U.S. Set to Sell Last of Its GM Stake

[BullKurtz]

The bailout was all about their mismanaged pension funds.

They went bankrupt even after that loan something that should have happened without taxpayer dollars being spent.

They saved the pension funds but if any taxpayer thinks GM is going to payback that money, they can think again.

Another screwing for the taxpayer by the guy who brought you Solyndra.

No, the bailout was all about MANAGEMENT who continued taking grotesque salaries and benefits while giving their workers shit materials and designs to work with. In Detroit, the engineers were across town from the designers, management dared not step on the factory floor, and GM in particular was out buying companies like Hughes instead of investing in new fabricating equipment. The theory since Henry Ford opened the River Rouge plant was you'd need a new car every three years ie planned obsolesence. Then after NAFTA, they ran to Mexico for cheaper labor. The japs were taught the new style car business by an American fella named Demming, began with brand new plants, machinery, and a young workforce unburdened by healthcare or pension costs. Guess what? Now it's caught up with them and ToyoDA (how the founder's name was really spelled) is in the same fix as the American companies were....their product lasted too long and sales stalled.

 

[Moonglow]

GM is again building world-class cars and trucks and we maintained our ability to mass-produce tanks and trucks for the next world war. Sam would have paid more than the stock price loss in unemployment benefits. I'm sorry about the old GM stockholders but c'mon.....years of red ink should have been enough warning to get out. I despise Obama but he gets a bushel of arugula for guiding GM and Chrysler out of the woods......if they'd failed, Ford would have too and then we'd have been at the mercy of the japs and koreans for our transportation.....that couldn't happen.

Most civilians do not understand why auto companies are helped so much by the govt. You are the first to note that these places during war would produce tanks, armored personnel carriers, etc.
pos rep 4 u.

Detroit was called "The Arsenal For Democracy" during the war by turning the auto plants into production of tanks, half-tracks, trucks, and weaponry. This generation grew up believing the Madison Ave hype of the superiority of jap crap furthered by the feminists demanding "reliable transportation" so they wouldn't end up on the side of the road going to the job they took from a man trying to feed his family. Consumer Reports led the charge fueled by millions of phony subscriptions from the Japanese government, which incidentally funds all the R&D for the major jap auto builders. That amounts to a lot more than Sam traded to keep the Big Three solvent. Shitty looking formless little piles of tin riveted together, with bad paint and runaway throttle-advance software. Those bitching the loudest are those who drive jap crap knowing they've cost an American a job. And before they squeal they are "made in America", they are ASSEMBLED in the southern states. The money in the auto business is who builds the engines and drive-trains, not who rivets the body to the chassis.

Those Chrysler trucks we had to drive in the Army in the early eighties sucked. The magneto on the starter never wanted to engage and start, just like many of the autos on the market.

 

[Moonglow]

The bailout was all about their mismanaged pension funds.

They went bankrupt even after that loan something that should have happened without taxpayer dollars being spent.

They saved the pension funds but if any taxpayer thinks GM is going to payback that money, they can think again.

Another screwing for the taxpayer by the guy who brought you Solyndra.

No, the bailout was all about MANAGEMENT who continued taking grotesque salaries and benefits while giving their workers shit materials and designs to work with. In Detroit, the engineers were across town from the designers, management dared not step on the factory floor, and GM in particular was out buying companies like Hughes instead of investing in new fabricating equipment. The theory since Henry Ford opened the River Rouge plant was you'd need a new car every three years ie planned obsolesence. Then after NAFTA, they ran to Mexico for cheaper labor. The japs were taught the new style car business by an American fella named Demming, began with brand new plants, machinery, and a young workforce unburdened by healthcare or pension costs. Guess what? Now it's caught up with them and ToyoDA (how the founder's name was really spelled) is in the same fix as the American companies were....their product lasted too long and sales stalled.

Hence notice the massive recalls, why not pick up a new vehicle while your waiting for yours to be repaired.

 

[BullKurtz]

Most civilians do not understand why auto companies are helped so much by the govt. You are the first to note that these places during war would produce tanks, armored personnel carriers, etc.
pos rep 4 u.

Detroit was called "The Arsenal For Democracy" during the war by turning the auto plants into production of tanks, half-tracks, trucks, and weaponry. This generation grew up believing the Madison Ave hype of the superiority of jap crap furthered by the feminists demanding "reliable transportation" so they wouldn't end up on the side of the road going to the job they took from a man trying to feed his family. Consumer Reports led the charge fueled by millions of phony subscriptions from the Japanese government, which incidentally funds all the R&D for the major jap auto builders. That amounts to a lot more than Sam traded to keep the Big Three solvent. Shitty looking formless little piles of tin riveted together, with bad paint and runaway throttle-advance software. Those bitching the loudest are those who drive jap crap knowing they've cost an American a job. And before they squeal they are "made in America", they are ASSEMBLED in the southern states. The money in the auto business is who builds the engines and drive-trains, not who rivets the body to the chassis.

Those Chrysler trucks we had to drive in the Army in the early eighties sucked. The magneto on the starter never wanted to engage and start, just like many of the autos on the market.

I've owned a 318 Plymouth Fury and a Dodge Dart with the slant-6..possibly the most reliable, snappy motor ever made....oh, and a Chevy Impala with the 283...the only perfect motor to this day....matched horsepower to cubic inches. My mom had to sell my '64 Gran Prix GTO while I was in the RVN because my dad died and the insurance company played games with her. Nothing like a little extra stress from the homeland while you're on a LRRP team laying dog and often surrounded by a couple hundred NVA.

 

[BullKurtz]

The bailout was all about their mismanaged pension funds.

They went bankrupt even after that loan something that should have happened without taxpayer dollars being spent.

They saved the pension funds but if any taxpayer thinks GM is going to payback that money, they can think again.

Another screwing for the taxpayer by the guy who brought you Solyndra.

No, the bailout was all about MANAGEMENT who continued taking grotesque salaries and benefits while giving their workers shit materials and designs to work with. In Detroit, the engineers were across town from the designers, management dared not step on the factory floor, and GM in particular was out buying companies like Hughes instead of investing in new fabricating equipment. The theory since Henry Ford opened the River Rouge plant was you'd need a new car every three years ie planned obsolesence. Then after NAFTA, they ran to Mexico for cheaper labor. The japs were taught the new style car business by an American fella named Demming, began with brand new plants, machinery, and a young workforce unburdened by healthcare or pension costs. Guess what? Now it's caught up with them and ToyoDA (how the founder's name was really spelled) is in the same fix as the American companies were....their product lasted too long and sales stalled.

Hence notice the massive recalls, why not pick up a new vehicle while your waiting for yours to be repaired.

ToyoDA never gave DOT the reasons for the runawyas that killed dozens of Americans. Claimed it was "proprietary" information and none of our fucking business. They are predatory little bastards....they stole our electronics industry, our motorcyle and small engine industries, our musical instrument industries, and sold their autos below cost until they almost bankrupted our car builders. My uncle fought them through the south Pacific until he was wounded on Saipan. If I'd told him I was thinking about buying a jap car he'd have beaten the living crap outta me.

 

[Claudette]

The bailout was all about their mismanaged pension funds.

They went bankrupt even after that loan something that should have happened without taxpayer dollars being spent.

They saved the pension funds but if any taxpayer thinks GM is going to payback that money, they can think again.

Another screwing for the taxpayer by the guy who brought you Solyndra.

No, the bailout was all about MANAGEMENT who continued taking grotesque salaries and benefits while giving their workers shit materials and designs to work with. In Detroit, the engineers were across town from the designers, management dared not step on the factory floor, and GM in particular was out buying companies like Hughes instead of investing in new fabricating equipment. The theory since Henry Ford opened the River Rouge plant was you'd need a new car every three years ie planned obsolesence. Then after NAFTA, they ran to Mexico for cheaper labor. The japs were taught the new style car business by an American fella named Demming, began with brand new plants, machinery, and a young workforce unburdened by healthcare or pension costs. Guess what? Now it's caught up with them and ToyoDA (how the founder's name was really spelled) is in the same fix as the American companies were....their product lasted too long and sales stalled.

Not according to this article.

Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times


Where did that money go? Mainly, it went to paying off debts owed by GM and Chrysler, and – in an historic distortion of our bankruptcy proceedings – to securing the pensions and livelihoods of UAW workers. It turns out the real debt was that of Mr. Obama to organized labor, which had ponied up some $400 million to help him defeat John McCain. - See more at: Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times

 

[BullKurtz]

The bailout was all about their mismanaged pension funds.

They went bankrupt even after that loan something that should have happened without taxpayer dollars being spent.

They saved the pension funds but if any taxpayer thinks GM is going to payback that money, they can think again.

Another screwing for the taxpayer by the guy who brought you Solyndra.

No, the bailout was all about MANAGEMENT who continued taking grotesque salaries and benefits while giving their workers shit materials and designs to work with. In Detroit, the engineers were across town from the designers, management dared not step on the factory floor, and GM in particular was out buying companies like Hughes instead of investing in new fabricating equipment. The theory since Henry Ford opened the River Rouge plant was you'd need a new car every three years ie planned obsolesence. Then after NAFTA, they ran to Mexico for cheaper labor. The japs were taught the new style car business by an American fella named Demming, began with brand new plants, machinery, and a young workforce unburdened by healthcare or pension costs. Guess what? Now it's caught up with them and ToyoDA (how the founder's name was really spelled) is in the same fix as the American companies were....their product lasted too long and sales stalled.

Not according to this article.

Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times


Where did that money go? Mainly, it went to paying off debts owed by GM and Chrysler, and – in an historic distortion of our bankruptcy proceedings – to securing the pensions and livelihoods of UAW workers. It turns out the real debt was that of Mr. Obama to organized labor, which had ponied up some $400 million to help him defeat John McCain. - See more at: Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times

Damn, this is so tedious...look, Obama gave them financing after the Bush "bridge loans"...everybody agreed they couldn't let the auto industry collapse. Of course it was nothing compared to what the banks got and instead of lending it to new business start ups, kept it, bought smaller banks, and put the rest in the stock market, often in more mortgage derivatives, which crashed the economy in the first place.

I don't give a shit what you think of the UAW....a guy next to me got killed on the line at Saginaw SG...why? because the assemblies were swinging due to the chain-drive being old...he didn't see it in time. Union steward demanded the line be closed until kill-buttons could be installed....GM said FUCK YOU....so we backed off the line and nothing was built....6 hours later we had the kill-buttons. Got it?

Further, GM has refurbished several old plants and hired hundreds of new workers at an hourly wage with skeletal benefits compared to the old days. Does the UAW support the democrats? Yep, too bad too because the dems only care about them when it's election time. Be that as it may, our Titans of Industry would be pleased as hell to have the old company towns back where the worker could never get out of debt or quit. That's what they have in China....Apple required their slants to sign pacts stating they wouldn't commit suicide on the job.....I bet they wouldn't mind having a little protection from a union, eh?

 

[jknowgood]

uhmmmm, I am stating that I would rather they sell it now than lose everything we foolishly invested and received stock for...

I'm on the right.

If it was such a great investment why not wait till the stock goes up and cash out when you don't lose any money?

You really want us to wait until they end up bankrupt again and we then lose even more on it? My whole point is it wasn't a great investment. And this administrations control over it, is only hampering it even more, if that is even possible.

The Government's Bailout Of General Motors Is Strangling GM - Forbes

Sorry i read you wrong. I was just trying to say obama braggs about the bailouts being such a success why are we losing money. All the people paying attention that the bailouts were a failure. I didn't support it when bush did it.

 

[Claudette]

No, the bailout was all about MANAGEMENT who continued taking grotesque salaries and benefits while giving their workers shit materials and designs to work with. In Detroit, the engineers were across town from the designers, management dared not step on the factory floor, and GM in particular was out buying companies like Hughes instead of investing in new fabricating equipment. The theory since Henry Ford opened the River Rouge plant was you'd need a new car every three years ie planned obsolesence. Then after NAFTA, they ran to Mexico for cheaper labor. The japs were taught the new style car business by an American fella named Demming, began with brand new plants, machinery, and a young workforce unburdened by healthcare or pension costs. Guess what? Now it's caught up with them and ToyoDA (how the founder's name was really spelled) is in the same fix as the American companies were....their product lasted too long and sales stalled.

Not according to this article.

Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times


Where did that money go? Mainly, it went to paying off debts owed by GM and Chrysler, and – in an historic distortion of our bankruptcy proceedings – to securing the pensions and livelihoods of UAW workers. It turns out the real debt was that of Mr. Obama to organized labor, which had ponied up some $400 million to help him defeat John McCain. - See more at: Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times

Damn, this is so tedious...look, Obama gave them financing after the Bush "bridge loans"...everybody agreed they couldn't let the auto industry collapse. Of course it was nothing compared to what the banks got and instead of lending it to new business start ups, kept it, bought smaller banks, and put the rest in the stock market, often in more mortgage derivatives, which crashed the economy in the first place.

I don't give a shit what you think of the UAW....a guy next to me got killed on the line at Saginaw SG...why? because the assemblies were swinging due to the chain-drive being old...he didn't see it in time. Union steward demanded the line be closed until kill-buttons could be installed....GM said FUCK YOU....so we backed off the line and nothing was built....6 hours later we had the kill-buttons. Got it?

Further, GM has refurbished several old plants and hired hundreds of new workers at an hourly wage with skeletal benefits compared to the old days. Does the UAW support the democrats? Yep, too bad too because the dems only care about them when it's election time. Be that as it may, our Titans of Industry would be pleased as hell to have the old company towns back where the worker could never get out of debt or quit. That's what they have in China....Apple required their slants to sign pacts stating they wouldn't commit suicide on the job.....I bet they wouldn't mind having a little protection from a union, eh?

Thanks for your explanation. Not saying I agree with it but thanks anyway.

But no way should taxpayer dollars have gone to GM. I don't care how many jobs it saved. Its not the business of the Govt to pick winners and losers. Its not the Govt job to bail out any company.

GM should have gone bankrupt without our taxdollars. Thats the bottom line.

 

[rdean]

Republicans tossed 9 billion in one day and didn't save a single job.

That's pallets of US currency arriving and disapearing in Iraq.

Then there is the recent 24 billion the GOP lost shutting down the economy.

At least when Democrats lose money, they get something in return.

 

[BullKurtz]

Not according to this article.

Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times


Where did that money go? Mainly, it went to paying off debts owed by GM and Chrysler, and – in an historic distortion of our bankruptcy proceedings – to securing the pensions and livelihoods of UAW workers. It turns out the real debt was that of Mr. Obama to organized labor, which had ponied up some $400 million to help him defeat John McCain. - See more at: Obama?s Auto Bailout Was Really a Hefty Union Payoff | The Fiscal Times

Damn, this is so tedious...look, Obama gave them financing after the Bush "bridge loans"...everybody agreed they couldn't let the auto industry collapse. Of course it was nothing compared to what the banks got and instead of lending it to new business start ups, kept it, bought smaller banks, and put the rest in the stock market, often in more mortgage derivatives, which crashed the economy in the first place.

I don't give a shit what you think of the UAW....a guy next to me got killed on the line at Saginaw SG...why? because the assemblies were swinging due to the chain-drive being old...he didn't see it in time. Union steward demanded the line be closed until kill-buttons could be installed....GM said FUCK YOU....so we backed off the line and nothing was built....6 hours later we had the kill-buttons. Got it?

Further, GM has refurbished several old plants and hired hundreds of new workers at an hourly wage with skeletal benefits compared to the old days. Does the UAW support the democrats? Yep, too bad too because the dems only care about them when it's election time. Be that as it may, our Titans of Industry would be pleased as hell to have the old company towns back where the worker could never get out of debt or quit. That's what they have in China....Apple required their slants to sign pacts stating they wouldn't commit suicide on the job.....I bet they wouldn't mind having a little protection from a union, eh?

Thanks for your explanation. Not saying I agree with it but thanks anyway.

But no way should taxpayer dollars have gone to GM. I don't care how many jobs it saved. Its not the business of the Govt to pick winners and losers. Its not the Govt job to bail out any company.

GM should have gone bankrupt without our taxdollars. Thats the bottom line.

It may be your bottom line but keep in mind all the other nations who build automobiles have heavy govt. backing. How many more industries and jobs must we lose when we're the only ones playing by 20th Century rules? You have no skin the game so you can preach from on-high about principles, but the Americans getting pink-slipped by the thousands have a different opinion. Whatever business you're in depends on our workers having money to spend. Free enterprise isn't a suicide-pact for those who do the actual work is it? Is it?

 

[CrusaderFrank]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

Bush gave GM loans without requiring stock

Obama gave UAW ownership in GM for nothing

 

[BullKurtz]

In addition, most of the readers here are office workers....the average office worker who's HERE instead of earning their money, does actual WORK for about 3 hours a day....most of it produces nothing. The line-worker in a factory WORKS all day, 8 hours, from the moment he or she walks through the gate....no web-surfing, no pranks, no hiding in the restroom. The GOP forgot to appreciate those who keep this society running and consequently have lost the blue-collar voters. It's why us old Reagan democrats went Tea Party......don't confuse us with those content to let our auto builders go bankrupt with a hearty "TOUGH SHIT"....i don't confuse them with real Americans.

 

[BullKurtz]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

Bush gave GM loans without requiring stock

Obama gave UAW ownership in GM for nothing

Really? You mean they're allowed to participate in profit-sharing and consequently building world-class cars as a result. Give the average guy a piece of the action and you'll have a motivated individual on your hands. That's what's going on in Detroit these days.

 

[Claudette]

Damn, this is so tedious...look, Obama gave them financing after the Bush "bridge loans"...everybody agreed they couldn't let the auto industry collapse. Of course it was nothing compared to what the banks got and instead of lending it to new business start ups, kept it, bought smaller banks, and put the rest in the stock market, often in more mortgage derivatives, which crashed the economy in the first place.

I don't give a shit what you think of the UAW....a guy next to me got killed on the line at Saginaw SG...why? because the assemblies were swinging due to the chain-drive being old...he didn't see it in time. Union steward demanded the line be closed until kill-buttons could be installed....GM said FUCK YOU....so we backed off the line and nothing was built....6 hours later we had the kill-buttons. Got it?

Further, GM has refurbished several old plants and hired hundreds of new workers at an hourly wage with skeletal benefits compared to the old days. Does the UAW support the democrats? Yep, too bad too because the dems only care about them when it's election time. Be that as it may, our Titans of Industry would be pleased as hell to have the old company towns back where the worker could never get out of debt or quit. That's what they have in China....Apple required their slants to sign pacts stating they wouldn't commit suicide on the job.....I bet they wouldn't mind having a little protection from a union, eh?

Thanks for your explanation. Not saying I agree with it but thanks anyway.

But no way should taxpayer dollars have gone to GM. I don't care how many jobs it saved. Its not the business of the Govt to pick winners and losers. Its not the Govt job to bail out any company.

GM should have gone bankrupt without our taxdollars. Thats the bottom line.

It may be your bottom line but keep in mind all the other nations who build automobiles have heavy govt. backing. How many more industries and jobs must we lose when we're the only ones playing by 20th Century rules? You have no skin the game so you can preach from on-high about principles, but the Americans getting pink-slipped by the thousands have a different opinion. Whatever business you're in depends on our workers having money to spend. Free enterprise isn't a suicide-pact for those who do the actual work is it? Is it?

That may be the case in other countries but not here. GM, Chrysler and other auto makers are companies. They should be able to stand on their own.

Ford didn't take a bail out. They got a loan and are doing fine. Didn't cost the taxpayers dime one.

The Govt shouldn't be using taxdollars to bail out anyone.

Sorry but suicide pact my ass.

Love ya Marine but you and I just don't agree on this and probably never will.

 

[BullKurtz]

Thanks for your explanation. Not saying I agree with it but thanks anyway.

But no way should taxpayer dollars have gone to GM. I don't care how many jobs it saved. Its not the business of the Govt to pick winners and losers. Its not the Govt job to bail out any company.

GM should have gone bankrupt without our taxdollars. Thats the bottom line.

It may be your bottom line but keep in mind all the other nations who build automobiles have heavy govt. backing. How many more industries and jobs must we lose when we're the only ones playing by 20th Century rules? You have no skin the game so you can preach from on-high about principles, but the Americans getting pink-slipped by the thousands have a different opinion. Whatever business you're in depends on our workers having money to spend. Free enterprise isn't a suicide-pact for those who do the actual work is it? Is it?

That may be the case in other countries but not here. GM, Chrysler and other auto makers are companies. They should be able to stand on their own.

Ford didn't take a bail out. They got a loan and are doing fine. Didn't cost the taxpayers dime one.

The Govt shouldn't be using taxdollars to bail out anyone.

Sorry but suicide pact my ass.

Love ya Marine but you and I just don't agree on this and probably never will.

No worries.....many of the Cons on other sites give me all kinds of grief about my views on DEtroit car companies and their future going forward.

Incidentally, check Ford's stock price compared to GMs. Ford would have gone under if the other two did because of the parts supply chains not having enough orders to stay afloat. Barry could have recouped the rest of the loan but the CEOs wanted out of the deal because of continuing anger about the bailout....it cost them thousands of sales thanks to how Fox and the WSJ spun it. Still the $10B would have gone to waste in lost income taxes and unemployment benefits not only from autoworkers but small businesses around the auto plants. It's a wash in dollars and we have a million workers keeping their job. That's a pretty good deal all around.

 

[Claudette]

It may be your bottom line but keep in mind all the other nations who build automobiles have heavy govt. backing. How many more industries and jobs must we lose when we're the only ones playing by 20th Century rules? You have no skin the game so you can preach from on-high about principles, but the Americans getting pink-slipped by the thousands have a different opinion. Whatever business you're in depends on our workers having money to spend. Free enterprise isn't a suicide-pact for those who do the actual work is it? Is it?

That may be the case in other countries but not here. GM, Chrysler and other auto makers are companies. They should be able to stand on their own.

Ford didn't take a bail out. They got a loan and are doing fine. Didn't cost the taxpayers dime one.

The Govt shouldn't be using taxdollars to bail out anyone.

Sorry but suicide pact my ass.

Love ya Marine but you and I just don't agree on this and probably never will.

No worries.....many of the Cons on other sites give me all kinds of grief about my views on DEtroit car companies and their future going forward.

Incidentally, check Ford's stock price compared to GMs. Ford would have gone under if the other two did because of the parts supply chains not having enough orders to stay afloat. Barry could have recouped the rest of the loan but the CEOs wanted out of the deal because of continuing anger about the bailout....it cost them thousands of sales thanks to how Fox and the WSJ spun it. Still the $10B would have gone to waste in lost income taxes and unemployment benefits not only from autoworkers but small businesses around the auto plants. It's a wash in dollars and we have a million workers keeping their job. That's a pretty good deal all around.

You may be right about Ford but they didn't take taxpayer dollars and are still in business.

As for me being a con? I'm a fiscal conservative and a registered Indi. I think both parties suck.

I could care less about abortion, gays or someone smoking pot in their house and I sure as shit don't care what folks do in the privacy of their bedrooms. LOL

Oh yeah. If I walked into a church the fucker would probably collapse.

Nice talking with you and I hope to see you on the board again. Have a good one.

 

[Redfish]

GM is again building world-class cars and trucks and we maintained our ability to mass-produce tanks and trucks for the next world war. Sam would have paid more than the stock price loss in unemployment benefits. I'm sorry about the old GM stockholders but c'mon.....years of red ink should have been enough warning to get out. I despise Obama but he gets a bushel of arugula for guiding GM and Chrysler out of the woods......if they'd failed, Ford would have too and then we'd have been at the mercy of the japs and koreans for our transportation.....that couldn't happen.

Totally wrong. The GM and Chrysler bailouts were to save the UAW and pay them back for helping elect obama.

If the car companies had gone through a structured bankruptcy, those huge inefficient companies would have been broken up into smaller more cost effective companies.

The problem was that each of those new companies would have had a union representation vote----the UAW could not take the chance that it might lose thousands of paying members so they begged obama to do the bailout and save their asses.

and we the taxpayers are paying for it--------this is corruption and bribery of the worst kind.

Bullshit. I'm from Detroit, spent a summer on the line at Saginaw Steering Gear....you don't get any of this, especially the economy of scale. And you might want to remember the jap plants built in the South were financed by TAXPAYER DOLLARS and if the UAW had gone under, those workers would be on minimum wage. Today we have a million tax paying Americans employed and spending their wages with other American workers instead of new rice-burner skyscrapers thanks to the auto bailout. Your bitching is old and proved worthless.

Horseshit, first, the car factories in the south get tax credits, but the net value to the state is a very large positive number. its smart business. They also pay good wages and provide good benefits--without the asshole thugs from the UAW.

you need to face reality, the GM bailout was to save the UAW and ensure the flow of cash from them to the DNC.

economy of scale only works up to a certain point, then the enterprise collapses on itself. Thats where GM was, and will probably be again. are we going to bail them out again?

 

[Redfish]

It may be your bottom line but keep in mind all the other nations who build automobiles have heavy govt. backing. How many more industries and jobs must we lose when we're the only ones playing by 20th Century rules? You have no skin the game so you can preach from on-high about principles, but the Americans getting pink-slipped by the thousands have a different opinion. Whatever business you're in depends on our workers having money to spend. Free enterprise isn't a suicide-pact for those who do the actual work is it? Is it?

That may be the case in other countries but not here. GM, Chrysler and other auto makers are companies. They should be able to stand on their own.

Ford didn't take a bail out. They got a loan and are doing fine. Didn't cost the taxpayers dime one.

The Govt shouldn't be using taxdollars to bail out anyone.

Sorry but suicide pact my ass.

Love ya Marine but you and I just don't agree on this and probably never will.

No worries.....many of the Cons on other sites give me all kinds of grief about my views on DEtroit car companies and their future going forward.

Incidentally, check Ford's stock price compared to GMs. Ford would have gone under if the other two did because of the parts supply chains not having enough orders to stay afloat. Barry could have recouped the rest of the loan but the CEOs wanted out of the deal because of continuing anger about the bailout....it cost them thousands of sales thanks to how Fox and the WSJ spun it. Still the $10B would have gone to waste in lost income taxes and unemployment benefits not only from autoworkers but small businesses around the auto plants. It's a wash in dollars and we have a million workers keeping their job. That's a pretty good deal all around.

LOL, do you think there would be no demand for cars if GM and chrysler crashed? the supply chain would have been just fine.

you live in a fairy tale. you must be a union member.

 

[rdean]

Republicans tossed 9 billion in one day and didn't save a single job.

That's pallets of US currency arriving and disapearing in Iraq.

Then there is the recent 24 billion the GOP lost shutting down the economy.

At least when Democrats lose money, they get something in return.

Somehow Republicans always forget about the enormous waste they cause. Double or triple anything Democrats do.