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You know what's funny, SourD, by buying Japanese cars made in the US you're ENABLING THE UNIONS.
It's also funny that your patriotism doesn't really go farther than your own short term pleasure.
Ummmm... Toyota is NOT unionized. They closed their only unionized plant in 2009. See how unions make things more unreliable and expensive? A Toyota will run far longer than any American made car and cost much less.
A patriot doesnt prop up bad companies.. they encourage bad companies to get better.. yes I'm a patriot by not buying inferrior quality encouraging bad products to continue to be produced. Anyone who supports bad product production that can only fail over time is not a patriot, they are a pinhead...
What does that mean? They sold off what they could. Nobody wanted/could take on most of it.
Your last sentence -the result was pure capitalism! Sorry but it had to be done. And only Barack Obama had the stones to do it. So sorry but yes we can!
LOL, Obama did what? Doom the Dem party? Doom himself to be a one termer? Hand the company over to his pals in the UAW? The thing is still a basket case, most likely not to make it.
You really have no idea what creative destruction means do you?
Think about it! Paying a guy $50/hr plus lavish benefits to put lugnuts on a car wheel with a machine that does all of them at once? Come on man! Labor costs to these companies is totally outrageous. Who do you think pays for all of that in the end? WE DO!
Ummmm... Toyota is NOT unionized. They closed their only unionized plant in 2009. See how unions make things more unreliable and expensive? A Toyota will run far longer than any American made car and cost much less.
So you're encouraging the race to the bottom. I see an unprotected (nonunionized)Toyota worker makes $30 an hour and the workers in Mexico make $26. But I'll bet it's even cheaper in Vietnam and Thailand, for now. Then the former Toyota workers can put together wooden rocking horses for, depends on how desperate they are for a job; say $18 an hour? But if desperate Mexican workers will do it for $15.... etc. And I'm sure Totota executive incomes are correspondingly lower, too.
Your favored nonunion states give hundreds of millions of dollars to Nissan and Toyota to locate factories in their states. Per factory. Hundreds of millions of your tax dollars. But that's okay, right? Because otherwise those workers would be taking out your tax money in unemployment. See how unionbusting companies make things more unreliable and expensive? Also, IIRC Republican congresspeople from those "right to work" states were all for letting the big 3 US automakers fail (and trained you to sing, or is it sieg, along). None of your tax money to rebuild the vital auto industry of the US, but plenty of your tax money to enrich Japan.
Nice to see you admit a Toyota is not an American car, though, even though Toyota uses desperate American workers to put the cars together.
Last edited by delusianne; 10-29-2010 at 04:01 PM..
General Motors Co., preparing for an initial public offering, is showing a different spirit than the failed behemoth that preceded it: investing in small cars, planning to hire workers and paying obligations early.
***
GM will purchase the Treasury’s 83,898,305 Series A preferred shares at $25.50 apiece...With the repurchase, taxpayers will have received $9.5 billion in repayments, interest and dividends from GM since the automaker emerged from bankruptcy in July 2009, the Treasury said.
The Treasury said the repurchase of the preferred shares won’t change its stake in GM’s common stock. After the IPO, the Treasury may hold with less than a 50 percent stake in GM’s common equity.
GM IPO: GM to kick-start a road-show to encourage stock sale - Business News - Stock Market Digital (http://www.stockmarketdigital.com/sectors/nasdaq-usa/gm-ipo-gm-kick-start-road-show-encourage-stock-sale - broken link)
Not sure what's Socialist about this. Was it really a Socialist gesture to grab GM, force it to stop hemorrhaging money quarter after quarter and turn it around? Or were people just told to believe it was, by outfits with an agenda?
I think it took a lot of bravery and determination to make that decision. GM had been throwing away money for years and no other admin ever stepped in to stop them. This one did, and it's succeeding with the goal and in record time too.
Time to drop the "Soooocialist" chant. That fantasy has dissolved. (Though don't worry, the RW media have plenty more on tap!)
while i am happy that government motors is doing better, the government should NOT have stepped in when GM filed for chapter 11 bankruptcy. what should have happened is gm should have gone to their creditors, and negotiated a prepackaged bankruptcy with them, to allow gm to put a hold on their debts, and get breathing room to reorganize the company and make it leaner and stronger, much like ford did(without the bankruptcy of course) when they leveraged the company and all its trademarks to gain the time needed to streamline the company and get new products into the pipeline. ford is far ahead of gm because of this.
what the government did was basically screw the bond holders, and stock holders in gm out of their investments, gave them less than pennies on the dollar, and took over the company. and even then gm has not come back like ford has. the government was crowing about gm making a profit of $1.3 billion in the second quarter of this year, but ford trounced gm by doubling that profit number.
in the end right now gm is still the same company that it was before the bankruptcy, it just has new owners that are even more incompetent.
Quote:
Originally Posted by delusianne
How? Because the auto industry wasn't "allowed to fail"? I hope you're glad it wasn't.
gm and chrysler should have gone through chapter 11 in a normal matter where the courts would have overseen the company reorganize, and the bond and share holders would not have been screwed anywhere near as badly as the government screwed them, and both companies would be stronger now as a result.
Quote:
Originally Posted by Wayland Woman
That's good news. It's also good news that GM announced they are adding 600 jobs and a second shift to their Lansing plant. The restructuring through bankruptcy seems to be working and turning the company around.
yeah, very slowly and only because the market is turning around. ford is mopping the floor with gm and chrysler.
Quote:
Originally Posted by TigerLily24
No doubt part of why Ford continues to do well. If I'm in the market for a pickup, it is F150 all the way. They are still built in MI.
the ford F150 has been the best selling truck for more than 35 years, and for the last 33 years it has been the best selling vehicle.
Quote:
Originally Posted by delusianne
What does that mean? They sold off what they could. Nobody wanted/could take on most of it.
wrong, saab was purchased from gm by another sweedish car maker, hummer was virtually sold to a chinese automaker, but the chinese government nixed the deal. saturn was almost bought by roger penske, but that deal fell through when he couldnt find someone to manufacture the saturn line.
Quote:
Your last sentence -the result was pure capitalism! Sorry but it had to be done. And only Barack Obama had the stones to do it. So sorry but yes we can!
no it dod not have to be done. obama and the government should have stayed out of the bankruptcy.
Quote:
Originally Posted by SourD
If American car companies made something that worked as advertised and not some piece of crap, then you'd have a point. Right now cars like Nissan and Toyota blow away American cars in reliability and price. Thank you UNIONS!
you really want to stand on that statement? because right now the top three automakers in quality and resale value are toyota, ford, and honda. gm now rates above mercedes in quality.
one more thing, while ford does in fact have cars assembled in mexico, including the F150, the parts are in fact made here in the US, and shipped to mexico, and other countries, for final assembly.
General Motors Co., preparing for an initial public offering, is showing a different spirit than the failed behemoth that preceded it: investing in small cars, planning to hire workers and paying obligations early.
***
GM will purchase the Treasury’s 83,898,305 Series A preferred shares at $25.50 apiece...With the repurchase, taxpayers will have received $9.5 billion in repayments, interest and dividends from GM since the automaker emerged from bankruptcy in July 2009, the Treasury said.
The Treasury said the repurchase of the preferred shares won’t change its stake in GM’s common stock. After the IPO, the Treasury may hold with less than a 50 percent stake in GM’s common equity.
GM IPO: GM to kick-start a road-show to encourage stock sale - Business News - Stock Market Digital (http://www.stockmarketdigital.com/sectors/nasdaq-usa/gm-ipo-gm-kick-start-road-show-encourage-stock-sale - broken link)
Not sure what's Socialist about this. Was it really a Socialist gesture to grab GM, force it to stop hemorrhaging money quarter after quarter and turn it around? Or were people just told to believe it was, by outfits with an agenda?
I think it took a lot of bravery and determination to make that decision. GM had been throwing away money for years and no other admin ever stepped in to stop them. This one did, and it's succeeding with the goal and in record time too.
Time to drop the "Soooocialist" chant. That fantasy has dissolved. (Though don't worry, the RW media have plenty more on tap!)
They will need to show us how they plan on dealing with the union $17 billion pensions liability.
BTW, i do not want to buy a "small car" so it looks like I'll shop elsewhere.
If American car companies made something that worked as advertised and not some piece of crap, then you'd have a point. Right now cars like Nissan and Toyota blow away American cars in reliability and price. Thank you UNIONS!
Actually in the last 10 years the quality and reliability gap has closed considerably. Cars like the Chevy Malibu, Chevy Cruze, Cadillac CTS, and GMC Arcadia compare very nicely against foreign competitors.
Also wasn't it Toyota that had the massive recall due to acceleration problem?
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