Re: RIP GM

On Fri, 05 Jun 2009 16:56:50 -0500, F. George McDuffee
<gmcduffee@xxxxxxxxxxxxxxxxxxxxxx> wrote:

On Thu, 4 Jun 2009 23:01:17 -0700, "John R. Carroll"
<jcarroll@ubu,machiningsolution.com> wrote:


"F. George McDuffee" <gmcduffee@xxxxxxxxxxxxxxxxxxxxxx> wrote in message
news:ku2h25dkmlhb68jrjqc4kplotklmrfloeu@xxxxxxxxxx
On Thu, 4 Jun 2009 18:27:18 -0700, "John R. Carroll"
<jcarroll@ubu,machiningsolution.com> wrote:
<snip>
Exactly. We are "saving" a company whose capacity is superfluous.
Won't work unless we pour more and more money in and GM is unlikely to
have
a business plan that even supports debt at the 50 Bn dollar level. It's a
sink hole.

What I'm wondering is who is dumb enough for any of this to seem sensible.
You don't have to be any sort of expert at all to understand that a 200
percent over supply isn't the road to prosperity for anyone. Some capacity
has got to go away and we shouldn't be punishing the guys who did a good
job
or rewarding the ones that didn't.

This still hasn't been explained to my satisfaction.

JC
===
The word you are looking for is "VOTES."

Not nationally. Current polling data indicates that only 37% of voters favor
bailing out GM.
That's up from the low twenties initially. The polls also reveal a real
contradiction that the Obama administration has adresed rather skillfully.
While Americans don't want a bail out, they were really afraid of the
consequenses of BK. The last couple of months have seen a real effort on
everyones part to prepare people for the inevitable.
That, in the end, was why Waggoner had to go. He actually wanted to keep GM
out of court and wouldn't go along with the charade.

JC

========
While the large majority of Americans would just as soon have
seen GM, Chrysler, and the banks go into chapter 7 liquidation,
the typical/majority voters do not have armies of lobbyists and
"influence peddlers" working for them, handing out huge campaign
contribution checks, or even freezer bags of cash in small
unmarked bills.

All votes are not equal. These are only important in the "tight"
races.

The obverse side of the "VOTE" coin is "CAMPAIGN CONTRIBUTIONS."


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).

Don't quite see the advantage of losing domestic Auto makers
or about 5 million jobs or having the PGC, welfare, your health coverage
& etc. pick up the expenses.
Or the advantage of a few million more homes on the market.

Other nations are trying to keep their auto firms afloat too,
who will still be standing?
--
Cliff
.

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