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Old 11-27-2008, 09:52 AM
 
Location: Tennessee/Michigan
28,202 posts, read 47,597,148 times
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As the federal government and major U.S. industries continue the bailout boogie on Capitol Hill, Americans have been examining what exactly all these billions of dollars go toward and who exactly they help.

Proponents of the $700 billion bailout of Wall Street in October argued that, in the end, the bailout would help Main Street.

Who Would Big 3 Failure Hurt? - Automotive News Story - WSMV Nashville
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Old 11-28-2008, 02:50 PM
 
12,870 posts, read 13,135,797 times
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they also said that the first bank bailout would help main street.
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Old 11-30-2008, 09:52 AM
 
Location: Great State of Texas
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The little guys are already hurting with many of them closed already due to the big downturn in new car purchases. The little guys don't have billions to tide them over til a bailout comes.

And this bailout will probably go towards the Big Three operating expenses..how would that help the little guy ?

No, the little guy (Main Street) will not be helped by a Big Three bailout..that is just propaganda to sway public opinion. Wasn't Main Street going to get bailed out buy that big "rescue" package too only the Fed changed their minds and handed it to the banksters instead.
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Old 11-30-2008, 01:52 PM
 
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General Motors, which recently reported a $1.1 billion... loss for the first quarter in part because of the increased cost of providing health care coverage for 1.1 million employees, retirees and their dependents. According to the Times, GM has "ample financial reserves" to fund this year's health care costs but must find a way to address so-called "legacy costs" -- $60 billion in retiree health benefits and $87 billion in pension obligations. Closing plants and laying off workers "wouldn't ease the company's benefit burden".

amazingly enough, this was posted in 2005 and GM has not been able to fix their problems.

GM will postpone $1.7 billion of payments that was to have gone into the newly established Voluntary Employee Benefit Association (VEBA), which shifts GM's legacy costs for hourly retiree health care to a union-run fund. the bailout will actually address the legacy issue.
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Old 11-30-2008, 03:37 PM
 
Location: Great State of Texas
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So the bailout is really a union bailout IMO.
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Old 11-30-2008, 04:34 PM
 
1,748 posts, read 3,985,749 times
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Another "bash the union" thread. Those greedy job protectionists, they are the ill of the world, if they caved in to the walmart wages as the good lord intended all will be great in the world...

Give the bankers more paper money, make an example of union america by asking industry to default on their benefit obligations of retirees and families under bankruptcy, make the employed re-take their jobs at mcdonalds wages to appease a bitter, dispossessed, educated white collar class without a spine (if they had one they'd point the finger at the Fed and not unions), sell everybody on the joke of 401Ks, call poor people morally bankrupt for making the "choice" of being poor, have the same gangsters on wall st keep playing their wealth redistribution games while the novu-indigent begin to retire on their grossly underfunded 401K and end up being subsidized by the same people who "refused on principle" to stand idly while union workers retained benefits. Yep, joke's on you my "capitalist" friend. Call me red, I rather bail out the unions cold turkey any day than give trillions of dollars to the corporatist plutocracy that gets bailed out over the weekend every other month.... And for good measure, denouncing union corruption as the reason for our problems while under the cloud of the abortion of an economic banking and financing system we are shackled under, is missing the point by a galaxy.
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Old 11-30-2008, 06:13 PM
 
Location: Great State of Texas
86,093 posts, read 72,469,891 times
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Quote:
Originally Posted by hindsight2020 View Post
Another "bash the union" thread. Those greedy job protectionists, they are the ill of the world, if they caved in to the walmart wages as the good lord intended all will be great in the world...

Give the bankers more paper money, make an example of union america by asking industry to default on their benefit obligations of retirees and families under bankruptcy, make the employed re-take their jobs at mcdonalds wages to appease a bitter, dispossessed, educated white collar class without a spine (if they had one they'd point the finger at the Fed and not unions), sell everybody on the joke of 401Ks, call poor people morally bankrupt for making the "choice" of being poor, have the same gangsters on wall st keep playing their wealth redistribution games while the novu-indigent begin to retire on their grossly underfunded 401K and end up being subsidized by the same people who "refused on principle" to stand idly while union workers retained benefits. Yep, joke's on you my "capitalist" friend. Call me red, I rather bail out the unions cold turkey any day than give trillions of dollars to the corporatist plutocracy that gets bailed out over the weekend every other month.... And for good measure, denouncing union corruption as the reason for our problems while under the cloud of the abortion of an economic banking and financing system we are shackled under, is missing the point by a galaxy.
Union or not there are plenty of American's going through this right now without the benefit of a big union backing them.

Companies go out of business, pensions go to the PBGC and folks have to find new jobs.

Unions ARE NOT special and should not be treated as such.
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Old 11-30-2008, 06:24 PM
 
Location: San Antonio
10,238 posts, read 18,742,495 times
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Maybe Marx was right, capitalism IS going to create only two classes, an upper and a lower. It's just taking longer than he figured. Here's an interesting article.

Howard Schweber: Was Marx Right? The Bailout and the Auto Industry
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Old 12-01-2008, 09:32 PM
 
3,723 posts, read 4,589,049 times
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Quote:
Unions - Unions will become a bane to big business. look for large media campaign to turn public opion against them. Look for legislation to take out unions. Don't think it will work? They got you to buy a house worth 4 times its vaule, Got you to open unneeded drilling areas, talked you into invading two countries, talked you into giving all your tax money to crooked lenders. I do not see why they would not keep that kind of **** up.
How to survive 'The Great Stagnation' of 2009 - 2015 - Predictions of the time period of 2009 - 2015 for America an...

It's all coming to pass.
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Old 12-05-2008, 06:21 PM
 
48,516 posts, read 83,890,268 times
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In the end its like any other business that can't make a profit;they will fail sonner or later. They have been going down the tubes for years.They have 53% of the auto makeyt here and still can not turn a profit. The only was they have trurned a profit in the last years was on big expensive SUV sales,. They learned nothing from the 70's embargo and recession.Toyota and honda have enough factories here and can build more to fill that gap.GM can keep building their cars in foreign markets were they have done ok. Its the US markets that have dragged them down.
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