Workers call for stoppages, German government wants bridge loan back after GM keeps Opel

"Canuck57" said the sky is falling, again."

I never claimed otherwise. (I use to abbreviate "General Motors" as "GM", like it or not.)

And please, if it's not completely beyond your intellectual capacity: learn to quote.

Actually you did just that. It is not a question of what I "like," the fact remains you are incorrect when equate the old "General Motors" corporation to the new GM corporation. They are two comply different corporations today. The former of which no longer exists, except in the records of the bankruptcy court. Even that reference will go away when its assets have been fully disposed.

I never claimed otherwise. (I use to abbreviate "General Motors" as "GM", like it or not.)

And please, if it's not completely beyond your intellectual capacity: learn to quote.

It does not matter a bit. Whatever it's name is, but the firm "Adam Opel GmbH" has an owner (or a board of owners). This owner must decide whether to keep Opel or not. If the decision is not to sell, then fine. But don't beg for government money then. We don't want/need loosers and beggars here in Germany. But, perhaps, Ben "the Printer" Bernake can help with future american tax dollars trannsfered to the present with that wonderful machine the FED owns, the printing press?!

You are still confused. The owner, as you call, it is the bankruptcy court, charged with dispose of the remaining assets of the debunked "General Motors."

The US government has nothing to do with the former "General Motors." The US government is invested in "GM," not "General Motors."

If the bankruptcy court can not sell Opel, Hummer, Saturn or Pontiac as operating companies, it will be obligated under the bankruptcy law to sell off their assets.

I should be noted that "GM" is scheduled to begin paying back its US government loans starting in the next quarter, with a 1.5 billion payment and will repay the loans a year sooner than required.

As to BO and the Congress, spending money we so not have and trying to socialize our heath care system, I agree, that is lunacy. We could end up like the counties in Europe that are economic disasters surviving on inflation that is raising the cost of doing business their to the point European manufactures are moving their manufacturing off shore to the US and the far east.

It does not matter a bit. Whatever it's name is, but the firm "Adam Opel GmbH" has an owner (or a board of owners). This owner must decide whether to keep Opel or not. If the decision is not to sell, then fine. But don't beg for government money then. We don't want/need loosers and beggars here in Germany. But, perhaps, Ben "the Printer" Bernake can help with future american tax dollars trannsfered to the present with that wonderful machine the FED owns, the printing press?!

Maybe the US should ask for all the money we had to pour into Germany after WW2 and all then money US spent on employing German citizens since, Germany didn't stop begging then.

I is somewhat ironic that the things that the Germans are export to the US were made in factories built, under the Marshal plan, with US taxpayer money.

If this were so, why then did they not sell to Magna? Remember, there was already an agreement reached in the summer.

Who cares?

Yes, they can! This is just my point.

Tom, I really didn't intend to violate your patriotic feelings. Look, I do not have a bad opinion about the current owner of Opel because it is american. On the contrary. I have a bad opinion because they can't or won't decide whether to sell or not, and are obviously playing games to get tax money. And this is - or, at least, was at some time - un-american, is it not?

The "US" employed germans, so what? Under conditions of freedom it is so that such is a benefit for both the employer as well as the employee.

And yes, of course, what the US did for modern germany in and after WW2 will never be forgotten. But is this a reason to back a firm on the grounds that this is (or was) somehow*) an US firm?

*) In modern stock markets, the notion of a firm "belonging" to a certain nation does not really make sense anymore.

I think you overestimate the impact of the Marshal plan a bit. And please, do not forget, that germany is also exporting factories and jobs to the US, as you yourself correctly pointed out in another post.

I think VW just received around 500 mil in state taxpayer assistance to build their factory VW did the same in Pa. received taxpayer money and inferstructue improvements and 10 year tax relief, at the end of 10 years guess what they moved it to mexico. If you check Mercedes, And BMW also received taxpayer money to move into the US. By the way Sony moved into the vw factory used more tax money then 10 years later they closed it down. if foreign companys can keep making fools out of our govt. we should be able to do it to others.

You mean, two wrongs make it right?

Ask the bankruptcy Judge, I'll bet he can tell you LOL

If this were so, why then did they not sell to Magna? Remember, there was already an agreement reached in the summer.

Who cares?

Yes, they can! This is just my point.

You bet they are, because of the socialism in Germany and Europe it is less expensive to build what they sell in the US, in the US.

Some>> I is somewhat ironic that the things that the Germans are export to the >> US

The Japs have been doing the same thing in the US. Then taking all of the profits they earn in the US, back to Japan US federal corporate tax free. The Jap government turns around and gives the money back to the corporations for R&D. Greedy American consumers could not care less, it seems

This is partly correct.

Last time I checked it was the "american consumer" who carried the terrific burden of consuming the lions share of all that stuff that is produced world wide, just to get the economy going, while paying with extremely precious, freshly printed paper money. :-) (Is it really true that there exist people that honestly believe this kind of crap?)

But you seem to think that the US is much different regarding "socialism"? Perhaps this might help:

" ... What this brief account has shown is that the politico-economic system of the United States today is so far removed from laissez-faire capitalism that it is closer to the system of a police state than to laissez-faire capitalism. The ability of the media to ignore all of the massive government interference that exists today and to characterize our present economic system as one of laissez-faire and economic freedom marks it as, if not profoundly dishonest, then as nothing less than delusional. ..."

Prof. Reisman also writes in his blog about GM in June this year: " ... In its last years, the company was reduced to the status of a =93benefits=94 company, a company existing primarily for the purpose of paying the pensions, medical benefits, and exorbitant wages of the UAW members. In its last year, the company was reduced to the status of a beggar-benefits company, as it repeatedly turned to the Federal government for the billions of dollars that were needed to keep it in existence for just the next few months, in the hope that in that time a miracle would appear that would allow it to survive."

Looks like money from a single government is not enough anymore to continue the US/UAW socialism. Now, the europeans are supposed to continue the endless bailout? No, thank you. Let this stinking carcass rest in peace.