The Economist: "An apology is due to Barack Obama" (enemies, companies)
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But he did it really to save his precious special interest the UAW> It was never sold to congresss as a TARP to save the major banks that would takedown the economy. Ford who is comig back realised that they did not want govwernamnt as a partner and certainly not the UAW as part owner.Investors will remember that.
The OP article, from a credible source, is very thoughtful and true. Too bad the nay-sayers won't bother to read it.
Quote:
So was the auto bail-out a success? It is hard to be sure. Had the government not stepped in, GM might have restructured under normal bankruptcy procedures, without putting public money at risk. Many observers think this unlikely, however. Given the panic that gripped private purse-strings last year, it is more likely that GM would have been liquidated, sending a cascade of destruction through the supply chain on which its rivals, too, depended.
Last edited by Wayland Woman; 11-04-2010 at 04:46 PM..
Bwuh? Get off those CT websites, they're deceiving you.
Ya really think so
Using TAX PAYER MONEY to save a 'MISGUIDED' company
like GM is nothing more then stupid !
GM has made to many vehicles that America just did not
want add to this the backdoor deals with the unions and
the pension deals and you have what we see today
Get a copy of the book "The Company & The Union"
it will give you something to read while your riding
on the disoriented express
Had it been me then I would have let GM fail. I have not seen any evidence that the bail-out has fixed any of the structural problems that have plagued GM for years both in terms of the unions and management.
What are you talking about? The old management was ousted. They closed 17 factories across the nation and the UAW was forced to take a contract that took legacy rights away for new hire-ins and reduced their starting pay to $14.00 an hour. They are a leaner, meaner company and the factories left are all along a transportation corridor, making productions cost lower.
Gotta love these dims that keep trying to somehow convince everyone that Nobama is anything other than what he is. He's a lying, Chicago politician who has been exposed. Maybe you should have posted this thread before the vote on Tuesday and all of that wisdom that you're preaching would have enlightened all of the people that are punishing the dims for 4 years of mistakes and trampling over people to fulfill their agenda. The last two years of which I thank nobama very much for because he took it right over the edge and the American people finally had enough of his crap.
GM has been in a slide since the early 80's mostly because
of their products
If you build a crappy car Americans will buy something
else it's really that simple
For those who understand, no explanation is needed. For those who do not understand, no explanation is possible.
And Obama was the only president with the stones to say this has got to stop. And you all beat him up for it.
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