Actions Completely Like That of Central Planning Communist

As places like Detroit grew into Left wing social justice wastelands over years of liberal control of social regulations along with regulations on big government and big union failures, this latest attempt is a more like a coup of how to decide who should prosper and who should fail, based on social justice and not on success based on ability to thrive. Flagrant use of socialism in the Obama agenda.

Step 2, cut out the bondholders and give the UAW control of the company by cutting out the investors.

 

Here I was thinking that Detroit auto manufacturers stubbornly continued to manufacture dinosaurs of the gas-guzzling kind in the stoopid belief that bigger is better. By failing to listen to intelligent market analysts, they rapidly lost there dwindling market share to thriftier imported models.

Now you say that Obama should have been on hand back then to tell them what the future will hold for them if they don't wise up and listen to the customer for a change?

Incredible logic you're playing with there, Chief.

As for liberalisation of the workers via the unions, that's what happens when you pay people subsistence wages. Greed, crappy human resource skills, wasteful spending by the CEO's and even worse marketing ability killed off the auto industry.

http://money.cnn.com/2008/12/04/news/companies/saving_detroit/index.htm?postversion=2008120404

The CEOs of the three firms are due to appear in front of Congress Thursday and Friday to make their case for what's now a $34 billion loan package. They had originally been requesting $25 billion.

GM is asking for up to $18 billion and says it needs $4 billion of that almost immediately to avoid running out of cash before the end of the year.

Chrysler is seeking $7 billion and has warned that it too could run out of cash.

The situation is a bit better at Ford but it said it wants to be able to access up to $9 billion as a backstop.

The Big Three's last visit to Capitol Hill was nothing less than a public relations disaster, as many members of the House and Senate denounced the CEOs for their bad decisions and worse symbolism. Each CEO flew to Washington to ask for help aboard their own corporate jets.

This time, GM CEO Rick Wagoner, Ford CEO Alan Mulally and Chrysler CEO Robert Nardelli all drove to Washington in fuel-efficient hybrids. And they all have agreed to cut their salaries to $1 a year if they get federal loans.

Will that be enough to convince a skeptical Congress to grant Detroit the help it needs? Here's a look at how various rescue situations for the Big Three could play out, even if Congress says no (or simply doesn't vote on) a bailout.
Congress gives in

Even critics in the House and Senate may be reluctant to reject the automakers' request for help.

There are few members of Congress who haven't heard from the auto dealers in their district, as the U.S. automakers mobilized dealers to turn up the pressure on Washington.

And since the Big Three's 14,000 dealers employ about 740,000 people nationwide, legislators have to worry about rising job losses if a Big Three automaker were to fail -- even if their district is no where near the Midwest auto belt.

But one of the problems facing the automakers is that they are asking for money from the current session of Congress, which includes more Republicans than the new Congress that will take office on Jan. 6.

Democratic leaders of both houses, who support the automakers' request for help, still won't commit to a vote by the current Congress. But once the new session starts, there could be a vote early in the year...even before President-elect Obama is inaugurated on Jan. 20.

While GM officials stress they need help before then, others believe they might be able to survive long enough for the new Congress to keep them out of bankruptcy.

"If the GM board decided there was help on the way in early January, I'm sure they'd make an effort to preserve cash and get to that point," said Bob Schulz, Standard & Poor's senior auto credit analyst.
The Treasury or Fed decide to help

If Congress doesn't act before the end of this year, it's still possible that other parts of the government step in.

Some Democrats, including House Speaker Pelosi, insist that the Treasury Department could use some of the $700 billion set aside in October to help banks and Wall Street firms.

But Treasury Secretary Henry Paulson and the Bush administration strongly oppose that idea. What's more, the Treasury has already committed all but $20 billion of the first $350 billion it is allowed to hand out without approval from Congress.

 

The problem is everything you posted here, is wrong.

These automakers were building smaller fuel efficient vehicles. They had to because of left wing, big government. Thing is, nobody would buy them. They bought up all the "dinosaurs of the gas-guzzling kind" as you say, they could get their hands on, but because of big gov't regs, had acres of small, fuel efficient vehicles rotting away, because nobody would buy them.

The other thing that killed them is the UAW, demands and benefits.

So what does big gov't do to fix it? Put the UAW in charge and make them make less of the vehicles that people want to buy and more of the ones that nobody wants.

Taxpayer money down the drain.

There are all kinds of car companies in the US doing well. The only difference is, they don't have the UAW involved in their business and their workers are just fine.

 

And why exactly did the UAW get the free gift of part ownership of the company while those with actual secured loans were told to piss off by Obama?

Did that have anything to do with the fact that many of these people who had the secured loans were not Obama supporters?



This entire mess was all about taking care of the Unions who had been so supportive of Democrats for all these years.

 

You two are sleeping together?

Read the script before Obama.

Or is there simply no history before Obama for you girls?

 

Sexual insult? Really?

What script? Are you gonna fall on the sword that "Bush did it" for everything? Did Bush set aside contract law and give the UAW ownership of GM or did Obama do that Builder?

When will Obama and you blind followers ever hold him accountable for his direct actions?

Girls? More attempts at insults? That is all you guys have, insults and claims that we only oppose these actions because Obama is black.