groosome

If Cars Are the Problem, They Can Also Be the Solution

Where is the concern for all the people that will be put out of work or retiree's who will lose their retirement income , How come nobody ever mentions them including the new president. How come you say nothing about the est. $2Trillion given to Wall Street whoise greed and creative and flawed business practices started all of this.

On Dec 16 11:21 AM k9s-4-k8 wrote:

> Much to comment on.
>
> Jim Kingsdale says:
> "......pay a cash rebate to buyers of super-acceptable models that
> are produced (assembled, at least) in the U.S."
>
> This is a typical protectionist proposal I expect to hear from the
> UAW and the Democrat majority in Congress. Cash rebates paid only
> on U.S. built vehicles bypasses international trade laws.
>
>
> Jim Kingsdale says:
> "A “bridge” loan will still be needed by GM to get them through their
> current negative cash flow operating structure. But it will be made
> with the realistic potential of paying off in the future."
>
> The only realistic terms for GM to be relieved of this debt is for
> the U.S. taxpayer to convert it into a grant, or convert it into
> equity which will perform only a bit better than a grant.
>
> Jim Kingsdale says:
> "Moreover, the government should get options on a huge part of the
> equity in GM, thus potentially getting the taxpayers’ money back
> at some point. The company will still need contractual restructuring
> to eliminate legacy costs that now make it uncompetitive. That means
> the bailout funds should come in as part of a pre-packaged restructuring
> that abrogates G.M.’s current legal obligations to its unions, dealers,
> and suppliers."
>
> Either you're suggesting we receive stock in exchange for a $50 billion
> infusion to the UAW,(that's the big 3 deal with the UAW and they
> won't abrogate that deal for anything) or you're just papering over
> one of the major reasons GM will never survive profitably on their
> own without an intravenous drip on taxpayer funds for the remainder
> of this century. Certainly, I don't expect taxpayers will put up
> with that. We will cut our losses after many billions have already
> been flushed on this company.
>
> Jim Kingsdale says:
> "How do we know a government-controlled GM would be smarter than
> the old one? We don’t, but we do know two things. One: new management
> could hardly be dumber than the past management. Two: we’ve just
> elected maybe the smartest President in history - so giving him the
> opportunity to pick the people who will make the GM decisions at
> least provides us with a glimmer of hope. His recent choices for
> leadership positions should give us confidence in his judgement."
>
>
> On the contrary, anyone that thinks they can turn around GM without
> a managed bankruptcy supported with government loans solution, is
> at least as stupid as the former management. As for Barack Obama
> being the smartest President in history? He's not even in the top
> 10. Where do you come up with such crap? Fact of the matter is that
> GM is suffering under the burden of labor expense due to the combination
> of greedy unions and greedy management. Nobody cared a whit about
> shareholders or the long term viability of the company, neither management
> nor the UAW. Automobile manufacturers are beholden to long-term supplier
> contracts and fix costs such as interest on debt for capital investment.
> The unions understand every day they strike costs GM millions. They
> hold tremendous leverage over the company. Management cares about
> year end bonuses. Enough days on strike in any year can dramatically
> curtail profits and leave management with a simple salary and no
> bonus.

If Cars Are the Problem, They Can Also Be the Solution

Lets regulate our industry to death.Since you do not seem to like it. We can just give all our money to the rest of the world because we really don't want anyone working here.
People like you are so far out of touch with reality it scares me. You spout all this garbage like it is going to cure everything without a real plan to do it.

Detroit's Big Three and the Democrats' Economic Illiteracy

The author of this article does not have all the facts. He sole purpose is to bash the unions. He would be happy if all hourly workers made min wage and had no benifits. leaving all that saved money for the execs. How come the Auto Companies were doing ok until the mismanaged banking industry lost more money in one weekend than anybody could imagine. He does not mention that the financial "crisis" took away over 40% of the auto sales -duh- or that it shut down the credit sources that they relied on .
Why did the banking industry write so many loans to people who could not ever repay them, perhaps GREED?