GM is YOUR Car Company

'What's Good for General Motors is Good for the Country', though historically a mis-quote, now has more meaning than ever. See GM wiki

My future and that of most of my siblings and in-laws now rests and depends on the good graces and intentions of the US government. Well, so does yours, if you are anywhere in the US, at the least.

I suppose that it will only be considered a coincidence that the company that invested heaviest in Green Technology per the mob mantra would be most vulnerable to National Socialist takeover. That will probably prove out in time, but cant be correlated right now and the Media will see no connection to that.

Pinko Maxine Waters wont be threatening GM with nationalization, for sure .. as there's no need for it. Dont expect that to apply to Ford, though. They will still be in her sights.

 

GM: Obama does the right thing

.. pretty much... for now.

Because it's the only thing that can be done. And an ultra-liberal administration is the only one has a chance of making it work. And the possibility of a 'managed bankruptcy' is much more than just 'possibility', it's almost a dead certainty.

Of course we're seeing a predictable response from the union rank and file. Somehow they got the impression that when a Dem says we all need to 'sacrifice', it means everyone else needs to sacrifice.

Imagine how torn my brothers, retired GM and conservative, are! This will end up the final act of the golden age of the US factory worker.

Lessons learned:
You can only push promises so far forward till you have to account for them.
Labor Unions are only useful tools of the intellectual governing elite and once used can be discarded for the greater good.

Certainly the governance paradigm is not fully cemented in place but once enough unresolvable debt is built up, the only answer will be to settle for whatever the government gives you.

I'm sorry for Clem. As I said, my brothers are in pretty much the same boat he is... But he DID NOT pay for those benefits, GM did and had no idea how to support them when they signed the contracts. But they sorta figured it would be someone else's problem, anyway, so hey.....

 

GM Bondholders - raw deal

GM bondholders see raw deal in latest exchange offer

I cant get quite as worked up about this as I might have been. First, the stock {whatever value it has in the end} doesnt go to the union proper, it goes to the benefit fund.

What's worrying is that I would think this kills any private funding for GM in the foreseeable future. Which makes 'Government Motors' a sure fire government funded & run corporation for a long time into the future.

 

Are you SURE that came from GM?

My brothers got them too, so did my dad, post-mortem {that car is 13 yo} and my brother said it wasnt from GM but a company that dealers hook up with to get referral bucks out of useless coverage.

Dead giveaway of a scam or spam, in my experience.

let's just put on our critical thinking caps and parse out this gobbledy gook:

IMMEDIATE ACTION -- TIME SENSITIVE MATERIAL We want your money now.

$2000 FINE/5 YEARS IN JAIL FOR INTERFERING WITH DELIVERY OF THIS LETTER or any other letter in the USPS system.

PLEASE RESPOND WITHIN 5 DAYS. otherwise you might lose this thing and we wouldnt get your money

But, of course, you have to make monthly payments to keep it in force. Or are they offering a 'Pay Nothing till 2013' THEN a balloon payment?

And since it's a sort of insurance... how much interest do you pay now on your car or life insurance? You dont.. the company takes your monthly contribution and puts it somewhere to make interest. Or, worst case, to pay for what warranty work they really will cover.

If this is ACTUALLY GM originated, it's just a sign of how far they have fallen. The chickens have come home to roost.

 

Oh Contrary, Mon Ami!

I freakin LOVE it... if you ask NICE I might stop that little barb..... someday, maybe.
Till then, though "I'll hug it and squeeze it and pet it and I'll name it George!"


:banana: :banana:

 

Re: GM Bondholders - raw deal

Well, well... Pettyfog 'critical thinking' brain fart. About those 'bondholders'... rich fat-cat capitalists?

Naw.. MORE like retirees who told their investment fund advisors to put their savings in risk free bonds.
After all, by regulation of the US SEC they can offer low returns because in case of Issuing Corporation going belly up, they are guaranteed 100% and first call on assets in bankruptcy court.

Now, a branch of the US government is telling those 'fat cats' ...
Tough Shit! You'll take what we give you and like it or we'll sic the press on you.

Link

In case it's still not clear, that just might be why we're seeing the normal bankruptcy courts avoided.
Added: Jake Tapper of ABC, just about the ONLY MSM reporter who doesnt drink the kool-aid, has asked about this.. His report is here:

White House Denies Charge
- - -- - - - - - - - -- - - - - - - - -
And since that's about Chrysler bondholders, let's go onto something else that's dodgy.. you know the other day, the prompter implied:

"Fiat as a partner to Chrysler will bring a much needed infusion of technology and reliability."

You're shittin' me, right? Look it up for yourself ... there's a damned good reason why you cant buy a Fiat or Peugeot in the US.

But WTF.. hope for change!
- - - -- -
5/4 update
And it gets even more surreal.

If you dont want to read that whole article, then click on the myriad links, to other opinons on all sides of the autonews spectrum. None see anything but probable disaster in the future.

*Now there's a good question. The only NEW markets in the world are China and India. GM has China sewn up and it isnt helping GM's bottom line, let alone UAW, and India -like China- has ideas of its own on where it's car industry is going and who's going to run it.
Neither are going to IMPORT many American cars.

I'm not a car expert. But I've followed the industry enough to know that, for the last 10 years, any downward blip in the economy hurt Chrysler the worst of the three.
Since Fiat is going to have to deal with the UAW contract unchanged, you can expect them to run screaming for the exits within 18 months. They had troubles of their own even before 2008, and if they want to stay together in Europe, they'll get away from Chrysler ASAP.
Or maybe they have a death wish... rumor has it they've also got their eyes on GM's Opel. Hell, why not SAAB and Saturn while they're at it.

 

Breaking: AP calls it!

They call it .. affectionately, of course, 'Government motors':

Of course, they arent the only ones using that catchy phrase.

Well.. that's okay. They are real journalists and shit. Not some 'Paranoid Partisan' idiot on a soccer forum.

- posted 4/28/09

Am I crying because I thought it up and didnt copyright it? Nah.. it's freakin boilerplate common sense vernacular.
What I would like to point out is that critical thinking that counters your particular rose garden world view aint necessarily 'Paranoid and partisan' Especially if you aint got nothing to counter it with but the same ol' ad hominem attack.

 

Yeah... much is made on the talkers of his admission he knows nothing about cars.
Seems to me a guy who can take over a baby bell and morph it into the mama has something going for him. He didnt do that just on his knowledge of telecom tech.

When ATT was forced to split up, I told everyone it was good and to get out of Ma Bell, I was right then. {Not that I was also smart enough to buy any stock.. the question was WHICH baby!} Southwest Bell proved the point.

But now ATT is back. Can he do the same for GM?
He probably can... but..
Only if he's not taking Friday Nite/Monday Morn conference calls from the swamp.