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damn, I pretty much agree with that crazy fool MM.
Except the part about killing the car completely...
But yes, Flint is a sad sad place.
It pretty much mirrors what I had been thinking since the downward spiral of GM, convert those factories...
I was thinking a smaller, green car.. but the bullet trains, oh hell yea!
DO WANT.
This is the voice from planet love. Have no fear we are your friends. To bring peace and love to your world, we are sending you our very special agent. Her name is love love love...
Thats what the old fart was suggesting in zeitgeist...
As I said before americans as a whole have forgotten that that the political/economical system is supposed to work for the people not the other way around. What good is the idea of capitalism free for all when its unrealistic and takes such a huge toll in human misery. A hybrid is needed...as both ends of the spectrum are flawed on their own.
TheIdiotsAREWinning.
"Whenever you find yourself on the side of the majority, it's time to pause and reflect."
Mark Twain
I still can't believe GM filed for bankruptcy and the government took ownership again of a large entity. Whether we mean to or not, we are moving toward a socialism government.
Never interrupt your enemy when he's making a mistake - Napoleon Bonaparte
I still can't believe GM filed for bankruptcy and the government took ownership again of a large entity. Whether we mean to or not, we are moving toward a socialism government.
I would have preferred the company to re-organize itself without the government bailouts. We've given GM billions of dollars and they still ended up filing bankruptcy. The government, the management of GM and the labor unions all failed. Throwing money at a bad business is throwing money away.
Never interrupt your enemy when he's making a mistake - Napoleon Bonaparte
It all comes down to an evaluation of profitability...the government must think that by turning the business around they can make it profitable otherwise they would have not bought it. Anyway its cheaper for the US government to buy it once it files for bankruptcy than when its healthy.
In addition it could potentially be argued that the US has a strategic interest for G to survive-both employment/economical as well as technological i.e. they can use the experts that work there for development of new technologies that will make the US a better place for an average citizen.
TheIdiotsAREWinning.
"Whenever you find yourself on the side of the majority, it's time to pause and reflect."
Mark Twain
My take is this: Let economics work and liquidate the company now. The one thing nobody is discussing in this thread is the attack on the integrity of the law. I think we can expect some pushback from the judiciary, because the executive is taking their power. When a business goes bad, the role of government is “referee” and the judiciary is the responsible branch. It is appalling to see the rule of law so arrogantly discarded by the executive branch (and it started many administrations ago. Obama is only the most frightening manifestation so far).
AIG got hell for paying the people who allegedly ruined the company. Now, it’s GM and the UAW gets the biggest share, to which they are not entitled. Unlike the AIG investors (many of whom are pensioners), the President insists that we can’t let the UAW pensioners suffer. BUT: the UAW people sitting back & collecting those pensions are the people who did ruin GM. To my ears the difference in treatment of the two companies has a name and the name is spelled a-r-b-i-t-r-a-r-y- and -c-a-p-r-i-c-i-o-u-s (the very essence of). The bankruptcy system has been prostituted to serve the crooked purposes of an administration more interested in payback to labor unions, than in prudent economic policy. The law of contracts and bankruptcy were not followed here, and unethical (if not illegal) pressure has been placed on senior creditors to accept less than the UAW. This is a sweetheart deal for the union which will cause the loss of many billions more in taxpayer dollars for the benefit of the unions and their members which will pocket the money as the company goes through an extended and rather brutal death over the next few years.
“Only those who attempt the absurd...will achieve the impossible. I think...I think it's in my basement... Let me go upstairs and check.” - MC Escher
Many of you are new to this blog since I wrote extensively about autos six weeks ago. As background, I coordinated the auto loan process for President Bush last fall as the Director of the White House National Economic Council (the position now held by Dr. Lawrence Summers). I wrote a series of posts on
TheIdiotsAREWinning.
"Whenever you find yourself on the side of the majority, it's time to pause and reflect."
Mark Twain
It all comes down to an evaluation of profitability...the government must think that by turning the business around they can make it profitable otherwise they would have not bought it. Anyway its cheaper for the US government to buy it once it files for bankruptcy than when its healthy.
So...I'm not quite following. Where in the US constitution does it say the federal government is to evaluate the profitability of a business and decide to do a leveraged buyout?
If this is what people want from now on, not sure I want to stay here. Problem is, no where else to go.
i fucking hate the unions; the concept of a union is noble, but the way they've been conducted them in our country has been an utter betrayal to humanity.
I can't really see how the Government think they will turn it around. For the company to survive thay will have to change their whole operation, from Designing and building models that customers want. Implementing loads of redevelopment and changing the mind set of the employees. Its very hard to compete against other manufacturers that have a stronger reputation and are a lot more competitive in the market.
^ oh really? of course. evidently they've done a shitty job conducting in the past; american auto has failed since the ending of the golden era, because they've relied solely (and horded) on petrol for designated production. that era peaked, and should've been over with in the 1950's... they deserve this. i'm just waiting on the government's plan on execution, and observing with precision on how they'll manage this shitstorm.
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