Was Obama’s HANDLING of GM & Chrysler DONE in a way that his UNION PALS would CONTROL the companies?
There were choices but Obama and his adminstration carefully orchestrated it in a way that the unions would have 55% of the company and the car dealership owners and their employees would get the shaft.
Why?
Unions vote Dumbocrat while most of the car dealership owners are Republican.
If the administration wanted to save jobs, what about the car dealerships forced to close by Government Motors? What about the car salesmen and auto mechanics?
We could have just let GM and Chrysler go bankrupt. We were told they were too big to fail, that the job loss would devastate the economy. Yet how was it that after 9/11 we continued to fly bankrupt airlines that stayed in business till they got back on their feet?
Cars could have continued to be built and sold and dealers would have continued. But union contracts would have been voided by a bankruptcy judge. A key Democratic constituency would have been ticked off. Better to wait until tens of billions were squandered and the car companies had no choice but to sell themselves to the government and the unions.
September 25th, 2010 at 11:36 am
Will Susiepolls ever write a sentence without capping every other word?
Btw, if you don’t like unions, try making a living working at Walmart.
Mutt
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October 17th, 2010 at 9:36 pm
Unions are not the problem, deregulation and corporate greed is the problem.
Mutt
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November 5th, 2010 at 1:36 pm
THIS IS GOING TO DO MAJOR DAMAGE TO THE CORPORATE BOND MARKET AND MAKE IT A LOT HARDER FOR CORPORATIONS TO BORROW MONEY.
Mutt
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November 21st, 2010 at 5:36 am
Well he essentially screwed those who put money up front (the bond holders). He also screwed our own laws……..contract laws. If I were in the position to buy into any company, I would NO LONGER do so after what Obama and his hencemen politicians have done to our Constitution. What a DISGRACE
Answser to your question, YES
Mutt
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December 4th, 2010 at 5:37 am
Yes
Mutt
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December 15th, 2010 at 11:36 am
A pair of right-wing radio hosts says there’s only one choice for conservatives angry about government involvement in the auto industry: Boycott GM. “Nobody wants to support an Obama company,” Rush Limbaugh told his audience Friday, citing a poll showing that 17 percent of Americans backed a boycott of GM.
“Every dollar spent with GM is a dollar spent against free enterprise,” conservative talker Hugh Hewitt wrote online last week.
“While it’s not surprising that Rush Limbaugh would root for the failure of a national institution for partisan political gain, it is surprising that the other so-called leaders of the Republican party are silently going along with him given how many hard working Americans rely on GM for a living,” said DNC spokesman Hari Sevugan.
So far, there is little evidence that the government’s involvement is turning off buyers. In bankruptcy for the entire month of May, Chrysler had its best sales month of the year.
Conservatives, are you out of your mind? Do you know how many Americans have lost their jobs in manufacturing? Do you know how many American families are being affected, their livelihoods are being drilled because of this recession and what do they do, they push back on the American families that are doing the absolute best they can to build a great product…
What do you say we just kick the American worker in the teeth. What do you say we just give all the money to Wall Street. Let’s just take their health care, let’s take their education, let’s take their jobs. Let’s just genuflect to the Hugh Hewitt’s of the world.
Good luck in 2010 & 2012 if this is your best plan………..
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December 24th, 2010 at 6:41 am
Yes is the only answer. There were other solutions to the GM problem but this one gave power to the unions, one of Obama’s main contributors. If I were an investor I wouldn’t want to invest in any american company as long as Obama and his cronies were still in power for fear of being screwed over like the GM investors.
Good luck in 2010 & 2012 if this is your best plan………..
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December 31st, 2010 at 5:36 am
It does not matter now.
GM and Chrysler allowed the UAW to create and sign their own obituary. These companies are done and so is the UAW.
Who in their right mind would become an unsecured bond holder and invest in any automotive manufacturer?
Ford is next, they are only 18 months behind the curve.
Happy said “So far, there is little evidence that the government’s involvement is turning off buyers.”
Happy obviously does not monitor the stock market. The massive sell off that we have been seeing is in the bond market. There is no confidence in being a secured dept holder when contracts are not upheld.
Manufacturing and construction have also jumped in and are selling out as we speak.
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January 6th, 2011 at 2:37 am
Both companies were failing. Without major concessions from UAW…they’d be out of business. Stop ranting.
Happy said “So far, there is little evidence that the government’s involvement is turning off buyers.”
Happy obviously does not monitor the stock market. The massive sell off that we have been seeing is in the bond market. There is no confidence in being a secured dept holder when contracts are not upheld.
Manufacturing and construction have also jumped in and are selling out as we speak.
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