rightwinger
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- Aug 4, 2009
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Obama saved the auto companiesUmm Obama nearly tripled the Stock Market, dropped unemployment by five percent, saved the auto companies
You don’t approve?
bailing out GM and Chrysler with our tax money was done to save the UAW, not the car companies. democrats think they can only win if they have the votes of organized labor.
if the car companies had been forced to go through a structured bankruptcy they would have been broken down into smaller more efficient units and each new company would have had to have a union representation vote------the dems and the UAW could not risk that, hence the buy out.
That is what happened.
He demanded restructuring, closed unsuccessful brands, forced labor to take a pay cut
Many small brands does not work in the auto industry. That is why we have so few
He saved the UAW, because the dems believed that they could not win without union votes. The election of 2016 proved them wrong,
it would not have been " many small brands" maybe two in GM and two or three in Chrysler. the taxpayers would have saved billions, the companies would have been stronger, the supplier base would be stronger, but the UAW might have lost some members (and their dues). Thats what the bail out was all about.
Auto workers had to accept a major pay cut under the buy out......doesn’t sound like UAW benefitted
GM stock had dropped to 75 cents a share. Couldn’t drop much further
yes, obozo's deal ended up screwing the workers and the shareholders.
Shareholders saw their stock rise from 75 cents to over $30 a share