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What do you make of this news about GM.

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Originally posted by: TwiceOver
I'm OK with this decision. GM was running a non sustainable business, it was only a matter of time before failure. Letting that much company fail would probably be bad, so why not throw a bunch of money at it. The new restructured company can say fuck off to those deadbeat union workers that aren't working but getting paid and benefits. Then maybe GM will be competitive with other car manufacturers and we can see some prices coming down.
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Except it won't work that way. With a government managed bankruptcy, the bankruptcy deal will be favorable to the unions like it was with Chrysler where the unions ended up with a 55% ownership stake in Chrysler even though they were in an unsecured minority position.

If they truly want GM to restructure and come back, they'll let the courts manage the bankruptcy according to accepted laws and practices.

This isn't about that though. This is about a grab for power.
 
Originally posted by: Cuda1447
The government wants more power, more control. I can't, for the fucking life of me, figure out why anyone in this country is supporting MORE GOVERNMENT in our lives. MORE MORE MORE, thats all it fucking is. There are some positives that government can bring, but those are few and far between. More government, as a rule, is always fucking bad. Look at history. Let the people run their own damn lives, they do it better than you, even if they suck at it at times. As a general rule, when in doubt, say no to government intervention.


*edit*

The only thing I want my government doing is protecting me from foreign threats, upholding the law and just keeping a general watchful eye on the country. I don't need them running my companies, or any other BS they are getting their hands in.
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The answer is simple, security or at least the feeling of it. It looks to me that a lot of people are willing to trade freedom for security, and they don't even haggle over the price.
 
Here's what I'm going to do: Wait for GM to come out of bankruptcy procedings, then buy their stock like crazy. With all the cost cutting they did, it shoud kick in around 1st/2nd quarter of 2010. I bet we're going to see shares in the $20-$30 range after that.

There's some risk, but if this goes smoothly, this could be a huge opportunity.
 
declare chapter 11 and screw government control. the US government has NO business trying to run a business. congress can't keep itself out of debt, how can they possibly expect to have a real company run profitably?
 
Originally posted by: TehMac
Who gives a shit, jpeyton is just trying to piss you off for brazenly stating in a higher traffic area that his messiah condoned the failed Bush-Keynsian policy and helped blow billions of dollars of tax payer money only to come to the conclusion that guess what?

Free marketeers were right, GM's best and only real course of action was to declare bankruptcy.
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If they wouldve went bankrupt without federal aid, it wouldve been chapter 13, not 11.
 
Originally posted by: Acanthus
Originally posted by: TehMac
Who gives a shit, jpeyton is just trying to piss you off for brazenly stating in a higher traffic area that his messiah condoned the failed Bush-Keynsian policy and helped blow billions of dollars of tax payer money only to come to the conclusion that guess what?

Free marketeers were right, GM's best and only real course of action was to declare bankruptcy.
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If they wouldve went bankrupt without federal aid, it wouldve been chapter 13, not 11.
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And during the worst part of the reccession too.
 
Originally posted by: ggnl
Originally posted by: Acanthus
Originally posted by: TehMac
Who gives a shit, jpeyton is just trying to piss you off for brazenly stating in a higher traffic area that his messiah condoned the failed Bush-Keynsian policy and helped blow billions of dollars of tax payer money only to come to the conclusion that guess what?

Free marketeers were right, GM's best and only real course of action was to declare bankruptcy.
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If they wouldve went bankrupt without federal aid, it wouldve been chapter 13, not 11.
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And during the worst part of the reccession too.
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Who says the worst part has already happened? Its still coming IMO.
 
Originally posted by: acheron
Remember when there was talk of investing "our" Social Security money in stocks? And it got shot down like a nerd hitting on a cheerleader? I like how we're basically doing that now anyway, except only investing in failing companies.
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LMAO, too true. I hadn't even really thought of that angle but it's absolutely correct. When Republicans talked about privatizing social security the Democrats screamed and cried about how we would be throwing our future away on the stock market. Now the Democrats can't seem to throw enough taxpayer money at the stock market. What a bunch of hypocritical losers.
 
Originally posted by: BoberFett
Originally posted by: acheron
Remember when there was talk of investing "our" Social Security money in stocks? And it got shot down like a nerd hitting on a cheerleader? I like how we're basically doing that now anyway, except only investing in failing companies.
Click to expand...

LMAO, too true. I hadn't even really thought of that angle but it's absolutely correct. When Republicans talked about privatizing social security the Democrats screamed and cried about how we would be throwing our future away on the stock market. Now the Democrats can't seem to throw enough taxpayer money at the stock market. What a bunch of hypocritical losers.
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Do you honestly believe they are planning on taking a permanent stake in GM?

There's a big big difference between a one time intervention during an unprecedented economic slowdown and the privatization of Social Security.
 
Originally posted by: rh71
isn't our gov't in debt too? 😕
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Nobody cares. Its somebody elses problem, not ours. When the US defaults in 5 years or less after bailing out California over and over, and the dollar is worth .000000001 cent each, then we will care. Not until then, however.
 
Originally posted by: ggnl
Originally posted by: BoberFett
Originally posted by: acheron
Remember when there was talk of investing "our" Social Security money in stocks? And it got shot down like a nerd hitting on a cheerleader? I like how we're basically doing that now anyway, except only investing in failing companies.
Click to expand...

LMAO, too true. I hadn't even really thought of that angle but it's absolutely correct. When Republicans talked about privatizing social security the Democrats screamed and cried about how we would be throwing our future away on the stock market. Now the Democrats can't seem to throw enough taxpayer money at the stock market. What a bunch of hypocritical losers.
Click to expand...

Do you honestly believe they are planning on taking a permanent stake in GM?

There's a big big difference between a one time intervention during an unprecedented economic slowdown and the privatization of Social Security.
Click to expand...

Do you mean before or after they've run Ford out of business because Ford can't compete with a company that has no profit motive (being taxpayer funded and all) leaving GM as the sole auto manufacturer and it becomes a point of national security to maintain a US owned automaker?
 
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