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Politics : Formerly About Advanced Micro Devices

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To: longnshort who wrote (672319)	9/7/2012 8:05:00 PM
From: Don Hurst	Read Replies (4) of 1582927

>>"GM union members are alive for now, he totally fukked the bond holders. GM will fail again because the union guys will bring it down. The only reason it is making any sales is because Obama is forcing governments to buy their cars. GM could have stayed alive if they went the ford route, Ford is alive and it didn't cost the tax payers a dime. Obama is a failure."<< You really haven't got a clue about the American Auto Industry and what was happening in 2008/2009... Ford was lobbying very hard for the bailout to GM and Chrysler because they knew very clearly what would happen to all of them if the thousands of suppliers stopped being able to supply... >>"Without financing during bankruptcy, GM and Chrysler would have had to go out of business, taking down many suppliers. That would have likely caused bankruptcies at the healthier automakers such Ford Motor ( F, Fortune 500), who would not have been able to get the parts they needed to build cars. That is why Ford went to Capitol Hill in late 2008 pushing for the rescue of its rivals."<< money.cnn.com And Ford was very lucky that they had a Chief Financial Officer, Allan Gilmour, who had very wisely gone to the financial markets in mid 2000s and secured funds to see them through the American Auto Industry unprecedented sudden collapse of demand. Ford, however did get $5.9Bn in Gov't loans to "retool" their plants and asked for a $9 Bn "credit" line from the Gov't. And oh yes, they lobbied hard for the "Cash for Clunkers" program. factcheck.org

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