Russian roulette

[Lanya]

[.......]
Morgan Johnson, president of the United Auto Workers local representing General Motors workers in Shreveport, said Friday that Sen. David Vitter's role in blocking an auto bailout indicates "he's chosen to play Russian roulette" with Louisiana jobs and the national economy.

"I don't know what Sen. Vitter has against GM or the United Auto Workers or the entire domestic auto industry; whatever it is, whatever he thinks we've done, it's time for him to forgive us, just like Sen. Vitter has asked the citizens of Louisiana to forgive him, " said Johnson, president of Local 2166. Otherwise, Johnson said of Vitter, it would appear, "He'd rather pay a prostitute than pay auto workers."
[...............]
http://www.nola.com/news/index.ssf/2008/12/vitter_faulted_for_derailing_a.html

[hnumpah]

I saw some UAW hotshot on the news the other day, crying about someone 'playing politics' with the bailout. Seems they think the gummint owes them a bailout. Their employers screwed up and now they're in danger of going tits up - why should everyone else be made to pay to bail them out? My wife and I have damned near had to file bankruptcy twice, and come back on our own. No one bailed us out. I resent being told my tax dollars should have to go to bail anyone else out.

[Lanya]

I don't like money in numbers I can't really comprehend going into bailing people out, but I think I would like it even less if those companies failed. They support an awful lot of businesses across the country and even the world. If it fails it's really major.   I just read that Sweden is bailing out its automakers. China and Japan subsidize their automakers pretty heavily. 

The other reason I want them to get the money is so we will have US auto, tank, etc. manufacturing capability in case of a war.  I really don't want the only factories to be Honda, NIssan, etc.   

[sirs]

The problem is Lanya, these companies will come back, these employees will be rehired, simply done so at a contractural level that can actually make them competative with other auto makers.  The idea that there will be this 1 massive bubble of nothing, and that they go away never to be seen again, is a tad disengenuous

Giving them H's tax dollars, my tax dollars, and your tax dollars, in NO WAY guarantees their ability to recover.  Plane pointed this out before, people have to BUY their product.  And they are not going to, simply because they now have more of our money, or that they'll make more cars that the left & Democrats wants made.  They have to make more cars that everyone might want, ones that are equal, if not better in quality to that of Honda or Nissan, yet cheaper.  Currently, that's not happening, and is why they are failing

[Xavier_Onassis]

 I just read that Sweden is bailing out its automakers.

Sweden has automakers?

Saab belongs to GM.
Volvo belongs to Ford.

Both are manufactured in Sweden, though. For a short time, Saab was made by Subaru, I think.

[sirs]

I just read that Sweden is bailing out its automakers.

Good for them.  Care to provide a link for that reading?

[Xavier_Onassis]

Lanya mentioned this, not me.

I was just pointing out that neither Saab nor Volvo are owned by Swedes anymore.

I imagine that you could satisfy your curiosity by simply googling Sweden and bailout.

[Lanya]

http://www.freep.com/article/20081211/BUSINESS01/81211043/0/OPINION01

Sweden gives Volvo, Saab billions in aid

STAFF AND WIRE REPORTS • December 11, 2008

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STOCKHOLM, Sweden -- The Swedish government has decided to provide its ailing auto industry with a $3.4-billion support package.
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The plan offers credit guarantees, emergency loans and research funds to boost companies in the "Swedish automotive cluster," the government said.

Swedish automakers Volvo and Saab, which are owned by Ford Motor Co. and General Motors Corp., respectively, employ about 20,000 people in Sweden.

The two companies have been appealing to the government for support because of the financial woes of their U.S. owners, who are also seeking as much as $34 billion in loans from Congress.

The Swedish plan, which requires approval from lawmakers, was announced just hours after the U.S. House of Representatives approved a bill to get $14 billion in emergency loans to the struggling U.S. auto industry.

Democrats and the White House hoped the bill could be enacted by week's end, but it is jeopardized by opposition from Republicans in the Senate.

The Swedish government said its support package was needed to safeguard "the continued success of the Swedish automotive industry," even if the industry's crisis deepens. It also called for quicker development of green technology.

The plan, which offers a total of 28 billion Swedish kroner, includes a maximum of 20 billion kronor in credit guarantees to automotive companies, and up to 5 billion kronor in rescue loans to bail out companies in crisis. The government said it would also earmark 3 billion kronor for research and development in the automotive sector.

"The measures will be taken with the clear assumption that the state does not intend to acquire any of the existing automotive manufacturers," the government said in a statement. "They are also based on continued openness in relation to the ongoing process in the U.S. automotive industry and conclusions drawn by current or any new owners."

The government said the plan was in line with the proposals in the European Commission's economic recovery plan.

[BT]

I think the Union should trade some perks for stock options. That way both parties have a vested interest in the long tern profitability of the company.

[Christians4LessGvt]

 

Morgan Johnson, president of the United Auto Workers local representing General Motors workers in Shreveport, said Friday that THE UNIONS role in blocking an auto bailout indicates "THE UNIONS chose to play Russian roulette" with Louisiana jobs and the national economy.

"I don't know what THE UNIONS have against GM or the United Auto Workers or the entire domestic auto industry; whatever it is, whatever THE UNIONS think we've done, it's time for THE UNIONS to forgive us, just like THE UNIONS have SCREWED the US auto industry, " said Johnson, president of Local 2166. Otherwise, Johnson said of THE UNIONS, it would appear, "THE UNIONS would rather see the entire ship sink than agree to benefit cuts"

 

[Xavier_Onassis]

Too bad you have yet to earn those union wages C4.
You should do something about that envy problem. Really.

[hnumpah]

"Sweden gives Volvo, Saab billions in aid"

So? I'm not Swedish; I don't care how they waste their money. I don't see what that has to do with how I somehow owe some yutz in Detroit a living because his employer has so mismanaged its business that it can't make a profit. I don't see how that explains why I should support some guy who probly made more money in a single year than my wife and I combined, because his union sucked his employer dry, and now all those union dues he paid for the union to assure him work are gone to waste. Not my problem. Mebbe he shoulda been saving for a rainy day, mebbe he should suck it up and learn another trade and get his ass back to work. I don't see why he should come begging to me with is hands out, when I've got  my own problems to worry about, and no one - no one - is even discussing bailing out the old bear. Not that I need it, but back when I did, my options were the same as the automakers and their employees - default and declare bankruptcy, or suck it up and find a way out. I paid my debts. Let them do the same.