Obama's GM Success Story

[CrusaderFrank]

Remember when Obama saved GM?

Instead of letting go through an orderly bankruptcy and reorganizing its finances and operations, Obama stepped in to screw the Senior Secured Creditors (pension funds and investors who thought they had a senior claim on GM) and handed equity in the Company to the laziest, most incompetent group on the planet: The UAW.

Now that Government Motors has recalled more cars than they've sold, does this still count as an Obama Success?

GM's recall nightmare - May. 21, 2014

 

[The Rabbi]

Remember when Obama saved GM?

Instead of letting go through an orderly bankruptcy and reorganizing its finances and operations, Obama stepped in to screw the Senior Secured Creditors (pension funds and investors who thought they had a senior claim on GM) and handed equity in the Company to the laziest, most incompetent group on the planet: The UAW.

Now that Government Motors has recalled more cars than they've sold, does this still count as an Obama Success?

GM's recall nightmare - May. 21, 2014

It was Bush's fault.
You watch.

 

[DGS49]

Although I was (and remain) no defender of the illegal intrustion into the b'ruptcy of GM and Chrysler, counting the number of cars recalled is a pretty stupid way to address the issue.

These "defects" are statistically insignificant and deal with "problems" that are generally nonsensical. Unless you are in the habit of attaching a boom box to your car keys.

Nothing is perfect. Today's cars are orders of magnitude safer, more reliable, more efficient, and longer lasting than anything even produced a generation ago. The recalls that are forced on the car dealers now are lawyer-driven nonsense.

You want a perfectly safe car? It will be 10,000 pounds and have a maximum speed of 8mph. And cost a couple hundred thou.

 

[The Professor]

Remember when Obama saved GM?

Instead of letting go through an orderly bankruptcy and reorganizing its finances and operations, Obama stepped in to screw the Senior Secured Creditors (pension funds and investors who thought they had a senior claim on GM) and handed equity in the Company to the laziest, most incompetent group on the planet: The UAW.

Now that Government Motors has recalled more cars than they've sold, does this still count as an Obama Success?

GM's recall nightmare - May. 21, 2014

Let's not forget the 20,000 non-union workers the Obama team screwed out of their health and life insurance benefits as well as a substantial portion of their earned pensions.

“These forgotten nonunion pensioners (who worked for the Delphi/GM auto parts company) lost all of their health and life insurance benefits. Hailing from the economically devastated Rust Belt — northeast Ohio, Michigan and neighboring states — the Delphi workers had devoted decades of their lives as secretaries, technicians, engineers and sales employees. Some have watched up to 70 percent of their pensions vanish. They’ve banded together to seek justice in court and on Capitol Hill under the banner of the Delphi Salaried Retiree Association.”

The rest of this article can be read at the following link:

Michelle Malkin | » The Autoworkers Obama Left Behind

In another article on the subject, Michelle Malkin described the personal hardships faced by the 20,000 non-union GM/Delphi workers. Here are a few examples of what these workers had to say:

“I’m one of the Delphi Salaried Retirees that lost the health care, life insurance and 67 percent of the pension I was promised in retirement after working hard for 40 years,” Charles Stone of Michigan e-mailed. “Words cannot describe the frustration and let down these events have thrust on my family’s lives, and to have GM’s rescue all sugar-coated in the current political environment is like putting lipstick on a pig. … We will continue to fight to right this grievous wrong.”

Tom Rose of Ohio added: “I am one of the 20,000 salaried retirees that lost all of my health care and — in my case — a 40 percent pension cut. So I am now paying increased health care costs with fewer pension dollars and contributing what is left to our lawsuit to correct this injustice. Meanwhile, the politically connected union has their full pension and 90-plus percent of their health care. You have hit upon the key question: How can our own federal government pick winners and losers amongst its own citizens?”

Michelle Malkin | » Meet the real workers Obama screwed over

When Obama stated that he would bail out other industries the way he did GM, I laughed out loud.

Edited to add: Some of Obama's supporters may attempt to claim that he had nothing to do with what happened to the Delphi workers. I would remind them of two things: (1) It was Obama's team who was in complete charge of the entire affair; and (2) Obama had to know about the injured Delphi workers yet he did nothing to correct this injustice. Obama brags about having a pen to implement his agenda, but he refused to use it to help 20,000 hard working men and women who were grievously harmed by their own government's actions. The only logical conclusion is that Obama doesn't give a shit about anyone unless they can help him stay in office. Non-union workers can be sacrificed because union workers support the king. This is so fucking sad.

 

[TheOldSchool]

If we listened to cons and didn't have any safety standards for cars this would never have happened.

 

[bedowin62]

If we listened to cons and didn't have any safety standards for cars this would never have happened.

you are an idiot

pure and simple

 

[TheOldSchool]

If we listened to cons and didn't have any safety standards for cars this would never have happened.

you are an idiot

pure and simple

Click it or ticket bro

 

[RDD_1210]

Is this what "true Americans" do? Actively cheer the failures of American companies and root for the downfall of the American president?

 

[The Rabbi]

Is this what "true Americans" do? Actively cheer the failures of American companies and root for the downfall of the American president?

No. As usual you're wrong.
True Americans look at failures and figure out what went wrong and vow never to repeat it. Like electing a scumbag like Obama.

 

[TheOldSchool]

Betcha $20 GM will be fine

 

[JimH52]

Remember when Obama saved GM?

Instead of letting go through an orderly bankruptcy and reorganizing its finances and operations, Obama stepped in to screw the Senior Secured Creditors (pension funds and investors who thought they had a senior claim on GM) and handed equity in the Company to the laziest, most incompetent group on the planet: The UAW.

Now that Government Motors has recalled more cars than they've sold, does this still count as an Obama Success?

GM's recall nightmare - May. 21, 2014

And they are still selling cars! A recall is fixing a problem, not returning the car. The new CEO is going through backlogs and making sure there is nothing that could give GM another black eye in the near future. A very good idea!

GM will do well. Yes, it is still a success story and Bush would have done the same thing.

 

[boedicca]

As if. It's quite telling that the Gubmint dumped it's GM stock right before the recall was announced.

GM has recalled more cars this year than it sold last year. That's not a good sign.

 

[Plasmaball]

Remember when Obama saved GM?

Instead of letting go through an orderly bankruptcy and reorganizing its finances and operations, Obama stepped in to screw the Senior Secured Creditors (pension funds and investors who thought they had a senior claim on GM) and handed equity in the Company to the laziest, most incompetent group on the planet: The UAW.

Now that Government Motors has recalled more cars than they've sold, does this still count as an Obama Success?

GM's recall nightmare - May. 21, 2014

I was waiting for this...Toyota just recalled a bunch too...sooo -zzzzzzzzz

 

[boedicca]

When was Toyota bailed out by the Federal Government in a fake bankruptcy proceeding which shafted legitimate bondholders and allowed the company to keep the tax benefits of Net Operating Losses which should have been voided under bankruptcy law?

 

[RDD_1210]

Is this what "true Americans" do? Actively cheer the failures of American companies and root for the downfall of the American president?

No. As usual you're wrong.
True Americans look at failures and figure out what went wrong and vow never to repeat it. Like electing a scumbag like Obama.

Vow to never repeat? Ha!

But you people are "regressives" for a reason. All you want to do is repeat your past failures.

 

[TheOldSchool]

When was Toyota bailed out by the Federal Government in a fake bankruptcy proceeding which shafted legitimate bondholders and allowed the company to keep the tax benefits of Net Operating Losses which should have been voided under bankruptcy law?

Maybe we should subsidize the crap out of GM the way Japan does with Toyota

 

[boedicca]

Maybe we should stop subsidizing companies that can't compete.

 

[NYcarbineer]

If we listened to cons and didn't have any safety standards for cars this would never have happened.

Cars would only come with seat belts if the manufacturers felt like putting them in if conservatives had their way.

btw, if GM had gone bankrupt then their liability for defects in cars already sold would have likely gone with it.

 

[NYcarbineer]

Maybe we should stop subsidizing companies that can't compete.

Start by taking the filibuster away from the Republicans.

 

[boedicca]

Maybe we should stop subsidizing companies that can't compete.

Start by taking the filibuster away from the Republicans.

Of course you want to silence freedom of speech.

It terrifies you.