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In the interest of title brevity, own=be the major shareholder for those who care about these things.
Anyway:
Quote:
Government Might Become Majority GM Shareholder
General Motors has offered its final plan to reorganize in an effort to avoid bankruptcy. The car company has proposed slashing bond debt, cutting over 21,000 more US jobs, and emerging as a nationalized automaker under majority control by the US government. The proposed restructuring would also shut down GM’s Pontiac operations. As part of the restructuring, GM is asking the Treasury Department for an additional $11.6 billion in loans, in addition to the $15.4 billion it has already received.
GM CEO Fritz Henderson: “I think General Motors will remain a global corporation, without a doubt, but I think there’s no question in my mind also that the nature of those global relationships will change."
Henderson said GM would probably declare bankruptcy if the bondholders reject the terms. By the time it is finished, GM expects to have only 38,000 union workers and thirty-four factories left in the United States, compared with nearly 400,000 workers in more than 150 plants at its peak employment in 1970.
Quote:
Report: UAW to Own 55% of Chrysler under Restructuring Deal
There are major developments in the proposed restructuring of Chrysler. The car company and labor leaders have agreed to a tentative deal where the United Auto Workers union’s retiree healthcare fund would become the majority shareholder of Chrysler in exchange for cutting in half what the automaker owes the healthcare trust.
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edit...2012 BABY!
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If the public is paying for it, they should own it.
Like we'll have a say The reality is, our govt does not equal the public and really hasn't for quite sometime. Regardless of that, this entire process of govt take-over of business is...interesting.
Like we'll have a say The reality is, our govt does not equal the public and really hasn't for quite sometime. Regardless of that, this entire process of govt take-over of business is...interesting.
That's because people think they should prefer a "small government" that bows down to private industry instead of one they are actively involved in. If people are aware and engaged, the government has to do what they say.
If people are aware and engaged, the government has to do what they say.
So they say. Problem is, people being aware and engaged isn't enough because it doesn't lead to unity, it simply creates controversy and keeps people divided on almost every issue. That's democracy and it should work. It's all the false flags that keep people busy nit-picking about all the wrong things, while laws get passed in the dead of night and before you know it, you're owned.
If the public is paying for it, they should own it.
the public should not be in the auto business
the public should have a better choice of what businesses to invest in
they wouldn't allow a change to SS to allow for 401K type of investing, but instead are going to force GM down our throats.......such is the economic nonsense of the democratic party........don't flush it down this toilet, flush it down that toilet in the name of saving union labor
the public should have a better choice of what businesses to invest in
they wouldn't allow a change to SS to allow for 401K type of investing, but instead are going to force GM down our throats.......such is the economic nonsense of the democratic party........don't flush it down this toilet, flush it down that toilet in the name of saving union labor
bullcrap
Well you can put me in the camp that wanted to allow GM to fail. But if we are forced to pay for it, we own it.
the public should have a better choice of what businesses to invest in
they wouldn't allow a change to SS to allow for 401K type of investing, but instead are going to force GM down our throats.......such is the economic nonsense of the democratic party........don't flush it down this toilet, flush it down that toilet in the name of saving union labor
bullcrap
My God, the epic ignorance rolled into this one is beyond belief.
Want "401-K type of investing" for social security accounts? Really??? That's what you really want?
You want a large proportion of any given age cohort of retirees to make market bets instead of having a defined benefit based on moderate cost of living assumptions? You want the last 10 years' worth of retirees to have made WORSE bets than the current system would provide?
Why the hell would you want that?
Guess what, bright boy: workers would LOVE a defined benefit pension. They're considered "gold plating" by the majority who struggle by with 401(K) plans. Guess what else? The workforce is not composed of financial analysts and traders. The house wins in that game.
Your playbook is from 2004, kid. Markets crash. Your bright idea would have millions on park benches by this time. Thank God that idea never made prime time in a big way.
SS is a baseline and not a very realistic one, even for a modest goal like survival. But it's a damn sight better than a big goose egg.
Play dice with your own money and leave our goddam senior citizens alone.
PFnV
Last edited by PatsFanInVa; 04-28-2009 at 05:51 PM..
My God, the epic ignorance rolled into this one is beyond belief.
Want "401-K type of investing" for social security accounts? Really??? That's what you really want?
You want a large proportion of any given age cohort of retirees to make market bets instead of having a defined benefit based on moderate cost of living assumptions? You want the last 10 years' worth of retirees to have made WORSE bets than the current system would provide?
Why the hell would you want that?
Guess what, bright boy: workers would LOVE a defined benefit pension. They're considered "gold plating" by the majority who struggle by with 401(K) plans. Guess what else? The workforce is not composed of financial analysts and traders. The house wins in that game.
Your playbook is from 2004, kid. Markets crash. Your bright idea would have millions on park benches by this time. Thank God that idea never made prime time in a big way.
SS is a baseline and not a very realistic one, even for a modest goal like survival.
Play dice with your own money and leave our goddam senior citizens alone.
That would be a nice diatribe if 401Ks had to be in the stock market. By law every 401K has a cash (money market) option. The only negative to 401K style over SS is too many people are too stupid to manage their money correctly. Appropriately managed over a lifetime, a 401K style will come out very nicely.
Govt May Own GM
The reality is, our govt does not equal the public and really hasn't for quite sometime. Regardless of that, this entire process of govt take-over of business is...interesting.
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