Big 3 Loan Failed to Pass - Congress voting...Not promising.

edog · 12-11-2008, 09:34 PM

Congress is about to vote. They are doing their speeches before the vote. They are all saying they could not come up with an agreement due to the UAW not wanting to give a specific date when they can bring wages down to those of the southern auto market.

:(

Turn to cnn.com/live

They are trying to change minds before the vote goes in. Cross your fingers!

*The_Blur* · 12-11-2008, 09:37 PM

Until now, I couldn't bring myself to directly blame the UAW because they had already agreed to reducing wages before this disaster.

That was before this nonsense. :bangdesk:

edog · 12-11-2008, 09:40 PM

I guess they have a better way of getting paid when bankruptcy comes into effect! Dumb#@$ UAW!

I am republican, but I will be looking at my beliefs in the political system going forward. No more politics voiced from me on this thread.

Eighty-Six Z · 12-11-2008, 09:45 PM

You would think that the UAW would not want to be the ones that led to it not passing. A Big Three bankruptcy would give them the abilityto get away from the union completely.

CDBiker220 · 12-11-2008, 09:47 PM

Senate negotiations on bailout break down
News of a deal gave way to impasse; sticking point was union wage cuts

http://www.msnbc.msn.com/id/28166218/

The bailout just fell through....

"A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts."

"I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."

They said they are still trying to make progress on getting automakers back on track....but i guess this particular deal isnt going through due to the union not willing to make any contract changes

Legend · 12-11-2008, 09:47 PM

While we may not like it...bankruptcy may be the best thing for them! Get out from under the UAW!

I would have worked with anyone had I been the UAW...now they stand the chance to lose everything!

edog · 12-11-2008, 09:49 PM

I wonder if the UAW could be sued due to gross negligence by the retirees or the unemployed if GM goes bankrupt and all the employees lose the benefits they pay for.

Montrose · 12-11-2008, 09:53 PM

so the uaw would rather get nothing than giving in to lower wages yea that makes since cut off your nose to spite your face. Montrose

Legend · 12-11-2008, 09:53 PM

I was thinking the reason the UAW didn't budge was they plan to sue the Big 3 for failing to honor the contract?

Maybe the retirees will sue the UAW...

I see a long line of people being sued after this all shakes out!

Inspector 17 · 12-11-2008, 09:54 PM

Quote:

Originally Posted by I am Legend

While we may not like it...bankruptcy may be the best thing for them! Get out from under the UAW!

I would have worked with anyone had I been the UAW...now they stand the chance to lose everything!

Greed is a powerful motivator. At this point, we can only hope that the bankruptcy goes smoothly and customers don't go running like wild the other direction. The parts suppliers also have to be strong and not abandon GM.

Inspector 17 · 12-11-2008, 09:56 PM

Quote:

Originally Posted by I am Legend

I was thinking the reason the UAW didn't budge was they plan to sue the Big 3 for failing to honor the contract?

Maybe the retirees will sue the UAW...

I see a long line of people being sued after this all shakes out!

If they are in bankruptcy, the UAW and the retirees won't get jack. They get what the deserve. I hope that retirees sue the UAW.

edog · 12-11-2008, 09:56 PM

Quote:

Originally Posted by I am Legend

I was thinking the reason the UAW didn't budge was they plan to sue the Big 3 for failing to honor the contract?

Maybe the retirees will sue the UAW...

I see a long line of people being sued after this all shakes out!

I believe when you go into Bankruptcy you are protected under the courts. They cannot be sued.

If I am incorrect let me know.

*The_Blur* · 12-11-2008, 09:57 PM

This failure will crash the market tomorrow. We're looking at the worst possible situation here—no Detroit automakers, economic meltdown for Western democracies, possible Greater Depression, US federal budget shrinking for future years.

Inspector 17 · 12-11-2008, 09:59 PM

Quote:

Originally Posted by The_Blur

This failure will crash the market tomorrow. We're looking at the worst possible situation here—no Detroit automakers, economic meltdown for Western democracies, possible Greater Depression, US federal budget shrinking for future years.

Auntie Em, Auntie Em!

12-11-2008, 09:34 PM	#1
edog Drives: 2010 2SS/RS IOM Join Date: Oct 2008 Location: F'BURG VA Posts: 3,828 View My Garage	Big 3 Loan Failed to Pass - Congress voting...Not promising. Congress is about to vote. They are doing their speeches before the vote. They are all saying they could not come up with an agreement due to the UAW not wanting to give a specific date when they can bring wages down to those of the southern auto market. :( Turn to cnn.com/live They are trying to change minds before the vote goes in. Cross your fingers! __________________ Update...Build in process, Forged Rods, Pistons and rings, Johnson Lifters, NOVI1500 ECS SC, 13lb boost or more, LS3 Conversion 114/228/241 COMP CAM, Frostbite 4 row Aluminum radiator, 6L80 built, Circle D 6L80 PRO SERIES MULTI 258MM 2D, Stock 3.45 gears, 1-7/8 American Racing Headers w/HF cat, X-Pipe, Lingenfelter dual fuel pump, E-85 flex sensor, ATI super damper pulley, Ported TB, 160 therm, Trans cooler, Pedder's sways/end links/sub frame bushings, BMR trailing arms & toe rods, Coil overs. HP/TQ pending

12-11-2008, 09:37 PM	#2
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,769	Until now, I couldn't bring myself to directly blame the UAW because they had already agreed to reducing wages before this disaster. That was before this nonsense. :bangdesk: __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

12-11-2008, 09:40 PM	#3
edog Drives: 2010 2SS/RS IOM Join Date: Oct 2008 Location: F'BURG VA Posts: 3,828 View My Garage	I guess they have a better way of getting paid when bankruptcy comes into effect! Dumb#@$ UAW! I am republican, but I will be looking at my beliefs in the political system going forward. No more politics voiced from me on this thread. __________________ Update...Build in process, Forged Rods, Pistons and rings, Johnson Lifters, NOVI1500 ECS SC, 13lb boost or more, LS3 Conversion 114/228/241 COMP CAM, Frostbite 4 row Aluminum radiator, 6L80 built, Circle D 6L80 PRO SERIES MULTI 258MM 2D, Stock 3.45 gears, 1-7/8 American Racing Headers w/HF cat, X-Pipe, Lingenfelter dual fuel pump, E-85 flex sensor, ATI super damper pulley, Ported TB, 160 therm, Trans cooler, Pedder's sways/end links/sub frame bushings, BMR trailing arms & toe rods, Coil overs. HP/TQ pending

12-11-2008, 09:49 PM	#7
edog Drives: 2010 2SS/RS IOM Join Date: Oct 2008 Location: F'BURG VA Posts: 3,828 View My Garage	I wonder if the UAW could be sued due to gross negligence by the retirees or the unemployed if GM goes bankrupt and all the employees lose the benefits they pay for. __________________ Update...Build in process, Forged Rods, Pistons and rings, Johnson Lifters, NOVI1500 ECS SC, 13lb boost or more, LS3 Conversion 114/228/241 COMP CAM, Frostbite 4 row Aluminum radiator, 6L80 built, Circle D 6L80 PRO SERIES MULTI 258MM 2D, Stock 3.45 gears, 1-7/8 American Racing Headers w/HF cat, X-Pipe, Lingenfelter dual fuel pump, E-85 flex sensor, ATI super damper pulley, Ported TB, 160 therm, Trans cooler, Pedder's sways/end links/sub frame bushings, BMR trailing arms & toe rods, Coil overs. HP/TQ pending

12-11-2008, 09:53 PM	#8
Montrose USN CPO Drives: 08 Titan,2103 Challenger 392 SRT-8 Join Date: Nov 2008 Location: Cherry Point, NC Posts: 89 View My Garage	so the uaw would rather get nothing than giving in to lower wages yea that makes since cut off your nose to spite your face. Montrose __________________ 2013 Challenger SRT8, Auto, PCP. mods, Diablo Sport Trinity T1000, AAD catch can, Mopar strut brace, MBRP S7102304 cat-back, MM 85mm TB. 08 Titan PRO4X Gray.

12-11-2008, 09:45 PM	#4
Eighty-Six Z 2G1FK1EJ0A9109635 Drives: '10 CGM Camaro SS/RS Join Date: Sep 2008 Location: Texas Posts: 281	You would think that the UAW would not want to be the ones that led to it not passing. A Big Three bankruptcy would give them the abilityto get away from the union completely.

12-11-2008, 09:47 PM	#5
CDBiker220 Drives: 98 camaro z28 Join Date: Oct 2008 Location: pittsburgh, pa Posts: 189	Senate negotiations on bailout break down News of a deal gave way to impasse; sticking point was union wage cuts http://www.msnbc.msn.com/id/28166218/ The bailout just fell through.... "A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts." "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight." They said they are still trying to make progress on getting automakers back on track....but i guess this particular deal isnt going through due to the union not willing to make any contract changes

12-11-2008, 09:47 PM	#6
Legend Hello! Drives: 2008 JSB Z06! Join Date: Oct 2008 Location: Texas Posts: 2,624 View My Garage	While we may not like it...bankruptcy may be the best thing for them! Get out from under the UAW! I would have worked with anyone had I been the UAW...now they stand the chance to lose everything!

12-11-2008, 09:57 PM	#13
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,769	This failure will crash the market tomorrow. We're looking at the worst possible situation here—no Detroit automakers, economic meltdown for Western democracies, possible Greater Depression, US federal budget shrinking for future years. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

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