GM told to prep for bankruptcy filing: report

[cybok0]

http://www.comcast.net/articles/finance/20090403/BUSINESS-US-AUTOS-GM/

[Carl]

This is the way they will screw all the union people. Obama should do something to help the people with legacy benefits.

[Bob Haller]

once the chinese and indian imports arrived even bankruptcy wouldnt help.

US heavy manufacturing is or will be dead.

courtesy of free trade

[Derwin0]

once the chinese and indian imports arrived even bankruptcy wouldnt help.

You mean like the cheap Yugo did?

No, consumers have abandoned the Big 3 in favor of Japan for 1 reason, Quality. The big 3 didn't start losing market share to the foreign automakers until Toyota and it's brethren started putting out quality products.

[Derwin0]

This is the way they will screw all the union people. Obama should do something to help the people with legacy benefits.
Why? Government didn't write those contracts. The employees have the same protections to their benefits that everyone else has through ERISA.

Or should they get extra just because they're union. :rolleyes:

[Carl]

Why? Government didn't write those contracts. The employees have the same protections to their benefits that everyone else has through ERISA.

Or should they get extra just because they're union. :rolleyes:

They should get what is owed them nothing more nothing less. I think when they go into bankruptcy they will screw the employee out of the benefits. Just wait.

[Derwin0]

They should get what is owed them nothing more nothing less. I think when they go into bankruptcy they will screw the employee out of the benefits. Just wait. I agree, but they are owed nothing more than anyone else is.
And yes, bankruptcy will probably reduce some of those benefits, especially if the court determines they must be reduced in order to save the company, because with no company, then no benefits.

[Carl]

I agree, but they are owed nothing more than anyone else is.
And yes, bankruptcy will probably reduce some of those benefits, especially if the court determines they must be reduced in order to save the company, because with no company, then no benefits.

The common man gets sold out while the corporate big wigs gets bailed out.

[Bob Haller]

You mean like the cheap Yugo did?

No, consumers have abandoned the Big 3 in favor of Japan for 1 reason, Quality. The big 3 didn't start losing market share to the foreign automakers until Toyota and it's brethren started putting out quality products.

technology has changed lot since the yugo came out in what the mid 80s?

sure apppears low price is driving our purchases perhaps more so since so many high paid jobs have left our country.

4 grand for a brand new car? poor quality so junk it in 4 years:free-sick-smileys-1

want a better one with 100,000 mile warranty? 8 grand delivered from china.

the taxpayers will have to pay for the bankrupt pension plans.

[fallout2600]

Had Bush let GM go bankrupt, we'd probably already be buying GM cars again.

[Carl]

and all the people who have worked for them thier entire life would be screwed. Not a good idea to let them go bankrupt.

[fallout2600]

Kinda like the way people are going to be screwed out of their Social Security?

[vurbano]

This is the way they will screw all the union people. Obama should do something to help the people with legacy benefits.
ANd while he is at it maybe he can give serial rapists immunity too. Same thing. That Union's system and contract is unsustainable and should be abolished. Unions themselves should be outlawed. It is nothing but blackmail now.

[froggigger]

ANd while he is at it maybe he can give serial rapists immunity too. Same thing. That Union's system and contract is unsustainable and should be abolished. Unions themselves should be outlawed. It is nothing but blackmail now.

Unions outlived their usefulness long, long ago.

[cybok0]

Unions outlived their usefulness long, long ago.

I agree.

[msmith198025]

Unions outlived their usefulness long, long ago.

I agree 100%. There was a time for them to be sure, that time has come and gone. They do FAR more harm than good.

[fallout2600]

Unions are a tool of the govt. People need to embrace freedom.

[froggigger]

Unions are a tool of the govt. People need to embrace freedom.

We don't have a big enough thumbs-up for that one.