Glad to see manufacturing is still expendable

[AllentownJake]

and that banks are not still. Just so everyone knows, GM is a bloated management top heavy company, however GM never did anything to cause this fucking crisis. The banks did that and the people who created this crisis are still sitting in their nice offices collecting salaries and bonuses and planning their next scam.

Glad to see that we took a stand on their CEO he should be fired he's part of the reason they failed, however on the lists of CEOs who should be doing a walk of shame right now he's not even in the top 10.

[Kolesar]

1. Industrial America is going to have to deal with ruined pension funds

...in a financial "market" where the value of bonds were destroyed by the banksters.

[crikkett]

2. I'm sorry, who killed the electric car?

GM had a chance to be sitting pretty. Instead, they remained part of the problem. Remember how the automakers sued rather than have California raise its environmental standards.

[Kolesar]

3. The same guy who killed cold fusion

:sarcasm:

[AllentownJake]

4. I never said GM was a perfect company

However, their role in this crisis is minimal.

99 cent gas in the 90s killed the Electric car more than GM ever did.

[crikkett]

18. "99c gas killed the Electric car" -- have you seen the documentary?

I suggest you see the documentary. You may change your tune.

[geckosfeet]

5. The difference is, GM is poorly managed, finanial institutions are managed by criminals.

[liberal N proud]

6. The car companies failure will put a hell of a dent in any recovery

Do they really still believe the rich bastards are going to invest in this nation? It hasn't happened for nearly 30 years why would it start now?

[FreakinDJ]

7. Expansion of Manufacturing = America's Wealth

The rapid expansion of Manufacturing in the 1950s is what made America the Economic Super Power

Well at least China hasn't forgotten that lesson

[Dinger]

8. Is There A Connection Between The AIG/Banking Industry And The Auto Industry's

screwing? I'm just asking.

[Dawgs]

9. Bullshit. GM was making stupid decisions LONG before the economic crisis.

They shouldn't go away, but acting like they've done nothing wrong is stupid.

[AllentownJake]

10. No one said they did nothing wrong

I just find it odd that the banks which have caused this mess are given a free pass and the auto companies are raked over the coals.

[nc4bo]

11. I've been steaming over this.

The $$$ that the auto industry has/is receiving is nothing compared to the billions given to mismanaged, greedy banks and other financial institutions.

I don't hear much about forcing any of those POS CEO's and other upper management personnel to step down when I personally feel it should have been a prerequisite before they received a single dime of bailout money.

Just MHO.

[lunatica]

12. Banks are world wide. Car makers are local

That's a bit of exaggeration, but fundamentally true. Banks really are the assholes of the planet. You know, like that story about all the parts of the body having a fight over who's boss. Every part, the brain, the muscles, the legs, the heart all want to be boss because they're each so important to the body, but then the asshole pipes up and says it wants to be boss. The rest of the body part just laugh at it and it gets mad and clamps shut. Soon all the other parts of the body are unable to function at their peak levels due to a very severe case of constipation so they eventually give in and let the asshole be the boss. Lesson learned? The assholes rule.

The banks are the assholes of the planet

[nc4bo]

13. Temporary colostomy needed.

Let that hole know it isn't nearly as important as it seems to think it is.

That was beautifully put btw. :rofl:

[stillcool]

17. Didn't Liddy replace

the CEO at AIG around the time of the bail-out in October/November, with a salary of a dollar a year, or something? I seem to remember from the Congressional hearings that other executives were let go as well.

[girl gone mad]

22. And he proceeded to hand out tens of millions in bonuses..

while the company was losing $60 billion in one quarter.

He's no gem. Plus the board is mostly still intact.

[stillcool]

26. When was he put in place?

October? November? The bail-out bill was introduced in October, no? I suppose he's as good a target to attack as anyone. I would think the share-holders would decide which board members stayed on. That doesn't mean that executive management positions were not axed.

[Skwmom]

14. But look at the big picture. We export all of the manufacturing jobs

while becoming the financial capital of the world, creating high dollar jobs in the financial industry.

Of course, now that the rest of the world realizes how corrupt and stupid our financial industry is, I'm not sure how good that idea is going to work out.

[Thrill]

15. What the hell are you talking about. He's trying to save GM and the Auto Industry

[azmouse]

16. Pres Obama isn't saying he won't help the automakers at all...

He wants them to do things that will justify them getting more taxpayer money... to prove that they are taking the steps necessary to be competitive and survive in the long term.

[Raineyb]

19. And we didn't put these same conditions on Wall Street because... n/t

[azmouse]

20. Oh I'm sure you have your MSM answer ready at hand.

It's the same old shit day after day after day...

[Raineyb]

21. What a surprise no answere here. n/t

Definitely the same old shit.

[izzybeans]

23. Forcing a poorly performing CEO to resign isn't the same thing as killing manufacturing.

[smoogatz]

24. GM deserves to die--but it won't.

It'll just be a lot smaller. We'll still have Chevy, Cadillac and GMC to kick around for a while yet.

It wasn't so much that GM's management structure was that much worse than anybody else's--the problem for a long time has been the same MBA-driven, bottom-line business philosophy that wrecked the banks. If GM had re-invested in manufacturing and R&D they way they should have, they'd be in decent shape. If the U.S. had national health insurance, they'd be in good shape. If they made efficient, dependable cars that didn't suck, they'd be Toyota. But they didn't, we don't, and they ain't.

[Hippo_Tron]

25. Banks fail = Great Depression 2 for the entire country

GM fails = Great Depression 2 for Detroit. This isn't about who did what in the past.