He might be right. The fear in a bankruptcy is that people stop buying cars and revenue tanks. This is happening right now anyway but an additional revenue fall could be worth since the company would became viable, its net present value would soar, yet politicians think of the next year or so to they are worried
Every time I think the moron meter is pegged along comes another one raise the level of stupidity to a new high. Obviously Darwinism does not come in play here at ET. Our only hope is morons like yourself die an early death.
You sound like me responding to one of the Idiot Troll's posts : ) Having said that, why not tell us why you disagree? The fact that other related jobs will be lost is not even close to being a reason that GM should be bailed out. I'm sure that's not your contention, I'm just pre-empting that argument, because it's absurd. There was a show up here in Canada which featured three generations of GM workers in the same family. Youngest son comes on and says 'The shop steward hired me out of high school and told me that I would have a secure job, I could work for 30 years and retire and go fishing. Now what am I supposed to do?' I thought 'wtf?? An unskilled labourer thinks he should have the right to work from age 18 to 48 and then retire with full pension and health benefits and go fishing??'
Sure, but you commit to slightly more in that situation than you do on the line at GM. I have no problem with soldiers getting that deal.
I'm amazed the US government didn't even "think for a second" (quoting Paulson) to stabilize Lehman and lead it into a controlled run-off but they're discussing how they can keep GM on life support.
(Scratching head while in deep thought.....) Hmmm...Let's see here now..... A. Let GM go bankrupt now and we all get on with getting over it, starting now. B. Let GM go bankrupt later and we all get on with getting over it, later. C. Just put all of GM on the government dole forever, that way we don't have to deal with getting over it. ??? Believe I'm going with "A".
GM probably can't be saved without downsizing by at least HALF. By the time the credit bubble has been fully deflated, the once "17 million annual new car sales" will likely be less than 10 Million. Keeping GM on taxpayer life support is likely a waste of money.
Yeah; the chance is much higher you will be MIA or KIA in military than GM, therefore, government still has the better end of deal, last time i checked, the full benefits of military only about 400k, and a lot of veteran went broke.