Bailout or Bankruptcy?

sbsmoov · 12-12-2008, 09:30 AM

What's your opinion?

Do you support a bailout or do you think a restructuring via bankruptcy is the best way to go?

Here's mine--I think a well organized bankruptcy process is the way to go. Those profit killing UAW contracts need to be renegotiated so that GM can be competitive again--the current contracts can only be nullified via a bankruptcy process.Throwing money (15 billion+) at an inefficient company (like GM), which is already 62 billion+ in debt and burning money at an alarming rate is just flushing tax payer dollars down the crapper. It will just pay their bills for a few more months and then they will be back on Capitol Hill again asking for more--like a fat man at a buffet after eating his first plate.

zero · 12-12-2008, 10:12 AM

I support only if all CEO's and UAW bosses would take a hike. They are old dogs who refuse to change and think they are untouchable.

dad · 12-12-2008, 06:11 PM

Quote:

Originally Posted by sbsmoov

What's your opinion?

Do you support a bailout or do you think a restructuring via bankruptcy is the best way to go?

Here's mine--I think a well organized bankruptcy process is the way to go. Those profit killing UAW contracts need to be renegotiated so that GM can be competitive again--the current contracts can only be nullified via a bankruptcy process.Throwing money (15 billion+) at an inefficient company (like GM), which is already 62 billion+ in debt and burning money at an alarming rate is just flushing tax payer dollars down the crapper. It will just pay their bills for a few more months and then they will be back on Capitol Hill again asking for more--like a fat man at a buffet after eating his first plate.

I agree! They got their *** into failure, let them get out of it on their own!

370ZINMO · 12-12-2008, 06:11 PM

Let capitalism work!!!!!!!!!!!!!!!! If a company cannot survive on its own, it must fail, Period!!!!!!!!!!!!!!!!! There is a reason I am buying a Nissan, and not a Chevy, Ford or Chrysler. I speak, and we all speak with our wallets. I think americans have been speaking far too long. I'm surprised the big 3 are still open for business actually. Let them fail or succeed on their own.

12-12-2008, 09:30 AM	#1 (permalink)
sbsmoov Base Member Join Date: Nov 2008 Location: New York Posts: 54 Rep Power: 17	Bailout or Bankruptcy? What's your opinion? Do you support a bailout or do you think a restructuring via bankruptcy is the best way to go? Here's mine--I think a well organized bankruptcy process is the way to go. Those profit killing UAW contracts need to be renegotiated so that GM can be competitive again--the current contracts can only be nullified via a bankruptcy process.Throwing money (15 billion+) at an inefficient company (like GM), which is already 62 billion+ in debt and burning money at an alarming rate is just flushing tax payer dollars down the crapper. It will just pay their bills for a few more months and then they will be back on Capitol Hill again asking for more--like a fat man at a buffet after eating his first plate. Last edited by sbsmoov; 12-12-2008 at 09:33 AM.

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12-12-2008, 10:12 AM	#2 (permalink)
zero A True Z Fanatic Join Date: Dec 2008 Location: Southern California Posts: 1,259 Drives: MK 7.5 Golf R Rep Power: 23	I support only if all CEO's and UAW bosses would take a hike. They are old dogs who refuse to change and think they are untouchable.

12-12-2008, 06:11 PM	#4 (permalink)
370ZINMO Base Member Join Date: Nov 2008 Location: ST. Louis, MO Posts: 41 Drives: Suzuki Boulevard C50 Rep Power: 288	Let capitalism work!!!!!!!!!!!!!!!! If a company cannot survive on its own, it must fail, Period!!!!!!!!!!!!!!!!! There is a reason I am buying a Nissan, and not a Chevy, Ford or Chrysler. I speak, and we all speak with our wallets. I think americans have been speaking far too long. I'm surprised the big 3 are still open for business actually. Let them fail or succeed on their own.