UAW attempts to take over VW again in Tennessee

[Polishprince]

GM and Chrysler didn’t fail. They got out completed on quality as their management took advantage of the US consumer to always buy American. The Japanese auto makers focused on building a better car.

Actually, both Chrysler and GM did fail, they fell into bankruptcy and the Obama regime bailed out the UAW so they could be reorganized and they wouldn't lose their union contract.

Share holders, as well as creditors , got fucked over. Even those creditors who supposedly had loans secured by property.

 

[HikerGuy83]

What with the higher wages and better benefits and all. . .

Except that's not the case.

 

[HikerGuy83]

GM and Chrysler didn’t fail. They got out completed on quality as their management took advantage of the US consumer to always buy American. The Japanese auto makers focused on building a better car.

Unions in the past won hard found wages, safety measures and the 5day week.

They still are needed today as billionaire’s claim they can’t compete unless the worker is exploited for the company.

GM didn't go bankrupt ?

 

[Man With A Plan]

Working really hard doesn't get one very far. It's all about who you know. Most employers have a hatred for their best workers.

LOL...that literally might be the dumbest post I've ever seen on here. Most employers absolutely LOVE their best workers! You've obviously never owned a business and I'm guessing you've never been viewed by anyone as one of their best workers!

 

[otto105]

Have worked at a GM facility and talked to the people there, quality a function of cost.
If you have to pay dramatically higher prices to cover a union contract, that money has to come from somewhere, and usually it's quality.

I'm not sure why that's hard to understand.

Hilarious

Was the difference between a Honda and a GM/Chrysler vehicle just a cost thing?

Honda has a Union too.

 

[otto105]

GM didn't go bankrupt ?

Only if Mit Romney was elected president.

 

[initforme]

LOL...that literally might be the dumbest post I've ever seen on here. Most employers absolutely LOVE their best workers! You've obviously never owned a business and I'm guessing you've never been viewed by anyone as one of their best workers!

No they do not

 

[otto105]

Actually, both Chrysler and GM did fail, they fell into bankruptcy and the Obama regime bailed out the UAW so they could be reorganized and they wouldn't lose their union contract.

Share holders, as well as creditors , got fucked over. Even those creditors who supposedly had loans secured by property.

Wrong, the shareholders and the government were paid in full.

 

[Man With A Plan]

No they do not

You've never owned or run a business...have you?

 

[Man With A Plan]

Wrong, the shareholders and the government were paid in full.

I'm sorry Otto but that's not what happened. Go back and research your claim.

 

[HikerGuy83]

Wrong, the shareholders and the government were paid in full.

 

[HikerGuy83]

Only if Mit Romney was elected president.

How General Motors Was Really Saved: The Untold True Story Of The Most Important Bankruptcy In U.S. History

Five years after an unprecedented government bailout there's no shortage of people--including President Obama--taking credit for rescuing the most important industrial company in American history. But the truth of what happened during GM's darkest days has never been told. Until now.

www.forbes.com

 

[westwall]

You've never owned or run a business...have you?

Is it that obvious?????

 

[otto105]

I'm sorry Otto but that's not what happened. Go back and research your claim.

The Auto Bailout 10 Years Later: Was It the Right Call?

 

[Man With A Plan]

The Auto Bailout 10 Years Later: Was It the Right Call?

From YOUR cited article, Otto...

"Though GM and Chrysler eventually did get a bailout — Ford did not need help because it had fortuitously secured a large amount of financing shortly before the crisis — it was not all sweetness and light. GM shareholders were forced to take a big hit, and CEO Rick Wagoner had to resign as a condition for government help, Smetters explains."

The shareholders were NOT paid in full!

As for the public? The American taxpayer lost 9 billion dollars on that buyout.

 

[Andylusion]

Hilarious

Was the difference between a Honda and a GM/Chrysler vehicle just a cost thing?

Honda has a Union too.

Honda is not unionized.

Yes, it was a cost thing. You have two companies making a car to fit a specific price range.

If the cost of labor is 50% higher for one company over the other, you can't increase the price of the car, because the competition would have a comparable car for a significantly lower price. Your car would never sell.

But that additional cost of labor has to come from somewhere. So where it come from is lower quality. Cheaper materials, lower quality interior.

It is a cost thing. Yes.

 

[Andylusion]

No they do not

Yes they do. If they know who they are. Which not all do. But if they know who the best employees are, they bend over backwards to keep them. I have personally had managers actually come and asking me multiple times to stay on, and offer me pay raises to stay in my position. Because I was the best they had, and they knew it.

 

[Andylusion]

Wrong, the shareholders and the government were paid in full.

WHAT??!
You are crazy. You absolutely insane sir.

Ask Matt: Does new GM owe old GM investors?

Can old GM investors get money from the new GM?

www.usatoday.com

"But, unfortunately for shareholders in the old GM, the relative safety of the new GM's stock is of no value to them. Shares of the old GM are canceled."
Paid in full? What are smoking? Time to stop doing drugs my friend. Your mind is showing signs of illness.

Winners And Losers In GM Bankruptcy

Auto Workers, Taxpayers, Bondholders Have Much Riding On Expected Deal; CBS MoneyWatch's Jill Schlesinger Sorts It All Out

www.cbsnews.com

TAXPAYERS: Washington has pumped $20 billion into GM already, and it seems likely some 50 billion more taxpayer dollars will be heading into company coffers.
Thanks to how this bankruptcy was done, we don't actually know for certain how many billions GM got, contrary to the claims.

And you think we got it all back? How do you know?

And lastly the Bondholders.

GM bondholders are owed $27 billion. Now, GM is offering them 10 percent equity in a new, reorganized company.

Now this article, is clearly stupid. They claim the bondholders are winners, because they got 10% of the company. This is just another example of how idiotic and worthless our news outlets are.

Bondholders were given 10% of the company, in exchange for letting go of $27 Billion they were owed. You know how much 10% of GM is worth TODAY? $5 Billion. And that's TODAY. Back in 2008, shares were selling for $27, instead of $45 today.

Everyone was paid back? Really? REALLY? Time to get off the drugs my friend. It's messing up your mind.

 

[otto105]

WHAT??!
You are crazy. You absolutely insane sir.

Ask Matt: Does new GM owe old GM investors?

Can old GM investors get money from the new GM?

www.usatoday.com

"But, unfortunately for shareholders in the old GM, the relative safety of the new GM's stock is of no value to them. Shares of the old GM are canceled."
Paid in full? What are smoking? Time to stop doing drugs my friend. Your mind is showing signs of illness.

Winners And Losers In GM Bankruptcy

Auto Workers, Taxpayers, Bondholders Have Much Riding On Expected Deal; CBS MoneyWatch's Jill Schlesinger Sorts It All Out

www.cbsnews.com

TAXPAYERS: Washington has pumped $20 billion into GM already, and it seems likely some 50 billion more taxpayer dollars will be heading into company coffers.
Thanks to how this bankruptcy was done, we don't actually know for certain how many billions GM got, contrary to the claims.

And you think we got it all back? How do you know?

And lastly the Bondholders.

GM bondholders are owed $27 billion. Now, GM is offering them 10 percent equity in a new, reorganized company.

Now this article, is clearly stupid. They claim the bondholders are winners, because they got 10% of the company. This is just another example of how idiotic and worthless our news outlets are.

Bondholders were given 10% of the company, in exchange for letting go of $27 Billion they were owed. You know how much 10% of GM is worth TODAY? $5 Billion. And that's TODAY. Back in 2008, shares were selling for $27, instead of $45 today.

Everyone was paid back? Really? REALLY? Time to get off the drugs my friend. It's messing up your mind.

Dude, 3 million American people associated with the auto industry still had jobs because of President Obama.

Hell ya we got our money back.

 

[Andylusion]

Dude, 3 million American people associated with the auto industry still had jobs because of President Obama.

Hell ya we got our money back.

Not true. That is just flat out not true.