Save General Motors ?

smkettner said:

Come from? Maybe skip the funding of the union trust fund?

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So let's say you have borrowed a gallon a gas from your neighbor. One day you're driving down the highway and low and behold you run out of gas. While you're waiting on the side of the road someone comes along. You say, "hey could you help me out, I need some gas to get home". And his reply is, "well if you would simply not pay your neighbor back the gallon of gas you owe him you would have a gallon of gas to get home". And they live happily ever after...

Well, do you trust the New-GM enough to buy anything from them, or even trust them enough to pay their bills to a supplier.

After all, this "New-GM" has only been in business a short time!

I read yesterday that Wall Street wants China to buy the U.S. Treasuries stake in GM. No offense to Chinese "Corporations" but they are state owned and run with spotty human rights and pretty much criminal environmental records. I had to do a double take at first but then I "got it". GM's preferred share holders are still crazed about the Unions getting 17.5% of the company. Chinese shareholders would be the perfect ally to fight the union/owners and give GM execs access to 1.3 billion workers that will build cars for $.60 an hour. Not all the U.S. union jobs would be gone though. A few Americans would be kept in our ports to put the "Made in China" stickers on GM's cars.

indyflick said:

smkettner said:

Come from? Maybe skip the funding of the union trust fund?

Click to expand...

So let's say you have borrowed a gallon a gas from your neighbor. One day you're driving down the highway and low and behold you run out of gas. While you're waiting on the side of the road someone comes along. You say, "hey could you help me out, I need some gas to get home". And his reply is, "well if you would simply not pay your neighbor back the gallon of gas you owe him you would have a gallon of gas to get home". And they live happily ever after...

Click to expand...

I don't see the connection. However if you promise people a lifetime of gasoline (union retiree healthcare, pensions etc.) along with maxing out your current monthly costs (union wages, benefits) and pay yourself handsomely with the good life(excutive salaries and benefits) then suddenly the business turns down a little (recession) maybe you can't make good on all your promises of lifetime benefits etc etc. So what happens is the BK court makes the tough management decisions for you by saying no to all the goodies you promised. Well unless the government is willing to step in and pay everyone off and accept a risky equity position. GM should have been in BK one or two years before they actually filed but with bailout mania started by Bush and his war cronies there was opportunity to extract money from the government and the union and GM management were able to get away with it.

I fear GM is just the servicer for alot of Big Oil plans (biggest owners of oil shares are also the biggest owner of GM shares). I will be watching the Volt very carefully.