There will be many, many more bankrupt companies as Obama's policies continue to
Soooooooo, tell me how the future taxpayer bailout money is working out?Should have listened to the people 6 months ago that DID NOT WANT
THIS!This is not about Repub. or Democ., this is all about
politicians doing what they want, remember they didn't even read that 1,000 page
'Stimulus' bill ... They don't care, vote them all out!
Government Motors is a disaster! Give us back our $50 billion. I have better
investments. Give us our money back.
GM pays out more in union benefits than it earns by selling its cars. Bankruptcy
here we come! Thanks to the UAW!
These companies went bankrupt due to greed and mismanagement, not to President
Obama. Trying to scapegoat our president for that is really lame.
GM went bankupt because they can't sell their cars for enough money to pay their
expenses, including taxes and government mandates.
LOL - Those greedy corporate types - you make me sick.Obama gave you
$50 Billion, and you're still going bankrupt. I can't wait for Obama to save
GM, just like I can't wait for Obama to save America.Obama is
awesome. He is changing America in so many good ways. Capitalism does not
work. How long till your closed minds realize this. Governmet is the
solution!Look how good things are going in China! Look at Russia,
France, Sweden... you get the idea. Government will make all our lives better.
Those countries really care for the "workers".I can't wait to get my
first GM check in the mail from Obama.Obama is Awesome!!!
I hope the UAW union is dead and gone, their greed was out of control and if
anyone is responsable for the collapse of the American auto industry its these
Look at China, Russia, Sweeden. Have you ever been to any of these places?
explain to me why china and russia have so much poverty? big government doesnt
take care of its people. i understand when you talk about sweeden. socialism
has its perks, but are you willing to pay 80% of your income in taxes? i highly
doubt it. maybe you think before you write such an idiotic comment.
You're clueless and so uneducated!
Legislation was passed after the Enron collapse that requires employers (public
& private) to fund current retiree benefits and put aside money for future
retirees at the same time. GM has more retired employees on the payroll than
current employees. It is these rich retirement benefits that are killing GM.
Foreign manufacturers in the US have not been here for thirty years,
thus have no current retirement (legacy) costs. Workers in both domestic and
foreign plants make about the same in current wages, retiree costs are the
difference. CEOs get golden parachutes, workers get a retirement and the
companies cannot afford to operate. Obama did not create this mess,
he inherited it. I wish him well trying to fix the mess corporate greed (Enron
& others) created. Good luck Mr. President, you have my support.
What's sad is that GM had one of the solutions to America's energy crisis, but
killed it off to preserve the status quo. The solution that GM was trying to
bring back, and Toyota is planning to launch next year is the plug-in electric.
Yes, GM had one in the mid-1990s. It wasn't perfect, but think if GM had stuck
with the car, perfected it over the past 15 years, perhaps today, GM would be in
Toyota's position today -- leading the world with the cleanest,
cheapest-to-operate car (yes, electricity is only 1/4 the cost of gasoline), and
we wouldn't be facing the coming run up in oil prices that is now $2.50 a gallon
and anaysts are predicting will be $4 by next year again. Plug-ins could be
better than Priuses. Oil dependency is the core problem facing
America -- from its funding of terrorism to America's military needed to patrol
oil route around the world to its gouging of the middle class. Why did GM focus
on gas guzzlers post-9/11? Stupid corporate leaders who resisted demands for
fuel efficiency and kept drivers addicted to oil.
So if the tax payers own 60% of GM...Does that mean that we all will get a gut
of any new profits to be mad down the road?????? LOL
GM built the trucks and suvs we want. The problem is the union took to much of
the money. Obama motors is doing nothing to reduce union expenses.The whole plan
will fail and the community organizer will look like an idiot.
Bottom line, it seems to me that our president snagged a whole bunch of perks
for all of us taxpayers, right before he did what he was going to have to do
anyways, with, or without owning 60% of GM, we were going to have to bail this
company out! Without General Motors and their daily shopping list with thier
suppliers, this country literally could have been brought to its roots. I'm
talking about horse and buggy days revisited!Toyota, for example, acquires
30% of its materials to build its auto's from the same suppliers that supply GM
with its parts. Ford, and Chrysler also require these suppliers to help them put
their cars together. Without GM these suppliers would immediately be bankrupt,
leaving the other auto manufacturers in worse shape than they already are.
Toyota has over 40 billion dollars in Cash...CASH! They OWN their company
outright! Ask yourself what you would do in that situation??? You would cut your
losses as they have stated that they would, and you would cash out before you
became a statistic like your American predecessors. Plus, you get the coveted
Victory in the auto game.Thanx Mr President
You mean socialism doesn't work?? Shocking.
Okay all you socialists who have been singing the unions' praises, demanding
artificially inflated wages, and trying to exclude foreign products from the
American market. I've got two words for you - General Motors.And,
thank you Obama, Bush, and all you other self-serving and greedy politicians for
my stake in GM. Good to know that the government can force me to buy into a
company that has proven its ineptitude over and over again.
Blaming Obama for any of this is cheap partisan garbage. This started long
before the election, as did the government intervention. Comments so far are
mostly made by ignorant know-nothings. Get the facts and leave your right-wing
hate behind. No one wanted this, particularly the current Administration nor
the Bush Administration. And blaming the unions is wrong. It is a poor
re: More coming | 9:17 p.m. May 31, 2009 Barack is saving capitalism
from itself & the last administration. The plan is for the Federal Government to
fully divest all of its shares in 6 to 18 months.What bothers me is
that the Unions are making of like bandits.There was a special on
CNN where some worker was whining because his kids would not be able to live at
the lower end of the payscale ($13 to $14/hr).
He's no FDR!!! Or did he mean F inancial D isaster R ock-star?
It wasn't just mis-management in these failed Automotive companies that brought
them down (i.e.: GM, Chrysler, and the Auto Industry as a whole); but
$3.00-$4.00/gallon gas for three successive summers, a failed banking industry,
and a very corrupt UAW...hum, it make you wonder who is running the show behind
the scenes... You never hear anything but: Detroit hasn't been making what the
people want...Oh really? Why were we able to sustain a demand for nearly 16
million SUV's, Trucks, and the kind of cars we've been driving for the past 20
years when the economy was good???...BECAUSE THAT IS WHAT WE WANTED!!!! Now
we'll be driven to buy 4-door yugo tin-cans (in the name of global warming) that
no one will ever buy! So how does that "Stimulate your wallet" ???Anyone that believes any of the "bull-cookies" that the Dems are spoon-feeding
us about: "global-warming this and "please think green" that is just plain
stupid! Wake up America, NOBAMA is destoying this country faster than you can
re: Anonymous | 9:00 a.m. June 1, 2009 //And blaming the unions is
wrong. It is a poor management situation.//No, its not wrong to
blame the Unions. They and the management are both to blame.Here is
what gets me. The media saying that GM needs to build small cars like that
should be their exclusive objective. NO!There need to be less
compacts, subcompacts, Humungous Trucks/SUV's. There doesn't need to be
anything larger out there than a Suburban and those s/b rare. Same goes for
Aveos, etc...What GM needs to do is build reliable, dependable mid
size cars and trucks i.e. Cadillac CTS's, Buick Lucerene's, Chevy Impala's &
Malibus, & GMC Canyons.
Good think the federal government didn't pour billions of dollars to those car
companies, because they are too big to fail and go into bankruptcy. Oh
wait. I guess the politicians will be sending out their apology
press releases to explain why it didn't work.Oh wait.If you
want to know what wrong with this country, look to the "leadership" in
Washington DC found in congress and the White House. PS you can
find lots of "leadership" problems both this year AND last.
. . . that the automakers would be better off going through bankruptcy before
they accepted billions in bailout money that did nothing but go down the rat
hole, and who was criticized routinely in the press for such an outrageous idea?
Oh yeah, that would be Mitt Romney.
I have always bought american...but will not support government motors or
chrysler... running out of options.
Buying a new Govt Motors Auto is just doing business with the DMV.....next up
DMV Healthcare!Obummer out in 4!
It's a good thing the government hasn't poured in millions of tax dollars to try
and help the auto company before this!!! I know General Motors as Government
Motors will be in MUCH BETTER HANDS as the Government owns the majority of the
company! That will make them so much leaner and meaner it will make a HUGE
DIFFERENCE! The government, the guys who collect your taxes, run the executive,
legislative and judicial branches, and the Post Office! Oh, don't forget how
successful Amtrak is!!! How can GM fail now!!! Wow are they in trouble or what?
to "Who to buy now" I hate to even have to point this out to you but....you
might ought to re think that there jethro. YOU OWN THE COMPANY! Are you kidding
me!? Think man, Think.If you're biggest concern is what brand you should
buy next...my guess is that it will be the same brand you drive now...OLD and
WORN OUT, with a great radio and at least 3 mag wheels(savin up fer the othern
cuz the spare was on'er when ya took'er home, guy befor you musta sold the other
mag one huh)My goodness use your head bro.
It seems to me that Jim Matheson voted for the $50 Billion bail-out. Has anyone
asked him how we are getting that money back?
This is wrong. Government cannot buy businesses. It needs to stay out of the
private sector. I can't run social security, welfare, a post office, how will
gov. run a car company. Where's the billions in bail outs. This is a black
hole an it is wrong.
you should stick to sports commentary ... seems to me you might understand that
better than you do economics..
Craig said, "Obama motors is doing nothing to reduce union expenses."That is not true. A simple reading of news reports would show you that the
president required stiff concessions from the union, and the union agreed to
them.It is clear that many on this board are prejudiced against the
president. This type of mindless hatred will weaken our country.
Of course Union ataleast partly to blame,UNions are nothing but big
businness themselves, with CEOS's, big shiny buildings, lawyers, lobbyists,
etc,whose product is labor,all they care about is gettng
whatever they can for their "product",and they do not care who get
hurts,they do not care about their "product", the laborers who work
for them,they do not care about businesses who "buy" their labor.The unions CEO's and corporations, only care making a profit.So yeah, they are partly to blame.
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