Can you say payback for votes?
Sources said the struggling car maker wasn’t able to squeeze concessions out of the United Auto Workers – part of the cost-saving terms of its $13.4 billion rescue – despite progress made yesterday.
…….
GM execs have insisted the company only has to show substantial progress by today, with the whole plan finalized by March 31.
Fox News summed it up best:
GM, Chrysler set to pick up the second installment of their federal loans Tuesday, even as the Treasury Department begins to review the two automakers’ restructuring plans, also to be submitted Tuesday.
No one is going to look at this plan and I would bet that was the plan the whole time. We, the tax payers, are paying off their debt, with no chance of recouping the money. Who in their right mind would fall for a buying incentive by either of the companies. If you are going to buy new, go with Ford, Toyota, VW, Nissan, KIA, Hyundai, Honda, or any other car maker. You are not going to get any savings out of GM or Chrysler. Add the cost of the loans to those companies to the price of the car and you will find that you are entering into an upside down car loan..
Is the government going to bail out your employer? The answer is no. It is time for GM and Chrysler to file for bankruptcy protection. The excuse that no one will buy from them doesn’t wash any longer..No one can buy now, so why prolong the inevitable?
Trackposted to The Virtuous Republic, Rosemary’s Thoughts, DragonLady’s World, Shadowscope, Cao’s Blog, Democrat=Socialist, Conservative Cat, Nuke’s, Allie is Wired, third world county, Political Byline, Woman Honor Thyself, The World According to Carl, Walls of the City, The Pink Flamingo, Gulf Coast Hurricane Tracker, , CORSARI D’ITALIA, Wingless – Octuplet Case Raises Ethics Issue, and Gone Hollywood, thanks to Linkfest Haven Deluxe.
This is ridiculous. They need to file for bankruptcy. It is bad business to keep supporting failing ideas or products. They’re Liberals and they have been supporting failing ideas for years, so it makes sense they are in bed together. But, the Republicans need to speak up and say enough is enough and tell these companies to file for bankruptcy and reorganize. It worked for the airlines and it will work for the auto industries.
It sure is odd. The airline unions understood what was at stake and renegotiated their contracts. For some reasons, the auto unions aren’t. Oh…that’s right! They are a huge supporter of the DNC and the DNC will be sure they get what they want, despite what is best for the U.S. taxpayer.
http://franklinslocke.blogspot.com/
Gee, now that I know I have such deep pockets, I’m going to start checking between the sofa cushions for the odd $billion or two…
*sigh*