What is Digg?199 Comments
- IndigoChill, on 04/10/2009, -9/+179If enough people love GM enough to privately donate to them, that's one thing. Having money forcibly taken from you to fund someone else's mistakes is something entirely different.
- DocDrea323, on 04/10/2009, -0/+98Companies asking for bailouts are like teenagers asking their parents for money: They go out, waste it, and come back crawling for more.
If you want to play capitalism, fine. Play capitalism. Don't bend the rules when someone can't keep up though. - Uber-Geek, on 04/10/2009, -3/+96rrouse, to expand on your analogy, what if by letting the house burn down, you are able to get rid of all the lead paint and asbestos, and rebuild a better, healthier house?
Did you know that there are people at GM who are paid for 8 hours of work even when they don't actually go to work? Or how about the guys who report to a cafeteria every day and get paid to watch tv and read the newspaper. They are there "just in case" they are needed.
If they file for bankruptcy, they can then trim the fat of all the areas that are completely out of control by the unions and come back better and stronger.
Another point. Let's say you start a business serving coffee, and Starbucks gets a bailout, how would you feel that they are getting saved while you get nothing? That's how the rest of the car companies feel right now.
Our nation is a free enterprise market, if you run your business well, you get rewarded for it, in this case if you run it poorly, your greatly rewarded. - aaronjason8992, on 04/10/2009, -14/+54***** the RIAA
- inactive, on 04/10/2009, -6/+43the greatest joke was the 700 million that Obama offered up to small business. But small business revenue far out numbers GM, yet the money offered to GM is way more than that 700 million.
Politicians (including Obama) are just paying back those companies and industries that PAID to have them elected.
It's disgusting how the politics of this country work. No one gives a damn about my business (except for I'm sure my employees). So I work and scratch to keep it running so that I can continue to keep my employees working. - Hamakuas, on 04/10/2009, -1/+35Detroit was by and large in full fledged fail mode when the economy is booming, why people are blind to that I do not know. If they couldn't compete in a booming economy who the hell thinks that in a recession they are in a healthy enough position to turn things around. It's hard enough for successful companies to stay out of the limelight.
This is what recessions do in capitalism, it's how capitalism works, ***** business models die... or *ahem* get restructured. That's what bankruptcy is, it's involved restructuring of a business. I am surprised we infused them to begin with. - tricksternole, on 04/10/2009, -0/+28They have a failing business and an obsolete plan. It's failing for a reason. Bailouts are just delaying the inevitable. Stop regulating the market and let it regulate itself.
- sciencelovesyou, on 04/10/2009, -0/+26I think this is more like someone building a house, then adding new wings onto it made out of matchsticks and sandpaper. Then, when it catches fire, they keep taking parts of my house and stapling them on.
- Konrad9, on 04/10/2009, -5/+30As long as the domino effect is avoided, they can go bankrupt.
But if the full domino effect occurs, we are awesomely *****. - GreatSunJester, on 04/10/2009, -0/+23Welfare is supposed to be a safety net -- not a hammock.
- peters1023, on 04/10/2009, -1/+21It's not like that at all. GM is a business. NOT someone's home that was involved in a tragedy or natural disaster. This is a product of union control and poor business practice. You are saying we should reward GM's slothfulness and poor business sense? Not to mention their utter lack of innovation until the last MAYBE 5-8 years.
This is supposed to be capitalist America, where if a bloated non-profitable company can't float, well, it drowns. Thereby leaving space for a more efficient replacement.
rrouse shut up and go take an econ course. Hopefully when you talk afterward you won't be as stupid as you are now. - ConcernedCanuck, on 04/10/2009, -2/+21But what if you could build a better more efficient house out of the ashes of the old house?
http://www.youtube.com/watch?v=Z-SuYQ5bVKk - chadpryor, on 04/10/2009, -1/+18If the auto industry goes bankrupt they might as well close the doors on Michigan's economy, it's been in a recession for many years longer than the rest of the nation, and this would finally collapse it completely. According to the Bureau of Labor Statistics, Michigan's current unemployment rate is 12% and you can imagine what it will look like after its biggest industry goes bankrupt. The rest of the small businesses in Michigan rely on employees from the auto companies patronizing their business. Every job lost is money lost in commerce for small businesses and Michigan loses one job every six minutes.
http://www.bls.gov/lau/ - Jareth86, on 04/10/2009, -0/+14Obama has said that he will let them go bankrupt and split up if they crash again. Lets hope he sticks to his word.
- pinchduck, on 04/10/2009, -3/+17What I don't understand is why banks are being pumped up with trillions, which they apparently then waste, and Obama and Congress either ignore it or wring their hands and say 'ooooooh, we were duped again by the bad men, oooooooooh, I hate that. Here, have a few more trillion', yet they take a completely punitive stand with the auto makers. Yeah, the auto makers made their bed and should have to deal with the consequences of their decisions, including bankruptcy if it comes to that. But they aren't the ones that put the global economy in the *****. Those guys are still getting multi-million dollar bonuses and Congress acts like their job is to print money faster instead of holding the crooks to task. Hell, the Fed won't tell them where the money is being spent, and won't let the good banks refuse the loans or give them back! *****.
- PandaBearShenyu, on 04/10/2009, -1/+15Americans should demand a free car for everyone in the family if GM insists on continue taking their money.
- damnitdan4evar, on 04/10/2009, -8/+20I don't understand how this is a common perception while we're still spending almost a trillion dollars of our money on saving banks and financial corporations. A couple billion more for actual manufacturing companies is nothing at this point.
- zboyet, on 04/10/2009, -2/+14Yeah we have a silly thing here called the free market where bad companies are supposed to go out of business and good ones thrive. At least that is what it used to be...
- rnewson, on 04/10/2009, -2/+13"or is it okay in the case where it benefits humans rather than corporations"
Yes. - TheCash, on 04/10/2009, -0/+11Let 'em fail I guess. Ford has been keeping it's head above water even without government bailouts, so if GM and Chrysler can't do equally as well if not better WITH bailouts, ***** em.
- Pixelante, on 04/10/2009, -3/+13Obama has said a lot of things, like all politicians do. What he actually DOES is another matter.
- vsujohn2, on 04/10/2009, -1/+11But really though. Things will have to turn around somehow. You can't just prop up a failing business model because of the side effects of not propping it up. From the ashes, and over time, a newer leaner michigan will emerge.
- Demener, on 04/10/2009, -0/+10Because many of us are against ALL of these bailouts.
- peters1023, on 04/10/2009, -1/+11This is exactly the reason that your company is surviving. You are forced to run efficiently with minimal expenses and under a sound business model. Had the govt been giving you handouts over the last three decades you'd probably not have survived the last 2 recessions. . .
- Santad, on 04/10/2009, -3/+13"Having money forcibly taken from you to fund someone else's mistakes is something entirely different."
Does this also apply to welfare, or is it okay in the case where it benefits humans rather than corporations? In essence you are still funding someone else's mistakes. - peters1023, on 04/10/2009, -0/+10lmao. Referendum? Won't happen and almost never does.
Oh and we are officially a republic. If you want to take that to the extreme it means we can't decide anything above our local representatives and municipal government. Which also means the popular vote during a presidency election, by law in many states, means jack. Most Americans don't know that though.
Who am I anyway? Reduced to a fraction this is what an American is :
1/300,000,000 - inactive, on 04/10/2009, -1/+10It was called the "Jobs Bank". Probably one of the most egregious union negotiated bennies ever conceived.
- zadadka, on 04/10/2009, -0/+9Agreed.
They should have done the same with the banks, instead, it is simply inevitable there will be subsequent. "credit crunches". - Sirocco, on 04/10/2009, -4/+13Drop in the bucket.
Failure should not be rewarded. - inactive, on 04/10/2009, -1/+9Chrysler went bankrupt in the 1970's or 1980's (I forget exactly) and emerged a MUCH stronger company, delivering a much higher quality product that had style as well.
- carlosos, on 04/10/2009, -0/+8There are good American cars and I'm saying that as a German living in the USA.
Especially GM has good cars at the moment but the company works very inefficient.
Also, isn't competition good for everyone? I believe that GM and Chrysler need bankruptcy but the companies should continue making cars (under new management). - radanator2, on 04/10/2009, -6/+14I don't plan on even buying a GM or Chrysler, why the ***** do they get my money???? I say not only let them fail, but give me and everyone else their money back, THAT will stimulate the economy. There's something really, really ***** up goin on here that someone's is not telling us.
- bombula, on 04/10/2009, -2/+9It's way more than 26,000 if you include all the industries that are dependent upon cars - dealerships, parts and service, accessories, and so on. On top of that, if these companies go under completely then tens of millions of people will suddenly own a car without a warranty that has zero resale value, those leasing the cars will not be able to turn them back in (or the financing companies will get saddled with them, creating another financial crisis), and after a while there will be no parts left to repair these vehicles with since the plants that make them have all closed.
So yeah, the impact would be just a little bit more than just 26,000 jobs lost. - inactive, on 04/10/2009, -1/+8Capitalism is suppose to be run on efficiency, these companies are not efficient. They now rely on the government to be kept in business. Which is very similar to how communism works.
Yearly American sales(GM)
Calendar Year Total U.S. sales Chg/yr.
2001[79] 4,904,015
2002 4,858,705 −0.9%
2003 4,756,403 −2.1%
2004[80] 4,707,416 −1.0%
2005 4,517,730 −4.0%
2006[81] 4,124,645 −8.7%
2007 3,866,620 −6.3%
2008[82] 2,980,688 −22.9%
(Chrysler have similar figures)
They are now selling only 60% of what they were selling in 2001. It is time they get restructured.
Cmon America it is time to break free of the status quo and lead the world through innovation like you did in 20th century. - darrellcskinner, on 04/10/2009, -0/+6...and the other 1/4 works for either company....
- Demener, on 04/10/2009, -2/+8I'd rather see tax dollars keep a family off the streets and children fed than given to the plutocrats who are robbing us blind.
But it's ok, lets just let all these people fall through the cracks until most of the people in America are living in 3rd world country conditions.
It's called a ripple effect, if you need an example look at the housing market collapse. - inactive, on 04/10/2009, -0/+6So here's a hint for those people in Michigan: MOVE! Abandon ship. Go to somewhere that is not a decayed relic of American industrialism. To borrow a phrase from Sam Kinison "Move to where the ***** FOOD is."
- peters1023, on 04/10/2009, -1/+7You shouldn't have led him to believe his analogy even made sense. But I like your effort in trying to make rrouse understand that GM as it is should burn.
- 16sinker, on 04/10/2009, -1/+7Welcome to Digg Mr, Brownshirts. You're an idiot!
- SteelChicken, on 04/10/2009, -0/+6The quality and value of Americans cars is much better than the dark days of the 80's, but now their biggest problem is management and unions. Well that, and morons like you who dont have a clue.
- Soyea, on 04/10/2009, -1/+7Well it's our money right? and the folks in DC mange this money for us collectively.They haven't done a very good job at managing our money now have they? yet they temd to thing that they can manage the car boys?
How about this. No to the car boys and No to the DC boys.how about American taking back there country from the corruption. then any time there is any sort of power involved there will be corruption. but enough of giving our money away. perhaps giving it back to the people would be a better idea. - PopcornDave, on 04/10/2009, -0/+6So 3 out of 4 people think that GM should go bankrupt. Do 3 out of 4 people know who their representative is in Congress?
Yes, GM should probably go bankrupt and be reorganized. But asking people their opinion on something like that and taking it as something that should be done because the public says so, you might as well go to the zoo and ask the same question in the moneky house. You'll get about the same results. - subacetylene, on 04/10/2009, -1/+7I'd much rather see a bailout given to Tesla Motors then GM or Chrysler.
- Demener, on 04/10/2009, -0/+5Maybe you missed the part where Ford is doing fine?
- hokie47, on 04/10/2009, -0/+5Just look at the CompUSA article on Digg today. They sucked and did not change so they went out of business, now a hopefully better and improved CompUSA will emerge. I would love to see a lean GM. Cut half of their ***** cars, get rid of their old 20th century way of buying cars at bloated dealers. Turn GM into a lean pull based manufacture that builds cars that people actually want.
I just don't get if I were CEO I would make drastic cuts right away. Why do these guys sit on their asses. IDIOTS! - DifferentAngle, on 04/10/2009, -1/+6They have people paid w/o working because the union strikes every time they dont get insane treatment like that. Is it fair to allow labor monopolies to topple entire industries? All blue-collar workers in the entire american auto industry are in the same union, it's ridiculous.
- itstodd, on 04/10/2009, -2/+7let them die. Thats business. You dont like the rules of the game dont play. The second they took a penny of my tax money was the last time i ever considered buying one of their cars. I will never ever own anything that the UAW was involved in. I would own a Ugo before a GM or Chrysler car.
- inactive, on 04/10/2009, -1/+6Only in Amerika is stealing a pack of cigarettes considered a "crime" while stealing billions from taxpayers to pay off big corporate special interests is called a "bailout"
- Demener, on 04/10/2009, -0/+5That's because they did what is referred to as "Putting all your eggs in one basket."
- inactive, on 04/10/2009, -7/+12Dear GMC,
Your vehicles are big, worthless gas-guzzling pieces of *****
Nobody wants them. We have to eat.
Signed,
a 99%-er -
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