Well, It looks like the government won't help GM

[USAFJeeper]

Slave labor? Your kidding right? Like the plants in Alabama and Tennessee?

[Justin]

http://www.inthesetimes.com/article/3796/

[The_Blur]

Originally Posted by USAFJeeper

Whats the difference? Both are privately owned companies that affect people beyond their own business. Each has suppliers, advertising costs and so on. Why not bail out Bob the Turf Man too? There are a lot more Bobs out there.

Someone above was beating on ********* for not supporting it. I am conservative I don't support ANY of it.

Small companies don't employ as many people and therefore won't bring down the company if a couple of them fail. It's very fundamental. More people losing their jobs at once means more influence on the market. It's a sad truth. I think that small companies should be part of the bailout, too. I don't want to come off the wrong way. I'm just saying that GM is a bigger economic hit if it fails.

[Justin]

Honestly, I'm more a fan of low-interest loan packages, but it's just irritating that everyone is shoving the blame on the auto-makers. Sure, they're not innocent, but don't sit there and pretend that all of their problems are their fault, and Lehman Brothers, etc. are all lovely little companies that can do no wrong.

[USAFJeeper]

Originally Posted by Justin

http://www.inthesetimes.com/article/3796/

Paul Abowd lives in Detroit, where he writes for Labor Notes. His work has appeared in Z Magazine, Monthly Review WebZine, and The Electronic Intifada.

Not a good source.

[Evotion]

I'm assuming this article is what started the thread... IT'S A COMMENTARY!!!


http://www.cnn.com/2008/POLITICS/11/...uto/index.html

[Justin]

Originally Posted by USAFJeeper

Paul Abowd lives in Detroit, where he writes for Labor Notes. His work has appeared in Z Magazine, Monthly Review WebZine, and The Electronic Intifada.

Not a good source.

He's literally summarizing National Labor Committee's report...

http://www.nlcnet.org/article.php?id=562

[2SSRS@Gen5diy]

Bailing out GM is bad, BAD BAD.

See below

Gm need to Reorganize stop the bleeding of $$$$$$$$$$$$$$$$$$$$$$$$$.$$
GM shod renegotiate the Contract with UAW on health care and retirement plans, as well As if Gm needs to slow Down a plant, As for bank loans banks are loaning, If you Qualify for the loan, we Sold two homes this week and the bank is making the loans, To the costumers for land and homes, But you need %20 down no more $ 0 down.


Chapter 11, Title 11, United States Code

Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to any business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, while Chapter 13 provides a reorganization process for the majority of private individuals with unsecured debts of less than $336,900.00 and secured debts of less than $1,010,650.00 as of April 1, 2007.

[undeadswamp]

Originally Posted by xl1200r

Kanak -

But think of this...

GM is losing appx $2.5 billion a month right now. That averages out to $30 billion a year.

2010 comes, and the healthcare stuff moves to that trust fund, and GM unloads a $50 billion a year expense. Now, overnight, they're making $1.6 billion a month without changing anything.

GM needs to make to 2010.

According to GM's recent conference call they will run out of cash some time next year, and will not make it to 2010 without help. So, unless the gov't does something GM will have to file for ch.11 before they can escape that obligation.

[bobscogin]

Originally Posted by nickspohn

They're saying the republicans aren't on board with the idea of bailing out the auto makers...

I wouldn't expect them to be. Republican Party ideology generally holds that businesses in a free market should rise and/or fall on their own, with minimal government intervention. The Democratic Party on the other hand, has much to gain by buying a stake in the auto game. First, by sustaining the jobs of UAW members, they strengthen and confirm their support of the Union and curry favor with the membership. Second, they can use the funding to strong arm GM into building what they believe we need, complete with their mandates on CAFE ratings, and emissions and safety regs. Under that scenario, do I need to tell you that our beloved Camaro would not be what the dems would allow us to drive? Bush may not support a funding package, but you can bet that Obama will.


Bob

[fireresq157]

I want GM to survive one way or another but maybe this isn't a bad thing , I'm a Union member and so is my wife. Not all Unions and Unions are bad . I'm a firefighter/paramedic and she's a school teacher in south Florida. Most auto line workers make 2 to 3 times what I make and 4 to 5 times what she does. I have a 2 year degree and several state certifications/licenses that all told took/take 4 years to attain, she had a 4 year degree and is currently working on her masters. Most if not all autoworkers need no formal education don't risk their lives on fires and highways, shootings and stabbings on a daily bases, or are in charge of 30 young kids life and education, safety. Yet they have unbelievable benefits and pay for today's even yesterdays or tomorrow's market. Don't get me wrong I know executives give themselves way tooooooo much pay and bonuses come on do you really need 12 20 million dollar bonuses on top of million dollar salaries and stock options. Especially for running the company this close to the brink of bankruptcy? Both sides need to make big concessions. Bankruptcies negate contracts with unions and salaries and can renegotiate them the problem with bankruptcy is no one buys your product for fear of no warranty. Heck their recent announcements hurts GM more than helps. Now all that being said the administartion would need to make large huge gigantic consesions to satisfy me. Another thing GM needs to hit up Canada and Mexico for help too especialy since they've take alot of GM jobs, we should not be paying a tax payers to save Canadian or Mexican Jobs even if it means no Camaro(sadly) Fair is Fair. They need to help out too.

[patriotpa]

Originally Posted by Evotion

http://www.cnn.com/2008/POLITICS/11/...uto/index.html

P O L I T I C S

[FenwickHockey65]

Originally Posted by USAFJeeper

Whats the difference? Both are privately owned companies that affect people beyond their own business. Each has suppliers, advertising costs and so on. Why not bail out Bob the Turf Man too? There are a lot more Bobs out there.

Someone above was beating on ********* for not supporting it. I am conservative I don't support ANY of it.

Bob the Turf Man has a couple suppliers providing lawncare products. His business is strictly limited to a specific region in a specific state.

General Motors has hundreds of suppliers providing parts, raw materials, tires, plastic, metal, aluminum, glass, carbon fiber, electronic components and also has other automakers such as Ford, Chrysler, toyota, and even BMW relying on parts derived from GM. GM's business is global, selling cars around the world and supplying parts around the world.

Big difference. If Bob the Turf Man goes bankrupt, a few people are affected.

If GM goes under, millions of people are affected, not to mention the loss of a major industrial giant, the loss of industrial infrastructure, and the loss of products exported from the US.

I am perhaps the most conservative person you'll ever meet. Yet I support government help.

AND FOR THE LAST TIME, GM IS NOT, I REPEAT, NOT LOOKING FOR A BAILOUT. THEY SIMPLY WANT A LOAN. GET THAT INTO YOUR HEADS.

[camaros and vettes]

Originally Posted by USAFJeeper

Bailing out private industry is bad. Do you really want Democrats to own GM? I am against a bailout for anyone. I pay my bills, I save money, I have excellent credit. Why in the hell are my tax dollars going to bail out anyone.

I have a buddy whose lawn care business is going tits up, perhaps he should apply for a bailout as well. Another one had his wife go back to work till they get over this hump. It is bullshit to bail out private companies that kept making SUVs long after the writing was on the wall. I want a Camaro real bad, but I am not going to be ok with bailouts until my 1500 dollar monthly house note is covered by The Anointed One.

they keep making the big suv's because people who have money and good credit like to show them off and act high and mighty. they make more to meet the demand, just like any company!!


The big three are not the only ones feeling the hurt in this right know, so i do not see them buying out gm ford or dodge