Tax Breaks vs. Auto Bailout

[Genx87]

Originally posted by: BarneyFife

Originally posted by: Genx87

Originally posted by: JS80
What about Chapter 11 reorg kill the unions and legacy costs?

This is Big Union I mean Big Auto here. We cant have them do what every other business does that has a failing business model!

So you're going cancel all the pensions? The government will pick up the tab then.

Shouldnt the Big 3 have been paying into their Pension plans and paid the premium to the Pension benefit guaranty corporation? Where did the cash go?

 

[JS80]

Originally posted by: miketheidiot

Originally posted by: JS80
What about Chapter 11 reorg kill the unions and legacy costs?

why so the government can take over their obligations?

Yes, versus every 15 years having to "bail" them out again. At least this way we can get rid of the union. I'd pay a premium to kill the union.

 

[winnar111]

Originally posted by: JS80
What about Chapter 11 reorg kill the unions and legacy costs?

Better yet, take their useless $25b CAFE loan and use it for operations.

They already have the money....the Democrats just want to lock it in the bank.

 

[woodie1]

Today I noticed the bailout figure has risen to $34B and some economist testified that it would take $75-125B to make them whole again.

Let them die and get this nightmare over with.

 

[Eeezee]

I think all 3 ideas suck.

I don't see anything wrong with letting these companies die. That's capitalism.

 

[LegendKiller]

So, what happens when the person goes to get financing, but can't?

Nissan closed a securitization a short while ago.

Weighted average FICO was 750. AAA rated, very well enhanced. AAA 3.5 year bonds priced at L+450. AAA 3-month money market tranche at L+75.

That's absolutely ridiculous, no wonder why nobody is lending, it makes no sense to.

I love people who claim it's "capitalism". Hey, I'll shoot myself in my dick, it's capitalism!

 

[SigArms08]

Originally posted by: JS80

Originally posted by: miketheidiot

Originally posted by: JS80
What about Chapter 11 reorg kill the unions and legacy costs?

why so the government can take over their obligations?

Yes, versus every 15 years having to "bail" them out again. At least this way we can get rid of the union. I'd pay a premium to kill the union.

There are many more people that would be impacted other than UAW members. Think designers, engineers, suppliers, plant/bldg support services....then look to regional disruptions that would force restaurants, retail stores, hospitals, city gov't incomes (tax revenue lost), state gov't incomes, federal, etc.

The scope of this is much larger.

What bailout occured 15 years ago, JS80? Do you recall what happened with the loan that was made to Chrysler about 27 years ago?

 

[miketheidiot]

Originally posted by: JS80

Originally posted by: miketheidiot

Originally posted by: JS80
What about Chapter 11 reorg kill the unions and legacy costs?

why so the government can take over their obligations?

Yes, versus every 15 years having to "bail" them out again. At least this way we can get rid of the union. I'd pay a premium to kill the union.

gm hasn't had to be bailed out since the great depression iirc, and there is nothing in chapter 11 that wouldn't mandate the death of the union. Chrysler was bailed out 30 years ago, and the government made money on the deal iirc.

stupid posts like that do nothing to give you any credibility, they only make you look like a pissy intellectual child.

 

[miketheidiot]

Originally posted by: winnar111

Originally posted by: JS80
What about Chapter 11 reorg kill the unions and legacy costs?

Better yet, take their useless $25b CAFE loan and use it for operations.

They already have the money....the Democrats just want to lock it in the bank.

quoting this simply because i agree with you (rare event:Q)

 

[CPA]

Originally posted by: miketheidiot

Originally posted by: CPA
You know Dell just announced a ton of layoffs, I think we should get a taxbreak for computer purchases.

Oh, and Philips is now lowering their forcast for Q2 2010, how about a taxbreak for purchasing Plasma HiDef TVs.

Oh, and let's not forget about Circuit City closing stores and filing bankruptcy, so how about a taxbreak for all of the other electronic crap that's not covered by the first two.

all those companies are minor players at best, including dell.

Are you aware of the size of Philips and how many industries and suppliers it touches?

But that doesn't matter, you missed my point entirely.

 

[BarneyFife]

Originally posted by: JS80

Originally posted by: miketheidiot

Originally posted by: JS80
What about Chapter 11 reorg kill the unions and legacy costs?

why so the government can take over their obligations?

Yes, versus every 15 years having to "bail" them out again. At least this way we can get rid of the union. I'd pay a premium to kill the union.

Have fun making $10 hour with global wages.

 

[bctbct]

Any tax incentive needs to be tied to domestic content.

 

[SP33Demon]

Your plan > any bailout for them. /concur