Here we go..... http://finance.yahoo.com/news/General-Motors-files-for-apf-15397846.html?sec=topStories&pos=main&asset=&ccode=
I wonder if Obama has called successful state run auto companies like the Russian Auto companies. I've included a link to their page, looking at the design and execution of a state run strategy in Russian cars I have no doubt that Americans will shun GM cars even more and there will be another bankruptcy..the final one in a few years. Russian Cars
Did you see who was going to be in charge of the whole thing? Oh yeah he's never set foot in an auto plant and never gave it much thought till they gave him the job. Lee Iacocca he's not...Lord help us. New Guy in Charge
Amen TOK, amen...... This on top of the congressional hearings scheduled to address the closing of dealerships.....an unprecedented level of government intervention in the private sector. Any guesses on how this movie is going to end?
Why don't we just let the mortgage and investment bankers run the show. That's a helluva of an idea since these guys have engineered such a great deal of wealth and security for us all. Otherwise....I like this guy: http://www.realclearpolitics.com/video/2009/06 /01/mich_mayor_calls_gm_bankruptcy_a_punch_in_the_stomach.html
Enjoy the ride George. Should be a doozy. I just wonder what in the hell kind of spell did a Senate Minority leader ( Pelosi ) have over a sitting GOP President over a GOP Congress from Jan. '01 thru Nov. '06 to completely disable their competency with regard to the economy. Wow...everything that has happened to promote this economic meltdown and subsequent extreme corrective measures has been all the work of the evil Obama all...amazingly....in the last 4 1/2 months!!!!. Incredible that Obama can bring down such a perfectly working system in such a short amount of time. Seriously....you guys disappoint me with the low level of intelligence you are willing to stoop to. :lol: :lol: :lol: Jeezus.....why don't you guys give those blogs a rest?
And the price of gas is rising quickly now. So why doesn't Obama lower the prices? After all we know from all the anti-Bush loonies that the White House dictates oil prices. Or has Obama developed his own "Big Oil cronies" since taking office? And while we're at it, how's that ******** stimulus package doing with the economy? What a bunch of crap. But hey, while he'll telling everyone about how things will be getting worse, while he's telling the American public they'll be sacrificing for future generations, he's pissing away thousands taking his wife on a date to NYC. This on top of the Air Force One flyover. What a clueless clown.
Dave, I'll admit to the low level of intelligence you've assigned me if you can just explain how 70,000 employees ( minus the 21,000 about to be released ) can support 655,000 retirees and their families. George
George I wasn't referring to your retiree scenario but rather I was pointing out the ridiculousness of some people's desire to blame 4 months of Obama for the current economic crisis in while at the same time exonerating W and the GOP for those 6 years of ruination.
......as far as I'm concerned, the only person responsible for engineering wealth and security for me and my family is.........me and me only. Period. Nobody else..... Self reliance and personal accountability is one of the foundations that made this country into the greatest nation state the world has ever known. The generation of "it's not not my fault and therefore the government needs to help me" will destroy our system as we know it......
I don't blame Obama for the current crisis......did his pork-filled budget and Marxist policy shifts make the situation worse? No question.... I do blame Obama entirely for the unprecedented interventionist policy positions, application of blatantly Marxist tools and erosion of the free market capitalist economy that created the most productive, efficient economic engine in the history of the world putting the future of my children and theirs at risk. I do blame Obama for a federal budget that necessitates more projected borrowing by the federal government than those of all of his predecessors combined! What's not to like about that?
...and yet the stock market rose to it's yearly high yesterday... Also, you must be the smartest man in the world BT to know exactly how all of this will play out. Why don't political strategists just go to you before they concoct political and governmental strategies that may or may not work when you could tell them beforehand. :roll: In any event I have shifted gears now. In my new job I will depend on those wealthy individuals who have the means to afford luxury items such as oversized yachts. Go Wall Street!
Perhaps they already do......however, there are some that listen more carefully others...... :wink: You don't need to be a rocket scientist to know how a Marxist-based economic system will play out......we have many historical precedents. None have suceeded, many have ended tragically......no need for me to repeat evidenced failures and employ any system so contrary to fundamental human behavior.
I blame Bush and Clinton for most of this. I blame Obama for pouring gas on the fire and turning a bad situation much worse by incurring debt so unprecedented that even the "experts" cannot fully comprehend it. Obama has devalued our currency to the point now where it a a bona fide national security threat that makes nuclear weapons pale in comparison.
If this is such a given...and keeping in mind the end result won't be known for certain for awhile....why would so many sign off on the deal as something that might work? Why would the DOW be at a yearly high instead of crashing through the floor? Who besides the ultra right has made this determination that we are doomed?
How about the ultra-left......drunken Russians and the proletarian Chinese! It's not a given.....it's only a given if we continue down the path of Obama Marxism unabated. However, I have faith in the American people....this can not go unchallenged by the electorate. Sooner or later the people will get mad as hell at having the central government controlling virtually every meaningful facet of their lives that they are not going to take it anymore. The guy is overbaking his cake and in time he's going to have to eat it......mid-term election results will provide a good clue.
And the Euro and Austrailian dollars reached there yearly high compared to the American dollar. And your point is.....?
Its so simple, the labor unions decimated GM, along with executives who did not want to spend the money to re-tool and re-design cars that people would rather have; leaving a wide gap for foreign manufacturers to fill that void. BUT, the single largest reason is the unprecedented high wages and benefits of the labor unions, who now own a significant chunk of GM by waiving a 20 billion note owed to the retirees and deferred payments. Can GM come back competitive? Yes, unless too much govenrment meddling takes place Would I have favored staying out of gov't bailouts of the auto industry?, Yes, painful at first but beneficial in the longer term than what we have now. Will this alll work? Who the f&__k knows, and I studied Economics. The only thing I fear is rampant inflation, mostly on commodities, not real estate as home ownership is no longer a source of wealth management or value-added growth thru the years. Will we ever see another boom like this last one?.....ABSOLUTELY NOT Where are we going at best? Back to a more stable economy where you live in the same house for decades, keep the same car for 5 years and kids go to public schools and live longer at home, rather a combination of good, family-centrist values like our parents and grandparents had with a lot lower debt owed by the general public in a more underleveraged and cautious personal financial setup