Article

2009-09-10 Economy

U.S. 'Unlikely' to Recoup Auto Outlay, Panel Finds

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Posted by Fred 2009-09-10 00:00|| || Front Page|| [1 views ] Top

#1 Oi vey, oi vey, oi vey.

Posted by g(r)omgoru 2009-09-10 02:23|| 2009-09-10 02:23|| Front Page Top

#2 After receiving $50B of our money GM is only "a company with less debt"? Why is there any debt?

We will never see that money again.

Posted by Scott R 2009-09-10 02:29|| 2009-09-10 02:29|| Front Page Top

#3 Exactly as planned. After all it was only a payout to the UAW - the new owners of Chrysler.

Posted by CrazyFool 2009-09-10 08:24|| 2009-09-10 08:24|| Front Page Top

#4 I sent a short congratulatory e-mail to the Oversight panel's chairwoman, Elizabeth Warren when she was first apointed. She responded with a warm thank you. As I recall she'd been in the job for a couple of weeks and indicted she was still trying to find funding for computers, telephones, and administrative help.

Ms. Warren's report concerning the 'unlikely' recoup should come as no surprise to anyone. I look for her to be...stepping down soon. Barry does not like bad news.

Posted by Besoeker 2009-09-10 08:28|| 2009-09-10 08:28|| Front Page Top

#5 I seem to recall that GM's market capitalization was around $4 billion just prior to being taken over by Uncle Sam. That means someone could have bought the whole company, declared bankruptcy and gone through the whole process for only $4 B. Why did Uncle have to spend $50 B?

Posted by Spot">Spot 2009-09-10 09:40|| 2009-09-10 09:40|| Front Page Top

#6 The US could recoup all the money and more if the auto companies (especially GM) were allowed to renegotiate with the unions and eliminate the feather-bedding. They were (still are?) paying laid off workers years after they were laid off and paying them benefits!

GM's health and pension bennies were the best I have ever experienced. I have often said that GM is a health and pension management company that makes cars on the side.

Posted by Frozen Al 2009-09-10 11:17|| 2009-09-10 11:17|| Front Page Top

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