Obama extends short federal lifeline to GM, Chrysler - CNN.com »
Posted By engineer 8 months, 2 weeks ago in Business & Finance(CNN) -- President Obama announced Monday that struggling automotive giants General Motors and Chrysler will be given a " limited" period of time to " restructure in a way that would justify an investment of additional taxpayer dollars."
Read Full Story at cnn.com »
310 Views Share Story 63 Comments Report
Submitted By:
engineer
Hi
My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
Who Also Submitted: All »
RSS Join the Discussion
+ Add CommentComments So Far: 63 (view all)
-
40%
tchef8 months, 1 week ago
This comment is below the standard viewing threshold View It »
I just love this, no matter what the President does, it's just not good enough for the Republicans who have ruined this country in the first place. If he gives them the money, that's bailing out and industry that "doesn't deserve it". If he doesn't give them money that's "abandoning US manufacturing when foreign manufacturers have and advantage because they are government supported". They complain when the money has no strings attached, and when it does then there are too many strings. Where are their solutions? We have seen what 8 years of Republican rule have accomplished, if they don't have anything worthwhile to contribute, they should just sit down and shut up!
Reply-
75%
b-happy8 months, 1 week ago
This comment is below the standard viewing threshold View It »
Well this is the first time in history that a president has tried to run an industry. Obama, a community organizer who has never had to fill out a balance sheet, is going to fire CEO's and force partnerships between auto manufacturers all the while telling the public that GM will go into bankruptcy. No wonder the GM stock tanked even more yesterday.
Reply
I could never imagine myself asking someone like Obama with no qualifications what so ever, to come run my concrete business. But here is he trying to dictate to the auto manufacturers on what decisions they should make. Never in History of the United States has this ever happened.
I said bankruptcy all along and so did most conservatives. And it looks like that will happen after all. Too bad Obama just wasted billions of our tax payer dollars trying to keep these non-viable company's alive. Obama is just continuing the wasteful spending that Bush started. -
80%
Hhussk8 months, 1 week ago
This comment is below the standard viewing threshold View It »
The United States government is not supposed to take over our industry. Our constitution was created to keep the government out of people's lives and to protect us from it.
Reply
President Obama, as of yesterday, is the General Manager of General Motors. He just fired a private citizen, the first President to ever do so. If President Bush had ever directly forced a private citizen into resignation, you would be livid, but since it's a liberal President, you are complacent.
What does President Obama know about the car industry that Wagoner doesn't? Does President Obama have experience in managing a business?
This is an unprecedented action towards nationalization, socialization, and ultimately, the path towards communism.
I will agree with you that President Bush was wrong to give us a stimulus package and a bailout for the auto industry. The solution was to let them file for bankruptcy.
Perhaps you had some reasonable complaints about Bush ...but in your Bush hatred, you lost clear vision and are unable to see the new President, who is destroying the American Dream. -
libsRfunnyComment removed: Hard Banned1 Reply
-
-
75%
vor8 months, 1 week ago
This comment is below the standard viewing threshold View It »
As a Democrat I have to say it is the unions who killed these companies and will keep Ford at a competitive disadvantage going forward. When these companies were riding high the UAW squeezed every dime out of them they could. With the continuing rise in health care costs these contracts are now unreasonable. Even with a few givebacks you have huge numbers of workers entitled to benefits until death, many of whom took early retirement when things started going bad.
Reply
Bankruptcy is the only viable option. Hopefully some people of real vision are brought in. This could be a true opportunity to show that American ingenuity is still alive and well.-
libsRfunnyComment removed: Hard Banned1 Reply
-
-
100%
simonsez8 months, 1 week ago
This comment is below the standard viewing threshold View It »
Making Wagoner the villain may not have been the best decision as the following NY Times story describes.
Reply
http://www.nytimes.com/2009/03/31/opinion/31holste...-
libsRfunnyComment removed: Hard Banned2 Replies
-
-
80%
4thchance8 months, 1 week ago
This comment is below the standard viewing threshold View It »
Obama is now the NEW CEO of both GM and Chrysler. What ever may go wrong with those two companies at this point, will be no ones fault BUT OBAMA'S!
Reply
Obama is promising that the Government will back both GM and Chrysler on their automobile warrantee's. My daughter has a 2007 Chrysler PT Cruiser that is a LEMON, needs fixed all the time. I gave her the phone number to the White House so she can ask them to connect her to the Federal automobile warrantee department. They told her, there is no such thing...you go Obama, you're doing just great so far, you MORON!-
100%
Hhussk8 months, 1 week ago
This comment is below the standard viewing threshold View It »
On top of the fact that a United States President is now the CEO of a major car-making company, HE will be in charge of the union negotiation settlements.
Reply
When that day comes, it will be Obama vs. the Union, and I promise you concessions will also become "coerced" on the union.
The irony, which you liberals need to see for yourself, comes on the day when President Obama, negotiating for the executives, forces reduced salaries, layoffs and low-quality compensation packages, less benefits for the union employee.
ON THAT DAY, you may finally realize why the government, particularly ours, does not belong in business. -
67%
wtagg8 months, 1 week ago
This comment is below the standard viewing threshold View It »
Who's fault was it that put the companies in the pan-handling line to begin with? I am not sure you can pin that on Obama exclusively.
Reply
The flip side of the coin is that if the companies are saved, it will be 100% Obama's credit, using your yardstick.
-
-
-
67%
wtagg8 months, 1 week ago
This comment is below the standard viewing threshold View It »
That is probably true. Unfortunately, that train left long before Obama became president.
Reply
And Ron Paul was the kook that suggested that companies that fail should fail. Who listened? Sometimes the best solution is to do nothing and allow the natural market forces work to an equilibrium.
-
-
75%
4thchance8 months, 1 week ago
This comment is below the standard viewing threshold View It »
Hmmm...what's the great power hungry Obama going to do if he fails to get both GM and Chrysler back on the road to recovery...will the great Obama FIRE HIMSELF for “failure of leadership” and being a dumb a$$ and unable to run the companies properly? Interesting thought isn't!
Reply -
-
100%
Hhussk8 months, 1 week ago
This comment is below the standard viewing threshold View It »
The single thing I don't understand about liberals at this moment in time is why they believe, after many years of complaining about the government corruption, inefficiency, and waste, that they support this increased expansion and takeover of the financing and business sector.
Reply
Government has yet to prove that they can even run their own entity well. Why would we let them take over health care? Why would we put them in charge of an auto-industry that is already near bankruptcy?
This is incredibly crazy. We are putting the nuts in charge of the nuthouse.-
libsRfunnyComment removed: Hard Banned
-
Neutral
willottica8 months, 1 week ago
-
-
libsRfunnyComment removed: Hard Banned
-
-
100%
EDWARDIII8 months, 1 week ago
This comment is below the standard viewing threshold View It »
So the CEO is gone and the CFO (or whatever old Fritz is) takes over. That's a big change.
Reply
If we are spending the people's money does that mean that Obama or Pullosi (sp?) or Ried or Biden get input into the design of the product? Now that the government has a multi-billion dollar stake in GM is the government now in competition with Ford? What arbitrary standards might the government create in the name of safety or whatever to tilt the market in favor of GM? If the government takes over one industry, why not many and what will the burocracy that runs them look like?
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.