GM is Going from Bad to Worse

Discussion in 'The Fire For Effect and Totally Politically Incorr' started by montezumaz, Aug 26, 2012.

  1. montezumaz

    montezumaz Former Guest

    GM Headed to Bankruptcy Despite O'Drama Bailout?

    "When the American auto industry was on the brink of collapse, I said, let's bet on America's workers. And we got management and workers to come together, making cars better than ever, and now GM is No. 1 again and the American auto industry has come roaring back. So now I want to say that what we did with the auto industry, we can do in manufacturing across America. Let's make sure advanced, high-tech manufacturing jobs take root here, not in China. Let's have them here in Colorado. And that means supporting investment here." - Barry O'Drama

    GM is bleeding money because of decisions made by a management eager to please its political masters ... and by the terms of the bankruptcy arranged by Obama car czars Ron Bloom and Steven Rattner. Rattner himself admitted late last year, in a speech to the Detroit Economic Club: "We should have asked the United Auto Workers union to do a bit more. We did not ask any UAW member to take a cut in their pay." Non-union employees of GM spinoff Delphi lost their pensions. UAW members didn't. The UAW got their political payoff. And GM, according to Forbes writer Louis Woodhill, is headed to bankruptcy again. Is this really what Obama wants to do for all manufacturing across America? - Michael Barone
  2. cycloneman

    cycloneman Well-Known Member

    Dec 16, 2008


    Yep when bozo walks by next January the spit that hold together this country will be gone.



  3. gvw3

    gvw3 Well-Known Member Supporting Member

    Oct 16, 2011
    Chicago IL Area
    I may be wrong but I think I read some place that new hire workers get paid 50% of the older workers. It was a sellout to the new workers from the old workers. This is how they broke the teamsters union. They did the same thing. Old drivers got to keep their pay but any new driver was at 50% pay for his 1st 5 years. Of the new guys no one lasted over 5 years.
  4. al45lc

    al45lc Active Member

    Mar 8, 2010
    colorful colorado
    And had we let the forces of free market economics work, GM would have gone through a restructuring that would have made it stronger and better. It MAY have been smaller, but that's what happens to the big guy when he outgrows his britches.
    GM would NOT have gone under, any who say that are economicaly ignorant, GM's assets would have allowed an excellent chance to restructure and come out ahead, but now it has even greater liability and debt, and so will eventually become much smaller and a former shadow of itself.
    And all the employees will have only themselves and Manegement to blame, for they share it equally due to greed on BOTH sides.
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