Don't Bailout General Motors!!!

[shintao]

People, we are not using our heads here by supporting the GM bail out. First off, it is anti-capitalist to bail out the largest automaker in America, who was allowed over the years to shut out smaller business of automobiles, mileage carburators, and defied America's want for clean emmission cars or alternates to combustion engines years ago. Let smaller more innovatative step up and make cars for America.

The real show stopper, is that GM is Global. They have their factories all over the globe, and are not using American labor or American products to build their cars stuck full of European metrics & technologys. One must ask, why should the American taxpayer bail out a company that is using foreign labor and foreign parts?? Are we crazy? Why should I save a foreign workers job in China, S, Korea, or Canada or Mexico, and the list is long folks.

I am for protecting the UAW union workers, but not for the sake of a Trillion dollars be asked. If we must bail out GM, let them first sell out their foreign assests and use their own foreign capital to bail themselves out. Give the auto workers unemployment until GM gets their act together.

Here is some snips, followed with a GM website pointing out their foreign companies around the globe - that hire no American workers or use American products. Be Mad! Contact your representative to stop the bail out.

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Mark Zandi, chief economist at Moody's Economy.com, told the Senate Banking Committee on Thursday that even the $34 billion that the executives of the three companies pleaded for would hardly be enough. Detroit eventually would need $75 billion to $125 billion to avoid almost certain liquidation over the next two years.

$1 trillion in losses
Ford and GM executives pointed to an estimate by J.P. Morgan that the automakers' failure could trigger $1 trillion in losses to the banking system. Levin described that scary figure as key to persuading Paulson to allow automakers access to the $700 billion.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/12/04/MNE714I5VL.DTL&tsp=1
http://hosted.ap.org/dynamic/stories/C/CONGRESS_AUTOS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

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Globally owed GM Corp.


2008-08-18 General Motors Egypt Inaugurates $32 Million Paint Shop Investment

Miramar, FL - General Motors Latin America, Africa and Middle East (GM LAAM) region broke another record in Q2 2008

General Motors South Africa grew its market share by 0.6 percent through the period January through October 2008

2008-11-04 GM Showcases Production Chevrolet Volt in Shanghai

2008-10-20 GM, PATAC, Autodesk, EDS, HP, Siemens and Sun Microsystems Establish PACE Center at Jilin University

2008-10-16 GM India Launches New Chevrolet Aveo U-VA
New Delhi - General Motors India today launched the new Chevrolet Aveo U-VA

GM Japan

S. Korea 2008-10-29 GM Daewoo Introduces All-New Lacetti Premiere Dynamic Compact Sedan

Australia GM Holden's highly acclaimed VE Commodore range has won the carsales.com Ltd

The list of GM COmpanies around the Globe is exhausting. Read http://media.gm.com/help.html#

[BeatleBoot]

1. It's NOT A BAILOUT!

IT'S A LOAN!!!!!!!!!!!!!!!!!!!

What don't you understand about a loan?

Too many dingbats that never worked in the auto industry pontificating about things they know nothing about.

[RB TexLa]

6. It is a bailout in the form of a loan. If they didn't need bailing out they would obtain the loan

on the open market. Since no one will loan them this kind of money they are going to the federal government for a bailout.


edited to add: I'm not saying it shouldn't be done. I would like it done in a different manner but I don't get to decide how it's done. But saying it is just a loan is wrong. The federal government is doing this because no one else will, they have no other resort. They are on their knees begging as a dog does.

[BeatleBoot]

12. Go get a loan on the "Open Market"

Lol!

Have you been asleep since September?

Please.

[RB TexLa]

15. They call here every day offering them

[elocs]

10. Yeah, when I went to buy my new car I asked the bank for a bailout,

but they gave me a loan instead and said I had to pay it back with interest. Damn, I wanted a bailout.

[Angleae]

11. It's only a loan if they have to pay it back.

[stillcool]

2. there has to be a way...

for the United States Government to protect workers from parasitic global corporations.

http://www.rediff.com/money/2008/dec/01gm-to-make-india-asia-pacific-hub-for-power-trains.htm

GM to make India Asia-Pacific hub for power-trains

December 01, 2008 14:42

Unperturbed by the Mumbai terror attacks and its ongoing struggle to avoid bankruptcy back home, US auto major General Motors said on Monday it is making India power-trains development hub for Asia-Pacific region.

The company's Indian subsidiary General Motors India has already announced a total of $500 million investments in the country to set up new car and power-train manufacturing facilities and it will be hiring 500 people in the second-half of next year.
"With our engineering facility in Bangalore as the foundation of our business in India, we are making the country the development hub of power-trains for Asia-Pacific region," GMI president and managing director Karl Slym told PTI.

Considering the fact that the hub will cover countries like Australia, China, Korea, choosing India as the location is a significant decision, he added.

[RufusEarl]

3. 1st, it's a loan not a bail out. 2nd, if Bu$h is against it (and he is),

then i'm for it.

Peace!

[DonCoquixote]

4. It's not a bailout?

If you believe that GM has 1% intention to pay it back, you must think the moon is made of Green Cheese. They have no intetions to pay it, no do they want to actually save their companies from the bankruptcy they want to KILL UAW.

Second if Bush is against it, you are for it, gee, sounds kind of like "you are for us or against us."

[Kalyke]

9. Historically, you would be wrong.

The last loan to a car company - Chrysler - was paid back... with interest.

[nadinbrzezinski]

14. And ahead of schedule...

[RufusEarl]

17. Well it's not just GM, second i'll take their word that it's a loan..

I was under the impression that the loan was to keep GM from filing bankruptcy, because if GM or the other two file bankruptcy the UAW is history and we don't want that do we?

And yes if Bu$h is against or for something, i think i'll take the opposite view. That position has served me well for the past eight years. Have a nice day!

Peace!

[flvegan]

5. GM has a diversified portfolio.

It's still an American company that, if not buttressed by a loan, will cost America millions of jobs.

[kentuck]

7. Acutally, we should give all that money to Henry Paulson....

so he can save our capitalist system. The car companies are much more responsible for their present predicament than are the poor banks. Let's give it to someone that can really use it - someone like CitiGroup. Who cares if 3 million people are thrown out of work and our entire country goes into a deep depression? Maybe we can help AIG find a vacation spot with $35 more billions? Now, wouldn't that be money better spent? Of course, it would!

[firedupdem]

8. It's a loan....

and since I know and love many that work directly for the auto manufacturers or suppliers I won't even read this shit. Too many people feed their families from these jobs and they must be saved.

[nadinbrzezinski]

13. It is a LOAN you dingbat

can you tell the difference between a LOAN and a BAILOUT?

By the way... would you like that Great Depression to last how long?

[DonCoquixote]

18. Der It's a loan..

And if they pay back that loan, they would not be able to do what they have alwasy wanted to do, KILL UAW, because bankruptcy is their only hope of doing that! What makes you think that they will not simply be able to evaporate the money, like they have been doing for the last ten years.

I love how many "union" types demand the BAILOUT, and slam any opponents, but ignore the fact that they are playing right into the Ceo's hands. These are the same people that will be the first to go when they do declare bankrputcy

Of course, there is an alternative proposed by Michael Moore (you know, guy who used to work in Detroit, now does films) He said it would be cheaper to outright buy the stocks, use that as collateral, before doing anything with the loans. Let's alos admit that would help their bottom line far better than any loan would, as it would increase the stock price, and, when the company gets better, allow us to either sell the stock back to the Ceo's, or to others, at a proft, meaning we all get out money back. This would also allow us to have union people oversee this, to make sure the workers do nto get hosed.

But of course, no, just because I think that a bunch of people whpo have screwed their employees for years would screw them again, I am supposedly anti union. Get a grip, this is a new world, and we have to be clever as well as strong, or else we die.

[DainBramaged]

16. Bite my wrinkled old hairy Union ass

I'm sure you are having a ball in Kalifornia doing whatever it is you do. The JAPANESE have their factories all over the GLOBE, what's wrong with that? They TRANSPLANTED themselves here over 20 years ago, with HUGE concessions and decades long tax-free incentives to steal from the Unions.



Clueless, oh and let me add, LOAN, not bailout.