Uncertain future for US car industry as bailout collapses (Roundup)
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By Anindita Ramaswamy Dec 12, 2008, 9:40 GMT
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Finally, some Republican Senators are acting like republicans. What took them so long?
Why is Bush still ready with his pen ready to ink more debt? Answer: He is a credit-holic addict.
Fortunately, this time the Republican Senators acted like financially responsible people.
To bad the same Republican Senators act like credit-whores when they dole out debt to their banking friends. Notice how the main dispute was giving too much money to blue collar workers. This is true class warfare based on prejudice and bigotry. White collars get loads of dough, while blue collars get stiffed.
Republican v.s. Democrat, muslim v.s. christian, blue collar v.s. white collar to name just a few wars based on prejudice. The amount of prejudice in the United States is overwhelming.
Quoting the article:''After hours of bargaining, Republicans and Democrats failed to agree on a compromise deal. The bone of contention was the powerful United Auto Workers (UAW) union's refusal to agree to Republican demands for wage cuts and reduction in labour costs to the level of Japanese competitors operating in the US.''
This is inaccurate. The real bone of contention here is not the hourly wage, but the work rules that allow UAW members get paid for little or no work. Mister Gettlefinger's claim that the UAW is on 'third base while no one else has even entered the ballpark' , is not only a poor use of metaphor it is an outright lie. Bond holders are being asked to give up seventy-percent of what they are owed and were agreeable to taking that loss. Stockholders are taking the biggest bath in history.
Meanwhile, GM is already working on their 'Plan F'. They have hired lawyers with expertise in bankruptcy proceedings.
UAW concessions are important because the work rules problem goes well beyond the automakers themselves. The parts makers and a host of subcontractors are party to UAW contracts and are made uncompetitive thanks to the same or similar work rules.
The panic over this part of the sad saga unfolding before us is not justified. Mister No-hair-box-of-rocks will no doubt order his ghoul ruining our treasury to at least give GM a handout. The UAW will get its way. This right out of Atlas Shrugged. The head of the Union is dictating terms to the rest of the United States.
What did you expect? It is just the Republicant's doing what they do best...Ruining another part of the economy. I hope all the workers in the auto industry remembers how they were 'taken care of' by the Republicant's in the next election, then the Dem's will have 70 seats.
Pperfect,
Perfect example of how the United States came to be ruled by idiots.
At first leaders were leaders. They had vision and great integrity.
Now they pander to the lowest of the low ... the scared, uneducated and jobless (or soon to be) U.S. citizen that likes the 2nd Amendment and knows how to use a gun and how to vote with the big stick of his gun. It is a carrot and stick in reverse. The politicians pander to the lowest of the low because they are afraid of mommy and pissing someone off by having values and sticking to those values.
Bush, the valueless moron he is, panders to that kind and doles out as much bribe money as possible. Maybe someday we shall have a president with a little backbone, but I see such a person on the horizon.
*but I see such a person on the horizon.
should be:
but I see NO such a person on the horizon.
Of course. The U.S. is literally devoid of leadership. None to be found anywhere. No captains of industry not even in the best run companies. Intel, Exxon, whatever. Zero leadership. They are all withering giants that are getting older and older each day. Even the best run company is no more than a hype machine to attract consumer shoppers or get government pork barrel contracts.
I will pay you 5 pimp slaps to stop talking jibberish.
You are not qualified to shine the shoes of any republicans you claim to despise.
You armchair, leftist, knownothing.
Go immigrate somewhere and leave us here to work out the problems.
..yyyou should view how libnazi policies and lopsided union culture has gotten the auto companies to where they are now. Nothing, that has gotten the big three here is the Republican parties fault, but the dems have coddled the unions for decades and now they want your tax money to perpetuate this mess. Auto companies in America seem healthy, if their name is Toyota, or Honda.
This might be a surprise to you, but there are 49 other states who also have some real economic problems of their own, and, for some reason, none of these seem to matter, compared to the cherihed libnazi bastion the Auto Unions.
What your Republican party is doing is trying to stem what will be an open-ended commitment to subsidize runaway union culture and, ppperfect, I think that will benefit everyone, unless you think Christopher Dodd should do what he did for Fannie Mae, to teh auto industry.
No, bankruptcy and reorganization will benefit everyone, except libnazi poiliticians and Bolshevik union bosses.
The eventual collapse of the United States itself!!!!
Don't blame ' The Germans ' . What is it with you people and your blood thirsty hate ? You want to see others suffer , sick mother f-word's .
' There's one thing everyone agrees on: Daimler (Mercedes) screwed Chrysler royally.' ' Chrysler was the lowest-cost producer and the most profitable car company in the world ' ' it took Daimler less than a decade to drive Chrysler off a cliff '
i live in Michigan and you can't but a job here
thanks to Gov. Granholm.
Yes lets all pony up to ensure UAW workers continue to get their cushy 75 bucks an hour punching holes on an assembly line, while the rest of us unemployed live off scrapings from the Walmart parking lot.
Does anyone have an extra cardboard box I can sleep in tonight?
'Yes lets all pony up to ensure UAW workers continue to get their cushy 75 bucks an hour punching holes on an assembly line, while the rest of us unemployed live off scrapings from the Walmart parking lot.'
Interesting thought. So, this recession and potential depression is like no other because of the economic disparity. Billionaires get bailouts while those less fortunate eat scraps.
So, what are you going to do about it? Is there enough of you to make a movement? Or is the inequity built into the system to solidly for you to move or even comprehend?
You were shafted about 10 years ago and you are just beginning to comprehend the issue. Perhaps in 10 more years, when your kids are being punished in debt, you will try to do something. But for now, lay on your ass and enjoy the poverty.
...that Deroit is a national disgrace. Years of libnazi politics has produced the living nighmare of Detroit i.e runaway taxation, corruption, socialistic dreaming that is now culminating in the monumental mess you see.
Like partners in a sad dance, libnazi unions and libnazi political leadership have abandoned everyone but the faithful few, and are selling the highest offices in the land. Detroit? almost as bad as Chicago.
Would Sara Palin do this? Doubtful, but then again, she has more experience than the President-Elect.
My Honda was probably made in the USA and I have not had one problem with it in 7 years. My Ford is a piece of @#$%.
If you can't compete, you fold.
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