GM DBA as Gov Motors in need of a second bailout?

[longbow]

While irritating customer mm, I asked how suppling parts to GM is going. He said great at the moment. The checks are cashing.

I asked what that means because it was a strange comment from the owner. He said overhead costs are still killing them, and the company is grumbling about 2013 payments and expenses. He also said Europe GM is a mess and pulling down the rest of the corporation.

I have great dislike for Gov Motors, and hope the Gov does not bail Gov Motors again.

Several of my extended family members had pensions and health care agrements destroyed in the GM disaster. White collar was screwed but the unions got more if you recall. That issue is still a problem with all the white collar workers. Several would love to see the UAW get a smack down from what happened last time......

 

[tenring]

Doesn't the Unions take care of the pensions and benefits now?

 

[GodFearinGunTotin]

Doesn't the Unions take care of the pensions and benefits now?

Nope. The VEBA, a trust partially funded by GM funds hourly retiree health benefits. IIRC their pensions are handled the same as any other pension. The union technically no longer represents folks once they retire.

I'm more afraid of another downturn in the economy whacking GM than anything.

 

[jeremy]

Let them Crash and Burn...

 

[spearheadersarge]

I didn't want to see them saved the first time. The unions came out smelling like a rose while average investors got hosed. The managed bankruptcy did not solve GM's problems. If they had been allowed to fail and then had re-emerged without all the legacy costs, they may have survived. They won't this time around. Nobody likes the Volt!

 

[IndyDave1776]

Starting at the first round of bailout:

1. Obama says 'screw the law, we're doing it MY way.
2. Bankruptcy law completely disregarded with court imprimatur, secured debt evaporated, unsecured debt got first dibs including ownership of the company.
3. CEO of private company fired on Obama's whim.
4. Decisions made by morons that can't even manage to pay their own taxes.
5. Company left in teh hands of representatives of some of the highest paid and least productive workers on the face of the planet.
6. Politically-driven product line replaces market-driven product line.

What could possibly go wrong?

 

[pudly]

You forgot:

7. Destroying dealerships based on political considerations.

 

[IndyDave1776]

You forgot:

7. Destroying dealerships based on political considerations.

You are absolutely right! How could I have forgotten one of the lowest points of an epic fail?

 

[ZombieApocolypse]

I didn't want to see them saved the first time. The unions came out smelling like a rose while average investors got hosed. The managed bankruptcy did not solve GM's problems. If they had been allowed to fail and then had re-emerged without all the legacy costs, they may have survived. They won't this time around. Nobody likes the Volt!

Well if Romney gets elected they wont be saved this time ..... oh wait .... What did they do last time with the share value? Lower it to $0.00 and basically make them all vanish basically? Whats the worst that could happen?

 

[88GT]

Well if Romney gets elected they wont be saved this time ..... oh wait .... What did they do last time with the share value? Lower it to $0.00 and basically make them all vanish basically? Whats the worst that could happen?

What does the one have to do with the other?

Wish I actually purchased new vehicles. I'd go buy a Ford tomorrow.

 

[Apistoman]

Bingo! Why do people not see what this administration is all about is beyond me.

 

[92LX]

What does the one have to do with the other?

Wish I actually purchased new vehicles. I'd go buy a Ford tomorrow.

Okay!!

I'll take a 2012 F-350 SRW CCLB Lariat FX4 with Scorpion to go please..

White over tan please.

 

[88GT]

Okay!!

I'll take a 2012 F-350 SRW CCLB Lariat FX4 with Scorpion to go please..

White over tan please.

Finish my house and we'll talk.

 

[malern28us]

Finish my house and we'll talk.

Finish it or finish it correctly?
I hope that GM crumbles once people really see what POS they are buying.
Not that I am happy with Ford or Chrysler either. We are currently doing new car shopping for my aunt and American made cars aren't even being considered! Per her request.

 

[Lex Concord]

Let them Crash and Burn...

Yes, as should've happened the first time.

 

[Lex Concord]

Finish it or finish it correctly?
I hope that GM crumbles once people really see what POS they are buying.
Not that I am happy with Ford or Chrysler either. We are currently doing new car shopping for my aunt and American made cars aren't even being considered! Per her request.

Out of curiosity, why new. Does your aunt hate money?

 

[88GT]

Finish it or finish it correctly?
I hope that GM crumbles once people really see what POS they are buying.
Not that I am happy with Ford or Chrysler either. We are currently doing new car shopping for my aunt and American made cars aren't even being considered! Per her request.

Correctly is implied. Or he'll be living in that damn truck.

 

[Lex Concord]

Correctly is implied. Or he'll be living in that damn truck.

I take it 92LX is Mr. 88GT...

92LX is a fine vehicle, especially if convertible...and in Titanium Frost.

 

[88GT]

I take it 92LX is Mr. 88GT...

92LX is a fine vehicle, especially if convertible...and in Titanium Frost.

He's one of my pool boys!

 

[Titanium_Frost]

I take it 92LX is Mr. 88GT...

92LX is a fine vehicle, especially if convertible...and in Titanium Frost.

A really great color if I do say so myself

He's one of my pool boys!