4/21/09: Chrysler Choose Independence Over Govt Funding…
Posted by the912project on April 21, 2009 · 246 Comments
… Interesting.
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246 Responses to “4/21/09: Chrysler Choose Independence Over Govt Funding…”The Restoring Honor Rally August 28, 2010
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Okay….I guess I have to cut and paste….you said….If a company is bankrupt, there is no money, not even for contracted employees. I pointed out that was wrong…Then you posted this…Yes it is true…That's what I was referring to. Condescension is so unbecoming…really…I know what kind of law he practices…I figured it went without saying…..apparently I was wrong…lol….
I am not following the you whatsoever. And I am not trying to be haughty or rude or condescending. I am simply sharing my perspective and my experiences. I simply don't know what you are trying to say in your post(s) and what you disagree with that I said— I guess it has to do with if a company has any assets left over after a chapter 7 liquidation? By assets, I an talking aboutliquid-able—-cash, money held in bonds, trusts, stock options, things that can be 'cashed in.' I have only been incorporated once, but I do know here in this state, you can't just walk away from your creditors with funds available. The Board must decide whether it is even worth continuing operations or not.
I was serious about asking about the railroads. I am the daughter of four generations who served in the rail lines hauling steel. My parents were not allowed to contribute to social security, only RRP–they are nearing 80 and scared to death about their future because they get so little information. I am not sure, but I don't think they exactly got a fair shake, either, but it was a take it leave it proposition. The government took over operations and we have our current hybrid system. I guess the pensions were taken by the government because of the decades of hanky panky with employee's pension funds. I am curious what your relative has to say…… please let me know.
I'll be more than happy to ask his take on the subject when I talk to him. I'll certainly let you know…
While I congratulate you on your degrees….I have to let you in on a little secret. My brother in law is an attorney who handles corporate bankruptcies. He disagrees with you too…A company isn't completely broke when they file. To even gather that you would have had to see the company's books. Which I'm sure you didn't. So, I'll have to take his word over yours since this is his forte…..Sorry, I should have told you that before….
I don't think I said that, and if I did, I didn't mean it that way. Of course they still have ASSETS, LIABILITIES and some holdings when a Chapter 7 is filed. But to satisfy creditors, they must liquidate what the court orders and that is always up to the court. But I have known a few steel companies that went bankrupt and ceased all operation and their businesses closed and nothing was left at all. I will have to look them up to give you the list of names. But I an talking about US Steel and BEthlehem in particular, both had to go through contortions to stay open. The bottom line I am trying to express is that a pension is not ever truly yours and its only value is in those who want to honor it. No contract is any good once it is violated, not as written. That goes whether it was a contact between employers and employees or between private parties. Nothing is forever and nothing is written in stone. No investment is ever that way–nothing! there are some investments and plans/contracts more enforceable than others, but even our government's promises don't mean a thing in the long run. I am not trying to one up an attorney, and I am certainly not trying to make vague points, but honestly, I don't know what you are driving at. Perhaps you can re-clarify. Sorry for not paying good attention. Ps. Ask your brother in law (the corporate attorney) about how our government took controlling interest and management of the Railroad Pensions in the 60's and how our government became the 'owner' of AMTRAK, etc. Perhaps that most clearly exemplifies my point.
Government motors GM has decided to close most of its plants for 9 weeks during the summer. What will happen? They are going to close down and leave the country for good. They sell more cars in China than in the USA. Why? Because our government and the unions have created a hostile business environment for any companies trying to manufacture. So we are screwed. So union employees. your union boss really did a great job for you.
Smart move, as with Obama in control of the big three American auto makers, I believe that most Americans when choosing a new car would pick foreign, like Toyota or Honda. Obama does control GM, so it will be interesting to see many people buy a brand new Obamamobile. It will be like a Russian automobile, always breaking down, but like Obama did with the AIG salaries, he will take away the warrenty telling you to fix it yourself. At least with Toyota and Honda, they believe in honoring contracts, Obama does not.
I just need to vent a bit. I read what Geitner said about the economic crisis stating that the global crisis is partly the US's fault. I am so sick of the US getting blamed for everything. Am I the only one here who thinks we can do much better than what's going on right now? We have a bunch of stooges running this country, they can't make a decision and they are weak.
Then last week I read about Mc Cain's wife and daughter siding with his former Campaign Manager that Republicans need to be inclusive of gay marraige and civil unions. I don't want that. That's not Conservatism to me. Sorry just needed to get this off my chest.
Where is the leadership in DC? What is happening?
Thanks. I knew there were protests but I didn't know it was Acorn. I learn somthing new everyday!
I agree. He either knew too much and Bruno or Rocco took him out or he was a standup guy with a conscience and couldn't live with himself.
It's simple stupid. Too many strings attached and the bailouts are not good for sales. Companies that can't make a profit should fail!
Chief Financial officer for Freddie Mac found dead.
http://www.foxnews.com/politics/2009/04/22/freddi...
Sounds like somebody either had a guilty conscience or he had knowledge that somebody did not want out.
Yes, I fond that to be a very interesting news story that wasn't well publicised. I agree, either a guilty conscience or a head full of stuff that needed to be "silenced".
This is a standard Mafia tactic.
For example The business owner down the street aka (Chrysler) starts a booming business and it is noticed by the local mafia branch Aka (US Government.) and now they want a piece af the action. They start sending goons in to scare away customers (Aka driveby media, Moveon.org, Daily Kos,etc) His business slows and the businessman needs a loan. The local Mafia gives him the loan (aka Bailout) and leaves his customers alone, His business starts producing again and he wants to pay the Local Mafia Branch back. They won't take his money and they send in Bruno and Rocco, aka Geithner and company. to provide the leverage to protect their interests. The Mafia just beats up the business man or trashes his business, The US government threatens the business man with continual audits which he cant afford.
Didn't our current administration hail from Chicago aka MOB land?? Hmmm!
Give Obama A Grade. MSNBC POLL
http://www.msnbc.msn.com/id/29493093/
Wow the Fs seem to be in the lead and MSNBC actually reported this! Methinks that someone at MSNBC is in for a sound thrashing!
Amen!
Since Soros bought and paid for the Obot nomination and run for the president, I would say he owns the Robot and that Robot answers to Soros, not the American people. I found it interesting that Robert Gibbs made a comment yesterday that "they don't chat with Soros organization on a daily basis! HOW TELLING WAS THAT!
The problem our oil companies find it almost impossible to drill here in our country! We have the whackos who claim it will endanger wildlife, or maybe it's one stupid little fish! When they have the rights to drill on land that is privately owned, in come the "tree hugger" types and protest and prevent the oil companies from getting the permits to drill! Thanks to the NATURALISTS oil companies are unable to drill on all the land they have the rites to but are prevented because of no permits THANKS TO THE NUTCASES, USUALLY IN THE LIBERAL PARTY!
Our goverment cannot even deal with day to day issues,,,and anyone who thinks they know how to run a company,yet never held a real job,or dealt with money,,other than what was handed to them for doing nothing,,,,its like sending a child to play in the mall with $50,,,most americans have thier children work for what they earn,,,,the goverment should stay out of running private compaines,,,who ever authorized that,,,its not in the Cons,,,,or was it another back room law passed,,,,the goverment should stay out of private firms,,,PERIOD,,,
I agree
UAW caused the problem!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The UAW has aggravated this issue since it started with Jimmy Carter. A high school dropout making $40.00 per hour punching rivets is absurd. This is probably why Ford has a hugh assembly plant in Brazil and they don't need a bailout.
LULZ!
Can you just picture Barney Frank's flubby butt squeezed in racing overalls? Bet it would look like they were making sausage. Is there a helmet big enough for Ted Kennedy's oversized noggin? The mind boggles with the possibilities
I hope that Chrysler can separate themselves from government micromanagement. They can look at the GM experience and say "I want none of that" but they took money from the government and getting the "fangs out of their neck" may not be so easy. If they resist the "green" car mandate watch out for the government to "help" even if they don't want any.
It is a good start. Now they need to give back the 1.5 Billion. and maybe get rid of the unions