Top Republicans Call for GM to Declare Bankruptcy

[WillowTree]

General Motors should hand over the factory keys to a bankruptcy court, two top Republicans said Sunday.

Sen. John McCain, R-Ariz., said the best thing for the ailing automaker to do would be to go into Chapter 11 to reorganize some of its business agreements and come out stronger than before.

"I think the best thing that could probably happen to General Motors, in my view, is they go into Chapter 11, they reorganize, they renegotiate ... the union-management contracts and come out of it a stronger, better, leaner, more competitive automotive industry," McCain told "FOX News Sunday."

House Republican leader John Boehner said the nation's largest auto company must demonstrate a viable and long-term business plan if it wants more federal money.


Top Republicans Call for GM to Declare Bankruptcy - Presidential Politics | Political News - FOXNews.com






finally!

 

[Xenophon]

This should have been done instead of handing them taxpayer dollars.

 

[Zoom-boing]

'Bout freaking time.

 

[Ravi]

Wait, I thought we didn't want government to tell business what to do.

 

[editec]

Just what we need...more layoffs.

 

[WillowTree]

Just what we need...more layoffs.

re-structring is key!

 

[jillian]

Wait, I thought we didn't want government to tell business what to do.

they only like government when it says what THEY want it to...

not that they weren't wrong for eight years or anything...

 

[toomuchtime_]

General Motors should hand over the factory keys to a bankruptcy court, two top Republicans said Sunday.

Sen. John McCain, R-Ariz., said the best thing for the ailing automaker to do would be to go into Chapter 11 to reorganize some of its business agreements and come out stronger than before.

"I think the best thing that could probably happen to General Motors, in my view, is they go into Chapter 11, they reorganize, they renegotiate ... the union-management contracts and come out of it a stronger, better, leaner, more competitive automotive industry," McCain told "FOX News Sunday."

House Republican leader John Boehner said the nation's largest auto company must demonstrate a viable and long-term business plan if it wants more federal money.


Top Republicans Call for GM to Declare Bankruptcy - Presidential Politics | Political News - FOXNews.com




finally!

Bankruptcy needn't mean the end of GM. If GM can use the bankruptcy court to renegotiate its debt and union contracts and obligations, it can emerge as a leaner, stronger, more competitive company. The suggestion that people will stop buying GM cars while it is in bankruptcy can be handled by the government offering to guarantee warranties and the availability of spare parts and expressing confidence that restructuring in bankruptcy court is a good thing for the industry. On the other hand, a credible threat of going into bankruptcy might be sufficient to get reluctant unions and creditors to allow this restructuring without going to court.

It is disappointing, however, that Obama has put Axelrod and Emanuel, two political advisors with no business background, in charge of the auto industry rescue issue.

 

[WillowTree]

Wait, I thought we didn't want government to tell business what to do.

we don't,, let them solve their own problems. and conversely if GM dosen't want governments advice then don't try to suck money out of us.. ya know how when you always go to yer mama and ask for money she starts right back in treating you like a child??

 

[Ravi]

Wait, I thought we didn't want government to tell business what to do.

we don't,, let them solve their own problems. and conversely if GM dosen't want governments advice then don't try to suck money out of us.. ya know how when you always go to yer mama and ask for money she starts right back in treating you like a child??

I wouldn't know, my mother is in no position to give me money.

Perhaps you should change your thread title. The way it is written is that Republicans are trying to tell business what to do.

 

[sealybobo]

Why does the GOP want the government to pick up the tab when GM goes bankrupt and renigs on all those pensions?

Sounds like another circumstance where the GOP wants to help the Corporations break the unions and fuck the workers.

This story proves the GOP is all about lowering our wages, helping corporations renig on promises, hurting the middle class, AND, have the government pick up the tab.

I bet the GOP helped Enron do what they did.

Why not? They seem to be encouraging GM to do the same thing, basically.

GM and Ford were profitable in 1999. Bush got in the white house and the GOP had control of Congress and look what happened.

 

[rayboyusmc]

Why not the same for the banks we have been giving billions to?

 

[WillowTree]

Wait, I thought we didn't want government to tell business what to do.

we don't,, let them solve their own problems. and conversely if GM dosen't want governments advice then don't try to suck money out of us.. ya know how when you always go to yer mama and ask for money she starts right back in treating you like a child??

I wouldn't know, my mother is in no position to give me money.

Perhaps you should change your thread title. The way it is written is that Republicans are trying to tell business what to do.

Very nice try.. but no,,,,, sorry I didn't write the thread title,, that's the way she came with the article.. and yes,,,,,,GM is begging for money and yessss, the Republicans are trying to tell them what to do,,,,,now listen carefully,,,, if GM weren't begging for money,,,,,,,,,the Republicans would be in no position to tell them what to do? easy concept,,, just dwell on it for a week or two.. eventually it will come to you.

 

[WillowTree]

Why does the GOP want the government to pick up the tab when GM goes bankrupt and renigs on all those pensions?

Sounds like another circumstance where the GOP wants to help the Corporations break the unions and fuck the workers.

This story proves the GOP is all about lowering our wages, helping corporations renig on promises, hurting the middle class, AND, have the government pick up the tab.

I bet the GOP helped Enron do what they did.

Why not? They seem to be encouraging GM to do the same thing, basically.

GM and Ford were profitable in 1999. Bush got in the white house and the GOP had control of Congress and look what happened.

that don't scare nobody,, most people have already lost their pensions and your boy wonder is rolling back stem cell research

 

[sealybobo]

Why does the GOP want the government to pick up the tab when GM goes bankrupt and renigs on all those pensions?

Sounds like another circumstance where the GOP wants to help the Corporations break the unions and fuck the workers.

This story proves the GOP is all about lowering our wages, helping corporations renig on promises, hurting the middle class, AND, have the government pick up the tab.

I bet the GOP helped Enron do what they did.

Why not? They seem to be encouraging GM to do the same thing, basically.

GM and Ford were profitable in 1999. Bush got in the white house and the GOP had control of Congress and look what happened.

that don't scare nobody,, most people have already lost their pensions and your boy wonder is rolling back stem cell research

You are in the minority now. You are part of a subculture now. Now, you are just a whiner who's got a bunch of conspiracy theories.

And I love stem cell being funded by you and me. I LOVE IT!!!

 

[DiamondDave]

Wait, I thought we didn't want government to tell business what to do.

It's not telling them what to do in terms of force.. rather that this is what SHOULD be done or should have been done instead of forking over taxpayer dollars...

Bankruptcy and restructuring and redoing the INANE labor contracts they have would be ESSENTIAL in the recover of the 'auto giant'... it is probably the best way for them to take a breath, start over, and restructure to compete better in the modern auto market... it certainly would NOT be the end of GM

 

[DiamondDave]

Why not the same for the banks we have been giving billions to?

I think it should be the same for the banks... some must "fail" or be consolidated into larger institutions.. some should merge and play off the strengths of each other, reduce workforce size, and re-budget to come out of the mess...

Many conservatives have been screaming this all along as well

 

[sealybobo]

Wait, I thought we didn't want government to tell business what to do.

It's not telling them what to do in terms of force.. rather that this is what SHOULD be done or should have been done instead of forking over taxpayer dollars...

Bankruptcy and restructuring and redoing the INANE labor contracts they have would be ESSENTIAL in the recover of the 'auto giant'... it is probably the best way for them to take a breath, start over, and restructure to compete better in the modern auto market... it certainly would NOT be the end of GM

Bullshit! The Corporation gets the billions in bailout AND they get to break the unions? And they get to renig on the Pensions? And the government has to pick up the tab?

The GOP really hates labor and America.

 

[sealybobo]

Why not the same for the banks we have been giving billions to?

I think it should be the same for the banks... some must "fail" or be consolidated into larger institutions.. some should merge and play off the strengths of each other, reduce workforce size, and re-budget to come out of the mess...

Many conservatives have been screaming this all along as well

Thus consolidating power. Win win for the rich bankers.

 

[midcan5]

Republicans need to shut up, they had their chance and failed. Losers telling others what to do is a bit much. If we can bail out financial industries that rob and steal and send money to foreign places, we can surely bailout an American institution that many Americans rely on for their livelihood. And please change 'top' to loser. thanks

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