I Gm would have folded like a few wanted what would have happened.
600K would have been added to the PBGC rolls
6,000 dealerships would have been closed
hundreds of suppliers would have folded or downsized
tool shops would have closed
engineering shops would have closed
3 to 400,000 people would have lost jobs
many communities would have lost a large tax base
the federal and state govts would have lost billions in tax revenue.
Chrysler would have folded immedately
Ford with their high debt load would have a rough time making it if they
The toyotas of the world would no longer have to put up the sham that they
The US would have went into deeper financial trouble if not Depression.
all the warrenties would have to be paid for by the Govt if at all
many foreign countrys would have felt the pain also.
Is this want you want to see????? sure sounds like it. maybe it will come
and I hope your 1st in line.
When companies go bankrupt then everything happens straight away.
Shareholders and banks lose money.
Lots of people out of job immediately.
Lots of new companies start straight away.
Most people get job immediately again.
Skills are available and soon very many prosperous companies pop up.
When you let company like GM die slowly on taxpayers money then the
banks get their money back.
Shareholders, management and owners can keep on robbing the company
The most skilled people leave.
After some time whole communities are left in disarray without skills,
Slums come with crime and drugs.
So that is the reality and has happened all over the world.
Bad companies without a vision or future have to die and let new
The former is called capitalism and the latter socialism.
So what do you want capitalism or socialism?
Looks to me that some people want to keep the banks and robbers happy
Your dreaming, in a down turn it would have been months before any amount of
people would have found a new job an it would have been a lesser one at
that. Read the paper of
highly qualified people flipping burgers.
these jobs would have been lost to America forever, the manufacturing base
here has been declining daily.
My daughter lost her job Jan 09 company went out of business she had to
work part time jobs, until Apr this year before getting a full time position
a lesser pay and benefits. The company she did work for moved everything off
shore. This is a common occurrence
I am not dreaming.
There are a lot of both scenarios and letting a company bleed slowly
to death is definitely worse than a quick death and recreation of
The slow death of GM started several years ago depending on how you
look at it.
Some people claim it started on a slipperu slope downhill 40 years ago
some say at some time later.
It was definitely too late to stop the death process last year and to
keep it on live support in a coma without and option to every wake up
is downright cruel.
It is inevitable that GMW will keep on bleeding to death and it is
only a matter of time before it stops all together.
It is not possible to change the law of nature and there are so many
wolfs out there waiting to eat up what remains of the beast.
When you stand too close it is difficult to see the big picture and it
does not change anything to have feelings come into the picture.
We who do not care much about GMW as such very much are a watching in
amazement all the twists and turns it makes in the process.
It is amazing you say gm in failing going downhill no chance of recovery
beeding to death etc.
yet gm eliminated 4 brands keeping only 4 brands and is still the top
selling manf. in the us for the first 4 months of this year, outsold toyota
by 100K last fall I would have said it was impossible, I think there were
some here that said it would be #4 you can say you can predict the future
but he future predicts you will be wrong again.
fun isnt it when you get old enough you can say and do whatever you want.
had drs apt for checkup this afternoon in great shape, do cardio 6 days a
gym 3 days and golf 2 or 3 times a week I have many more years to piss
GMW is making huge losses which means they are not seling anything
they are basically giving them away and taxpayers pay for this
Reread what you just wrote. You can't be that stupid. Or can you?
Everyone is entitled to their opinion, the problem many have is they are not
entitle to their own facts to reach that opinion.
The GM haters in this NG are a prime example of those that do not understand
the facts LOL
Not just facts but moral character.
Some people think non-union no pension taxpayers should pay for big
union BS and bail out corrupt corporations like GM and banks.
Many fail to see why this is wrong, unethical and corruption.
Making people tax slaves is not moral.
But then, it depends on your ethics and moral character.
On 08/05/2010 9:20 AM, Mike Hunter wrote:
As I have said many times, your opinion not based on the facts. Although
many, including me, would not have approved of the government giving money
to GM. Whether or not the government SHOULD have even helped GM at all, is
moot, because it had already done so.
Your often stated opinion that GM was corrupt is just that, your opinion,
not a fact. If GM was in fact corrupt, those of us that owned shares would
have made complaints to that FTC and the SEC.
Many times you were asked to tell us whatever led to the opinion that GM was
corrupt, inept perhaps but not corrupt, has never been answered.
The fact is taxpayer money was given to GM as a loan as well as to purchase
Preferred Stock, to help save the Treasuries of the federal, state and local
governments billions of
The fact is GM has repaid the loan portion with interest, albeit a low
interest rate, but they DID pay it back.
The fact is the GM Preferred Shares, own buy the government will, earn a
profit for the taxpayers when it goes public later this year.
The fact is EVEN IF GM eventually went belly up, the governments investment
is far less then the total of the physical assets own by GM that would be
sold to repay the Treasury.
Get you facts correct before you comment on GM again, WBMS dummy
If you knew anything about the cost of building an automobile you would know
GM earns a nice profit on every vehicle it sells, dummy.
GM biggest costs, since coming out of bankruptcy has been the billions it
has spent to bring its ALL new, state of the art new models to market, for
it current five brands.
What would have really happened is on the chapter 7 auction block
someone would buy the GM but without any of the dumb contracts and
They would have taken 6 months to parachute in new management and rehire
non-union. And slowly turn GM back up in a profitable way at no cost to
400,000 people lost jobs in one month, those jobs were lost years ago
with GM excessess and mismanagement. Why keep a GMer when a Ford is let
go? Rewarding a loser and penailizing a winner never works.
Just others ate it. GM is a paracite. Even didn't pay other suppliers
that had to lay off as a result. GM welshers just keep on sucking.
Looser companies like GM haven't paid taxes in a long time, GM is a net
consumer of taxes costing Americans 100 billion or more when all is said
and done. Ripping that cash from taxpayers pockets coast to coast also
unemploys local people in their comunities. Something the pro-GM
bailout BSers don't want to account for. And will the cost hasn't been
relized (yet) it comes with interest, and will last decades in it's
Didn't turn around the depression did it? Well, many predicted this out
of control debt-corruption spend didn't work and it didn't. Obamanomics
isn't working because it does not address the real problems.
It is just corruption gone mad. You might want to study Greece. It is
coming to US shores.
It is very interesting how corruption and greed is everywhere.
The greek governments falsified their books for years and now they are
sucking the rest of the EU into trouble and possibly the whole world.
Similar to what the big companies in the US did.
The wave of bad loans to people who had no money and no income is over
and now the next wave is coming.
Those are loans given to people to do or did have money but given to
them with no or low interest when the houses were expensive.
Now the prices of the houses have come down the loans are more than
what the houses are worth.
The people are also expected now to pay higher interest on the loans.
This wave will be bigger and worse than the last wave.
Ok the greeks lied and too more loans than they can pay back.
Now Spain, England and Portugal are in the same boat.
Not to mention the US.
The US has printed so much money that they are probably in the deepest
So in a sence GM is not much worse than the rest of the criminals
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