So sad for Wisconsin today

[Anonymous]

Already in.

When was the last time you drove a new GM car?

[Anonymous]

Maybe you will be as lucky as the bondholders of GM who got stiffed while the government honored every union benefit and salary. Investors wiped out while union skates untouched. At least they build a crappy car.

[Anonymous]

Why do you care? The US made many other investor good

[Anonymous]

Anonymous wrote:Why do you care? The US made many other investor good

I owned stock in GM. Got raped.

[Anonymous]

Why they are a union shop?

[Anonymous]

Anonymous wrote:Why they are a union shop?

. Because the company is a welfare operation and the employees and retirees are the welfare recipients.

[Anonymous]

No why did you buy stock in a company that has a union?

[Anonymous]

Anonymous wrote:1 Cuban communist has more wealth than the entire country. Capitalism is not perfect, it's just the best the world has to offer in rising all boats.

So do many african dictators, and they are capitalists. Even Mubarak was in capitalism.
Besides your statement is incorrect. Castro is not the head of Cuba. His brother is running the show

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why they are a union shop?

. Because the company is a welfare operation and the employees and retirees are the welfare recipients.

Just like walmart?
Walmart does not provide health insurance, they do not need to because the workers qualify for medicaid. They make sure the pay is low enogh and with no benefits, the state and the tax payers have to provide it. So the moral of the story is, if you want welfare benefits, work for walmart

[Anonymous]

Anonymous wrote:Maybe you will be as lucky as the bondholders of GM who got stiffed while the government honored every union benefit and salary. Investors wiped out while union skates untouched. At least they build a crappy car.

Oh, you are such a babe in the woods on this one. Your hatred of unions has blinded you to a group blatantly trying to suck at the government teat. And you don't even know it.

First of all, you know they are getting about 37 cents on the dollar now with the current stock price. Yes, you knew that?

80% of GM bonds were held by institutional investors who had bought them cents on the dollar. The reason they bought the bonds was because they believed that GM was too big to fail and therefore they would make a killing off the government's money when the bailout came. Sound like a familiar story? Government teat! Yes, they thought they were weaseling their way into a guarantee on debt that they got on the cheap.

But the government was not obligated or motivated to spend tax dollars bail out the creditors. The government wanted to save jobs and an industry. That means fixing the business and the pension plan for the workers. Sorry, that's the breaks.

Had the bondholders not accepted the deal, they would have had every right to liquidate the company and get what they could. But as you can imagine, there aren't a lot of buyers for large quantities of american auto plants and distressed vehicle brands. And that's why they took the deal. Because there was no other deal. That is business pure and simple

If a large private financier had done the GM deal, no one would have batted an eye. But because it was the government, everyone squeals "Unfair! what about me?!" Righteous indignantion all around. Some of these people paid 15 cents on the dollar for this debt and will end up making a 150% return and they were squealing through the whole process.

[Anonymous]

It would be interesting to know how many of the DCUM posters drive a GM car.

[Anonymous]

Zero

[Anonymous]

Union junk

[Anonymous]

I hope that there is a huge turnout for the protest march in Madison today. The 14 state senators who fled the state have returned and will be joining the march.

This issue has galavanized people across the country who I have never seen care much about politics before -- certainly they never paid attentino to politics in other states, but this one really gets to them and they are realizing that there is an attack against the working class.

People are calling for all union workers in Wisconsin to strike -- but I think that's a bad idea. Walker will fire the government workers, and then people will have no options.

But a BOYCOTT of anyone business owned by someone who was a big supporter of Governor Walker -- that's a great idea.

[Anonymous]

Anonymous wrote:Union junk

That may be your impression, but you probably haven't driven a new one lately. GM's quality has gone up and now they rank above BMW, Audi, Mercedes Benz, and Mini. Yes, they still have not reached the Asians in quality, but I bet most people did not expect this result.

http://www.consumerreports.org/cro/cars/new-cars/cr-recommended/best-worst-in-car-reliability/reliability-findings/reliability-findings.htm

And regarding other union automakers, Ford is now #10, just under Lexus. Chrysler is the worst. Porsche is union produced and is #2 in the rankings and Volvo is #8. And of course Toyota, Nissan, and Honda all have union workers, including in their home countries. Oh, you didn't know that? http://www.marketwatch.com/story/honda-labor-union-wont-demand-wage-hike-report-2010-02-01

So basically your impression of GM is outdated, and your impression of the role of unions on quality is just not accurate.