gm to be "sold" to the unions....

Discussion in 'Economy' started by manu1959, May 19, 2009.

  1. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    :eek: nice....

    GM bankruptcy plan eyes quick sale to government | Deals | Reuters

    NEW YORK (Reuters) - General Motors Corp's plan for a bankruptcy filing involves a quick sale of the company's healthy assets to a new company initially owned by the U.S. government, a source familiar with the situation said on Tuesday.

    The government's plans include giving stakes in the new company to GM's union and bondholders, although the ownership structure of the company is still being negotiated, said the source who is familiar with the company's plans.
     
  2. DiamondDave
    Offline

    DiamondDave Army Vet

    Joined:
    Jun 30, 2008
    Messages:
    18,169
    Thanks Received:
    2,812
    Trophy Points:
    183
    Location:
    MD, on the Potomac River
    Ratings:
    +2,816
    And the power grab and payoff begins
     
  3. DavidS
    Offline

    DavidS Anti-Tea Party Member

    Joined:
    Sep 7, 2008
    Messages:
    9,811
    Thanks Received:
    766
    Trophy Points:
    48
    Location:
    New York, NY
    Ratings:
    +767
  4. Vel
    Offline

    Vel Gold Member

    Joined:
    Oct 30, 2008
    Messages:
    5,463
    Thanks Received:
    1,913
    Trophy Points:
    248
    Location:
    Tennessee
    Ratings:
    +1,914
    I wonder how Ford is going to react to having to compete with the federal government? It doesn't seem fair that they should have to compete with the same entity that determines all the rules.
     
  5. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    the feds are giving it to the unions and and the banks....

    but i imagine ford would be thrilled.....soon they will be the only game in town....ahhh but then they will be ruled a monopoly and broken up....like us steel ...... and that will be the end of american car companies....
     
  6. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    uh,,,,,,,,,,,,,,why does no one seem to care the the government is buying a private company and givinging it to the union....
     
  7. Vel
    Offline

    Vel Gold Member

    Joined:
    Oct 30, 2008
    Messages:
    5,463
    Thanks Received:
    1,913
    Trophy Points:
    248
    Location:
    Tennessee
    Ratings:
    +1,914


    I don't know that Ford is going to be thrilled. What's more likely is that the government will continue to prop up a union controlled GM, leaching just enough business away from Ford to keep them from being very profitable. It's a similar situation to independent retail stores that have to compete with chain stores.
     
  8. Sinatra
    Offline

    Sinatra Senior Member

    Joined:
    Feb 5, 2009
    Messages:
    8,013
    Thanks Received:
    1,005
    Trophy Points:
    48
    Ratings:
    +1,005
    Just another WTF political/economic moment in an era full of them these days.

    I do know this - Ford sales will spike up. People will buy Ford because it is seen as "American". Chrysler and GM are becoming state-run companies, much like when the Soviets made those awful cars back in the day.

    I apologize for my profanity - but I say fuck Obama, fuck GM, fuck Chrysler, fuck the unions. And if some of you leftist statists in here don't like that, well fuck you too.

    If I ever buy an American car again, it will be a Ford.




    PS, Fuck Nancy idiotic lying waste of San Francisco space, Pelosi as well.
     
    • Thank You! Thank You! x 3
  9. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    well ford is pretty diversified in europe and asia so they could just close up shop here and leave the auto industry to the union / govt run gm/chrysler us auto company....
     
  10. Vel
    Offline

    Vel Gold Member

    Joined:
    Oct 30, 2008
    Messages:
    5,463
    Thanks Received:
    1,913
    Trophy Points:
    248
    Location:
    Tennessee
    Ratings:
    +1,914



    Yep. I think we just bought our last Chrysler product in December. I hate it because our last 6 vehicles have been Dodge/Chrysler/Jeep. I am glad that we were able to get the Challenger before the government takeover though.
     

Share This Page