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GM said " you" to consumers for decades.
I heard somewhere that it would've been cheaper to bail out California than to bail out GM. I'm skeptical, but anyone else hear that?
GM said " you" to consumers for decades.
It's true. California's budget deficit is $40 billion and we've spent $80 billion on GM & Chrysler so far.
And now Obama is saying " you" to taxpayers by making them bail out GM.
do you guys think GM and Chrysler is just about GM and Chrysler?
Of course not. It's about paying back the UAW who have been loyal democratic campaign donors for years. The UAW has invested millions into democrats and now the democrats are paying them back by giving them taxpayer billions.
I'm optimistic we'll end up close to breaking even when it comes to GM and Chrysler. If not... we ed up and it was a horrible job done by all the players involved.
The alternative was pretty bleak... hopefully the government doesn't play too big a hand in running of their day to day operations.
The auto makers are another coin which has yet to drop. Again, I'll withhold judgment until I see if it works or not.
oh, come on. is that all you have?
Chrysler has already said they're not paying the money back.
http://money.cnn.com/2009/05/05/news...oans/index.htm
It's all that I need. It's true.
so...you think it's just about GM and Chrysler and UAW?
While that's ed up... reading something like this kinda assuages that. Like I said... I'll reserve judgment once it's all said and done.
"The reality now is that the face value [of the $4 billion bridge loan] will be written off in the bankruptcy process," said the official, who added that the 8% equity stake that Treasury will be receiving as part of the company's reorganization is meant to compensate taxpayers for the lost money.
"While we do not expect a recovery of these funds, we are comfortable that in the totality of the arrangement, the Treasury and the American taxpayer are being fairly compensated," said the official.
Yep. If you disagree, I'd like to hear who else Obama is thinking about here.
The millions of workers who are employed both directly and indirectly from the day to day operations of GM / Chrysler.
Truck drivers / part dealers / mechanics / ALL the dealers as opposed to just some / the people who make those stickers with that boy pissing on a Ford sign / the Jesus fish and Darwin fish car ornament manufacturers.
you need obama to inform you about all the satellite companies and their employees that are tied to the success and failure of the auto industry?
...and all the mortgages, loans, business notes that will turn to ?
There are millions of workers who are, or were, employed directly or indirectly in the housing industry, retail industry and financial industry. All 3 of those industries employ(ed) far more people than GM, Chrysler and their affiliates do(did). Yet for some reason their jobs are not as important as auto industry jobs. Why is that? Carpeters losing jobs = okay. Sales people losing jobs = okay. Bankers losing jobs = okay. UAW memebers losing jobs = not okay. Hmm.
hey, you're right!!! who needs a manufacturing base!
Homes are part of that manufacturing base. Tech companies and chip makers count as manufacturing jobs too. The petrochemical industry has a bunch of manufacturing jobs too. Where's their bailout?hey, you're right!!! who needs a manufacturing base!
Home manufacturing jobs = not important.
Tech manufacturing jobs = not important.
Petrochemical manufacturing jobs = not important.
Auto manufacturing jobs = very important.
Hmm.
ehhh... apples and oranges. You can't really restructure the housing market or retail industry.
Why not? What can't you do in those industries that you can do with autos?
Good post.
That question should be flipped. Like I said... they're apples and oranges. Heavy industry is on a whole 'nother level than light manufacturing.
whole nother level doesn't even make sense. whole another level. gay.
anyways.... "slipping to 58%" is still really really good. That means that about 4% of the people who didn't vote for him still give him approval. Not bad.
Seems like a distinction without a difference to me. Manufacturing is manufacturing. Is there a nuance I'm unalive to here jman, or are you just splitting hairs?
Weak...whole nother level doesn't even make sense.
It's back up to sixty one day later -- why no update?
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