U.S. Forces Out GM CEO Wagoner - WSJ.com
Among challenges the administration faced leading up to this weekend’s decision, foremost were the efforts to draw steep concessions from the United Auto Workers union and from the bondholders.
Attempts to solidify deals with the UAW and bondholders were slowed by disagreements by both parties over how exactly the other party needed to budge. The UAW, for instance, insists it already made health-care concessions in 2005 and 2007, and argues that the bondholders have never been asked to concede anything.
“I don’t see how the UAW will do anything until they see what the bondholders will give up,” one person involved in the negotiations on behalf of the UAW said Sunday.
I don’t see Obama forcing his biggest contributors of cash, volunteers, and organizational skills to give up anything, either. Which is why I expect Government Motors to go bankrupt. I certainly wouldn’t buy a GM product right now. The government is going to “guarantee” the warranties? Yeah, I can see that being a huge reassurance to buyers.
And I just glanced at the tv - the market is down nearly 300 points. Seems this socialist crapstorm isn’t getting favorable reviews.
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Good luck finding a mechanic that will do the work once the GM dealers fold or switch brands. If you think getting Medicare to pay a bill is hard just wait for this. (and wait, and wait….)
Once had a Suburban, because we’re a large family (three massive kids and ourselves) and took many long-distance car trips, but that was only because the Suburban was significantly cheaper than the Ford Behemoth.
As soon as two of the kids got cars, we dumped the Suburban quicker than last week’s leftovers.
There’s not a single GM offering we’d consider, now. Not one.
You morons at GM need to listen. I own, currently, five GM products. I would purchase another GM if you were in normal bankruptcy.
I will not purchase a vehicle from a government run and controlled corporation. Ever.
I actually WANT to buy a GM product, the new Camaro. I drive a GTA Trans AM. (PLEASE do not get me started on my opinion of GM dropping BOTH the Camaro and the Firebird. Seriously.)
I drive a fast car because I drive fast. Sorry.
I have wanted one since they first said they were coming out in 2007. They didn’t.
Now, like Barry, I am not at all sure I want one.
DCP.
Then check this out. Ford will still be around making ponies.