greg attracts an interesting crowd. check out uncle b and friends.
1. Uncle B
Yer Done GM! slice that piece of cake any way you want to Yer done! You sold me overpriced, huge, gas guzzling, planned obsolescence filled poorly crafted rusting hulks for most my life, then the nips came along and gave me a better deal, so did the krauts! now, the Koreans are in on the act,and the Chinks come online next year! and Yer Done! fat assed, white bastards in your penthouses in Detroit, screwing the secretaries instead of getting down to business! lazy-ass protectionists, payed off by Arab oil to kill the EV-1, smart asses, changing name plates and claiming better designs. We the lower class, will certainly not miss driving old, oil burning, second-hand, worn out, disintegrating, crap to survive! In the new social democratic America we will be able to take buses and trains and save our money instead of subsidizing the rich guy's new ride by paying out through already sore and bloody asses from high gas prices, for your second hand junk! Yer Done! There is a G d! I am glad to see that the only thing that can rise from your ashes is a socialist, government controlled, semi-commie, union involved state owned organization, with the unregulated Bush variety vulture capitalists banished forever! May this new entity see greater sucess, especially with government supervision, and extreme greed gone! I know this makes the U.S.A. a Socialist State, and I know that this means we are approaching totalitarian government interventions in future. I realze this as a precedent setting event! BUT: nothing could be worse than the screwing we have taken at your hands. GM, Yer Done!
2. John C. Randolph
GM belongs in bankruptcy; the company is insolvent and has been insolvent for quite some time. Blaming the government for "forcing them into bankruptcy court" denies this simple fact.
What you should be blaming the government for, is pissing away tens of billions of dollars trying to keep the company OUT of bankruptcy. The market is a profit AND LOSS system, and bailing out companies that have losses with tax money is always a mistake. For the sake of those sacred UAW jobs, how many jobs in viable business are being sacrificed?
The American people don't want GM to remain in business. If they did, they wouldn't be belly-up.
Not so fast big boy! I survived the fratracide by the labor unions at Eastern Airlines too, and the unions did the same thing there as at GM with only the scope of the pillaging being the difference. The UAW for decades continued to pile up the swag in work rules, lifetime pay, exorbitant demands. They are the villains more than any other entity. They only got what they deserved but in my opinion the bankruptcy should take more than they will. Obama will pull as much out of the fire as he can get away with for the UAW. Two examples of their greed. Mistletoe is a plant parasite, usually with only a few clumps in any given tree. In this case there was more Mistletoe than leaves. The other is the story of the Goose that laid the golden egg. The UAW and their group greed insisted on eating the goose instead of being satisfied to collect a few golden eggs. Ta Ta!!!
Universal Health Care would solve many of the automakers' woes.
5. Latifa Ring
Are the GM pension funds still guaranteed?
Is this really a surprise? This is business as usual and a standard method of getting rid of pensions and obligations to pensioners. Take a look at how the airlines did it years ago..
7. Mark Hamilton
Thanks GP, love the books
But I have a ? What happened to pensions during the M&A/leveraged buyouts of the 80's?
I'm a self educated voracious reader of History(USM 76), a fan of yours. My best friend just retired from 30 yr's GM UAW in Miss. A hard right Christian Republican with all the fixin's, that doesn't read.