Are there still any hopeless romantics who support the bailout?

[Moonbeam]

Originally posted by: BoberFett

Originally posted by: Moonbeam

Originally posted by: BoberFett

Originally posted by: Moonbeam
These, 'I have the economic issues figured out' threads look to me like attempts to manage fear, much like when we replay and replay some traumatic event in our head, compulsively. I sense a need to be in control and the horrible fear that our fate is out of our hands. The beauty of say, Islam, is the notion that all that happens is the will of God and that a good man has nothing to fear, in this life, or the next. The wind that blows, the sun that warms my skin, the birds that land in my yard are all free and don't care about the economy and I am rich beyond measure.

If that's all you need to be rich, then why do you support welfare? All those poor people should just be happy with their birds and sun.

I don't support welfare. I support a social structure that eliminates the notion of jobs and provides for all who provide for others, a system that rewards social capital. I believe the only real purpose in life is to live, and to live is to develop your human potential.

Welfare destroys personal development. Work destroys the human spirit. That's why people who have to work and are taxed hate everyone.

Now I know you're delusional. Work is simply a function of life.

Nah, it's this:

Force times the distance through which it acts; specifically, the transference of energy equal to the product of the component of a force that acts in the direction of the motion of the point of application of the force and the distance through which the point of application moves.

 

[Fern]

Originally posted by: Skoorb
Link

General Motors Corp. said its auditors have raised substantial doubt about the company's ability to continue operations.

-snip-

This is the biggest 'non-news' I've heard in a while.

The CPA/auditors must include an "ongoing concern" paragraph or statement in their audit report if there is doubt that the conpamy can continue (not go bankrupt).

Given that GM itself has said they need the bailout or will fail, and the fact that everyone in America believes this to be truth, the auditors would look like complete idiots and totally incompetent (and subject to lawsuits) if they didn't include this statement.

I.e., this is totally expected, the only 'news' would be if the auditors didn't raise doubts about the GM's ability to continue.

Fern

 

[chess9]

Originally posted by: Moonbeam

Originally posted by: BoberFett

Originally posted by: Moonbeam

Originally posted by: BoberFett

Originally posted by: Moonbeam
These, 'I have the economic issues figured out' threads look to me like attempts to manage fear, much like when we replay and replay some traumatic event in our head, compulsively. I sense a need to be in control and the horrible fear that our fate is out of our hands. The beauty of say, Islam, is the notion that all that happens is the will of God and that a good man has nothing to fear, in this life, or the next. The wind that blows, the sun that warms my skin, the birds that land in my yard are all free and don't care about the economy and I am rich beyond measure.

If that's all you need to be rich, then why do you support welfare? All those poor people should just be happy with their birds and sun.

I don't support welfare. I support a social structure that eliminates the notion of jobs and provides for all who provide for others, a system that rewards social capital. I believe the only real purpose in life is to live, and to live is to develop your human potential.

Welfare destroys personal development. Work destroys the human spirit. That's why people who have to work and are taxed hate everyone.

Now I know you're delusional. Work is simply a function of life.

Nah, it's this:

Force times the distance through which it acts; specifically, the transference of energy equal to the product of the component of a force that acts in the direction of the motion of the point of application of the force and the distance through which the point of application moves.

LOL! Moonie gives us a physics lesson using no actual physics.

-Robert

 

[chess9]

Originally posted by: Fern

Originally posted by: Skoorb
Link

General Motors Corp. said its auditors have raised substantial doubt about the company's ability to continue operations.

-snip-

This is the biggest 'non-news' I've heard in a while.

The CPA/auditors must include an "ongoing concern" paragraph or statement in their audit report if there is doubt that the conpamy can continue (not go bankrupt).

Given that GM itself has said they need the bailout or will fail, and the fact that everyone in America believes this to be truth, the audors would look like complete idiots and totally incompetent (and subject to lawsuits) if they didn't include this statement.

I.e., this is totally expected, the only 'news' would be if the auditors didn't raise doubts about the GM's ability to continue.

Fern

I had the same reaction, but most people reading that will think "Uh, oh". And, of course, the stock market tanked in part in response to that non-news. So much for the rationality of the market. If anyone thinks GM isn't on the brink of liquidation or Chapter 11 I want some of what they are smoking.

-Robert

 

[heyheybooboo]

Originally posted by: Fern

Originally posted by: Skoorb
Link

General Motors Corp. said its auditors have raised substantial doubt about the company's ability to continue operations.

-snip-

This is the biggest 'non-news' I've heard in a while.

The CPA/auditors must include an "ongoing concern" paragraph or statement in their audit report if there is doubt that the conpamy can continue (not go bankrupt).

Given that GM itself has said they need the bailout or will fail, and the fact that everyone in America believes this to be truth, the audors would look like complete idiots and totally incompetent (and subject to lawsuits) if they didn't include this statement.

I.e., this is totally expected, the only 'news' would be if the auditors didn't raise doubts about the GM's ability to continue.

Fern

They are playing it 'for what it's worth' with the intention of dumping those 'long-term liabilities' (essentially 1/3 of their book). GM is in the crapper but they still had $166 billion in revenue the last 12 months (down from over $200 billion several years ago).

They will screw the pensioners for pennies on the dollar (& subsequently the taxpayers thru the PBGC) and screw the bond holders, slash 25% of their workforce and shutter about 4 million vehicles worth of capacity (primarily in the US, of course). Who knows what havoc this will reap on the supply chain?

I could also see some type of reverse split on their stock - maybe something like 1 for 3 (or 4? ). They may even roll-up Mopar on a 1 for 5 deal and grant partial ownership to the folks that finance them through the reorganization.

There will not be a 'liquidation', however they don't want to use the 'B' word in their 'reorganization' under the guise of the courts and the government. It will look, walk and smell like a bankruptcy, though.

I don't know how they will package it, and it may get even more ugly, but they will unload all their 'garbage' while the unloading's good.

I wouldn't want to be a Saturn or Pontiac dealer right now ...

 

[Moonbeam]

LOL! Moonie gives us a physics lesson using no actual physics.

-Robert
==============

Actually, I was trying to give a lesson in logical reasoning, namely that replying with some irrelevant but potential definition of work, when I was using it as work at a job and obviously so, doesn't have anything to do with anything, much less imply that I'm delusional, just as the definition of work in physics, while perfectly valid as a definition, has nothing to do with the subject at hand, but was much tighter as a definition than his. I suppose I could have told him he's a raspberry, and therefore an asshole, but I've always believed that if you can be stupider than the other guy he'll have a shot at insight into his own character. There is nothing quite so absurd as a mirror.

 

[chess9]

Originally posted by: Moonbeam
LOL! Moonie gives us a physics lesson using no actual physics.

-Robert
==============

Actually, I was trying to give a lesson in logical reasoning, namely that replying with some irrelevant but potential definition of work, when I was using it as work at a job and obviously so, doesn't have anything to do with anything, much less imply that I'm delusional, just as the definition of work in physics, while perfectly valid as a definition, has nothing to do with the subject at hand, but was much tighter as a definition than his. I suppose I could have told him he's a raspberry, and therefore an asshole, but I've always believed that if you can be stupider than the other guy he'll have a shot at insight into his own character. There is nothing quite so absurd as a mirror.

Ok. As long as I'm on your side of the mirror.


-Robert

 

[BoberFett]

The only thing on the same side of the mirror as Moonie is a little cake that says Bite Me.

 

[charrison]

I am beginning to think too big to fail, also means to big to keep on life support.

 

[ericlp]

I think we need to let a few companies die off. What we need to focus on is the banking system. With out loans, no car buying.

I believe we should solve ONE problem at a time and start with nationalizing the banking system. Then figure out how to get insurance companies back on track... Then we could if any money left over figure out maybe another package to the bail out them ... Tho, if we don't fix the banking system the economy and the nation will fail along with everything else.

I don't believe Obama is going to be bold enough to nationalize "FIX" the system, I believe he will hand out more money ... but oh well...... Good luck to us because we are going to need it. We need to pull together and ride this out as best as we can a lot of companies are going to fail but we can't let are banking system fail.

 

[Moonbeam]

Originally posted by: BoberFett
The only thing on the same side of the mirror as Moonie is a little cake that says Bite Me.

Yes, I have my cake and it eats me too.