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GM...going to do it again.

Mike

Well-known member
Bailing out GM = UNION VOTES!!!!!!!!


A report by the Heritage Foundation paints a devastating picture of how politicized the bailout of GM truly was. Heritage notes that even if one accepts president Obama’s premise that the bailout out GM was necessary to prevent massive job losses, “the government could have executed the bailout with no net cost to taxpayers. It could have–had the Administration required the United Auto Workers (UAW) to accept standard bankruptcy concessions instead of granting the union preferential treatment. The extra UAW subsidies cost $26.5 billion–more than the entire foreign aid budget in 2011. The Administration did not need to lose money to keep GM and Chrysler operating. The Detroit auto bailout was, in fact, a UAW bailout.” (Note that the subsidies are higher than the total loss currently attributed to the auto-maker.)

The preferential treatment had two primary components. Despite the fact that the UAW had the same legal status as other unsecured creditors, they recovered a much greater proportion of the debts GM and Chrysler owed the union. And even though bankruptcy typically brings uncompetitive wages down to market levels, UAW members took no pay cuts.

In short, the UAW an Obama administration picked both the “winner” in the deal–the UAW–and the “loser,” aka the American taxpayer.
 

gearhead

Well-known member
I have told the Chevy dealer here that they can take their outsourced China parts and shove them up their ass. To their faces I will add. government motors sucks.
 
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