Skip to comments.Obama denies bailout funds for automakers
Posted on 03/29/2009 9:31:09 PM PDT by skinkinthegrass
WASHINGTON The White House says neither GM nor Chrysler submitted acceptable plans to receive more bailout money, setting the stage for a crisis in Detroit and putting in motion what could be the final two months of two American auto giants.
(Excerpt) Read more at chron.com ...
Let’s hope so...GM needs to file bankruptcy and break the union to become competitive. NOT too big to fail.
I did a search...nothing came back.
agree, the company / union / country, needs that actions.
This administation is a bunch of clowns
So can Wagoner keep his job?
If I were to hire a guy to break the US automobile industry, he would do exactly what obama is doing.
This is getting good...
Smokescreen! New CEO is picked. He/she comes up with new plan. More billions for the UAW.
Did you see Obama is going to guarantee the warranties on GM and Chrysler vehicles?
Funny how a liberal is doing this to working men, yet has no qualms with TRILLIONS for bankers etc. People actually need cars in our society, as opposed to credit default swaps. The irony. I can’t wait to see how sad the libs are.
Exactly! And the UAW already knows it!
A bunch of finger-pointing babies...
Just heard on ABC radio Wagoner resign amiist pressure from the thuggish Obama regime.
Wagoner never would've stepped down if GM wasn't going to get the money. After all, the alternative is Bankruptcy. If GM were to go through a successful Bankruptcy preceding and come out the other end a leaner, more efficient company, whomever would be the CEO would make buckets of money on the back end.
I predict this, GM will get it's money in return for halting production on a number of SUVs and Pick-Up's and scaling back production on what's left. This is all about reducing choices to American consumers.
Sad, but they can file bankruptcy and/or go under, like many other defunct auto manufacturers before them, including the American Motor Car Company, Edsel, and almost 1800 others that have bit the dust in America alone since car manufacturing began.
Why is this so difficult to understand? Companies go out of business. I mean, when was the last time any of you had a need for an 8-track tape? Or how often do you use clothes pins to actually hang laundry on the clothes line (the environmentalists are trying to bring that back, but not very successfully so far).
So, Detroit wouldn’t accept that people were tired of their product line and weren’t going to buy their cars. They kept making them anyway. Instead of inventing new and inventive products that fell into the consumer’s buying demands, they kept trying to force us into their cars. You can’t make people buy a product they don’t need anymore. (8-tracks and clothes pins) So, companies go under. You adapt or die.
(1) Declare bankruptcy
(2) Void all UAW contracts
(3) Move all operations out of the U.S. to Brazil
(4) Make a car called the Chevy Hatchback that has "more junk for the trunk."
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