Chevrolet Corvette Stingray C7 Forum - View Single Post - Big 3 Loan Failed to Pass

rmyers · 12-13-2008, 09:20 AM

I must have missed that part of the consititution that says its our right to have a job. It is not the role of government to protect jobs at least not in the way they have been doing lately. The role of government is protect the nation, and provide for infrastructure necessary to facilitate a free market and flow of goods and services. I sure can blame the business model and management practices of GM and the UAW for not having the foresight to see that what they were doing wasn't profitable. How many years do you have to lose money before you realize something isn't working. Why couldn't the UAW see that insisting on maintaining these astronomical legacy labor cost was killing the Goose and eventually there would be no more golden eggs.

As for the issue of States giving grants to manufacturers to open plants, that is not even close to the same thing here. The reason is, if a state gives Honda 300 million dollar grant to open a new factory, that will in turn infuse income into the economy, from payroll taxes, property taxes, etc. So it really is a long term investment. If the Fed gives the Big 3 25 Billion dollars, they are getting anything new out of the deal. They won't build new plants and hire thousands of new employees. This will simply keep them afloat for a few more months until they come back to Washington asking for more.

Protectionist practices are wrong, regardless of what side of the ocean they take place. If the Japanese are dominating the market here it is ultimately because the American people are buying their products. And to make matters worst, I suggest a demonstration. I would invite anyone who lives close to an American Car Mfg plant to drive by and count the number of foreign made vehicles in the parking lot. What does that tell you? I can assure you, if I worked for GM, and counted on them for my financial well being, there is no way I would go to work in anything but a GM vehicle. Case in point, when i visited the Corvette factory in Bowling Green, there were 3 parking lots. Front of building was for Corvettes, or XLR's regardless of year, or regardless of your rank in company. First come first serve. The second closest parking lot was for employees with GM vehicles, and the one farthest away was for non-GM vehicles.

I have been consistent in my opinion against the bailout for banks and the big 3 loan. In both cases it was not the role of Government.

Edited to add: I just read in the newsaper that GM has 432,000 retired employees collecting retirement benefits. How many active employees do they have?

PS. Your comments were not personal at all and as you mentioned serve to foster a good solid debate of ideas. For that I thank you.

Here are some pictures of my personal infusion of capital to GM which by the way only represents 1 of the 2 vehicles I purchased that day. However, somehow I don't think we need to see a white cargo van.

12-13-2008, 09:20 AM	#103
rmyers Drives: Both American Made Join Date: Feb 2008 Location: Texas Posts: 781	I must have missed that part of the consititution that says its our right to have a job. It is not the role of government to protect jobs at least not in the way they have been doing lately. The role of government is protect the nation, and provide for infrastructure necessary to facilitate a free market and flow of goods and services. I sure can blame the business model and management practices of GM and the UAW for not having the foresight to see that what they were doing wasn't profitable. How many years do you have to lose money before you realize something isn't working. Why couldn't the UAW see that insisting on maintaining these astronomical legacy labor cost was killing the Goose and eventually there would be no more golden eggs. As for the issue of States giving grants to manufacturers to open plants, that is not even close to the same thing here. The reason is, if a state gives Honda 300 million dollar grant to open a new factory, that will in turn infuse income into the economy, from payroll taxes, property taxes, etc. So it really is a long term investment. If the Fed gives the Big 3 25 Billion dollars, they are getting anything new out of the deal. They won't build new plants and hire thousands of new employees. This will simply keep them afloat for a few more months until they come back to Washington asking for more. Protectionist practices are wrong, regardless of what side of the ocean they take place. If the Japanese are dominating the market here it is ultimately because the American people are buying their products. And to make matters worst, I suggest a demonstration. I would invite anyone who lives close to an American Car Mfg plant to drive by and count the number of foreign made vehicles in the parking lot. What does that tell you? I can assure you, if I worked for GM, and counted on them for my financial well being, there is no way I would go to work in anything but a GM vehicle. Case in point, when i visited the Corvette factory in Bowling Green, there were 3 parking lots. Front of building was for Corvettes, or XLR's regardless of year, or regardless of your rank in company. First come first serve. The second closest parking lot was for employees with GM vehicles, and the one farthest away was for non-GM vehicles. I have been consistent in my opinion against the bailout for banks and the big 3 loan. In both cases it was not the role of Government. Edited to add: I just read in the newsaper that GM has 432,000 retired employees collecting retirement benefits. How many active employees do they have? PS. Your comments were not personal at all and as you mentioned serve to foster a good solid debate of ideas. For that I thank you. Here are some pictures of my personal infusion of capital to GM which by the way only represents 1 of the 2 vehicles I purchased that day. However, somehow I don't think we need to see a white cargo van. Last edited by rmyers; 12-13-2008 at 09:45 AM.