Auto industry Impact - due to shut down

[dubshow]

A bond has to be paid back... so unless the company fails I don't see an issue.

laughsinbailout

[goIftdibrad]

A bond has to be paid back... so unless the company fails I don't see an issue.

Its inflating the money supply. Its the feds having an ownershit stake in private companies.

anyway, trump gave me 2 house payments so there is that.

[max225]

A bond has to be paid back... so unless the company fails I don't see an issue.

Its inflating the money supply. Its the feds having an ownershit stake in private companies.

anyway, trump gave me 2 house payments so there is that.

You already got the DD?

[goIftdibrad]

Its inflating the money supply. Its the feds having an ownershit stake in private companies.

anyway, trump gave me 2 house payments so there is that.

You already got the DD?

i did, it appears to have hit right before lunch

[max225]

You already got the DD?

i did, it appears to have hit right before lunch

They promised by wed.

[D Griff]

No sign of ours yet.

[wap]

No sign of ours yet.

Same. Will check again on the morrow.

[dubshow]

I have not received my Trump Bux (TM) yet either.

[coogles]

https://www.marketwatch.com/story/ford- ... =home-page

[ChrisoftheNorth]

https://www.marketwatch.com/story/ford- ... =home-page

Not producing vehicles means $0 in cash inflow. Keeping a ton of people still on payroll and supporting remote business operations means a lot of cash still going out. All car companies are going to post some pretty significant losses this quarter.

[4zilch]

https://www.marketwatch.com/story/ford- ... =home-page

Not producing vehicles means $0 in cash inflow. Keeping a ton of people still on payroll and supporting remote business operations means a lot of cash still going out. All car companies are going to post some pretty significant losses this quarter.

all of our S. Indiana plants are closed currently. Including the plant that makes the engines for the Rams. As a result, 20% paycut throughout the company for at least the next 3 months. Probably 6. And probably layoffs between now and the end of the year.

[ChrisoftheNorth]

Not producing vehicles means $0 in cash inflow. Keeping a ton of people still on payroll and supporting remote business operations means a lot of cash still going out. All car companies are going to post some pretty significant losses this quarter.

all of our S. Indiana plants are closed currently. Including the plant that makes the engines for the Rams. As a result, 20% paycut throughout the company for at least the next 3 months. Probably 6. And probably layoffs between now and the end of the year.

Our company claims 20% pay deferment (which will just end up replacing our bonuses next year) will result in no need for layoffs. We'll see. They did can 2k contract workers

[4zilch]

all of our S. Indiana plants are closed currently. Including the plant that makes the engines for the Rams. As a result, 20% paycut throughout the company for at least the next 3 months. Probably 6. And probably layoffs between now and the end of the year.

Our company claims 20% pay deferment (which will just end up replacing our bonuses next year) will result in no need for layoffs. We'll see. They did can 2k contract workers

We don't get a deferment and they've postponed merit increases until Jan 1 (normally get those in July). But as part of the pay reduction, they let us take 1 day off a week, so there's that. They haven't said anything about layoffs yet, and it'll ultimately depend on how long this lasts and how quickly it comes back.

[ChrisoftheNorth]

Our company claims 20% pay deferment (which will just end up replacing our bonuses next year) will result in no need for layoffs. We'll see. They did can 2k contract workers

We don't get a deferment and they've postponed merit increases until Jan 1 (normally get those in July). But as part of the pay reduction, they let us take 1 day off a week, so there's that. They haven't said anything about layoffs yet, and it'll ultimately depend on how long this lasts and how quickly it comes back.

This is great, I was not offered this in promise of getting my money back later. FCA also DOES NOT do merit increases.

[D Griff]

of that day off/week thing. We are just working for less now. Can't say I'm really giving it 100% though.

But it is beautiful out, I would love to be outside working on detailing my car rather than making a bunch of calls. At least I've sold some things today in the positive side of things.

[4zilch]

I mean it’s the equivalent of a 1day/week furlough. Personally I’d rather just take two weeks unpaid vacation but it’s not really something that’s feasible from an organizational perspective.

I did elect to take Monday’s off, and with the majority of people taking fridays off means that I can pretty much fuck off on Fridays too. Truthfully right now there’s just not enough work to keep me busy, which sounds nice, but is honestly more alarming than anything.

[ChrisoftheNorth]

I mean it’s the equivalent of a 1day/week furlough. Personally I’d rather just take two weeks unpaid vacation but it’s not really something that’s feasible from an organizational perspective.

I did elect to take Monday’s off, and with the majority of people taking fridays off means that I can pretty much fuck off on Fridays too. Truthfully right now there’s just not enough work to keep me busy, which sounds nice, but is honestly more alarming than anything.

I'm busier than I ever have been. Working in future programs, we're in full blown mode for cost savings and volume recovery. I'm glad to have a job, but this really isn't the job I want to be doing.

[4zilch]

I mean it’s the equivalent of a 1day/week furlough. Personally I’d rather just take two weeks unpaid vacation but it’s not really something that’s feasible from an organizational perspective.

I did elect to take Monday’s off, and with the majority of people taking fridays off means that I can pretty much fuck off on Fridays too. Truthfully right now there’s just not enough work to keep me busy, which sounds nice, but is honestly more alarming than anything.

I'm busier than I ever have been. Working in future programs, we're in full blown mode for cost savings and volume recovery. I'm glad to have a job, but this really isn't the job I want to be doing.

Yeah I know a lot of our people are trying to shore up supply chains as well as a lot of work going on to prioritize engineering work.

Part of what I do is a sales support function recommending engines for applications, gearing, etc. And nobody is buying anything so

[goIftdibrad]

Not producing vehicles means $0 in cash inflow. Keeping a ton of people still on payroll and supporting remote business operations means a lot of cash still going out. All car companies are going to post some pretty significant losses this quarter.

all of our S. Indiana plants are closed currently. Including the plant that makes the engines for the Rams. As a result, 20% paycut throughout the company for at least the next 3 months. Probably 6. And probably layoffs between now and the end of the year.

dang that sucks man, hope things turn around for you

[Apex]

I mean it’s the equivalent of a 1day/week furlough. Personally I’d rather just take two weeks unpaid vacation but it’s not really something that’s feasible from an organizational perspective.

I did elect to take Monday’s off, and with the majority of people taking fridays off means that I can pretty much fuck off on Fridays too. Truthfully right now there’s just not enough work to keep me busy, which sounds nice, but is honestly more alarming than anything.

I'm busier than I ever have been. Working in future programs, we're in full blown mode for cost savings and volume recovery. I'm glad to have a job, but this really isn't the job I want to be doing.

I’ve never been this busy... regular 80-100 hour weeks for the past 6 weeks.
I’d make way more at Whole Foods with these hours.

[ChrisoftheNorth]

I'm busier than I ever have been. Working in future programs, we're in full blown mode for cost savings and volume recovery. I'm glad to have a job, but this really isn't the job I want to be doing.

I’ve never been this busy... regular 80-100 hour weeks for the past 6 weeks.
I’d make way more at Whole Foods with these hours.

Is it virus related crap?

[Apex]

I’ve never been this busy... regular 80-100 hour weeks for the past 6 weeks.
I’d make way more at Whole Foods with these hours.

Is it virus related crap?

Sorta, basically everyone on my team has switched to PPP (payroll protection program) support except me. And we just acquired a bank and had to convert all their clients, manually. Guess who got to do that? Yeah...
I would have been busy AF with or without the virus, but the additional stuff from the virus isn’t making it easier lol.

[D Griff]

I'm busier than I ever have been. Working in future programs, we're in full blown mode for cost savings and volume recovery. I'm glad to have a job, but this really isn't the job I want to be doing.

Yeah I know a lot of our people are trying to shore up supply chains as well as a lot of work going on to prioritize engineering work.

Part of what I do is a sales support function recommending engines for applications, gearing, etc. And nobody is buying anything so

I am legitimately when I get to help someone with an AV system design/product recommendations these days, as it's so rare now. I even designed a residential project for one of my dealer's personal houses (home theater + streaming whole house audio). Normally I hate resi and don't fuck with those sorts of projects.

[max225]

https://finance.yahoo.com/quote/kmx?ltr=1

Carmax stock is down to 65 from mid 90s at the onset...
Ford got slashed in 1/2, why the FK is a used car dealer doing better than a manufacturer, they are equally doomed if anything. Gm is almost down 50% as well...

[ChrisoftheNorth]

https://finance.yahoo.com/quote/kmx?ltr=1

Carmax stock is down to 65 from mid 90s at the onset...
Ford got slashed in 1/2, why the FK is a used car dealer doing better than a manufacturer, they are equally doomed if anything. Gm is almost down 50% as well...

Used cars might have more upside being more affordable? There's probably also doubt of the long-term viability of the OEMs depending on how long production is down. No production means no cash inflow in a capital intensive business, that's sketch.

Used cars will always be there to sell, and Carmax has a solid brand, reputation, and footprint. I know nothing about their financial position, but if sound I imagine it's a better investment than Fraud.