Bush considering 'orderly' auto bankruptcy - Page 2 - Mercedes-Benz Forum

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post #11 of 74 (permalink) Old 12-18-2008, 04:39 PM
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Sometimes, the man does get it right.

Quote:
Disorderly auto failure could be destabilizing: Bush | U.S. | Reuters
"I am very concerned about a shock to the system," Bush told C-SPAN as his administration considered options for providing relief to the troubled U.S. auto industry.

Asked whether he was seeking concessions from the automakers' unions, Bush said, "Yes, you see, there's two principles that's driving me on this. One is, a disorderly bankruptcy could be very destabilizing for what is now a fragile financial market."

"I'm also concerned about putting good money after bad," he added. "And therefore, it's going to be very important that whatever we do, that there be a plan that the autos -- that would be management as well as dealers as well as labor -- show how they could be viable for the future."
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post #12 of 74 (permalink) Old 12-18-2008, 06:04 PM
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But, but, but..how come $14B is such a big deal while $700B and $2T are not??

I don't recall Bush talking about $700B or $2T bailouts.

Did I miss something completely?


"Orderly bankrupcy" people, please explain.

Oh, guess I get it. As long as "bankrupcy" includes banks.
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post #13 of 74 (permalink) Old 12-18-2008, 08:51 PM
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But, but, but..how come $14B is such a big deal while $700B and $2T are not??

I don't recall Bush talking about $700B or $2T bailouts.

Did I miss something completely?


.
Yeah, you missed the Republican leadership that wants to bust the Union and this is the best shot they have had in decades.

Nevermind that the facts/math don't add up or the standards are blatantly skewed, this obsession will continue.

I would have thought they grasped the pendulum lesson over the past two years but apparently not. A bunch of those UAW workers were very stalwart Republicans and an "in the pocket" constituency.

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post #14 of 74 (permalink) Old 12-18-2008, 08:55 PM
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My, my , no one is in a generous mood today.
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post #15 of 74 (permalink) Old 12-18-2008, 09:00 PM
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My, my , no one is in a generous mood today.
???

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post #16 of 74 (permalink) Old 12-18-2008, 09:01 PM
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???
Bush got it right, didn't he ?
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post #17 of 74 (permalink) Old 12-18-2008, 09:09 PM
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Bush got it right, didn't he ?
I believe that he is in the process of getting it right, but I fear that he won't go far enough.

In exchange for bailout out money to save UAW jobs, he should insist that both unions (including SEIU) and Dems foreswear any attempt to pass a "card-check" system. What worries me is if the UAW has to take a hit on wages and benefits, that they will come back around to organize the workers at BMW, Toyota, and KIA or Hyundai, whichever it is.

Our inability or unwillingness to stand up to unions has killed airlines, steel, auto. What is next?

Charter member of the Vast Rightwing Conspiracy and proud of it.

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post #18 of 74 (permalink) Old 12-18-2008, 09:12 PM
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Bush got it right, didn't he ?
On some levels yes, others, not really.

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post #19 of 74 (permalink) Old 12-18-2008, 09:16 PM
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I believe that he is in the process of getting it right, but I fear that he won't go far enough.

In exchange for bailout out money to save UAW jobs, he should insist that both unions (including SEIU) and Dems foreswear any attempt to pass a "card-check" system. What worries me is if the UAW has to take a hit on wages and benefits, that they will come back around to organize the workers at BMW, Toyota, and KIA or Hyundai, whichever it is.

Our inability or unwillingness to stand up to unions has killed airlines, steel, auto. What is next?
The total WAGE issue, including legacy costs are just under 10% of Big 3 costs.

And only part of the factories are in the US and under the contracts of the UAW which means UAW has power over less than 6% of ALL the total costs of the Big 3.

Add to that the Toyota Manufacturing General Manager states that his employees make equal or more than UAW workers and all you have as a variable is legacy costs which are 26% of about 6% of total costs.

How exactly does busting the union help this process along? The math doesn't add up.

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post #20 of 74 (permalink) Old 12-18-2008, 09:16 PM
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On some levels yes, others, not really.
All three parties (management, labor, dealers) need to give some to make the companies viable entities. Notice he did not mention shareholders.
It's a tough problem to fix, kudos should be given if in fact Bush pulls this rescue off.

Perhaps, he has a few pardons to give in the back pocket and threats to pose in exchange for a deal.
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