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GM Loses Another $16 Billion -- Bankrupt?

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  • it is just a matter of nullifying union contracts, firing management, and producing cars which are worth a crap
    Simple! All we need is to turn it over to the US government! Clearly.

    -Arrian
    grog 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.

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    • Originally posted by Arrian

      Simple! All we need is to turn it over to the US government! Clearly.

      -Arrian
      Actually it is. If France can do it then I refuse to believe the US is incapable. The reality is the government is the only entity which can bring about the complete change needed by nullifying contracts, providing capital needed for a new model line up, and then reprivitazing. You're personal hang ups don't negate the fact that many countries have successfully done this in the past. I'm thinking of South Korea with Daewoo, Malaysia with Proton, China with Shanghai Automotive Group, France with Peugot & Citroen, etc...
      Try http://wordforge.net/index.php for discussion and debate.

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      • Originally posted by Arrian
        Heh. All about the free market until they fail. Then it's "help me Uncle Sammy!"

        **** you. Die.
        <Reverend> IRC is just multiplayer notepad.
        I like your SNOOPY POSTER! - While you Wait quote.

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        • After reorganization under bankruptcy protection, we'll see what these companies can do.
          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, 1891

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          • Originally posted by DanS
            After reorganization under bankruptcy protection, we'll see what these companies can do.
            Won't happen. They're to big to fail just like the dozens of other bailouts we've seen in recent years.
            Try http://wordforge.net/index.php for discussion and debate.

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            • I don't see any evidence that they're too big to fail. The auto parts suppliers have been through bankruptcy without federal intervention.

              If Michigan wants to bail them out, then they can do so.
              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, 1891

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              • So, Oerdin... you're fine with simply nullifying the contracts, then?

                I agree that the union deals are a major part of the problem, but what you're asking is that the gummint step in and screw the workers out of their sweet deal.

                edit: the sweet deal will have to end, one way or the other. I don't see it being politically viable, however, for the government to kill the deals.

                -Arrian
                grog 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.

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                • Particularly not a Dem-led government in an election year. Perhaps if they can wait until 2009, they could do it... but House reps can't afford ANY political issues like this, and I doubt that would ever pass the House.

                  In any event, like was said earlier, let them die. Plenty of car manufacturers out there, and someone would fill the void pretty quickly in the US. Perhaps someone with a ****ing brain.
                  <Reverend> IRC is just multiplayer notepad.
                  I like your SNOOPY POSTER! - While you Wait quote.

                  Comment


                  • Originally posted by Arrian
                    So, Oerdin... you're fine with simply nullifying the contracts, then?
                    If the government rules them null and void by law then fine, it's a done deal. It worked great in France.

                    Originally posted by Arrian

                    I agree that the union deals are a major part of the problem, but what you're asking is that the gummint step in and screw the workers out of their sweet deal.
                    It's not really any different then Truman forcing Unions to accept the government's terms. The reality is health care costs are at least 50% of the problem and if the US suddenly became sane and had a national system like every other country then that problem would go away and profits would instantly return to most of the old line heavy industry companies. That it just costs less and provides better care is a bonus. Insurance has always worked best given with widest possible pool to share costs over and nothing is a wider pool then every person in a country.
                    Try http://wordforge.net/index.php for discussion and debate.

                    Comment


                    • Let the bankruptcy judge nullify the contracts. Or better yet, why don't management and the unions sit down today and redo their deals? No better time than the present.
                      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, 1891

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                      • You're in lala-land, Dan. The government will never let these companies fail or go bankrupt. If Wall St financial men got a bail out then you had better bet that the companies who form the backbone of the economy for an entire region of the country will get a bailout too.
                        Try http://wordforge.net/index.php for discussion and debate.

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                        • Err, I think Dan is arguing for what should be done, not what will happen.

                          -Arrian
                          grog 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


                          • We'll see. I don't see much appetite for a bailout among the GOP. Bush shot it down once this year already. Or was that last year? Can't remember.
                            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, 1891

                            Comment


                            • The reality is if the government negates the union pensions the Government still guarantees pensions up to $60,000 per year. Is anyone going to cry for Union employees who get $60,000 per year instead of $100,000 per year? All for not working at all? the key part is this moves the pension liabilites off of the big 3's books and on to the Government's books which is where it would end up any way if bankruptcy occurred. This just moves the liability to where it would eventually end up without destroying the industrial capacity. A win for everyone I'd say.
                              Try http://wordforge.net/index.php for discussion and debate.

                              Comment


                              • Originally posted by Oerdin
                                It's not really any different then Truman forcing Unions to accept the government's terms. The reality is health care costs are at least 50% of the problem and if the US suddenly became sane and had a national system like every other country then that problem would go away and profits would instantly return to most of the old line heavy industry companies. That it just costs less and provides better care is a bonus. Insurance has always worked best given with widest possible pool to share costs over and nothing is a wider pool then every person in a country.
                                Unfortunately national health care won't save GM or Ford. The're massive pension liabilities are a bigger problem.
                                I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                                - Justice Brett Kavanaugh

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