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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: rich evans who wrote (406212)	1/23/2011 5:53:36 PM
From: Bearcatbob	3 Recommendations Respond to of 794329

Why would it have had to be liquidation and not Chpt 11 like all the other union driven bks.

To: rich evans who wrote (406212)	1/23/2011 5:57:52 PM
From: Katelew	1 Recommendation Respond to of 794329

Thanks again, Rich. I was commenting about GM when I honestly didn't have enough info to make those comments, so I appreciate your lengthy answers.

To: rich evans who wrote (406212)	1/23/2011 6:27:43 PM
From: Carolyn	Read Replies (1) \| Respond to of 794329

Why couldn't they go into bankruptcy, reorganize, get rid of the unions, and go from there?

To: rich evans who wrote (406212)	1/24/2011 12:39:41 PM
From: J.B.C.	6 Recommendations Respond to of 794329

Government had to intervene. Why? No reorganization was possible without the Gov. You say it, but don't say why that's so. United Airlines reorganized w/o government intervention? The economy and nation could not have handled such massive economic disruption. Really? Pouring billions into a rat hole? Vs forcing an entity that has crippled itself through an unproductive relationship with unions to close. The demand for cars is still there. Closing GM, closing Chrysler will result in higher demands for Toyota, Honda, Nissan, cars already made in the United States, driving up job growth for those companies. Manufacturers whose productivity is proven to be much better than GM's. Even Ford figured out how to make it. So the answer is maintaining an albatross through our tax dollars? Where is the demand for productivity improvements for GM? There are none when the US taxpayer via the statist come to the aid of a failing company unable to overcome its own weight. All in all it was cut your losses short for the nation and a better result then any alternative. I don't think anyone can truthfully make that statement. Iceland let their 3 major banks fail, can you imagine that? What happened? Iceland is still there and the picture is improving. So I don't accept the premise that letting GM fail would have led to our ruin. The Goverment will get their money back if they sell their shares for $53/sh. When will that be in 3 years 4 years, 15 years?.... What will our 2009 dollars be worth then vs other missed opportunity costs?