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flyfishnJan 28, 2011
GM is an amazing company. If you follow there actions through this last recession you will be shocked to know that they are actually putting people to work and keeping their promises to there partners and employees. Kudos to GM!!Comment is buried, click here to see the rest.
ricksiteJan 28, 2011
They may be amazing but they are just not as amazing as every other auto maker.
Closed AccountJan 28, 2011
you mean Government is a amazing company, it has put its union partners to work using tax dollars
conservative_zombieJan 28, 2011
An amazing company? Amazing as in they almost went belly up, saddled with the cost of poor decisions and union concessions? Amazing in that they were given a special bankruptcy proceeding, allowed to shed all the bad and retain the good? Amazing in that they got the opportunity to just wave bye-bye to all the cost associated with cleaning up their environmental damage.
That kind of amazing?
jqp123Jan 28, 2011
"GM is an amazing company."
ROTFLMA!
The only "amazing" thing is your comment ... and what it implies about the lack of insight and education in the US.
flyfishnJan 28, 2011
wow... Please don't settle for less. Do your own digging and find out what really happened. They were in dire straits much the same as other auto companies. They have consistently chosen to behave more honorably than some of their competitors especially in this instance. And the 'can do attitude' that we lack here on this thread is why they are admired by anyone in that industry at the moment. Long Live GM!!
jqp123Jan 28, 2011
Now be honest ... daddy works for GM or others in your family is somehow closely associated with them?
That's the only way humanly possible to drum up so much enthusiasm for a company that has proven itself to be incompetent.
flyfishnJan 28, 2011
Your right. Let's march in there and close the doors. Let's bring their production line to a screeching halt. And tell millions of families all over the world to learn how to Digg so this won't happen again. That is a real job anyway isn't it?..Trolling Digg.com for topics that you can completely explain away in 30 words less. Digg is for real. People are actually on the other side of those links...think of the children.
jqp123Jan 28, 2011
I'll take that as a "yes".
flyfishnJan 28, 2011
or don't you mean 'si' ...or 'Ja' or '(名) はい, 肯定的な返答 ' ...welcome to america!! go buy a GM!
jqp123Jan 28, 2011
" ...welcome to america!! go buy a GM!"
Which has more domestic content, a Toyota Camry or a Chevrolet Camaro?
If helping America is your goal, go buy a Toyota or a Honda.
jigg2009Jan 28, 2011
Ok. So maybe if they don't need that money anymore I can get it :)
Closed AccountJan 28, 2011
let me get this straight, the government owned gm wihtdraws its requests for a loan from itself to itself.
Closed AccountJan 28, 2011
The government no longer owns a majority stake in the company.
Closed AccountJan 28, 2011
33% financial stake, with 100% control over design, developement and management, union has 17.5 financial stake
diggduggjoeJan 28, 2011
They own enough to be certain to make laws to benefit their investment at the expense of Ford and other companies that ran good companies which needed no bailouts. If GM failed, Ford and others would have grown. The bail out did not save jobs, but merely prevented them from moving to other companies. Companies that actually made money in the free market and could be said to be better investments than GM at the time.
Simply, by saving GM, they screwed Ford. At least GM is showing some growth, so maybe the have the management required to improve. Unions were part of GM's troubles and that hasn't changed. If GM and Toyota built the same car in the US, the GM would cost nearly $2000 more. Competitively, that doesn't work.
bluedjinnJan 28, 2011
I'm amazed that Obama didn't mention how well GM/Chrysler are doing today less than two years after the government saved their asses (and a ton of auto component makers as well) in the SOTU speech.
He and the Dems were hammered relentlessly about the auto company deal by the GOP, but it's been a MASSIVE success. No idea why they aren't crowing about it louder.
Closed AccountJan 28, 2011
mostly because ford is doing better
bluedjinnJan 28, 2011
True, and Ford certainly deserves kudos for having the foresight to get their finances/line of credit in a row a couple of years before the storm hit.
However, if GM & Chrysler had gone under, Ford would've likely been sucked down with them, since all of their suppliers would have gone out of business as well. They've pretty much admitted this; it's hardly a big secret.
Closed AccountJan 28, 2011
actually gm & chryslers shares would have been pickedup by ford, bmw, nissan, toyota and the rest. this was nothing more than a union bailout.
jqp123Jan 28, 2011
"They've pretty much admitted this; it's hardly a big secret."
Bovine excrement.
The real problem in the auto industry today is too many manufacturers with too much capacity. The other manufacturers could have easily absorbed GM's marketshare. Any effects on suppliers would have been short lived.
bdbrJan 28, 2011
I doubt it was an accidental omission - this is Washington politics we're talking about here. Anything that is said in an official speech is done so with consideration how it might play out and how it will be attacked. The right wing will never get past the "Government Motors" rhetoric, and Chrysler wasn't such a massive success.
It would be worth mentioning that it will be a cash-positive move. The Center for Automotive Research estimates that the costs will be recouped in reduced unemployment and increased income taxes within two years..and that was prior to the decision to extend unemployment benefits for the 1.14 million people who would have been put out of work if they had let it fail (CAR estimate).
jqp123Jan 28, 2011
"The Center for Automotive Research estimates that the costs will be recouped in reduced unemployment and increased income taxes within two years.."
Assuming that the *estimated* 1.14 million workers (which is a totally fictitious number) would have actually lost their jobs and not be able to find a job with any other auto manufacturer as they absorbed GM marketshare.
Guess where the majority of CAR's funding comes from ... the federal government. Of course, they're going to fudge the numbers every way possible to make this federal government program look like a success.
The reason this was omitted from the speech ... it was a blatant union bailout and everyone knows it so it's best not to draw any more attention to it.
richardweaverJan 28, 2011
Good for them.
monvalleyJan 29, 2011
If it looks like a duck and quacks like a duck, it is probably still government motors