Quote:
Originally Posted by CamaroHutch
Hey its a loan, they can do as they please.... not to say there wouldn't be any consequences (No more loans, bad press etc.) Obviously they are not going to do that, but it was a loan.....
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Guys ... the government is taking OWNERSHIP of these companies. This is not like the loans to Chrysler three decades ago.
There's a difference between lending and buying. He's using our money to BUY these companies. He's getting controlling stock.
GM is selling itself to the government and the unions ... on terms dictated by Obama. The last plan I saw in the papers was that 55% of the company was going to be union owned ... another 35% the gov and the rest a tiny proportion of private.
Some future republican admin might decide to sell it's stake but the controlling interest is with the Unions and they will NEVER have an incentive to sell nor can they be forced.
Now when they negotiate their next contract they will be negotiating with themselves.
I think they will get a good deal
