GM Bankruptcy Thread
- Thread starter The Kin
- Start date
The whole problem with the auto industry is a mess. There are a lot of valid efforts to change the companies, but one has to wonder if its going to be able to happen soon enough. Its almost like re-arranging the deck chairs on the Titanic.
Its unfortunate, but those of us in southeastern Michigan now have to pay the consequences of auto companies that never took on the union until it was too late & a state government that never put any effort at diversifying out of a dinosaur industry.
It is what it is, but I fully expect it to be a blood bath around town starting in the beginning of the year.
Its unfortunate, but those of us in southeastern Michigan now have to pay the consequences of auto companies that never took on the union until it was too late & a state government that never put any effort at diversifying out of a dinosaur industry.
It is what it is, but I fully expect it to be a blood bath around town starting in the beginning of the year.
Trader922 wrote""Its almost like re-arranging the deck chairs on the Titanic.""
It might be tantamount to raising the Titanic.
It might be tantamount to raising the Titanic.
According to FBN, looks like the 'Corker proposal' may be progressing
This would be an interesting solution, whereby bondholders are asked/forced to take less than 100 cents in the dollar, and/or take equity in exchange for debt.
http://www.bloomberg.com/apps/news?pid=20601087&sid=asznGuD.2aXs&refer=home
This would be an interesting solution, whereby bondholders are asked/forced to take less than 100 cents in the dollar, and/or take equity in exchange for debt.
http://www.bloomberg.com/apps/news?pid=20601087&sid=asznGuD.2aXs&refer=home
Agree. GM will never be allowed to fail under Obama's first term. Second term maybe.
hey stock777, let me tell u this, the wages of auto workers have not been the problem. those are the worst managed corps in the history of the world. u had better hope they bail these guys out. soon as a union company gets in trouble everyone wants to blame high wages. i live in coal country. everyone 20 yrs ago used to say that if union miners made less money then things would be cheaper. many of parts of the country felt the same way i'm sure. tell me whats less expensive 20 yrs later after union membership has fell to nothing. the sad part is we all pay for people who don't have health insurance and other benefits that unions help negotiate. so the bottom line is unions help get a little for people who actually make the economy work. instead of just 10 zillion $ for execs who cut each other deals in the board rooms. or do u think there should be just really rich and really poor.