Car-Forums.net

[devries90]

http://www.engineeringnews.co.za/article/auto-industry-2011-06-17-2

[cornwallis85]

and? Did any of the tax dollars I paid to help save their a$$ get refunded to me? No


Oh, ok, and this is coming from the guy who thinks that it's ok for illegal immigrants to live here because it will cut down on food costs. LOL

[burt]

Lefties, did you know Ford didn't accept a loan?

[darce46]

that was when loans had to be paid back...now its all money laundering...GM is just that...Government Motors....

[curt95]

No auto company paid the money back, that is just spin to try to make 0bummer look good.

As far as your point that the handouts saved jobs, We will see in the long run if many others do as I will and never buy another GM or Chrysler product.

[addams40]

No auto company paid the money back, that is just spin to try to make 0bummer look good.

As far as your point that the handouts saved jobs, We will see in the long run if many others do as I will and never buy another GM or Chrysler product.

Who was paid the interest on that loan? ....The same people who created the money out of nothing. How about that fraud for ya?

"the loss of 3 million jobs would have put us in a second great depression with you selling apples on street corner just to survive, or selling something else."

LMAO! Read into propaganda much? You act as if those companies, all their assets, and all their property would just disappear! NOT TRUE! Other competitors would take advantage of their liquified assets and turn it around....this involves employing people.

The government failed to save Delta Air Lines....they filed Ch. 11, and look at them now!


ADD:

"there still would have been massive layoffs." ~ Well sure. That's what happens when a bubble busts; the economy naturally contracts. It's economically healthy to let the process be handled by the markets. The 'mass layoffs' are conducive with the necessary actions required to promote growth. You just need to learn why boom and bust cycles take place.


"Whoever controls the volume of money in our country is absolute master of all industry and commerce. And when you realize that the entire system is very easily controlled, one way or another by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate" ~ James Garfield


"Other competitors would take advantage of their liquified assets ...meaning closed plants. no workers inside those plants" ~~ Much of those assets aren't worth anything when they are idle. You claim a China-based company would be the competitor.... then we need to be more competitive. The only way to generate competition is to lift the burden of the government from the working class. Let them retain their fruits of labor and produce!

Jobs don't begin in the field. They begin in payroll office where the income becomes deposited. If there is less money for the company to hire employees (i.e. 35% Cap gains tax), they simply won't hire.enough labor to remain competitive.

[chavivi20]

Did you have ways to verify that or you just hear it on MSNBC??

[christoforus]

There were some consequences:

GM and Chrysler’s stockholders were wiped out.
GM and Chrysler’s bondholders suffered significant losses.
GM’s lost a series of CEOs.
GM and Chrysler workers made huge contract concessions.
GM and Chrysler ceased to exist. (Unless you’re interested in bankruptcy law, don’t worry about this one. Old GM went out of business. This wiped out its liabilities. Its performing assets were transferred to a new company, which was also named (New) GM, which was owned by the bondholders. The assets that weren’t performing were liquidated.)
In short, the people who owned GM lost their entire stake.

[clemens53]

Cool. I feel so much more secure now.

[fytch51]

And they still build crap. I wonder how long it will be before they fail again?