GM says bankruptcy excuses it from repairs

http://www.drudgereport.com

That's Government Motors for you!
cuhulin

On 2011-08-20, J R > wrote:
> http://www.drudgereport.com
>
> That's Government Motors for you!
> cuhulin

Drudge rotates links... it's best to put in what he links to.

The story is he

http://www.reuters.com/article/2011/...77I0Z820110819

ooh... it's the impala tire wear problem.

The way the government did the special bankruptacy was to put all the
liabilities on what is known as the 'old GM'. Thus people owed anything
that didn't have government on their side are just SOL.

On Sat, 20 Aug 2011 03:38:14 +0000, Brent wrote:

> On 2011-08-20, J R > wrote:
>> http://www.drudgereport.com
>>
>> That's Government Motors for you!
>> cuhulin
>
> Drudge rotates links... it's best to put in what he links to.
>
> The story is he
>
> http://www.reuters.com/article/2011/...77I0Z820110819
>
> ooh... it's the impala tire wear problem.
>
> The way the government did the special bankruptacy was to put all the
> liabilities on what is known as the 'old GM'. Thus people owed anything
> that didn't have government on their side are just SOL.


The way I see it, if you bought most GM products in the past 35 years, you
were "SOL" anyway...

On Fri, 19 Aug 2011 20:55:35 -0500, J R wrote:

> http://www.drudgereport.com
>
> That's Government Motors for you!
> cuhulin


Still looking to keep the shareholders happy by making sure the customer
is #1, i see...

This is the "New" GM?

Hachiroku > wrote:
>
>Still looking to keep the shareholders happy by making sure the customer
>is #1, i see...
>
>This is the "New" GM?

No, it's the old GM. The new GM is a good sight better, not that that is
a hard thing to be.
--scott
--
"C'est un Nagra. C'est suisse, et tres, tres precis."

Brent > wrote in
:

..
>
> The way the government did the special bankruptacy was to put all the
> liabilities on what is known as the 'old GM'. Thus people owed
> anything that didn't have government on their side are just SOL.
>



Plus the government gave the new GM a perk no other bankrupt has ever
gotten: the old company's considerable tax-losses. Therefore the New GM's
"profits" are largely illusory.

Must be nice to have friends in high places...


--
Tegger

On 08/20/2011 06:36 AM, Tegger wrote:
> > wrote in
> :
>
> .
>>
>> The way the government did the special bankruptacy was to put all the
>> liabilities on what is known as the 'old GM'. Thus people owed
>> anything that didn't have government on their side are just SOL.
>>
>
>
>
> Plus the government gave the new GM a perk no other bankrupt has ever
> gotten: the old company's considerable tax-losses. Therefore the New GM's
> "profits" are largely illusory.

make that "completely illusory". because they are.


>
> Must be nice to have friends in high places...

toyota are thinking the exact same thing. indeed, the only way they got
out of that mess was to invest heavily in, ah, "new friends". d.c. has
become a cesspool of utter corruption.

what a disgraceful disgusting chicagoan shakedown that was - nothing
short of maritime piracy. if i were a foreign company looking to invest
in the u.s., that would give me serious pause. especially as we're
continuing to reward and bail out the financial pirates that are still
intent on sinking our ship as fast as they can.

further reading:
<http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817>


--
nomina rutrum rutrum

On 2011-08-20, jim beam > wrote:

> toyota are thinking the exact same thing. indeed, the only way they got
> out of that mess was to invest heavily in, ah, "new friends". d.c. has
> become a cesspool of utter corruption.

That's how fascism (in the economic sense, aka corporatism) works. Been
that way for a very long time.

> what a disgraceful disgusting chicagoan shakedown that was - nothing
> short of maritime piracy. if i were a foreign company looking to invest
> in the u.s., that would give me serious pause. especially as we're
> continuing to reward and bail out the financial pirates that are still
> intent on sinking our ship as fast as they can.

That's how it works when government has so much power. The only way to
stop it is to keep government from having the power.


> further reading:
><http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817>

Matt Tabbi (sp?) has many good articles on the theft that's been going
on. ( I assume that's the same one I read a few days ago, didn't check)