Will the Big Three give U.S. taxpayers a Christmas present and file Chapter 11?
December 23rd, 2009 | by admin |
Sergeant Vince Carter, USMC asked:
It appears the tide is turning on the Big Three grovelers and their minions in the UAW. 80 plus percent of people surveyed said they would still consider a car from a company in Chapter 11, many, many smart economists have come forth and said Chapter 11 is a viable option and in fact the best option for the bloated Big Three.
It appears the tide is turning on the Big Three grovelers and their minions in the UAW. 80 plus percent of people surveyed said they would still consider a car from a company in Chapter 11, many, many smart economists have come forth and said Chapter 11 is a viable option and in fact the best option for the bloated Big Three.
So, will those grovelers do the right thing, quit begging and file Chapter 11?
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Tags: Chapter 11, Christmas, Economists
By Forget War Buy More on Dec 27, 2009
1 in 10 jobs are auto related. That’s a lot of people to be unemployed. Can anyone say Hoover?
By Holy Cow on Dec 27, 2009
Wouldn’t that be great? It would cost taxpayers billions and dump their retirees on to the public guarantee organization which (guess who?) taxpayers would then get to pick up the tab.
And just think what a gift 10 to 20% unemployment would do for America!
By Sassy One on Dec 29, 2009
If you think that we the taxpayers won’t have to pay anything because they go bankrupt is childish. We are going to lose either way. This will not just affect the Big 3.
By Bub on Jan 2, 2010
I certainly hope not. The loan to help the Big 3 needs to be made sooner than later to save all the good paying American autoworker jobs and associated taxes, etc.
By Dan G on Jan 5, 2010
No, instead they’ll just offer us a “great deal” on a new car, you’ll know it’s a great deal because the salesman will tell you that he was going to buy that very car for his daughter.
By 12KJ on Jan 6, 2010
why can’t some people not understand that if we bail them out in this economy that we are just putting ourselveses in a deeper hole.if we give them money to operate, do you think it will last long enough to survive the recession? i guess not, then they will come for more and more until the economy is stable, by then how many billions have they use just to keep their company and employees.remember evey minute that they are open it cost money!if we keep them open would people buy cars?even if they have a car that will run on water right now, do you think people will buy it? no , because people don’t have money to buy them!
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By meerkat uno on Jan 7, 2010
GM and Chrysler may have to but Ford won’t for a bit. I don’t think it is the best option for SO many reasons. They need the loans (again mostly GM and Chrysler) and need to be given ONE more chance before bankruptcy. The government is TRILLIONS of dollars in debt due to mismanagement so what’s a few more billion already approved going to hurt?
By mjmayer188 on Jan 8, 2010
It could solve some major problems for the car companies, but under bankruptcy laws, the 4,000 suppliers that are owed money will not get paid.
We might save the big three, but lose half of those 4,000 small and medium companies that work for them. They are the real reason we need to find a workable bail out for the car companies.