The President Comments on the Chrysler Bankruptcy

30 Apr 2009 Author: rikyrah

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Tags: Bankruptcy, Chrysler, President Barack H. Obama

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spirit_55z
I see Larry Summers stays awake when he's standing.
Conserv1
Why are other automakers in the US market profitable, while GM and Chrysler are not…one word…unions.
The UAW will now own 55% in a debt-for-equity exchange that finances the union’s health-care trust fund. The Fed will own 10%. That means that a private, for-profit company will be majority-held by two entities whose priorities are not making cars at a profit but saving union jobs and expanding the web of regulation.
Nardwilly
Wrong again. Toyota is losing money and getting help form Japan. German suppliers are getting help form their government. Health care cost because the American compny workers are older. You do not know what you are talking about.
http://www.bloomberg.com/apps/news?pid=20601087…
Toyota, Facing First Loss in 59 Years, Seeks Loans From Japan
http://www.spiegel.de/international/germany/0,1…
German Auto Industry Seeks Government Help
The high-mileage breakthroughs of Toyota (TM) and others emanated from national policies in Japan and Europe that pushed high-mileage vehicles with stiff gasoline taxes for decades. And indeed abroad, GM and Ford sell their own fuel-efficient compact automobiles and do so very competitively. Their downfall was in the home market.
http://money.cnn.com/2009/02/17/news/companies/…
The burdens of health care that cripple the Big 3 are similarly societal decisions as much as collective-bargaining outcomes. The idea of saddling our firms with soaring and uncontrolled health-care costs is a policy failure, not a company mistake.
Miranda
conserv will now run to try and find a copy and paste that has absolutely NOTHING to do with his initial bullshit or your post that confirms it was bullshit….probably will come back with some ramblings about fiscal conservatives or other such nonsense.
rikyrah
EVENING OPEN THREAD IS UP!!
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http://www.bankruptcyhomeequity.net bankruptcy home equity
I don’t really understand what happened exactly. I guess I don’t understand what Chrysler is to America, other than a company that makes cars. There are plenty others, so why is this one so important? Shouldn’t our tax dollars be used on more important things? If someone could explain more to me, that would be really nice.
http://www.bankruptcyhomeequity.net bankruptcy home equity
This really blows my mind. How could a casino, a place where people go and consistently LOSE tons and tons of money, be out of money? I don’t understand how they would need to file bankruptcy. That’s so crazy. I never realized how much they had to pay out.
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