Arrogance Or Just The Truth? Porsche Slams The Industry As Being Irresponsible

If they can, then they should... if they can brag about it, then they really should. obviously, management is doing something right!!!

Wow! thats a great come back!!!!!

"now if they could only build cars that werent slow"
They do.
We're talking about Porsche here not the other manufacturers.

Conservative with cash or credit? Your argument holds true with cash...it's with credit is what got us in all of this mess in the first place... in other words just spend you paycheck and shred your credit cards.

I'm very conservative with my cash and my credit is in excellent shape. no debt or nothing like that; not even close.

porsche is just speaking the truth

"I still don't get why people don't realize, them trying to be conservative with their money is what is destroying our economy."

Wow, you could not get much further from the truth with that statement.

When you can't get a loan and your investsments go into the crapper it's real hard to want to spend a lot of money. Bottom line banks are just going to have to
start easing up on credit and start lending and lending NOW! That's what's destroying our economy!

try telling that to the banks...

Its like telling a guy who got a car stolen to start easing up and leave his car unlocked, because the neighborhood has cleaned up.

The environment is still lacking trust.

Either case, Porsche is just smart with their money. If everyone was this smart with their money, no one would be in a crisis, and the economy would not be in a crisis.

OK the banks lent billions to people who could not afford to repay their loans, the government is going to take $700 billion of our money to try and fix the problem, which they won't. AND the banks should lend more money like crazy ????? Yeah right. You should go and live in a mud hut now, because that is where we will all end up with ideas like that.

"Bottom line banks are just going to have to
start easing up on credit and start lending and lending NOW"
Instead of always borrowing more than you can or should how about you start living within your means.
This is the problem with the US, it's always about getting and getting and getting. Stop trying to live as if you make a 6 digit salary and live as someone who makes 50K.

Perhaps then Porsche should by Chrysler once their finished with buying up VW.

The truth .

Wow. We went from Porsche's great financial showing to Obama possibly being a cool, but weak, president. The free association here rivals any that Bill Clinton could muster up.

You're ABSOLUTELY right... For Porsche's sake, let's see if we can extend GWB's term for 8 more years!!!

that is good news for porsche, however 10 years pre-boxer days, they were near broke. VW was damn near broke 2 years ago.

VW was never broke. They are still struggling in the US but they're really successful WW.

Porsche was saved from extinction thanks to adopting Japanese style “lean” manufacturing. A group of ex-Toyota consultants are directly responsible for the existence of Porsche today. At the time, Toyota didn’t have a problem with these guys showing Porsche the ropes because they felt that Porsche wasn’t a threat due to it’s niche’ market. Well, things have changed since then. Porsche now owns VW and stands to become another car company. It’s was easier for Porsche to gain massive profits because of it’s specialized vertical market with almost no competitors (with the exception of a couple of Italian makes). There are too many wealthy people in the world that buy Cayenne’s and 911’s with tiptronic. We’ll see how they do now that they own a bigger stake in VW. Watch out world, a front wheel drive Porsche maybe coming soon to a dealer near you. Ughh.

The 911 will go down in automotive history as one of the most iconic cars. I'm a proud Porsche owner.

997TT - I agree with every single word, except that i would as it has already gone down, not will go down... (from another very proud Porsche owner...)

Porsche's success is to be lauded. Hats off to them.

However, Porsche is a master of "niche marketing". The brand doesn't have quite as much cachet as Ferrari, Lamborghini, or Aston Martin, but their cars offer comparable performance at a lower price, and are as comfortable picking up groceries and drycleaning as they are on a racetrack. Some astute gearhead described Porsche as the "supercar you can drive every day". Jaguar SHOULD be in the same enviable position as Porsche but is not, further testament to Porsche's business savvy.

Now Porsche faces three new, lower-priced serious competitors -the Corvette Z06 & ZR1, the Audi R8, and the Nissan GT-R. It will be interesting to see how well Porsche fends off these challengers.

Sailor you must have lost your history book. You mention the wars that have been fought, what could we possibly have wanted from Vietnam, Korea and especially Afghanistan? These were and are being fought for reasons other than greed. Really if your going to make comments like "You don't find destroying a nation for personal gain arrogant!",
you had better find that history book and review it. Europe has a history destroying nations worldwide for personal gain. Britain being one of histories biggest offenders. This nation was in fact, was founded by British imperialism. We used be an isolationist nation until being dragged into two wars in Europe and one in the pacific because of Japanese imperialism. Where was the diplomacy when Archduke Franz Ferdinand was assassinated?

By the way I am not trying to disparage Britain, I love the place. I have never been but love many British things, such as Bass Ale, Newcastle Brown and of course Top Gear. ;)

Joking aside, my point is ALL nations have done and do things they should not. To use those arguments just smack of hypocrisy.

As to the topic of the thread I believe there is truth to what Porsche is saying, and congrats to them for knowing their niche and sticking to it. Time will how bright they are though, with the huge investments in Volkswagen.

Sailor, fun fact: huu76 is Canadian.

TRUTH!

If you can't afford it, don't buy it.

In 2004, the GS(Goldman Sachs)chairman along with other investment bank personnel approached the SEC to ease on investment banking regulation. Although concerned, the SEC allowed it.

It's called Leverage. For every $1 that a commercial bank has, it can lend out $12. The investment banking community asked and received a $40 to 1 leverage.
By the way, Freddie and Fannie? $50 TO 1, $50!!

The Chairman of GS back then is our current Treasury Secretary, Paulson...

In France, to get a mortgage loan, you need:
1 - Pass a physical
2 - Get life insurance
3 - Have a rock solid job with history there.

That might be a bit extreme, but not french bank has asked or received a government bailout.

Food for thought...

Porsche is right! Obama will win! The world not just Americas economy is screwed mostly due to poor credit decisions (derivatives & deregulation) and its not going to change with a 1st term president (even if its McCain).
Speakin of politics. Its funny how people are calling Obama a terrorist and a socialist when Bush is in the process of nationalizing banks and giving control of the money to a middle eastern banker...Neel Kashkari.
I find it hilarious that since an oilman went into office gas prices damn near tripled, the economy has flatered and we've been in two wars that we are losing. And you people want 8 more years of republican rule. Yes I know the dems have been in congress for the last two but what about the 6 before that?????
T

By what criteria are we losing the wars? Not trying to flame, but I want to know why you think we are losing. Certainly the military is not losing -- neither Al Qaida in Iraq nor the Taliban have defeated us in any battle. If you mean we are losing in public opinion, sure, I'll agree, but militarily, we are not losing.

No excuse for the Dems either.

gooch

If you haven't won yet, it means your losing. In Iraq since 2004, is Iraq stable yet? Nope. In afghanistan from 2001... Did you stop AlQaeda? Nope.

Soldiers getting killed every single day, some hidden by the government, others announced... So yes, you are losing. Thanks to Bush, Terrorists are stronger than ever now.

How come Bin Laden hasn\t been found yet?
Oh yeah, that's right, you guys couldn't care less about him because he was never the priority for the Afghanistan wat.

Hey, did you guys ever find any pieces of the plane that supposedly hit the pentagon? Oh right, i forgot, the plane evaporated into thin air.

Honestly I dont give a fart what Porsche thinks about America. They dont sell enough cars here for me to car.

Hey waterboy, what has Bush done for the US that's so much better than Clinton, other than burn trillions of dollars?
Bush is the cause of the end of American dominance.
Remember this day when oil starts trading in euros and US dollars.
What can the US produce nowadays, other than burgers, porn and bombs. Your a military nation, that's it that's all. And just like everyother superpower before the collapse is closely approaching.

Huu76- I have deal with your health care system. While it has some advantageous it also has serious drawbacks in the level of human caring.

In general the attitude is "I work for the man" in the US the attitude is more like "I will do what is right and needed regardless of the cost".

So you can have your health cared for by open minded doctors, or you can have it dictated to by the system.