Posted on 06/22/2012 11:19:34 AM PDT by jazusamo
My son asked why we were not considering all of the Chevies on the lots and I explained that under no circumstances would any "Government Motors" product be considered.
And we were a Chevy family when I was growing up in the 50s and 60s.
As ye sow, so shall ye reap.........................
First they came for the bondholders, but I wasn’t a bondholder.
Then they came for the taxpayer, but I wasn’t a taxpayer.
Then they came for the young employees, but I wasn’t a young employee.
Then they came for me, and there was nobody around to speak up.
Delicious. About time the pensioners got shafted after shafting everyone else.
Government Motors are definitely NOT on my shopping list forever....................
I all but refuse to buy any UAW-built car, including Ford, but GM, post-bailout? I can’t think of any incentive strong enough to buy from GM unless there were no other option.
As a GM retiree I’m elated that my pension will come from Prudential instead of GM.
Prudential has a MUCH HIGHER credit rating than GM. Plus GM is adding $3.5 billion to the fund as it transitions to Pru.
These retiree associations that bemoan the loss of PBGC coverage apparently have NO IDEA that:
1) the Federal Govt is BROKE
2) the PBGC has a $26 BILLION DEFICIT and getting worse as the Barqaqqi Depressionn grinds on.
That all may be true but that 3.5 to 4.5 billion going to Prudential could be coming from taxpayer dollars that bailed GM out, the government hasn’t recovered all the taxpayer money from GM last I heard for the bailout.
As a retiree what do you say about this backlash thing from retirees about not buying GM products, is it a valid point?
Wasn’t this just for the white collared workers, not the UAW line workers that already got a better deal than contract law dictates in the bailout?
They have offended bondholders, retirees, contractors, conservatives and especially Tea Party members, and the families of each of these groups. I sincerely hope that, as the stench spreads and more decent Americans boycott GM forever, this will be enough to kill that corrupt company completely. GM is dead to me, and I’ll rest easier once their withered hand (supported only by big government meddling) is removed from my wallet.
The ethics of the GM bankruptcy is a whole ‘nother story.
All my comments refer to is the situation facing GM salaried retirees.
I don’t understand why a GM salaried retiree would feel they are disadvantaged by the move to Prudential.
Their entire view is predicated in faith on a govt that is broke and a quasi-govt agency with $26 billion shortfall.
Yes this pension transfer from GM to Prudential is only for salaried workers.
The federal government IS NOT BROKE. We currently have many times over the value of resources and assets to cover the national debt and even the expected payments on social security, federal retirement, and every other bill for generations. Try this: http://blog.heartland.org/2012/06/ferrara-at-tas-green-welfare-green-taxes-green-poverty/
I don’t want you to figure my taxes if you think you can spend more than you take in and the US Government is not broke...
Agreed. I will never buy a GM or any other UAW-made car. I don’t see how any taxpayer with half a brain can throw more money at this terrible organization. There are so many other cars out there now. A lot of imports are made in Tennessee and Mississippi by non-union workers.
As an aside, GM flying a gay rainbow flag above one of their Indiana plants yesterday didn’t sit very well with a lot of people I imagine.
I’m not a GM retiree, just a retiree ... I wouldn’t go NEAR a GM product. Why should I spend any portion of my FIXED INCOME to help pay for Union benefits. Not me. The Honda Pilot is looking good to me.
Time to start converting those communally owned assets to cash ~ pay off the debts, pay the bills, eliminate taxes.
We only buy Hyundai.
I’m a Ford guy. They didn’t take the bailout. I’m still a Ford guy.
I was a lifelong Chrysler guy. They took the bailout. My most recent purchase is a Ford Taurus. I won't go back, ever.
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