Congressional Hearings!

[BigFish]

So I have been watching some of the Congressional Hearings with the automakers.......and apparently only GM has a desperate need.......as quoted Ford and Chrysler really are only on board for the unsecured 2.5% interest loan from the government??? Now to keep this to the point........why doesn't congress tell Ford and Chrysler to go home.....you can't have any.....and let GM file for bankruptcy protection to restructure itself instead of going billions of dollars in dept. OR.......just help out GM.....as they are really the only company that needs it??!!!

[Slipknot]

because that would make too much sense

[PaulS]

I saw that the 1 in 10 jobs in the US are dependant on the auto industry claim by the auto makers included taxi cab drivers as if the big 3 went under the cab drivers couldn't use toyota or Honda cars.

[justplugit]

Yup, lot of degrees here with no common sense to be seen anywhere.

Ya got Dodd, while head of the Senate Banking Comm., being part of the financial debacle running the show. Here is a guy who along with Frank and Cox telling us last spring our financials are sound , who got a sweetheart loan from Countrywide Bank saving him something like $75,000 and we can trust him.

It's like having the fox guarding the chicken coop.

Meantime ya got the auto industry asking for $24 billion with Moody's saying it would end up being more like $75-$125 billion before it's over.

While it kills me to see the hard working emploees lose their jobs in a bankruptcy, the top UAW leaders have killed the goose that laid the golden egg along with top management of these companies being completly inept.

Quandry, as biting the bullet now with bankruptcy and some kind of a merger would be best, imho, but it's going to cost big time for unemployment benefits too.

[BigFish]

As mentioned Dave...even WITH the bailout...GM plans on laying off 30,000 jobs to restructure! Thats WITH the bailout!

[Raven]

so far i haven't heard anything mentioned about what the car companies are going to do for the American People who are in actuality lending them the money.

[Nebe]

What no one is openly coming out and saying is that the car Co's WANT to go bakrupt so that they can give the heave ho to high Union wages and bennies..

It will happen.. watch.

[justplugit]

Originally Posted by Raven

so far i haven't heard anything mentioned about what the car companies are going to do for the American People who are in actuality lending them the money.

There is no plan on what we can expect from a bailout, what the stipulations are, or how long before it's paid back, if ever.

Just postponing the inevitable. Imho, throwing good money after bad.

Like BF said, even with a bailout 30,000 more on the unemployment line.

[Joe]

After we lose the 2 million or so jobs associated with the auto industry, then we can get serious about getting manufacturing jobs back into our economy.

[Raven]

Basically
In my View

we are rapidly approaching future shock with Materials
that are almost available...
to completely replace steel...

this will revolutionize the Auto industry
the aviation industry
the electronics industry
the military
the space agency
home construction
the power infrastructure

everything....

so it doesn't matter if we are
in an economic downturn of gigantic proportions

this was going to happen eventually anyway

when you start to think about replacing everything
and i mean everything with materials that are
technically FAR superior than anything we've ever known...
there will be no such thing as a lack of JOBS



http://roswellproof.homestead.com/de...mory_foil.html

[Fishpart]

Originally Posted by Nebe

What no one is openly coming out and saying is that the car Co's WANT to go bakrupt so that they can give the heave ho to high Union wages and bennies..

It will happen.. watch.

I agree, but Congress is PAID FOR by the Unions so....Congress will never allow it to happen even though it should be.

[Joe]

Disruptive technologies - like the telephone, the automobile, the internet - reshape economies in radical ways.

There are a lot of smart people working on developing energy solutions - the prize is enormous for anyone who can accomplish this on a large scale. The most likely origin for solving a resource issue - whether it be building materials, energy, food production - anything, is here. Ending the transfer of wealth to oil producing nations would solve a host of issues.

I think the Green Movement is very real in that it is providing an impetus for innovation. Its not commercially viable yet and as such it has been pooh-poohed by the financial establishment. We should consider the source though, as the financial establishment has missed a few things lately.

People tend not to respect disruptive technologies or social movments when they are in flux. Sometimes people don't believe in change even when it is upon them. It does not make them less wrong. When President Rutherford B Hayes saw the first public demonstration of the telephone he replied: "It's an amazing invention but who would ever want to use one?

[Back Beach]

Originally Posted by Nebe

What no one is openly coming out and saying is that the car Co's WANT to go bakrupt so that they can give the heave ho to high Union wages and bennies..

It will happen.. watch.

Its the only way out, IMO.

[rwilhelm]

If they claim bankruptcy the union contracts will be void?

[BigFish]

I do not believe that to be the case. Though in order for them to continue to keep their jobs, and if they want this bailout to happen....the UAW is going to have to make some concessions be they temporary or permanent....and they will have to go to a vote of the UAW....that could take too much time! Did you know that 3600 workers were without work this year and that they still receive 95% of their pay??? They sit in a big union hall all day, play cards and take naps.......this was on the Today show yesterday!!!

[justplugit]

Not to worry, the governent added 7,000 new jobs in November.

Just 7,000 more slaries, benefits and retirement plans for our citizens to pay for.

25 years and out, then find another government job on a different state, county or local level and double dip retirement.

Not bad, not bad at all.