No More Bailouts...

[Corno Dolce]

Why should the taxpayer be forced to save a company mired in debt? For reasons of nostalgia??? It simply does not hold water to just hand out money:

http://mises.org/story/3202

[Krummhorn]

I'll second that motion ...
GM needs to start saving money from the top and downward. Just look at how much the top execs are being paid ... it's ludicrous - nobody is worth that much money for doing what? Going around the world accepting awards for this and that, getting a free top of the line car, free gas, free this and free that ... free free free, when they can afford to pay whatever it costs.

The place I retired from 2.5 years ago paid the top banana over $2.7 million per year ... and with all the perks of free this and that. Doesn't make sense to me at all.

Back to GM .. let them fail .. let them solve their own internal financial matters - the US government needs to say "NO" in big fat capital letters. It has to stop at some point - soon, their won't (if there isn't already) be enough gold at Ft. Knox to back up the paper that's being printed. No wonder our dollar value keeps going down. But the new administration will fix that ...

[Corno Dolce]

Here here Krummhorn - you ain't tootin'...

Ya think the new inhabitant of 1600 Pennsylvania Ave. can fix GM's, Ford's, and Chrysler's problems? Throwing taxpayer dollars at the problems will only put a band-aid over the problem.

CD

[Krummhorn]

I was being facetious about the new administration solving the problem, CD. (note the )

Band-aids are not the resolve for this ... those big companies need to fail and fail hard and take all their overpaid execs down the toilet at the same time.

There was a humorous sign I once read ... years ago ... but along the same lines thinking of the day when the big 3 US automakers would totally combine and then everyone would be driving ... yup ... Generalfordlers .

[Corno Dolce]

Aloha GrandMaster Krummhorn,

Yes, I caught the facetious side

Well, the Big three can probably file Chapter 11 - then they are freed of the unions claws. Workers will then go back to their jobs but at half the pay, ergo, about $12/hr instead of $24/hr and keeping their full medical, and dental plus retirement benefits. The management will be shifted out to pasture and new executives will come aboard. Watch then how the price of the autos will come down.

Hahaha - *generalfordlers* - never heard that one before - but it probably makes the most sense to combine the big three into one entity to produce trucks and cars. I would be neat to see cars like the Tesla Roadster or the Lightning roll out of Detroit. The Lightning has the best batteries(nano-Titanates) - will operate in -30C to +75C temperature range. The Tesla Roadster batteries don't tolerate the cold in the northern tier states for some reason.

Cheers,

CD