McCain Says Congress Should Stop Giving Aid to GM, Allow It to Go Bankrupt

CaptainObvious · Mar 9, 2009

You can rant on and on about the evil blue collar worker that makes a living wage at GM. It's all irrelevant. They did not bring this crisis upon us, congress and the banks did that. Punish them!
Bottom line, GM goes belly up what follows is a deep, deep economic depression of a scale that most of you punk ass mother fuckers ain't ready for. You'll see, and I'll laugh my ass off watching you squirm.

gnome · Mar 9, 2009

Quote from CaptainObvious:

You can rant on and on about the evil blue collar worker that makes a living wage at GM.

I don't think that's the issue... It's more like GM has to compete with non-union car makers from around the world... and with GM's cost structure for wages and benefits, they're not competitive.

If they don't scale down to compete, they will be GONE. Why should tax payers give them money to postpone the inevitable?

ipatent · Mar 9, 2009

It isn't just the unions, it is the bondholders.

Both need to take a hit along with the shareholders if any of these companies are going to survive.

TGregg · Mar 9, 2009

Quote from ipatent:

It isn't just the unions, it is the bondholders.

Both need to take a hit along with the shareholders if any of these companies are going to survive.

The unions aren't going to blink. Look at Canada, a wage and retirement freeze, not a cut. And only for 3 years. That's not going to do squat to bring GM into the black.

GM cannot compete because their labor costs are too high. The more obvious this becomes, the worse it gets since people aren't going to buy a car from a company that is headed down the tubes, nor are they going to buy stock, nor are they going to loan money. At least, not without a substantial discount.

This is as obvious to the uaw leadership and rank & file as it is to all of us. There's no way they would be taking such a strong stand if there were any doubt about continuing government bailouts for GM. So count on 5 billion a month for the next two years. That's what the folks in the know are telling us by their actions.

CaptainObvious · Mar 9, 2009

Quote from gnome:

I don't think that's the issue... It's more like GM has to compete with non-union car makers from around the world... and with GM's cost structure for wages and benefits, they're not competitive.

If they don't scale down to compete, they will be GONE. Why should tax payers give them money to postpone the inevitable?

I agree with you, but is seems all I read about is these greedy workers in connection with this economic crisis. Overpaid workers building shitty over priced autos didn't cause this mess. Congress and banks did, as you know. I just can't stomach seeing the politician and bankers getting off free from responsibility or consequence, and the average worker takes it up the ass.

gnome · Mar 9, 2009

Quote from CaptainObvious:

"... I just can't stomach seeing the politician and bankers getting off free from responsibility or consequence, and the average worker takes it up the ass.

LOL! Good one. That's how America works.

(Shouldn't say, "LOL"... true, but tragic. The average American still believes CONgress and the Administration are acting in the best interest of our people....)

TGregg · Mar 9, 2009

Quote from CaptainObvious:

"... I just can't stomach seeing the politician and bankers getting off free from responsibility or consequence, and the average taxpayer takes it up the ass.

Fixed it for ya.

ipatent · Mar 9, 2009

Quote from CaptainObvious:

I just can't stomach seeing the politician and bankers getting off free from responsibility or consequence, and the average worker takes it up the ass.

I agree, but the average worker is not a UAW member working for GM.

insider trading · Mar 9, 2009

Quote from CaptainObvious:

You can rant on and on about the evil blue collar worker that makes a living wage at GM. It's all irrelevant. They did not bring this crisis upon us, congress and the banks did that. Punish them!
Bottom line, GM goes belly up what follows is a deep, deep economic depression of a scale that most of you punk ass mother fuckers ain't ready for. You'll see, and I'll laugh my ass off watching you squirm.

Personally I don't care if autoworkers make 200.00 an hour.My problem is when GM asks for MY tax dollars to pay their unskilled laborers 75.00 an hour .Nobody is blaming GM for this recession,Taxpayers are saying if you want our tax dollars then workers need to be paid what their labor is worth

Do you think using all that foul language on a message board makes you look cool ?

CaptainObvious · Mar 9, 2009

Quote from ipatent:

I agree, but the average worker is not a UAW member working for GM.

True, but the average worker will most certainly be affected by a GM implosion.