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It's all part of the science of why Fox viewers are the least informed people in the country. We're talking about being completely wrong on just about every issue. They're just stupid people.
Quote:
September 11th, 2012
Treasury still holds about 500 million shares of GM, worth about $11.5 billion at current prices. But those shares would have had to rise to almost $57 a share from its current price of $23.14 in order for taxpayers to break even.
I don't know why you are knocking media matters. There is no commentary there or edited video. He said it on Video and Fox said that there was no video. What am I missing here. Did you see the videos. It is clear as day.
Is all of Media Matters audience this dumb? It does seem that way.
If you dont know that bankruptcy does not mean go out of business, then your opinion means absolutely nothing..
There are questions that beg to be answered.
1. How did GM get in such dire straights?
2. Did the bailout address the original problem?
3. Where do we draw the line with Gov bailouts of business?
4. Should the fed be dumping billions on failing businesses?
5. Should the employees of said business be forced to take pay and benefit cuts as part of a package?
IMO
1 and 2. Never really addressed. One of the biggest problems was the union pension plans and benefit packages. Another was CEO bonuses and perks.
3. I dont have an answer, but would say that if we need to borrow the money from another country to do it the answer should be eliminate all bonuses until the debt is paid in full.
4. If I start a business and it's failing I should get a bailout too.
5. I think everyone who would benefit from the bailout should be making some sacrifices.
You people don't get it do you? Bankruptcy, while ugly, is the natural order of things when anything is run inefficiently or is a victim of poor strategic planning. Think of it like nature culling the weak. Bailing out poor performing businesses perpetuates poor business models. Let them go bankrupt. In time other companies And jobs will take its place. Another option is for the company declaring bankruptcy to bring in new leadership to turn the boat around. Similiar to why we are throwing Obama out Tuesday and bringing in new leadership.
There is nothing wrong with bankruptcy. It has it's purpose. In the case of the auto makers they became so burdened with union liabilities bacause of union greed and on top of that trade issues that they can't compete. Bankruptcy allows them to shed the poor past performance and start over. Again, just like throwing Obama out Tuesday.
I am not arguing whether they should have gone through bankruptcy or not. I am simply pointing out that Mitt said let Detroit go bankrupt. It was on tape, and Fox lied and said that it did not exist, which clearly it does.
Well, here in Canada out severely conservative government bailed out the auto companies also. It's pretty much a nonpartisan issue in the real world. I would be willing to bet dollars to pennies that if it had been the GOP that bailed out the auto industry the GOPers would be hailing it as genius and the Dems would be cursing it is the worst decision ever.
Your country is becoming a laughing stock in the world. Reality means less than nothing and if something is not done about it then just keep watching the USA swirl down the drain.
True, the Canadian government bailed them out --- and yet Canadians pay MORE for cars made in Canada than do Americans.
The two-wheel drive Toyota Rav4 would cost $22,650 in Honolulu, with an additional charge for freight and pre-delivery inspection (PDI) of $810, yet a resident in Woodstock, Ont., would pay $24,865, plus a freight and PDI charge of $1,465, for the same model, despite the Rav4 being manufactured in Woodstock. I guess it costs $1,465 to drive it across town.
Likewise, a resident in Alliston, Ont., where the Acura MDX is made, would pay $52,690 based on the suggested retail price, while in the U.S. the vehicle's suggested price is $43,030.
Plus a 13 % sales tax.
Whose the laughing stock now?
(I wish the Canadian government would explain this !)
I am not arguing whether they should have gone through bankruptcy or not. I am simply pointing out that Mitt said let Detroit go bankrupt. It was on tape, and Fox lied and said that it did not exist, which clearly it does.
Just to be clear...are you saying that since Romney said those 4 words together "let Detroit go bankrupt", regardless of the rest of the sentence before and after that phrase...that it proves that Fox lied. Are you actually going to go with that?
Because quite frankly if you do, whatever thin shred, whatever modicum of credibility you're holding to to now will be decimated. And you become, without question, beyond ludicrous.
Just to be clear...are you saying that since Romney said those 4 words together "let Detroit go bankrupt", regardless of the rest of the sentence before and after that phrase...that it proves that Fox lied. Are you actually going to go with that?
Because quite frankly if you do, whatever thin shred, whatever modicum of credibility you're holding to to now will be decimated. And you become, without question, beyond ludicrous.
Why isn't anyone reading the original article? !!!
Read the article yourself, you'll see what he meant: namely getting rid of unions (disempowering people and cutting their pay), reducing personnel (i.e. firing people), getting rid of pensions (i.e. impovershing people), and bringing in a few "outside" experts to turn things around (i.e. hire Bain )....
Why isn't anyone reading the original article? !!!
Read the article yourself, you'll see what he meant: namely getting rid of unions (disempowering people and cutting their pay), reducing personnel (i.e. firing people), getting rid of pensions (i.e. impovershing people), and bringing in a few "outside" experts to turn things around (i.e. hire Bain )....
Why isn't anyone reading the original article? !!!
Read the article yourself, you'll see what he meant: namely getting rid of unions (disempowering people and cutting their pay), reducing personnel (i.e. firing people), getting rid of pensions (i.e. impovershing people), and bringing in a few "outside" experts to turn things around (i.e. hire Bain )....
How dare you show Romney as a priveledged lying fraud!!!!
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