It's OFFICIAL: GM it BANKRUPT and off of DJI.

[icup]

cguy610 wrote:

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Essential1 wrote:

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so what's the conservative take on how we should have handled GM, is it let them fail like we should have the banks? Loser strategy if so.
Conservatives think that it would have been a better idea to let GM, Chrysler, Bank of America, AIG, Citigroup, Wachovia, Countrywide, Bear Stearns, Fannie Mae and Freddie Mac all collapse at the same time.




If Barack Obama said that Santa Claus is real, half of you guys on this board would go along with it. If Obama said that unless you get yourself and three friends to sit on an upside down stole, "the economy will vanish into thin air," there'd be a lot of people walking funny the next day. I could picture his speech.


Seriously though, it is true that some firms are so large and interconnected that a sudden and unpredictable collapse and wave of defaults could have been very problematic. Basically, some firms are so big that it is best that they be liquidated in a somewhat staggered and orderly manner. That is a far cry from essentially declaring dozens of firms "to big to fail," and spending our future away for the satisfaction of knowing these banks will get back on their feet and take the same stupid risks again and since they are too big to fail, need even more money in 2018-19?
No Solution.

 

[thunderchunk69]

Originally Posted by ninjahood

Originally Posted by ThunderChunk69

Originally Posted by ninjahood

they don't have to pick da f-150 just cause..they pick it cuz its one of da best trucks available.

its the best at its purpose,
Chargers,
Magnums,
+Crossfires
serve no purpose, they just have masculine names and marketing schemes

charger's name is obviously from its muscle car roots.

they still serve no purpose
and I think the Cross fire doesn't even fit into any previous car category

just a bulky gas guzzler

 

[sundoobie]

So GM is now officially controlled by the US Govt.

The U.S. government will become the majority owner of GM, with a 60% stake, a move Obama said he made reluctantly to protect an investment of $30.1 billion in additional taxpayer money to get the company through bankruptcy. He vowed that the company would be run by a private board of directors and that the U.S. government would not be involved in day-to-day decisions, such as opening new plants or launching new vehicles

To keep GM afloat as it restructures, the Obama administration will add the $30.1 billion in taxpayer funds to the $20 billion already loaned to the company. In exchange, the U.S. government gets a 60.8% ownership stake.

 

[dbbabd]

So when do we get to buy GM cars for like 9k????????????????

 

[18key]

at these added taxpayer funds going to this company. I'm not paying tohelp keep these companies alive when they dont give a damn about us or anyone that isn't a company official or board member. I'm transferring to aCanadian school next year. Anyone know of a good university in Vancouver or Victoria, B.C.?

 

[icup]

at these added taxpayer funds going to this company. I'm not paying to help keep these companies alive when they dont give a damn about us or anyone that isn't a company official or board member. I'm transferring to a Canadian school next year. Anyone know of a good university in Vancouver or Victoria, B.C.?
Well we could just let the company fail altogether and have tens of thousands of people out of work. Or GM could restructure their business andstart selling cars again.

 

[18key]

Originally Posted by ICUP

at these added taxpayer funds going to this company. I'm not paying to help keep these companies alive when they dont give a damn about us or anyone that isn't a company official or board member. I'm transferring to a Canadian school next year. Anyone know of a good university in Vancouver or Victoria, B.C.?

Well we could just let the company fail altogether and have tens of thousands of people out of work. Or GM could restructure their business and start selling cars again.
You're right, we could let them fail. Or we could set up a better way to save them, than to tax the people who are already struggling to makeends meat.
It's a given they need to restructure how they do business, but even if they do, whats gonna stop them from starting the whole cycle all over? Unions havetoo much power, and it's not like they're gonna accept a lesser deal when GM is back on its feet. GM will bow down again, thanks to the gov't, andin 10 years we'll be right back to this spot.

 

[thunderchunk69]

Originally Posted by ICUP

at these added taxpayer funds going to this company. I'm not paying to help keep these companies alive when they dont give a damn about us or anyone that isn't a company official or board member. I'm transferring to a Canadian school next year. Anyone know of a good university in Vancouver or Victoria, B.C.?

Well we could just let the company fail altogether and have tens of thousands of people out of work. Or GM could restructure their business and start selling cars again.
you started off well, but they were already given a chance

Obama has had MANY great ideas, but I think he should give up on these failing companies and find better job for these people, maybe something helpful ratherthan the opposite.

 

[j burner]

Originally Posted by NostrandAve68

Originally Posted by Emmanuel Goldstein

obama FTL! ... i cant wait till the majority of people start to realize this FACT ... its a damn shame ... smh

Son shut the hell up.... GM was gonna go bankrupt under Bush the only reason the process was delayed was because the economic conditions plus GM failing would have caused panic by the public. Everyone knew GM would file for bankruptcy its just when was the most convenient time to do so, when the economy is collapsing or when the economy is still bad but showing signs of stability.

Sad to see a prestigious company like GM become what it is today, the automotive industry helped to build America's middle class, but hopefully its for the best. I'm proud to say I own American.

Oh the ignorance. GM going bankrupt and its causes are NOT THE ISSUE. THE ISSUE IS THAT THIS ADMINISTRATION HAS NO BUSINESS OR AUTHORITY TAKING A 60% STAKEIN GM!!!! Obama WAS NOT ELECTED TO RUN GM, he has no credentials that qualify him to run an America's auto industry. The government is NOT HERE TOREGULATE the private sector, and to take over failing businesses with tax payer money. PERIOD!!!!

 

[j burner]

I really don't understand what you're so shocked about? i mean, the govt is bailing them out with 30bill, why wouldn't they have control over the company?? Does this not make sense to you?

What don't you understand about free trade and capitalism? You see, here in America, the government is not here to take over and run business. Thats aGIANT step down the path we call socialism. Our government was set up to KEEP ITS HANDS OFF! Get out of the way, and let business do business, if they dobad business, then they go out of business. Period.

And WAAAAY too many of ya'll need a lesson on the UAW. Clueless...absolutely clueless.

 

[icup]

Originally Posted by ICUP

at these added taxpayer funds going to this company. I'm not paying to help keep these companies alive when they dont give a damn about us or anyone that isn't a company official or board member. I'm transferring to a Canadian school next year. Anyone know of a good university in Vancouver or Victoria, B.C.?

Well we could just let the company fail altogether and have tens of thousands of people out of work. Or GM could restructure their business and start selling cars again.
you started off well, but they were already given a chance

Obama has had MANY great ideas, but I think he should give up on these failing companies and find better job for these people, maybe something helpful rather than the opposite.
Like what type of jobs are you talking about that he is going to find tens of thousands people? What industry has tens of thousands of jobvacancies?

Dont worry, I'll wait.

 

[retr0sxual]

Can a NTer get some cliff notes?

I mean for the entire situation (i.e. what's going on and how does it affect the public).

 

[AL Andretti]

Originally Posted by nnarum

Personally, there isn't much GM makes that really appeals to me, besides the Cadillac brand. Of course the Corvette and Camaro with Chevy, but what else is there?

 

[rexanglorum]

retr0sxual wrote:

---

Can a NTer get some cliff notes?

I mean for the entire situation (i.e. what's going on and how does it affect the public).

The very short version is that the government, which is led by President Obama and his Democrat friends, is basically deciding that it wants to own and run twomajor car companies. Because they own Chrysler and GM now, they are having them dedicate a bunch of their production capacity to very small, light weight carsthat get a lot of miles per gallon. The reason for this is because government doesn't care about making a profit, they want to make cars that people in SanFrancisco tend to like.

The way it effects people is that GM and Chrysler are two huge operations and it will take a lot of tax payer dollars to run these huge, unprofitablegovernment owned companies. On top of that, the fact that government just took over two big companies is and will make businesses less likely to expand,investors less likely to want to do business in the US and that means slow or no job creation, smaller cars, higher taxes and a generally lower quality of lifefor most people. To add insult to injury, the government is running a debt so large that they will soon start just printing money to pay for it and that willcause inflation and your money will rapidly lose its value.

 

[j burner]

^^^Well Said.

To all of you complaining about GM not making cars that you want to buy, wait until you see what Obama wants you to drive. The government tried once before totell auto makers how to do business, and gave them production plans for the car the the FEDS came up with, and it was UTTER FAILURE. Not to mention thisadministration is just pulling authority out of their %++$%, no where in our constitution does it give our government or our president this kind of power.

Originally Posted by TheWindScar31


So, what SHOULD the Government do?

Keep its grubby little HANDS OFF, and let our economy correct itself as it has done many times before. GM has filed bankruptcy before, withoutgiving a 60% share to the Federal Government.

 

[The_Isomotion31]

Originally Posted by Rexanglorum

retr0sxual wrote:

---

Can a NTer get some cliff notes?

I mean for the entire situation (i.e. what's going on and how does it affect the public).

The very short version is that the government, which is led by President Obama and his Democrat friends, is basically deciding that it wants to own and run two major car companies. Because they own Chrysler and GM now, they are having them dedicate a bunch of their production capacity to very small, light weight cars that get a lot of miles per gallon. The reason for this is because government doesn't care about making a profit, they want to make cars that people in San Francisco tend to like.

The way it effects people is that GM and Chrysler are two huge operations and it will take a lot of tax payer dollars to run these huge, unprofitable government owned companies. On top of that, the fact that government just took over two big companies is and will make businesses less likely to expand, investors less likely to want to do business in the US and that means slow or no job creation, smaller cars, higher taxes and a generally lower quality of life for most people. To add insult to injury, the government is running a debt so large that they will soon start just printing money to pay for it and that will cause inflation and your money will rapidly lose its value.





So, what SHOULD the Government do?

 

[sir rob a lot]

Quick Question: So is it a good idea to buy a New Car? Or should i buy a used one?

 

[lurkin2long]

Originally Posted by J Burner

Originally Posted by NostrandAve68

Originally Posted by Emmanuel Goldstein

obama FTL! ... i cant wait till the majority of people start to realize this FACT ... its a damn shame ... smh

Son shut the hell up.... GM was gonna go bankrupt under Bush the only reason the process was delayed was because the economic conditions plus GM failing would have caused panic by the public. Everyone knew GM would file for bankruptcy its just when was the most convenient time to do so, when the economy is collapsing or when the economy is still bad but showing signs of stability.

Sad to see a prestigious company like GM become what it is today, the automotive industry helped to build America's middle class, but hopefully its for the best. I'm proud to say I own American.

Oh the ignorance. GM going bankrupt and its causes are NOT THE ISSUE. THE ISSUE IS THAT THIS ADMINISTRATION HAS NO BUSINESS OR AUTHORITY TAKING A 60% STAKE IN GM!!!! Obama WAS NOT ELECTED TO RUN GM, he has no credentials that qualify him to run an America's auto industry. The government is NOT HERE TO REGULATE the private sector, and to take over failing businesses with tax payer money. PERIOD!!!!

J Burner I agree with you 100%

 

[chisoxdavid]

Originally Posted by Sir Rob A Lot

Quick Question: So is it a good idea to buy a New Car? Or should i buy a used one?

Wait a little bit, if GM dealers start to close you will find steals on brand new cars. If you want a car now, I would say buy used because newcars lose value the minute you drive it out the lot. Then again if you are financing buying new might be better because you will most likely get a lowerfinance rating than you would buying a used car.

 

[emmanuel goldstein]

Originally Posted by lurkin2long

Originally Posted by J Burner


Oh the ignorance. GM going bankrupt and its causes are NOT THE ISSUE. THE ISSUE IS THAT THIS ADMINISTRATION HAS NO BUSINESS OR AUTHORITY TAKING A 60% STAKE IN GM!!!! Obama WAS NOT ELECTED TO RUN GM, he has no credentials that qualify him to run an America's auto industry. The government is NOT HERE TO REGULATE the private sector, and to take over failing businesses with tax payer money. PERIOD!!!!

J Burner I agree with you 100%

naw the car czar has it all under control guys ... ... ...

 

[mangudai954]

Originally Posted by TheWindScar31

Originally Posted by Rexanglorum

retr0sxual wrote:

---

Can a NTer get some cliff notes?

I mean for the entire situation (i.e. what's going on and how does it affect the public).

The very short version is that the government, which is led by President Obama and his Democrat friends, is basically deciding that it wants to own and run two major car companies. Because they own Chrysler and GM now, they are having them dedicate a bunch of their production capacity to very small, light weight cars that get a lot of miles per gallon. The reason for this is because government doesn't care about making a profit, they want to make cars that people in San Francisco tend to like.

The way it effects people is that GM and Chrysler are two huge operations and it will take a lot of tax payer dollars to run these huge, unprofitable government owned companies. On top of that, the fact that government just took over two big companies is and will make businesses less likely to expand, investors less likely to want to do business in the US and that means slow or no job creation, smaller cars, higher taxes and a generally lower quality of life for most people. To add insult to injury, the government is running a debt so large that they will soon start just printing money to pay for it and that will cause inflation and your money will rapidly lose its value.

So, what SHOULD the Government do?


Let them fail.

 

[mateen cleaves]

Originally Posted by chisoxdavid

Originally Posted by Sir Rob A Lot

Quick Question: So is it a good idea to buy a New Car? Or should i buy a used one?

Wait a little bit, if GM dealers start to close you will find steals on brand new cars. If you want a car now, I would say buy used because new cars lose value the minute you drive it out the lot. Then again if you are financing buying new might be better because you will most likely get a lower finance rating than you would buying a used car.

No you wont find steals. Car prices will never drop maybe 1 or 2 grand, thats about it.

 

[emmanuel goldstein]

people fail to realize car prices arent going to go down, but rather UP in order to finance the "R&D" as well as new technological implementation... so we are going to be taxed more in order to save a company, just so it can sell us cars with "better" gas mileage at higher prices ... YAY!

 

[jdb1523]

Thanks Barack...keep dumping money into inefficient industries/companies.

 

[sundoobie]

Originally Posted by Mangudai954

Originally Posted by TheWindScar31

Originally Posted by Rexanglorum

retr0sxual wrote:

---

Can a NTer get some cliff notes?

I mean for the entire situation (i.e. what's going on and how does it affect the public).

The very short version is that the government, which is led by President Obama and his Democrat friends, is basically deciding that it wants to own and run two major car companies. Because they own Chrysler and GM now, they are having them dedicate a bunch of their production capacity to very small, light weight cars that get a lot of miles per gallon. The reason for this is because government doesn't care about making a profit, they want to make cars that people in San Francisco tend to like.

The way it effects people is that GM and Chrysler are two huge operations and it will take a lot of tax payer dollars to run these huge, unprofitable government owned companies. On top of that, the fact that government just took over two big companies is and will make businesses less likely to expand, investors less likely to want to do business in the US and that means slow or no job creation, smaller cars, higher taxes and a generally lower quality of life for most people. To add insult to injury, the government is running a debt so large that they will soon start just printing money to pay for it and that will cause inflation and your money will rapidly lose its value.

So, what SHOULD the Government do?

Let them fail.


Obama won't allow 'them' to fail because the UNIONS were Obama's bread and butter during campaign time. Now he is doingeverything in his power to give back to these UNIONS using taxpayer's money. Google "AFL-CIO Obama"

Obama will pick up important cash donations and election worker support from this new AFL-CIO endorsement. AFSCME (American Federation of State, County and Municipal Employees) which represents 1.4 million members, intends to mobilize as many as 40,000 workers for the Obama campaign and spend as much as $50 million dollars in efforts to boost the senator.

http://wizbangblue.com/20...gn-workers-donations.php