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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: rich evans who wrote (438229)	12/4/2008 6:24:23 PM
From: i-node	Respond to of 1573691

We can not let them go under as they could not survive bankruptcy. Maybe a prepackaged bankrupty with the Feds financing but that is no different then financing them now with conditions. It is absurd for the taxpayers to hand money over to these guys without the unions FIRST making substantial, HUGE concessions -- at least $20/hour. Otherwise, they will obviously be back wanting more billions a few months down the road. Bankruptcy eliminates this problem, as the court can simply tell the unions, YOU WILL TAKE THESE CUTS AND LIKE IT.

To: rich evans who wrote (438229)	12/4/2008 6:29:35 PM
From: Tenchusatsu	2 Recommendations Respond to of 1573691

Rick, > We can not take the risk. Seems like the strongest argument for the bailout amounts to societal risk management. To me, there is a huge difference between a prepackaged bankruptcy with Fed backing and the current proposals for a bailout. Sure, taxpayers end up paying for it, but the conditions attached to the taxpayer money are a lot stronger when its Chapter 11 vs. a normal loan. Hence to me, the worst thing we can do is pay now AND pay later. If we're going to pay now, let's do it via Chapter 11. IMO, of course. Tenchusatsu

To: rich evans who wrote (438229)	12/4/2008 6:50:28 PM
From: Peter Dierks	Respond to of 1573691

We can not let them go under as they could not survive bankruptcy. If they cannot survive a bankruptcy then it must be done. I don't care to pay for the Hawaiian vacations of UAW workers for the next several decades. If they can compete, let them. A bankruptcy judge can free them of legacy costs that guarantee they lose money on every car they sell. Americans benefit from lower cost of all cars too. Toyota, et al, will reduce their prices to compete with the lower cost structure rather than cede their market share without trying.

To: rich evans who wrote (438229)	12/4/2008 7:43:37 PM
From: Joe NYC	Read Replies (1) \| Respond to of 1573691

Rich, But we have no choice IMO. We can not let them go under as they could not survive bankruptcy. Maybe a prepackaged bankrupty with the Feds financing but that is no different then financing them now with conditions. In bankruptcy, you can break union contracts, and renegotiate some liabilities (such as health care costs to retirees), while voluntarily, you will get nothing from the unions. In bankruptcy, you can negotiate union contract from $7 minimum wage and no benefits upwards, While in voluntary negotiations, you are starting from $73/hr cost. Joe