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Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,830,626 times
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I say yes. Why? Millions of jobs will be lost...that is true. Billions of our dollars will be used to prop up a failing company.
Let me put it to you from the, "I've seen that before, dude" side.
I once had a guy that worked with me when I was a machinist. He was an ex-cop. I thought he was trustworthy. He came up to me one day and asked if he could have "$20 bucks 'til the next pay day." I gave him 20 bucks. It took me 8 months to get 5 bucks back. He was always saying "I'll catch you next check." "Yeah, I got it...be back in a minute." "Um, my dad is sick and I just can't get it to you this week."
$20 bucks. 8 months. 16 (maybe 17) pay periods. He could've given me 1 dollar a pay period and we would've be square within a year.
I mentioned it to another guy (another machinist that worked with me) that used to own his own business. He told me, "Well, you've learned a valuable lession and for only $15 bucks." and I'm like "What lesson is that?" and he's like, "Never lend money that you expect to see back."
I've never lent a dime since that day. I've given a dime...actually more...but I've never lent a dime.
I thnk GM is like that dude that I trusted...that I should not have trusted.
Letting GM die is likely to cost more than keeping it going, although they should probably be allowed to go bankrupt. One of GMs biggest problems are the unions and legacy costs.
What about subsidizing it if it agrees to favor the introduction of alternative fuel vehicles, perhaps also diversify into public transport vehicles?
This would imply a more comprehensive government-sponsored energy and infrastructure investment program.
Look, the government already has a direct hand in the banks, it may now have a direct hand in the biggest sector of what's left of US manufacturing. Whether we like it or not, that's what we have to build on.
As for legacy costs, this is true: at least up to around six months ago, GM's operations in Europe and Latin America were profitable (not sure about the latest quarter).
Why? The federal government has already anted up $25 billion in low-interest loans for GM, Ford (NYSE: F), and Chrysler. Why now permit a restructuring that would make it easier for GM and Chrysler to dig deeper into the taxpayers' coffers?
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,830,626 times
Reputation: 6438
Quote:
Originally Posted by Humanoid
Letting GM die is likely to cost more than keeping it going, although they should probably be allowed to go bankrupt. One of GMs biggest problems are the unions and legacy costs.
Yeah. That's what I see, too. As a former machinist, I had the chance to talk with a boss who worked with a Caterpillar union. He told me "It's their break, see? and the engines are on this circular line that moves between all the stations, see? and the engines get stuck, see? and all they have to do is get up and whack the stuck one with a sawed off broom handle, see? and they won't do it, see? 'cuz if they do, they've just broken union rules, see? Can't work on breaks, see? and for 15 minutes the plant can't do jack crap, see?" and I'm thinking "It takes 15 seconds to stand up and whack the engine and get the line going again."
why don't you set this question up as a poll? it would be interesting to see the results of what average americans think about this particular bailout.
What about subsidizing it if it agrees to favor the introduction of alternative fuel vehicles, perhaps also diversify into public transport vehicles?
Can a leopard change its spots?
Dunno, but you might be dealing in something genetic, here.
Would not Darwin indicate that the Dinosaurs must die (GM in this case) that the new quick and light mammals live?
If you want to sponsor "introduction of alternative fuel vehicles, perhaps also diversify into public transport vehicles" then sponsor those -- not some brain-dead corporation that does not want to do them, anyway.
Tying the brain-dead corporation to the new program only harms the new program.
GM and Ford should be saved but under some conditions like suspending the union contracts AND executive pay contracts and bring them in line with the competition like Nissan,Toyota and Hyundai.
Yes we should let it die. They have been making bad decisions for years. They won't stop just because they get help. Look at Airlines- they have no clue how to run a business and they never learned either.
Gm should have known "from a business standpoint" pensions, unions, retirement packages are "no good for a company". And then the idiots compounded their problems by doing 0% financing. Pay people a good salary, make a good product and let employees take care of themselves.
For all practical purposes, the government will own them. Being that I am already paying them, Why don't they give us a voucher for a free car every 10 years or so.
It seems to be that I am getting the "pleasure" of paying them, but getting nothing in return.
Then again, come to think of it. The last time I bought one of their vehicles, I didn't get much more !!!!
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