fits into this entire equation.</p>
<p>It’s not as simple as “Honda is smarter and better.”  Until Americans take a deep look into the mirror and recognize that their culture is a fundamental reason why the Big Three has had issues for more than 30 years, they aren’t really going to fix this mess; even your sense of competitiveness is part of that same cultural problem.</p>
<p>One can only hope that an economic threat this size will snap them out of their torpor.</p>
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		<title>By: masaccio</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115557</link>
		<dc:creator>masaccio</dc:creator>
		<pubDate>Sat, 22 Nov 2008 02:33:27 +0000</pubDate>
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		<description>&lt;p&gt;I’m inclined to agree with Mary’s analysis. The point of bankruptcy is flexibility in handling things. As Mary says, a pre-pak will require all of the major constituencies to agree in advance. That means dealers, unions and suppliers.&lt;/p&gt;
&lt;p&gt;There is no doubt that the government is going to eat a mountain of liabilities if GM fails. The retiree health benefits will fall on medicaid. The pension benefits, which will be huge, will fall on the PBGC. The losses to suppliers will mean bankruptcy for lots of them, which will fall on their banks, and eventually onto the taxpayer. Same for dealers. Their obligations include bank borrowings and floor plans. Don’t forget that these are entities that pay taxes, employ people, pay FICA taxes, keep the unemployment funds paid up and so on.&lt;/p&gt;
&lt;p&gt;This certainly justifies loans to tide us over. The pre-pak can be reinforced by properly drawn legislation.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>I’m inclined to agree with Mary’s analysis. The point of bankruptcy is flexibility in handling things. As Mary says, a pre-pak will require all of the major constituencies to agree in advance. That means dealers, unions and suppliers.</p>
<p>There is no doubt that the government is going to eat a mountain of liabilities if GM fails. The retiree health benefits will fall on medicaid. The pension benefits, which will be huge, will fall on the PBGC. The losses to suppliers will mean bankruptcy for lots of them, which will fall on their banks, and eventually onto the taxpayer. Same for dealers. Their obligations include bank borrowings and floor plans. Don’t forget that these are entities that pay taxes, employ people, pay FICA taxes, keep the unemployment funds paid up and so on.</p>
<p>This certainly justifies loans to tide us over. The pre-pak can be reinforced by properly drawn legislation.</p>
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		<title>By: jdmckay</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115540</link>
		<dc:creator>jdmckay</dc:creator>
		<pubDate>Fri, 21 Nov 2008 23:54:15 +0000</pubDate>
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		<description>&lt;p&gt;ok, thanks again for taking the time Marcy.  &lt;/p&gt;
&lt;p&gt;And just in case, I’d like to apologize if I ruffled any feathers here… sure not my intention.  I’ve been reading your writing for a while now, well back into NextHurrah days, and have a high regard for all you do… big contribution.  Same w/long time commenters here… whole lot of really smart, insightful people and I appreciate all of ‘em.  I spent a lot of time refining my reading to most useful/informative sites, and EW is great resource.   &lt;/p&gt;
&lt;p&gt;So thanks, and thanks to all.&lt;/p&gt;
&lt;p&gt;I just don’t agree w/you’all on this one.   I don’t see where any of this money’s gon’a come from, whole bunch of other things too.  But I’ve already said my piece, so thanks for opportunity to do that.&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;I notice, though, you haven’t mentioned Toyota, against which the US companies are reaching parity on most measures, except for brand.&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;I’ve never understood why Toyota had such strong sales.  Camray’s had significant FOR for years now, significantly lower service life than MAXIMA and couple other’s in it’s class.  And from what I hear, they’ve slipped lately.&lt;/p&gt;
&lt;p&gt;You don’t mention Hyundai/Kia.  Frankly I think it’s remarkable how good they’ve gotten in short amount of time.  Last year, Hyundai most dependable car on road in any class.  Not quite the amenities of Japanese, but far less expensive.  For good reliable transportation on a budget… awful lot of value there.&lt;/p&gt;
&lt;p&gt;Anyway, that’s quibbling / OT @ this point.  &lt;/p&gt;
&lt;p&gt;Cheers!&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>ok, thanks again for taking the time Marcy.  </p>
<p>And just in case, I’d like to apologize if I ruffled any feathers here… sure not my intention.  I’ve been reading your writing for a while now, well back into NextHurrah days, and have a high regard for all you do… big contribution.  Same w/long time commenters here… whole lot of really smart, insightful people and I appreciate all of ‘em.  I spent a lot of time refining my reading to most useful/informative sites, and EW is great resource.   </p>
<p>So thanks, and thanks to all.</p>
<p>I just don’t agree w/you’all on this one.   I don’t see where any of this money’s gon’a come from, whole bunch of other things too.  But I’ve already said my piece, so thanks for opportunity to do that.</p>
<blockquote><p>I notice, though, you haven’t mentioned Toyota, against which the US companies are reaching parity on most measures, except for brand.</p>
</blockquote>
<p>I’ve never understood why Toyota had such strong sales.  Camray’s had significant FOR for years now, significantly lower service life than MAXIMA and couple other’s in it’s class.  And from what I hear, they’ve slipped lately.</p>
<p>You don’t mention Hyundai/Kia.  Frankly I think it’s remarkable how good they’ve gotten in short amount of time.  Last year, Hyundai most dependable car on road in any class.  Not quite the amenities of Japanese, but far less expensive.  For good reliable transportation on a budget… awful lot of value there.</p>
<p>Anyway, that’s quibbling / OT @ this point.  </p>
<p>Cheers!</p>
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		<title>By: bmaz</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115529</link>
		<dc:creator>bmaz</dc:creator>
		<pubDate>Fri, 21 Nov 2008 23:15:15 +0000</pubDate>
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		<description>&lt;p&gt;Oh, good lord, don’t get that nonsense going….&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Oh, good lord, don’t get that nonsense going….</p>
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		<title>By: BooRadley</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115510</link>
		<dc:creator>BooRadley</dc:creator>
		<pubDate>Fri, 21 Nov 2008 21:39:06 +0000</pubDate>
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		<description>&lt;p&gt;link?&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>link?</p>
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		<title>By: bmaz</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115506</link>
		<dc:creator>bmaz</dc:creator>
		<pubDate>Fri, 21 Nov 2008 21:23:38 +0000</pubDate>
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		<description>&lt;p&gt;Agreed with dat&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Agreed with dat</p>
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		<title>By: emptywheel</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115505</link>
		<dc:creator>emptywheel</dc:creator>
		<pubDate>Fri, 21 Nov 2008 21:19:15 +0000</pubDate>
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		<description>&lt;p&gt;No. What I’m saying is that, aside from the military and related contractors, this is probably the biggest single segment in our economy, in terms of people employed as opposed to dollars made). So you make sure this segment, at least, comes to a slow landing and if you’re lucky does thing to improve while the economy sucks.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>No. What I’m saying is that, aside from the military and related contractors, this is probably the biggest single segment in our economy, in terms of people employed as opposed to dollars made). So you make sure this segment, at least, comes to a slow landing and if you’re lucky does thing to improve while the economy sucks.</p>
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		<title>By: plunger</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115503</link>
		<dc:creator>plunger</dc:creator>
		<pubDate>Fri, 21 Nov 2008 21:03:35 +0000</pubDate>
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		<description>&lt;p&gt;The only thing missing from this afternoons coverage of the Geithner announcement on CNBS is a laugh track.&lt;/p&gt;
&lt;p&gt;What a rigged “market.”&lt;/p&gt;
&lt;p&gt;I predicted they’d announce his name today at noon. I missed it by three hours.&lt;/p&gt;
&lt;p&gt;There is no “market.”&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>The only thing missing from this afternoons coverage of the Geithner announcement on CNBS is a laugh track.</p>
<p>What a rigged “market.”</p>
<p>I predicted they’d announce his name today at noon. I missed it by three hours.</p>
<p>There is no “market.”</p>
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		<title>By: bmaz</title>
		<link>http://emptywheel.firedoglake.com/2008/11/21/prepackaged-bankruptcy-be-careful-of-what-you-wish-for/#comment-115502</link>
		<dc:creator>bmaz</dc:creator>
		<pubDate>Fri, 21 Nov 2008 20:56:31 +0000</pubDate>
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		<description>&lt;p&gt;Oh, I think I misread you.  Though you were saying there would only be a 10% dropoff.  &lt;/p&gt;
&lt;p&gt;My bad.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Oh, I think I misread you.  Though you were saying there would only be a 10% dropoff.  </p>
<p>My bad.</p>
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