GM bankrupt close 12 plants / obama 30 billion bail out for gm
Jun 2, 2009 | 04:12 PM
#41
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From: houston, tx
Jun 2, 2009 | 07:54 PM
#42
where do you guys get your info. last thing i read was obama wanted nothing in running gm. just help them get back on their feet. thats what i understood and still do... some of you guys are hearing things or just stating crap. some of yall also make it seem like obama made gm go under and all this is his plan to take over gm.? 
Jun 2, 2009 | 08:59 PM
#43
Originally Posted by Money Week Magazine May 18, 2006
...In America, some large corporations face bankruptcy because of their pension fund liabilities – in the case of General Motors these are three times the value of its shares. Congress is currently hammering out a new law to force companies to fund their pension promises and pay more in premiums to the Pension Benefit Guaranty Corporation, which has a $23 billion deficit.
$23 Billion deficit in 2006. $30 Billion Obama loan in 2009.
Originally Posted by Brookings.edu May 29, 2009
GM has made pension promises costing approximately $100 billion in today’s dollars. Unfortunately, the investments in its pension funds are worth about $20 billion less than the obligations, according to the Pension Benefit Guaranty Corporation (PBGC).
I don't have answers, and I can't imagine telling 266,000 people to go home because they no longer have jobs....but that won't happen on that large of a scale IMO. I can't stop thinking that I could certainly find a better place in our country right now to spend 30 billion and make it count. If not me at least a couple NON-party related economists.
Jun 3, 2009 | 06:55 AM
#44
GM and the union's made their bed, now they must lie in it. Sorry to those that are, or will lose their jobs, but you have to know that if you chose to work for a company, a contractor or sub-contractor that has been going under for 20 years, the gig won't last forever.
GM (and the other big 2 also) were too busy paying attention to the union's needs and not the CONSUMER! And during that time the consumer was being paid attention to, by the IMPORTS. And like any big US company, GM, Ford and Chrysler were slow to change and were way behind the curve and realibility, consumer needs and technology, which is why they are, where they are.
As for the government, I read an article the other day about the person who's been tasked BY OBAMA to right the GM ship. This guy is a GOVERNMENT EMPLOYEE. Now here's the part that worries me, the Obama administration had a plan in place for US auto industry BEFORE HE EVEN WAS ELECTED! This has been the plan since day one.
That scares me. Obama hasn't taken down the largest industy in the US, but he helped perpetuate (sp) it's demise. He planned it and it's playing out the way he wanted it to.
Having the government the primary share holder worries me, and if GM can find a way to rectify that, they will come out a better, stronger, leaner company. The thing is, the US auto industry HAS caught up to Toyota and Honda. They are making better vehicles, more consumer driven.
GM (and the other big 2 also) were too busy paying attention to the union's needs and not the CONSUMER! And during that time the consumer was being paid attention to, by the IMPORTS. And like any big US company, GM, Ford and Chrysler were slow to change and were way behind the curve and realibility, consumer needs and technology, which is why they are, where they are.
As for the government, I read an article the other day about the person who's been tasked BY OBAMA to right the GM ship. This guy is a GOVERNMENT EMPLOYEE. Now here's the part that worries me, the Obama administration had a plan in place for US auto industry BEFORE HE EVEN WAS ELECTED! This has been the plan since day one.
That scares me. Obama hasn't taken down the largest industy in the US, but he helped perpetuate (sp) it's demise. He planned it and it's playing out the way he wanted it to.
Having the government the primary share holder worries me, and if GM can find a way to rectify that, they will come out a better, stronger, leaner company. The thing is, the US auto industry HAS caught up to Toyota and Honda. They are making better vehicles, more consumer driven.
Jun 3, 2009 | 06:37 PM
#45
...the uncertainty of GM has been scaring consumers from purchasing GM products. ...It is however a inconvenience for some customers who will have to drive farther to have there vehicle serviced.
...GM was way to slow to react to the import market and build quality vehicles people wanted to own that were stylish and dependable...Simply put GM is and has been way out of touch with what made it the American icon it was and they still don't realize it IMO.
...GM was way to slow to react to the import market and build quality vehicles people wanted to own that were stylish and dependable...Simply put GM is and has been way out of touch with what made it the American icon it was and they still don't realize it IMO.
The problem is that america used to be a huge exporter of american made goods. In the 70's and 80's we started importing more and more goods from other countries and it just snowballed fron there. America produces very little now days and almost all of our imports are from China and Japan. Not only is this bad for the auto industry but but for our economy and our future as a world leader. ...
Without going into much of my anti-union and large corporate exec hog bashing session (they have done their good for a long time), I point the above items out because they are the writing on the bathroom wall. You can paint over them all you want, but they will eventually bleed through. And there you'll be taking a dump and you'll see it again...Social Security anybody? OH yeah...they control that too.
I don't have answers, and I can't imagine telling 266,000 people to go home because they no longer have jobs...I can't stop thinking that I could certainly find a better place in our country right now to spend 30 billion and make it count.
I don't have answers, and I can't imagine telling 266,000 people to go home because they no longer have jobs...I can't stop thinking that I could certainly find a better place in our country right now to spend 30 billion and make it count.
...Sorry to those that are, or will lose their jobs, but you have to know that if you chose to work for a company, a contractor or sub-contractor that has been going under for 20 years, the gig won't last forever.
GM (and the other big 2 also) were too busy paying attention to the union's needs and not the CONSUMER! And during that time the consumer was being paid attention to, by the IMPORTS. And like any big US company, GM, Ford and Chrysler were slow to change and were way behind the curve and realibility, consumer needs and technology, which is why they are, where they are.
As for the government, I read an article the other day about the person who's been tasked BY OBAMA to right the GM ship. This guy is a GOVERNMENT EMPLOYEE. Now here's the part that worries me, the Obama administration had a plan in place for US auto industry BEFORE HE EVEN WAS ELECTED! This has been the plan since day one.
That scares me. Obama hasn't taken down the largest industy in the US, but he helped perpetuate (sp) it's demise. He planned it and it's playing out the way he wanted it to.
Having the government the primary share holder worries me, and if GM can find a way to rectify that, they will come out a better, stronger, leaner company. The thing is, the US auto industry HAS caught up to Toyota and Honda. They are making better vehicles, more consumer driven.
GM (and the other big 2 also) were too busy paying attention to the union's needs and not the CONSUMER! And during that time the consumer was being paid attention to, by the IMPORTS. And like any big US company, GM, Ford and Chrysler were slow to change and were way behind the curve and realibility, consumer needs and technology, which is why they are, where they are.
As for the government, I read an article the other day about the person who's been tasked BY OBAMA to right the GM ship. This guy is a GOVERNMENT EMPLOYEE. Now here's the part that worries me, the Obama administration had a plan in place for US auto industry BEFORE HE EVEN WAS ELECTED! This has been the plan since day one.
That scares me. Obama hasn't taken down the largest industy in the US, but he helped perpetuate (sp) it's demise. He planned it and it's playing out the way he wanted it to.
Having the government the primary share holder worries me, and if GM can find a way to rectify that, they will come out a better, stronger, leaner company. The thing is, the US auto industry HAS caught up to Toyota and Honda. They are making better vehicles, more consumer driven.
That plan in place from Day 1/ workin out how he wanted - I certainly hope that is B.S. If not, OH ****!
Last edited by fastnblu; Jun 3, 2009 at 06:44 PM.
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