Posted on 07/09/2009 9:45:18 AM PDT by kellynla
Edited on 07/09/2009 10:21:32 AM PDT by Admin Moderator. [history]
DETROIT -- General Motors Corp. appeared headed toward a record-short escape from bankruptcy protection Thursday despite a last-minute appeal that a legal expert said was unlikely to stand in the way.
A bankruptcy judge's order approving the sale of most of GM's assets to a new company was to go into effect at noon. An appeal was filed just before the deadline by plaintiffs in an Arizona product liability lawsuit against the automaker. It was unclear if the appeal delayed the sale approval.
(Excerpt) Read more at wnem.com ...
Kellynla: We may be able to buy what we want, temporarily,
but my point was, we are not living in a free country anymore.
I’ve enjoyed many of your posts and comments, but you must admit that we are being squeezed by the New Fascistic
Government into a corner.
Will you be able to buy a 150 watt incandescent light bulb
three or four years from now?
How about a toilet with a four gallon flush?
They want to tax high-fat foods.
Your fantasy Corvette, as well as my Dodge Ram Hemi 1500 will all be outlawed very soon if we don’t start to push back.
I live in an area where luxury high-end homes, and boats, define our economy.
When POS Obama says that the world will not tolerate our driving around in our gas-guzzling SUV’s, and having our homes being heated or cooled to 72 degrees, do you think that superfluous Corvettes and boats are far behind?
I hope you get your dream car while you can.
Listen to Rush’s “Red Barchetta”.
I never understood that one.
Buy the Chinese cars when they become available...it would suit a person who refuses to invest in his country. Continue to enrich those who have refused to allow American cars to be sold in their countries (Japan and Korea) while enjoying free access to our markets. Keep in mind if we make nothing, pretty soon you won’t be able to buy a car period...we will end up being the slave labor making cars for the wealthy Chinese and Indians and other countries- who understand the link between prosperity and production- unable to afford such products personally. You can not have a great country if you make nothing. You just can’t.
and the question is, why couldn’t they have been allowed to do this in the first place instead of taxpayers getting into the auto making business.
No, king obama had to get his hands in the auto industry before they were “allowed” to act like a failing business so he controlled it and paid off the UAW.
What would your father think of the new Obama Motor Works, though?
Sounds to me like he wouldn’t touch a Chrysler or GM car with a 39 and a half foot pole after what Obama has done.
I don’t understand how any American could support the UAW or the Obama Motors Companies, especially a serviceman. I served in the Army and I won’t touch either one.
It’s certainly your right to buy what you want, but I think you give up the right to object to such activity in the future by Obama and the unions if you support it now.
In a bankruptcy conducted per prior legal precedents, the UAW would have essentially no standing as a creditor. Since it was done “Chigago style” the union wound up with a big chunk of the assets the bondholders were entitled to.
The Baraqqis will nurse Govt Motors until November 2012. After that, not so much.
>In a bankruptcy conducted per prior legal precedents, the UAW would have essentially no standing as a creditor. Since it was done “Chigago style” the union wound up with a big chunk of the assets the bondholders were entitled to.
The Baraqqis will nurse Govt Motors until November 2012. After that, not so much.<
But my understanding on the UAW being given a big piece of the action and making tons of money from Obama’s intercession is correct yes?
I am under the belief that this was the reason that he did it all, to take from the taxpayer, and essentially deliver it in the hands of the UAW as a pay off for their support.
Am I misunderstanding the situation?
“Now that the gov’t is the MAJORITY shareholder THEY will dictate what will go on with production.”
GM has been told to “green” their fleet. They will produce lighter hybrids that will not be cost effective or desirable. The government will then give “tax rebates” to lower income people to by the new “greener” cars from GM. Bascially another way to re-distribute wealth.
Look “potty mouth”, you may think others enjoy reading that trash but I don't and there are LADIES & GENTLEMEN & CHILDREN on this forum. So I suggest you “clean up your act.”
shezzzzzzzzzzzzzzz...hopefully the Army will teach you some manners before you get your DD214!
There was an orange Camaro SS parked in front of my hotel room in NH last week.
First one i’ve seen in person.
It had dealer plates on it.
It looked pretty cool.
Yeah, its a crying shame, isn’t it.
The Camaro SS was designed in freedom but now it’s built by the Obama SS.
I’ll pass.
The Hemi Dodge Chargers are amazing as well.
But the political “baggage” it comes with just isn’t worth it.
Fox just interviewed a mining company that lost GM’s contract..while GM retained contracts with Russia and South Africa.
Isn’t someone we all know visting both of those places this week?
Makes me want to don a tinfoil hat.
That’s my only problem. I’ve always bought Chevy, and have a good relationship with my Chevy dealer. Fortunately, I can’t afford to buy new cars anymore.
I drive American but not GM or Chrysler or Honda/Toyo (Transplants). A Ford Motor product but if the UAW tries to screw Ford I will never buy one again. Ford’s products globally are quite good.
Jeesh...You are going to die from a heart attack due to angst...or at least lead an unhappy life. GM will soon be back in private hands. The Camaro is a great car and I plan on buying an SS as soon as I can.
“Without the loans, its executives have said the company would have been sold off in pieces.”
The money quote from the whole article. This outcome would have been more favorable in the long run.
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