Let GM go Bankrupt

@Cycloptichorn,

Cyclo, That you would use words like "head on" with girdle and Foxie raises questions about what you're thinking.

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@edgarblythe,

I don't think spendi has outright lied, but his posts lack facts, honesty, consistency, and evidence. He relies on classic writers that are all dead, both classical and fiction writers - which he uses in ways that leaves us with more questions than answers.

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Forty days after filing chapter 11, General Motors is out of bankruptcy.

Quote:

The 100 year old business and once the world's largest automaker has been reborn. It's been just six weeks since GM filed for Chapter 11 protection, now the company has been released from its ties to the bankruptcy court. The road to become solvent came with a lot of help from the Obama Administration's Auto Task Force, not to mention a lot of tax payer money.

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After assuring America the federal government wouldn't be making management decisions at GM or Chrysler, Congress prepares to make a management decision at GM and Chrysler

http://www.washingtonpost.com/wp-dyn/content/article/2009/07/14/AR2009071403187.html?fark

So now congress wants to override a management decision by the car companies?
I thought the govt wasnt going to do that.

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@mysteryman,

Obama lied to everyone except the unions.

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@mysteryman,

This just pisses me off.

I cannot begin to express my frustration with Obama and the Democrats in Congress.

Not a lot of reaction to you posting this though, I mean the first pitch thread has been getting a lot more attention even.

1 Reply

@maporsche,

It isn't getting any media attention Maporsche. NBC, CNBC, and MSNBC are all on orders not to report anything critical or compromising re the Obama administration, and ABC, CBS, and CNN are just touching on stuff and not including it in their 'magazine' programs so most people are simply unaware.

But if it's out on the blogs, word does get around.

According to Rasmussen, a substantial majority of the public has been consistently against government ownership of the auto companies and wants the government out of them immediately.

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maybe because it's not worth getting uptight about? so far, the government hasn't done anything but listened to the concerns of the people.

that's what the House of Representatives is there for, right?

at the same time, you guys are ignoring revel's post about gm coming out of bankruptcy. shouldn't that be getting more attention?

1 Reply

@Foxfyre,

Quote:

According to Rasmussen, a substantial majority of the public has been consistently against government ownership of the auto companies and wants the government out of them immediately

I believe that the polling on this is consistent. I figure that such polling is a big part of the reason that team Obama will not save CIT. Word today is that since the gov refused that a buyer will take possession of CIT group, presumably for next to nothing, but at least the taxpayers will not be on the hook.

Obama should not have saved GM and Chrysler, the $100 billion or so spent to save them and their financing arms was money very poorly spent. Not only was the money flushed, but it skews the market place in a bad way.

1 Reply

@hawkeye10,

Also flying pretty much under the radar is GM's plan to start importing their Chinese-built cars as soon as they can get them up to US mandated safety standards and solve a few other problems like product name recognition.

Now I am a free trader and all for free enterprise. But so long as the US taxpayers are on the hook for 61% of General Motors, wouldn't it make more sense to focus on American made cars with American jobs arising out of that instead of Chinese jobs?

1 Reply

@DontTreadOnMe,

How much more attention does it need? Most of America disagrees with the entire process that the government took to get us here, which has been discussed over and over.

GM coming out of BK protection is pretty much a one-liner.

1 Reply

@Foxfyre,

Quote:

But so long as the US taxpayers are on the hook for 61% of General Motors, wouldn't it make more sense to focus on American made cars with American jobs arising out of that instead of Chinese jobs?

Isn't a better question why when the UAW now owns a substantial share of GM is GM looking to ship even more jobs to China?? GM has put the plan on the back burner because of political pressure, but my reading is that this is a tactical move of letting the storm blow over, that in five years if GM is still around a substantial share of production will be in China.

Chrysler on the other hand is looking to build fiats, and I don't expect Americans to buy these tiny cars, but if Fiat America does beat the odds and survives I expect a substantial portion of the the production five years from now to be in Brazil and Mexico.

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@maporsche,

maporsche wrote:

How much more attention does it need? Most of America disagrees with the entire process that the government took to get us here, which has been discussed over and over.

GM coming out of BK protection is pretty much a one-liner.

oh. a one liner... yeah, okay.

and it was the desired outcome. to save a shitload of jobs, thereby hoping to avoid yet one more conduit to a greater recession or depression.

i see... even when we succeed, we fail.

good thinking.

but i expect that "most americans" would disagree a hell of a lot more if they were now standing in lines for some crap soup.

but that's okay. you keep on bitching and complaining about things that have worked and champion the same old crap that got us in trouble.

1 Reply

@DontTreadOnMe,

Are you confusing me with someone else?

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@maporsche,

maporsche wrote:

Are you confusing me with someone else?

I don't think so; I'd say that bitching about the GM deal is something you've been doing a lot of.

Cycloptichorn

1 Reply

@Cycloptichorn,

Cycloptichorn wrote:

maporsche wrote:

Are you confusing me with someone else?

I don't think so; I'd say that bitching about the GM deal is something you've been doing a lot of.

Cycloptichorn

he just was, too. he said he was "pissed off". i took him at his word.

1 Reply

@DontTreadOnMe,

I'm am bitching and complaining about the GM deal....

You said I was bitching and complaining about "things" that have "worked".....I've been bitching about one thing....and I don't think anyone could say that it's worked.

And please specify the "same old crap" that I'm "championing".

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@maporsche,

...or, if you're smart, you'll STFU.

1 Reply

@maporsche,

maporsche wrote:

I'm am bitching and complaining about the GM deal....

You said I was bitching and complaining about "things" that have "worked".....I've been bitching about one thing....and I don't think anyone could say that it's worked.

And please specify the "same old crap" that I'm "championing".

because the fact that they have already emerged from banckruptcy, aka, the GOAL of the bailout, is completely lost on you.

instead you want to piss and moan about "your" tax money being used. for your benefit. so that you don't eventually loose your job and all of your stuff because of the domino effect that will certainly follow if we allow very large manufacturing and sales organizations like gm to fail. that then takes out their suppliers and on down the line.

till it eventually gets to you. no matter what you personally do for a living, if enough people are thrown out of work and have no money to buy anything, eventually it is going to take you out as well.

i've explained that in detail on these threads before. so have others.

it is very simple logic.

1 Reply

@maporsche,

maporsche wrote:

...or, if you're smart, you'll STFU.

or, when all else fails, make a threat across the internet. brilliant.

1 Reply

Let GM go Bankrupt

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