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You are stating your opinion that leveraged hiring is wrong therefore it does not happen.
Leveraged hiring is a fact of business life. It happens all the time.
You can rationalize all you wish but that won't change the cold hard fact that leveraged hiring happens all the time.
So does buying a house with a subprime loan, when your income can't cover the max payments. That happens all the time, too, but we've seen where that gets us.
Confirmation that obama is Absolutely Clueless on How Business runs
We have a nice case study to look at. Take our three domestic automobile manufacturers. The only one to make a profit this year is the one still privately owned. That pretty much should sum it up.
We have a nice case study to look at. Take our three domestic automobile manufacturers. The only one to make a profit this year is the one still privately owned. That pretty much should sum it up.
It's really unfortunate that even with all of the money given to GM, they've continued to run their business into the ground.
That is not the government's fault. The government did not cause GM's problems.
"President Obama’s team has successfully halted what could have been a major financial meltdown, primarily through a combination of sensible fiscal stimulus and a huge amount of unconditional support for the banking system. "
It's really unfortunate that even with all of the money given to GM, they've continued to run their business into the ground.
That is not the government's fault. The government did not cause GM's problems.
Guess they should have just let them fail, huh?
They've already failed. That's why they needed billions of dollars of tax payer money. The fact that the government is busy putting make-up on the corpse doesn't mean they will come back from the dead. They're building a Frankenstein.
Sir - When you say fail, you mean bankruptcy and bankruptcy is not a bad thing. Obama did not let GM/Chysler emerge from the process but instead nationalized them to promote his progressive (green) agenda.
Quote:
That is not the government's fault. The government did not cause GM's problems.
As a result, it (United States Gov't) is taking a more direct role in their management. In March, the White House summarily dismissed G.M.’s chief executive, Rick Wagoner, and signaled its intention to help replace most of the company’s directors. The Treasury is reported to have directed G.M. to appoint a search firm to identify new board members. It has also actively encouraged the replacement of corporate directors for Citigroup and Bank of America, the two biggest banks. And government-appointed trustees for A.I.G. recently nominated six new directors.
But do Treasury officials know how to choose candidates for the boards of banks and other big companies? Lacking a tradition of direct investment in private companies, our government has no experience in selecting corporate directors.
They've already failed. That's why they needed billions of dollars of tax payer money. The fact that the government is busy putting make-up on the corpse doesn't mean they will come back from the dead. They're building a Frankenstein.
No argument.
What is the answer here?
Last edited by World Citizen; 02-10-2010 at 03:21 PM..
As a result, it (United States Gov't) is taking a more direct role in their management. In March, the White House summarily dismissed G.M.’s chief executive, Rick Wagoner, and signaled its intention to help replace most of the company’s directors. The Treasury is reported to have directed G.M. to appoint a search firm to identify new board members. It has also actively encouraged the replacement of corporate directors for Citigroup and Bank of America, the two biggest banks. And government-appointed trustees for A.I.G. recently nominated six new directors.
But do Treasury officials know how to choose candidates for the boards of banks and other big companies? Lacking a tradition of direct investment in private companies, our government has no experience in selecting corporate directors.
Among the $29 billion of existing loans that have been given to GM are $20 billion in funds that were authorized by the Bush administration.
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140,000 jobs lost...
