Boater wrote:
Tom Francis - SWSports wrote:
On Sat, 6 Dec 2008 23:59:58 -0500, "Eisboch"
wrote:

The auto industry's contracts and historical ways of doing business
need a complete overhauling in order to be a viable, competitive
entity in today's global markets. Chapter 11 reorganization,
prepackaged with a government bridge loan to keep the beast breathing
during the process, makes sense to me.

While I understand the idea, I don't want money going to GM. Ford
doesn't want the money, just a backup which is one hell of a lot less
expensive.

Let GM sink. If they can't get through Chapter 11, tough. Let them
go Chapter 7 and disappear.

Ford, Toyota, Honda and others will take up the slack.

Survival of the fittest.


I think you are grossly minimizing the impact of a GM sinking. It's not
just GM that will sink.

In the end it will be GM executives and management and UAW management
and union members who will suffer the most, but they have had the
biggest gain over the last 40 years. The sale of raw materials will move
from GM to Ford, Toyota, Honda and other manufactures in the US. The
economy will take a hit for a few years but will will survived just like
we did when the steel industry collapsed.

On Sun, 07 Dec 2008 12:38:58 -0500, BAR wrote:

Boater wrote:
Tom Francis - SWSports wrote:
On Sat, 6 Dec 2008 23:59:58 -0500, "Eisboch"
wrote:

The auto industry's contracts and historical ways of doing business
need a complete overhauling in order to be a viable, competitive
entity in today's global markets. Chapter 11 reorganization,
prepackaged with a government bridge loan to keep the beast breathing
during the process, makes sense to me.

While I understand the idea, I don't want money going to GM. Ford
doesn't want the money, just a backup which is one hell of a lot less
expensive.

Let GM sink. If they can't get through Chapter 11, tough. Let them
go Chapter 7 and disappear.

Ford, Toyota, Honda and others will take up the slack.

Survival of the fittest.

I think you are grossly minimizing the impact of a GM sinking. It's not
just GM that will sink.

In the end it will be GM executives and management and UAW management
and union members who will suffer the most, but they have had the
biggest gain over the last 40 years. The sale of raw materials will move
from GM to Ford, Toyota, Honda and other manufactures in the US. The
economy will take a hit for a few years but will will survived just like
we did when the steel industry collapsed.

And the heavy machinery market and the machine tool business, etc.

--

"An idealist is one who, on noticing that
a rose smells better than a cabbage, concludes
that it will also make better soup."

H.L. Mencken