GM to invest 450m in Argentina to manufacture a global Chevy vehicle

Outsourcing.

Our bailout funds at work.

http://en.mercopress.com/2012/10/25...gentina-to-manufacture-a-global-chevy-vehicle

 

Hmmm, trying to expand the products of the company, to make more money. Sounds like a good idea.

 

Using taxpayer funds to build plants in Argentina.

Sounds like a scam.

 

after hearing barrys bull shit about "bringing jobs back" what a hoot

 

Right. We'd all be better off if GM had just gone under.

 

They wouldn't have "gone under". They would have had a normal bankruptcy, instead of one that bailed out the unions instead of the bond holders. A bankruptcy just like thousands of other companies have gone through, only to come out better afterward.

"Bankruptcy" doesn't mean "liquidation".

The ignorance is staggering at times.

 

Hopefully that last line was directed at yourself. At the time that GM was on the precipice, there was this thing called a "financial crisis" going on. Banks weren't exactly lining up to invest in ANY companies, let alone those in dire financial situations like GM. Some months later, the company that I'm with actually raised money on the street and people were stunned that we'd accomplished it. We succeeded because we were in pretty solid financial shape, had strong business prospects and the amount raised was not prohibitive given the financial crisis. At that point in time, GM would not have been able to accomplish in bankruptcy in the way you suggest because of bad fundamentals and the huge amount of money required. Most other times what you suggest might be correct.

(And anyway, even if you were right, why do you need to be such a dork about it?

 

Um, no. The GM bail-out was after TARP, and instead of having the bondholders be first in line for the bankruptcy, the UAW and their pensions were protected.

GM would not have "gone under", it just would have been a normal bankruptcy, instead of a government bail-out.

 

yep

Ford was smart to not take the money, Chrysler got fucked for the unions sake, as did GM

 

You're probably right.

 

Next is a picture of me in a dunce cap. It is over. Let's have an adult in charge of the USA again.

 

Say it all you want, but the GM bankruptcy would not have gone down like that. It would've been more like the Hummer brand ending up in China than a restructuring along the lines you are pointing to.

I don't think you understand how dicey things were during those times.

 

what was killing the US auto industry was the unions. Companies like Honda, Toyota, Hyundia, Kia, all building cars here could pay lower wages..and had nothing compared to US makers in the way of pension obligation. I dont remember the actual figures but they had about a tenth per car cost vs the US.

Had GM been able to dump all that the turn around for the company would been much quicker and would have left them on more solid ground.

 

they won't have to pay back the government. :MARIS61:

 

El Prez is on it here. They got sweat heart deals up front. The true costs of the money became apparent only later. When the white house had the power to dictate the future of those who had stepped to the feed bag, well that was the end for chrysler being a US company, being forced to sell to fucking fiat (yeah, they know how to build cars...) This was also a move to save the unions.

Fucking GM became union and US owned..as an aside, have you noticed how friendly the gov and the press are toward GM now, compared to , say four years ago..


Again, only ford closed old plants in spite of the union bs, and restructured. Now they have one of the best lineups in decades.

 

Ford was in much better shape than GM and it's not a good comparison.