Porsche On Verge of Bankruptcy

[ByLoSellHi]

This downturn is so severe, no one is untouched. The best run companies in the world, Toyota and Honda included, are seeing unit production cuts of 35% to 47%, which is unbelievable.

Honda's new grand plan is to 'hybrid-ize' everything they make, which even the CEO admits, will be a money-losing proposition (see TTAC) for that article.

I will make a prediction: Fewer cars will be sold 5 years from now than in 2006. That's crazy talk, right?

http://www.thetruthaboutcars.com/porsche-barely-scraped-by-bankruptcy-situation-“critical”/

 

[ARealGannTrader]

My time projection indicates this downturn will be out of time at about
August 2015

So no, there will be some reengineering of our financial system.
Porche, and some of the other luxury makers may have to take Lamborghini's model and build cars to order.

The crazy talk comes in when there is talk of the end of the world. Add..as we know it, to the end of the world, and I am on board.

But this has happened before.

And it will happen again.

But u r in real estate. Soon people will be dropping properties at any price. I do hope ur not leveraged, my friend.

 

[ByLoSellHi]

Quote from ARealGannTrader:

My time projection indicates this downturn will be out of time at about
August 2015

So no, there will be some reengineering of our financial system.
Porche, and some of the other luxury makers may have to take Lamborghini's model and build cars to order.

The crazy talk comes in when there is talk of the end of the world. Add..as we know it, to the end of the world, and I am on board.

But this has happened before.

And it will happen again.

But u r in real estate. Soon people will be dropping properties at any price. I do hope ur not leveraged, my friend.

I don't owe a single dollar to any bank, company or individual.

And that, as you point out, coupled with my liquidity, makes me truly independent and free.

I personally know people (in fact, I'm friends with several of them, and just bought distressed real estate from one of them - he figured screw the banks, as it was unencumbered, but the banks would be gunning for it as they proceeded to lien all of his assets ultimately) that were worth 25 million+ on paper (one was worth at least 230 million+, owned over 700 gasoline stations, and a coffee plantation, plus thousands of acres of land down south), who were leveraged, and are all officially or de facto bankrupt now - I've seen them go from peak to trough with my own eyes in a matter of five years, tops.

You are a wise man.

 

[ARealGannTrader]

Quote from ByLoSellHi:

I don't owe a single dollar to any bank, company or individual.

And that, as you point out, coupled with my liquidity, makes me truly independent and free.

I personally know people (in fact, I'm friends with several of them, and just bought distressed real estate from one of them - he figured screw the banks, as it was unencumbered, but the banks would be gunning for it as they proceeded to lien all of his assets ultimately) that were worth 25 million+ on paper (one was worth at least 230 million+, owned over 700 gasoline stations, and a coffee plantation, plus thousands of acres of land down south), who were leveraged, and are all officially or de facto bankrupt now - I've seen them go from peak to trough with my own eyes in a matter of five years, tops.

You are a wise man.

AHH, so that it. U post this material for altruism. I get that, but it will be hard to convince the average person that we r gonna feel some pain this time.

I wish I could call myself wise.

Fact is, I'm just old enough to have seen a complete business cycle and know what Im looking at.

 

[noob_trad3r]

When I was a teenager I do not remember so many people driving new cars all the time or so many mercedes automobiles etc..

back then you saw someone driving a mercedes and it was would draw attention like that guy had to be a doctor or something.

maybe we are just going back to the way things were before.

 

[S2007S]

Quote from noob_trad3r:

When I was a teenager I do not remember so many people driving new cars all the time or so many mercedes automobiles etc..

back then you saw someone driving a mercedes and it was would draw attention like that guy had to be a doctor or something.

maybe we are just going back to the way things were before.

Today you see plenty of teens driving $40k+ cars, all you need is some ok credit an okay job and a simple signature and if you lose your job it doesn't matter, they take over those payments.

 

[ByLoSellHi]

This story really rings true.

Either Merkel bails Porsche out, or they probably file for BK soon.

I did a search on cars.com, and it's amazing how many Porsches are for sale, given how few are made and sold each year.

 

[the1]

Now there lies the truth. To see a BMW or Benz rolling down the road is just another day. To boot, every mo-fo owns a Lexus RX, like they are just giving them away. People lease them for what my parents used to call their mortgage.

Quote from noob_trad3r:

When I was a teenager I do not remember so many people driving new cars all the time or so many mercedes automobiles etc..

back then you saw someone driving a mercedes and it was would draw attention like that guy had to be a doctor or something.

maybe we are just going back to the way things were before.

 

[fkbsuhites]

Quote from S2007S:

Today you see plenty of teens driving $40k+ cars, all you need is some ok credit an okay job and a simple signature and if you lose your job it doesn't matter, they take over those payments.

Most of these cars are bought by dumb parents trying to one up the neighbor.

The feeling of deep entitlement is a nasty disease that begins early.

Schools teach too much self-esteem garbage and not enough sciences.

A functional retard is told he is good enough to be a doctor. Just take more self-esteem classes.

The problem is compounded by silly parenting at home. Every young ugly girl is brain washed to think she's a "princess". She then grows up with delusional ideas of how the world should treat her when she enters real life. Hence the sky high divorce rates. No one is good enough for "princess".

This feeling of self-entitlement begins very young and is why things will get worse before they get better.

And that is why the scam industry is doing better than most. Everyone thinks they too are entitled to the good life but will not work for it. Web 2.0 scammers to multi-level marketing scams to ponzi schemes. Resorting to marketing scams hood winking others like them is what Bush was crowing about. Welcome to Bush's new economy.