Tweet
$50 billion subsidized loan package for big 3 working its way through Congress.
-
$50 billion subsidized loan package for big 3 working its way through Congress.Try http://wordforge.net/index.php for discussion and debate. -
Tiss the season of bailouts and Uncle Sugar is giving away bags of taxpayer money. Big 3 get $25 billion.
Try http://wordforge.net/index.php for discussion and debate.Comment
-
That's not guaranteed. It only was in the House version of the continuing resolution. Assuming that it's not in the Senate version, they will go to conference to negotiate the provision.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
-
Isn't this all just skirting the real issue?
JMJon Miller-
I AM.CANADIAN
GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.Comment
-
Well, in the end, the car companies got $25 billion from Uncle Sam -- it was in the final version of the continuing resolution -- but it won't be enough for these companies on death's door.
Despite the loans, the companies are trading at levels not seen since the Great Depression. GM is trying to take over Chrysler, but can't scrape up enough cash to close all of the plants that need to be closed. Why GM and Chrysler think it's a good time to do a deal is beyond me.
Time to kill these companies.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
-
I'm with Dan on this one. The handout will only delay the inevitable, and as such is a waste of money.
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
-
What happens to all the employee pensions when GM goes under?Long time member @ Apolyton
Civilization player since the dawn of timeComment
-
Those are taken care of by the pension funds. If the pension funds are under water, a portion of the pension payments will be made by the federal government from insurance money collected from all companies with pensions.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
-
I watched a program once about airline employees who got their pensions cut in half when their airline went under, but I don't recall much more about it. Thanks for the answer DanS.Long time member @ Apolyton
Civilization player since the dawn of timeComment
-
Naw, they're of vital national interest. We must maintain a manufacturing sector and the French have shown how it can be done while DanS's Thatcherite methods show the worst possible outcome. The nation must have a viable high end manufacturing base in order to stay a viable world power and auto companies are the crown jewels. Reorganize them, bring in new management, junk the union contracts, and bridge them over to a new generation.Originally posted by Arrian
I'm with Dan on this one. The handout will only delay the inevitable, and as such is a waste of money.
-Arrian
My personal preference is to nationalize them before they fail, reorganize them into about four companies with global reach, pay for a whole new generation of cars, and then reprivatize them. Republicans are not up to this task but thankfully Democrats will soon be in charge and these crown jewels can be saved for the nation's future industrial needs.Try http://wordforge.net/index.php for discussion and debate.Comment
-
Those pension funds were seriously underfunded. As far as I understand, the pensions for at least the carmakers are well funded. Don't know about the pensions for all of the car parts makers.Originally posted by Lancer
I watched a program once about airline employees who got their pensions cut in half when their airline went under, but I don't recall much more about it. Thanks for the answer DanS.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
-
Seriously, you are arguing that the US should follow France's model?
How many people here own a car made in France? Anybody?Scouse Git (2) La Fayette Adam Smith Solomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!Comment
-
Italy, Spain, and South Korea did the same thing. Notice how they still have healthy auto sectors and the UK doesn't? That's the only real difference.
I supposed you think Volkswagen is a horrible company too since it is minority state owned. What about Volvo which used to be partially owned by the Swedish government? The truth is government over sight is a good way to reform key national assets. The government would have the power to change the pension systems, the health care obligations, and the union contracts all of which combine to cause most of the current troubles US auto makers are facing.Last edited by Dinner; October 20, 2008, 20:07.Try http://wordforge.net/index.php for discussion and debate.Comment
-
I agree with Oerdin's way of looking at the big 3, but then again we have enough people from the Maritimes here already. We don't have room for all of them (yet) and don't need half of Southern Ontario riding West on Greyhound.
I kid, sortta.(\__/)
(='.'=)
(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
-
French car here
Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama"Comment
Comment