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114 Comments
- inactive, on 07/06/2009, -10/+36See everyone, they'll be back to making ***** cars before you know it.
- DifferentAngle, on 07/06/2009, -5/+25The union that helped bring them down gets 17.5% - but all of the hard working engineers holding GM stock get.... nothing.
- egaonogenkiII, on 07/06/2009, -3/+20Will we see the Volt now?
- motivatedguy, on 07/06/2009, -1/+15FTA: "The new GM will be 60 percent owned by the US Treasury, the UAW would get a 17.5 percent stake, the Canadian government about 12 percent and GM bondholders about 10 percent. The judge has issued a 4 day stay until the sale can be closed and thus is likely to happen by the end of this week."
So, do I get a tax credit if I buy a GM vehicle seeing as I own a piece of the company? Oh yeah, GM is getting 30 Billion more dollars. - inactive, on 07/06/2009, -1/+14Wow, the Digg algorithm isn't based on the number of diggs, like every diggers know!
Still, lets mention it again! - VitriolAndAngst, on 07/06/2009, -4/+16Oh, and let me guess; free of obligations to American workers.
If we end up buying our GM car at WalMart, built in China -- well, then we will have finally figured out what this was about.
Things aren't really cheap, if we have no jobs to pay for them people. - ghostlywind, on 07/06/2009, -1/+13He could be precognitive
- DifferentAngle, on 07/06/2009, -2/+13Poor management and whatnot can lead to crappy products without the engineers needing to be crappy. They don't get to pick what cars are made and what the budgets are and whatnot.
- diggduggjoe, on 07/06/2009, -0/+11The UAW may actually learn something. Being profitable is damn important to the workers. Fewer luxuries today for a job 20 years from now. It may be a trade they may have to think about for a change.
- DifferentAngle, on 07/06/2009, -1/+11You cant say that when you're only the second comment.
- dmcbride6, on 07/06/2009, -7/+16"The new GM will be 60 percent owned by the US Treasury"
This doesnt worry anyone else? - inkswamp, on 07/07/2009, -0/+8Yes, it worries me because I wouldn't want the government to step in and sully the perfect record that American auto makers have managed to pull off so far.
- Balanced, on 07/06/2009, -1/+9Well, the UAW owns a non-trivial chunk of the company, which will be interesting. on the one hand, they'll expect profits, but on the other hand, they're in a position to look out for the dues-paying workers.
- inactive, on 07/06/2009, -1/+9GRRRR COLLECTIVISTS GRRR
- sciencelovesyou, on 07/06/2009, -1/+8Ron Paul's Golden Guns is the name of my new band.
- bdbr, on 07/06/2009, -1/+7Its good for employees to own a piece of the company - you have a stake in its success. Tech companies have been doing this for years. This is a lot better than the old UAW model where the union bleeds the company until its dead.
- TheCash, on 07/06/2009, -4/+10Or a fair salary, like everyone else.
- bdbr, on 07/06/2009, -1/+7Yeah, everyone likes to say "let GM die", but I'd like to know what the cost would be if we did let it die. We'd be paying a lot of unemployment, that's for sure. And what are the tax implications if we all the revenue from GM goes to Japan? Its not as if our government's spending will go down just because a $189 billion/year company (plus its suppliers, plus the towns that survive off of GM facilities) dies. Maybe we can beg Toyota for some low-wage jobs.
These are the kinds of comments that get you thumbs down with no rebuttal. - mattsouth, on 07/06/2009, -0/+6Billy Mays. Is that you?
- glasszach, on 07/06/2009, -0/+6Rumor has it, some company in China is buying Hummer
- Slipin, on 07/06/2009, -3/+9It seems that most people don't. I mean, they DID just go bankrupt.
- xman8, on 07/07/2009, -0/+5The new kind of government Obama promised. "Reward failure and the lazy, punish success and hard work".
- govsucks, on 07/06/2009, -5/+10When your competition can seize money from the taxpayers when it fails. Thats FAIR competition.
I swear, there isn't a collectivist alive that understand the definition of the words: Fair, Freedom or Force.
According to a collectivist:
Fair: When you treat people differently because of the pigment of their skin.
Freedom: Being told what to do by the state.
Force: What you use to create peace with others. - TheCash, on 07/06/2009, -4/+9I can't wait to see this go down in highly publicized flames. I love Americans, I truly do, but we are a stubborn bunch that have to see something in black and white before we accept it. The government owning this much of such a powerful company = seriously bad idea.
- bdbr, on 07/06/2009, -0/+5Their new models - Camaro, Malibu, Enclave, and 2010 LaCrosse are quite good, actually. And an older LaCrosse won the last JD Power award.
- kevinmoore, on 07/07/2009, -0/+5It's not up to the engineers at all. It's the bean counters and management that are really "engineering" GM's cars.
Want to see a feat of engineering? Go look at the new ZR-1. It's a modern marvel. - inactive, on 07/06/2009, -0/+5Actually, many government owned companies do well by their people. Take Saskatchewans Crowns for instance.
- Zomgondo, on 07/06/2009, -2/+7NANNY STATE PERSONAL RESPONSIBILITY SECOND AMENDMENT INTELLIGENT DESIGN
- MattNF, on 07/06/2009, -3/+89/11 INSIDE JOB CONSIPIRACY FEDERAL RESERVE ILLUMINATI BILDERBERG
- inactive, on 07/06/2009, -0/+4False. China rejected the deal on the grounds of, get this, environmental impact.
- inactive, on 07/06/2009, -2/+6I'll take an f150 or a gm1500 to a tundra any day.
- Zomgondo, on 07/06/2009, -18/+22THIS IS SOCIALISM!!!!111111111111 NEW WORLD ORDER TAXES RON PAUL GOLD GUNS OBAMABOTS ETC
- inactive, on 07/06/2009, -3/+7Now they can fail a second time!
- kevinmoore, on 07/07/2009, -0/+3If they liked the existing Lacrosse they'll love the 2010 model. I drove one that is part of GM's captured test fleet last week and I thought it was really nice. It had every whistle and bell (including cooled seats, backup camera, nav, harman kardon stereo, and a heads-up display) and will sticker for less than $38K.
- setset, on 07/07/2009, -0/+3Just let GM die already. ***** Obama gave that bitch ass company bailout money and they still filed for bankruptcy. Now they want to keep it alive? WTF. DIE ALREADY ***** GM! YOU MAKE ***** CARS!
- inactive, on 07/06/2009, -2/+5I dont know what's so ***** about their cars? Their low line of vehicles is priced a little high for what you get, but otherwise they ride nice and they get decent mileage.
- jba68, on 07/06/2009, -9/+12Because this all occurred withing the last 160 days right? Gm has been hamstrung by the union for a very long time.
You dont like it, don't buy gm... - bdbr, on 07/07/2009, -0/+3So let me get this straight - as a taxpayer, you are part owner in this venture and you want them to fail?
- nertil1, on 07/06/2009, -0/+3NGMCO? They couldn't think of a worse name?
- earthwormzim, on 07/07/2009, -2/+5This ought to be good for a laugh though...a bunch of bumbling bureaucrats trying to compete against companies like Honda, Toyota, and Hyundai...LOL! The only way they will be able to compete is to increase regulation on foreign cars...cuz it's the only card they will have. Post Office part II, engage!
- kromix, on 07/06/2009, -0/+3Fact has it, Sichuan Tengzhong is buying hummer.
- VitriolAndAngst, on 07/06/2009, -2/+4The UAW might be fine -- but maybe not the workers. You only need to get a few people to sell out. Not all Unions are perfect but there is a reason why we have them -- and there is a reason why corporations in Latin America pay mercenaries to kill people who try and start them. There is little benefit to our society, by having the lowest cost workers.
Anyone know if the "profitable part" means; No pension?
Pensions are money OWED -- it isn't GM's to have squandered.
DiggDuggJoe; companies can be a LOT more profitable if they pay workers nothing, and chain them in their seats too. While all this discussion of "fat union workers" went on, the cost of labor of a Ford auto was 10% and the cost of Executive compensation was 40%. Why do you think the media didn't notice that? The debate was this ridiculous $75 an hour that is claimed for Union workers -- that's ALL obligations + pension + health care. The reality is a new Union worker makes $28 an hour and a Toyota worker makes $25 to re-assemble a car made in a Tokyo shop were the GOVERNMENT has Universal Health Care.
American workers have to raise families and not go broke. The discussion really makes me sick. The no-benefit, cheap as dirt workers in other countries ship in equipment and cars with very low tariffs, because that's the status quo garbage that we all got sold. The ONLY possible way to compete with Globalism, is to keep lowering out standards.
Our workers make more than $2? Why, ship that job overseas. You folks have been brainwashed into being petty and cheap -- and it will come around to our pay checks eventually. Saving 10% at WalMart won't work if you don't have a decent paying job. - anixmander, on 07/07/2009, -0/+2Right now, Toyota is doing worse, sales wise. Both Ford and GM sold more cars in the US this quarter than Toyota did.
- Shadic, on 07/07/2009, -0/+2Hello? Sir? You seem to have dropped your brain.
- philoponia, on 07/07/2009, -0/+2If this does work and the new GM starts selling cars and making good money, then I will be very happy to have my taxes lowered by GM's profits.
- inactive, on 07/06/2009, -3/+5Those are the cars you want and that you fantasize Americans want. It's a complete liberal fantasy that America is clamoring for tiny 40mpg cars. Toyota isn't bankrupt and they make cars in every class that GM makes.
- ratsg, on 07/06/2009, -0/+2I don't think that its a rumor.
- xman8, on 07/07/2009, -1/+3You don't have any brain cells left. If this works the new USSA will use the money to make the USSA government bigger. If it does not work you will be taxed in order to cover the loss. YOU will loose either way.
- Zomgondo, on 07/06/2009, -0/+2How about Ron Paul's Gold 'n Guns Revue?
- earthwormzim, on 07/07/2009, -0/+2Bush would do the same *****.
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