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RG RG is offline
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First recorded activity by BoatBanter: Jul 2006
Posts: 438
Default Bridge loan to nowhere..


I agree 100%. At first blush many people think of "saving jobs" which is
nice, but not reality. Those jobs have already been doomed, bailout or
no bailout, economic meltdown or no economic meltdown.


Right. It's not about saving jobs in the short run, it's about saving the
domestic auto industry in the long run. Trying to save jobs without
radically dealing with the employer's viability as a global competitor is a
fool's errand. That only results in the scenario of "The surgery was a huge
success. Unfortunately, the patient died". For the first time in history,
there is an opportunity for GM to definitively address the baggage that they
have refused to deal with for so many years. Unfortunately, senior
management appears even still to be reluctant to do so. Enter the bk judge,
stage right.