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Old 09-10-2012, 05:07 PM
 
Location: DFW
40,936 posts, read 49,025,568 times
Reputation: 54962

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Quote:
Originally Posted by TheHurricaneKid View Post
Or they might not be a competitive company. Either way, due to the demand, someone will take the place.
I forgot someone has to actually want your product. If it wasn't for trucks GM would have been gone years ago.
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Old 09-10-2012, 05:09 PM
 
Location: A coal patch in Pennsyltucky
10,324 posts, read 10,581,616 times
Reputation: 12637
Quote:
Originally Posted by OICU812 View Post
Oh ye of little faith. We have bankruptcy laws so that companies in financial troubles do not "perish."

All some of these idiots have, is this false claim that if Obama had not bought GM with tens of billions of free taxpayer money, it would have perished. Plenty of corporations file for bankruptcy protections and come out stronger. GM would have looked good if they had filed for bankruptcy and dumped the union contracts
Exactly! I guess most of the people on here are unaware of how many times most of the major existing airlines have filed for bankruptcy protection.

Last edited by villageidiot1; 09-10-2012 at 05:24 PM..
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Old 09-10-2012, 05:12 PM
 
69,368 posts, read 63,992,474 times
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Quote:
Originally Posted by Rakin View Post
GM will eventually file bankruptcy. The sooner they do it the sooner they can become a competitive company.
they filed bk just 2 years ago..
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Old 09-10-2012, 05:12 PM
 
Location: DFW
40,936 posts, read 49,025,568 times
Reputation: 54962
Quote:
Originally Posted by villageidiot1 View Post
Exactly! I guess most of the people on here are unaware of how many times all the major existing airlines have file for bankruptcy protection.
Even when Braniff and TWA went out of business the demand for flying did not cease. Almost every major has filed Bankruptcy except Southwest.
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Old 09-10-2012, 05:13 PM
 
56,989 posts, read 35,116,741 times
Reputation: 18824
Quote:
Originally Posted by HappyTexan View Post
It was a union bailout plain and simple.

They could have gone into bankruptcy and re-emerged; companies do that all the time.
Who would have been hurt in the bankruptcy would have been the UAW that's who.
That's nonsense and you know it. GM didn't run to the government with hat in hand to save the union. They were fighting for their survival.

This type of rubbish simply masks jealousy on the part of non-union workers who don't have the balls to either unionize themselves, or work to make their own situations better.

Sorry that so many of you have sucky jobs with horrible benefits, but please, don't blame the UAW. This is the world you wanted when you elected Ronnie. Suck it up and deal with it.
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Old 09-10-2012, 05:14 PM
 
33,387 posts, read 34,745,522 times
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Quote:
Originally Posted by BajanYankee View Post
If we had let the auto industry fail as Republicans wanted, would Ohio be better off today than it is now?
the auto industry would NOT have failed. how do i know this? a few reasons;

1: gm and chrysler filed for chapter 11 bankruptcy reorganization, not liquidation. that means that they would have to reorganize the companies under the supervision of the courts. they would have been able to sequester their debts, and pay them off in a plan authorized by the courts and the creditors, and they would have been able to renegotiate the union contracts to alleviate much of the legacy costs they had.

2: even if both companies had filed for liquidation, you can bet that many companies would have stepped up to buy the assets of both companies at fire sale prices. for instance chevrolet is a big name in the auto industry, and it would have been bought as a company by someone, probably toyota, and they would still be making cars today. same with jeep, dodge, etc. true gm and chrysler corp would have been no more at that point as an entity, but there still would have been companies making cars suing those trademarks.

3: history is on the side of the automakers to a point. for instance when packard was going down, studebaker bought the company and kept them alive for a few more years, before they closed down packard. by that time packards sales were as low as they would ever get, and it was obvious that they were no longer viable. and ge owned studebaker for awhile, until they closed them down because they were not as profitable as ge wanted them to be. though studebaker was closed it could have continued on well into the 70s and perhaps even the 80s where someone would have bought the company. same with willys, kaiser, rambler, etc. willys was sold to rambler and became the jeep division of the new amc, which lasted into the 80s when chrysler bought the company, now known as the eagle division and the jeep division of chrysler corp.

in the end there was no reason for the obama administration to STEAL gm and chrysler from the rightful owners and bond holders, they would have gotten along quite nicely, and the american tax payers wouldnt be out more than $40 billion.
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Old 09-10-2012, 05:16 PM
 
69,368 posts, read 63,992,474 times
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Quote:
Originally Posted by desertdetroiter View Post
That's nonsense and you know it. GM didn't run to the government with hat in hand to save the union. They were fighting for their survival.

This type of rubbish simply masks jealousy on the part of non-union workers who don't have the balls to either unionize themselves, or work to make their own situations better.

Sorry that so many of you have sucky jobs with horrible benefits, but please, don't blame the UAW. This is the world you wanted when you elected Ronnie. Suck it up and deal with it.
Oh bull crap.. The auto industry was no different than the banking industry since the auto companies held so much paper..

If you support the auto bailout, but opposed the banking industry bailouts, your a hypocrite..
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Old 09-10-2012, 05:17 PM
 
33,387 posts, read 34,745,522 times
Reputation: 20030
Quote:
Originally Posted by Rakin View Post
Even when Braniff and TWA went out of business the demand for flying did not cease. Almost every major has filed Bankruptcy except Southwest.
true, and those airlines, and the braniff hotel chain, were all bought up by other companies and the assets used as they should be. for instance braniffs hotel chain was bought by marriot so they could expand their brand.
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Old 09-10-2012, 06:43 PM
 
4,739 posts, read 4,425,591 times
Reputation: 2485
regardless of the outcome or what could of happened. I am boycotting these companies. I think they really did deserve to collapse, to go away. I think we would of benefited, after a time, from true new innovation.


So all I can do is walk away from these companies.

I would consider Ford, if they catch up to Honda. But GM and Chrysler can go F themselves.
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Old 09-10-2012, 06:55 PM
 
Location: The Lakes Region
3,074 posts, read 4,716,664 times
Reputation: 2377
Quote:
Originally Posted by db108108 View Post
A lot of theory in there.

Other companies would have surely snapped up those car plants because that's what happened in Detroit and Flint, right?

Right?

Right wing garbage.
Ford Motor company is no theory and they survived just fine. Keep on spinning your sycophant propaganda. The facts speak clearly. BTW - I bought Ford stock at $1/share, when the bottom fell out, and sold it a year later at $14/share. Also, remember the GM ad where they claimed they paid back their loan and we later found out that they used borrowed tax money to do it. That's the same as paying off one credit card with another credit card - you are still knee deep in debt.
I bet if you owned GM stock before the bailout you would not have been a happy camper after Uncle Sam paid you 30 cents on the dollar and then turned around and gave your shares to the unions. That's thievery by any other name.
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