Obama denies bailout funds for automakers

Banjo · Mar 30, 2009

WASHINGTON â The White House says neither GM nor Chrysler submitted acceptable plans to receive more bailout money, setting the stage for a crisis in Detroit and putting in motion what could be the final two months of two American auto giants.

http://news.yahoo.com/s/ap/20090330/ap_on_go_pr_wh/obama_autos

stock777 · Mar 30, 2009

speaking of mobsters, looks like those union boys and girls on the line will be doing the food stamp mambo soon.

got what they deserved.

satchel · Mar 30, 2009

I actually feel bad for Wagoner

http://www.bloomberg.com/apps/news?pid=20601087&sid=azT1IbTLXTGg&refer=home

bond_trad3r · Mar 30, 2009

Wagoner is a bitch. I'm so glad he's gone.

stock777 · Mar 30, 2009

Why did they get rid of him, bad acting?

ba1 · Mar 30, 2009

He invested in hydrogen? Talk about fiddling while, er, Detroit burns.

lolatency · Mar 30, 2009

Automotive industry should hire some former execs from places like Intel. Those people know how to eek out profits and run a tight ship. Even if their stock prices go down, their labor seems constant and their product quality gets more and more impressive.

Granted, we will never see INTC at $80 (in year 2000 dollars) again.

stock777 · Mar 30, 2009

Are there any mobsters telling Intel what to pay their wage slaves?

lolatency · Mar 30, 2009

Quote from stock777:

Are there any mobsters telling Intel what to pay their wage slaves?

Point taken.

Intel doesn't f around. They build after they get the local government to give them some slack. They diversified their government risk and have fabs in all different countries.

They deal with the Calif. government though. I think that's part of the reason they have fabs all over the world instead of just California. If they did business strictly in CA, they'd be another GM.

Imagine how many labor/fab/marketing/janitor/food service jobs you'd have in CA if you made Intel pay like 1-2% taxes.

Thermactor · Mar 30, 2009

Quote from lolatency:

Automotive industry should hire some former execs from places like Intel. Those people know how to eek out profits and run a tight ship.

Intel? Not cutthroat enough. How about Wal-Mart?