Taxpayers Gamble on General Motors
Chrysler's sale hitting a roadblock shows how thorny bankruptcy filings can be
Reader Comments
GM bankruptcy
I don't know the political downside of this but it's my theory GM had this coming ages ago. In the first place they shouldn't have been paying their employees as much as they did and they could have done without the union. Why the employees were getting paid $80.00 an hour just to put a bolt in is beyond me. They should have been getting paid $10.00 an hour like every one else in America. To me this was a sham and was totally and completely out of order.
"No interest?" in running a car company?
If this wasn't so serious it would be funny. Barney Frank, of the infamous no problems with Fanny Mae, couldn't wait to tell Government Motors not to shut down a distribution facility in Mass. What will be the next decisions he and the other members of Congress will decide to make for GM. This will be just like shutting down military bases that the military feels are no longer needed. We all know how well that works. They, GM, might as well have a real checkbook to draw funds directly from the Treasury as this will continue until our grandkids finally let them go out of business.
"No interest?" in running a car company?
By MR Obama's "executive order" requiring new emission and mileage standards, OUR Federal government (MR Obama) has taken control over EVERY car company that sells in America.
"No Interest" in CONTROLLING America?
This IS Obama's "change".
18 NEW Czars that are NOT ELECTED or CONFIRMED by Senate?
This IS Obama's "change".
I personaly have ALWAYS driven fuel-efficient vehicles because it makes GOOD CONSERVATIVE SENSE. 2 of my vehicles are Chrysler minivans because they offer all the versatility of a SUV with twice the mileage.
GM has ended up in the hands of Government AND the Unions...the very people who put them out of business in the first place.
Chrysler's bankrupcy is being directed by OUR? Government and is ramming the "secured investors" in direct contrast to typical Bankrupcy Laws.
I hope the Supreme Court WILL step up to protect Free-Market priciples.
