President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.He’s right about the president being awfully proud of “rescuing” GM. Remember this from last week?
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The current head of GM said about a month and a half ago that another bankruptcy was quite possible. They sold out the bond holders and gave a sweetheart deal to the UAW. I say, let them go through REAL bankruptcy, it'll take care of those union contracts :)
ReplyDeleteI hope so!
ReplyDeleteThe unions will be out of money after their contributions to the next election.
ReplyDeleteAfter what GM did to so many innocent people during the Obama bailout, I actually hope they get their comeuppence.
ReplyDeleteGo bankrupt you rat bastards!
Part of the "fair share" plan of obama. If our country is going to keep unemployment at 8-9%, then even GM workers must do their "fair share"...c'mon brothers, a little sacrifice, okay?? GM is not alone (by far) in doing these things to workers and shareholders. Legal, perhaps, but it's this kind of financial sleight of hand and outright scam that has so many middle-class people outraged. If a company goes bankrupt, then EVERYONE takes a lick. The workers should not lose their jobs, pensions, and benefits while the CEO and his minions get huge multi-million dollars payouts, retirement packages, and bonuses. The LEADERS of a company should take the biggest hit if THEY were in charge when the company goes down in flames...
ReplyDelete9:39
ReplyDeleteI agree.
Rick Wagoner and Fritz Henderson should have been put in jail for what they did.