Let GM Go Bankrupt Not without merit, in my view.
Now here's a contentious proposal: Let GM go Bankrupt | Thread profile
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Thread posts in Now here's a contentious proposal: Let GM go Bankrupt:1.
Started 8 months ago (2008-11-08 14:39:00)
by NovaScotian
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2.
Started 8 months ago (2008-11-08 16:07:00)
by cwtnospam
I agree. GM has had over 35 years notice that it needed to produce fuel efficient vehicles. Now we're supposed to believe that it's a surprise that nobody wants a gas guzzler?
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Started 8 months ago (2008-11-08 16:24:00)
by NovaScotian
It's not just fuel efficiency that troubles them, IMHO. Their cars have been beaten out by Toyotas and Hondas, and both of those are manufactured in North America. Why? Because they're much more reliable = better engineered.
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Started 8 months ago (2008-11-08 20:32:00)
by aehurst
GM is only part of the problem, Chrysler and Ford are in no better shape. I'm not particularly fond of any of the three, but we will bail them out. Got to. Together with the related businesses that depend on the auto makers, we're talking about 3 million jobs. With the economy poised to fall into depression, we cannot take a hit like that. And, they are a substantial part of our ...
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Started 8 months ago (2008-11-08 20:37:00)
by styrafome
Such a difficult question. From a pure capitalism point of view, not bailing out is the way. The problem is that people's lives are involved. People and families who may not have another job to go to. But bailing them out (and by "them" I mean any of the companies/banks we've been bailing out lately) carries the risk that we're throwing good money after bad, backing up debt with more debt, which ...
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6.
Started 8 months ago (2008-11-08 20:58:00)
by NovaScotian
Styrafome makes a good point about pension and union obligations the "big" three are saddled with relative to others. Perhaps the government ought to consider taking on the pension obligations and extending those to an earlier age -- full stop. In the long run bailing out a faltering industry is a short-term fix to a long-term problem that doesn't go away after the bailout.
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7.
Started 8 months ago (2008-11-08 21:05:00)
by cwtnospam
I don't think pensions are the problem. I think lack of pensions are the problem. More specifically, I think that businesses have been looking to make profits by cutting compensation to their employees. That's a short term profit maker that guarantees failures of the type we're seeing because it assumes that consumers don't come from the ranks of employees.
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Started 8 months ago (2008-11-09 00:27:00)
by Jasen
It's not contentious at all. GM is not a company vital to the infrastructure of the country, like say, the airlines. If this is a capitalist economy, we need to allow the market to decide the fate of it's players. Many companies have failed over the years, many peoples' lives have been disrupted. The government never stepped in to prop up those failing businesses. And it should not have.
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Started 8 months ago (2008-11-11 19:19:00)
by styrafome
Wow, awesome link. That story explains why I said what I said: Sure, it's a good idea to have employers contribute to retirement and health care, but it's inherently risky - for both the company and the employee - to have the administration happen at the company level, to have the quality of your plan be dependent on your Enron or AIG employer. We need an innovative hybrid between employer-...
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Started 7 months, 4 weeks ago (2008-11-12 10:20:00)
by ArcticStones
. Here is another article on the fate of GM .
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