Posted on 11/15/2008 11:02:50 AM PST by engrpat
This is an endgame strategy. Unlike a successful parasite, they've killed their hosts, and their only hope is to transfer the benefit obligations from the dying car companies to the American taxpayers. They literally have nothing to lose by trying this, and who knows, it might even work.
Translation....don’t mess with our Viagra!
Maybe not at $10 a share, or whatever it was last month.
GM's stock prices is near ZERO, which means it would essentially be free.
Hey, why stare a gift horse in the mouth... as they say.
The sum of the parts are worth more than the whole.
That's why it just might make sense in the end.
All three car companies should file Chapter 11 and go non union!
Sounds like murder-suicide, dont it?
That's exactly it. They will get a nice chunk of that money but the actual workers will see none.
Enough already. Let GM collapse and they can start over without the HUGE debt and goodbye unions.
No bailout!
Nope just producers with conviction have anything to lose.....up front anyway.
The big 3 are going to be nationalized. Fortunately, Toyota, Honda & others have enough plants in the USA that they can’t “ban” them as imports. So, the American big 3 will make crap, just like British Motors back in the 1970s.
I only owned Ford & GM my entire life. That’s ended; I’ve bought my last “American” car. I’m now a consumer “free agent” with my brand loyalty available to the best deal.
Not to be anti-American... but that's all the more reason I won't buy a GM (or a Ford).
Likewise, I am gonna do my best over the next four years to NOT BUY ANYTHING from a company who donated solely to Obama, or whose CEO is a backer of Obama.
Desparate times call for desparate measures.
The workers will get none, however the union coffers will be full and they can then generously fund Democrat campaigns, high-powered union lobbyists (to secure more bailouts probably), and far-left 527s and activist groups (Moveon.org, ACT, etc).
We can do nothing about it. The democrats will take credit for the bailouts and Obama will look like the savior of the US auto industry and, barring some unexpected calamity, will ride a media enduced wave right into re-election in 2012.
Welcome to the club.
My loyalty to GM-Ford ended long ago when it became apparant that the Democrat unions had more defacto control over the company than the CEO's or the Ford Family.
Why continue to support an organization that each year donates hundreds of millions of dollars to far left, anti-American, anti-JudeoChristian cretins in the Radical party now known as Democrat.
They don't. They might want some selected ASSETS of GM, like equipment they can ship down to Tennessee or wherever.
If GM management was doing their financial duty to their shareholders, they would declare bankruptcy, sell off all assets, give the proceeds to shareholders as a last dividend, and go home. Since that terminates management salaries, that won't happen.
A statement worthy of Gettysburg Address fame and kudos to you "softwarecreator" the author of intellect in thought and savvy for showing transparency! : - D
I heard someone describe the auto industry as a HMO that makes cars on the side.
Correct. Basically Obama is taking OUR tax money to ensure he (and other Democrats) get re-elected. This is ridiculous!!!
The demmies are making sure they have a stranglehold on this country for the next decade and beyond ... with our money and without our consent.
Yesterday, I was reluctantly for giving GM the $25 billion, based on the assumption that many smaller companies supporting GM would go under, thus adding to the unemployment issue.
I was unaware that if “we” give $25 billion to GM, $12 billion will go to pay for Union benefits.
GM can claim Chapter 11, thus voiding the Union contracts - JUST LIKE THE AIRLINES - and we still have the airlines.
The down side is this may end up being a big arguement for some kind of national healthcare - with however many union members left without the generous pension and healthcare benefits from the car companies.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.