Robbing the Taxpayers

[carpro]

http://hosted.ap.org/dynamic/storie...ME&TEMPLATE=DEFAULT&CTIME=2011-02-14-12-32-31

GM to pay more than $400 million in worker bonuses

By TOM KRISHER
AP Auto Writer


DETROIT (AP) -- Less than two years after entering bankruptcy, General Motors will extend millions of dollars in bonuses to most of its 48,000 hourly workers as a reward for the company's rapid turnaround after it was rescued by the government.

 

[saturneptune]

Hope we will agree on this one. Although Bush and the Republicans started the bailouts in 2008, the specific area of auto bailouts was strictly an Obama creation. It appears GM owes about half the money back to the government. Under those circumstances, they have no business giving anyone a bonus, whether white collar or craft worker. That should have been an understanding before the money was paid by we the people. I wish the company the best in their come back, but no more bonuses until the government is paid back. GM should have never gotten the money in the first place. One has to admire Ford. They took no money, and personally, I think they have a much better product overall. I bought a Ford Focus last April. Its a great car to get around in, nothing fancy. Seems very reliable. I think the most outrageous thing about the GM episode, and another reason they should never have taken the government money, is Obama's hand in getting rid of their CEO. Government has no right to hire or fire people from a private company. That is up to the company.

Nope, this is strictly an Obama fiasco. We agree on most things. It seems our difference of opinion focuses on the worth of the Republican Party. By the way, excellent article and thread.

 

[targus]

(From the OP article) General Motors will extend millions of dollars in bonuses to most of its 48,000 hourly workers as a reward for the company's rapid turnaround after it was rescued by the government.

What exactly did someone working on the line do to contribute to the turn around?

Hint - nothing.

 

[SpiritualMadMan]

SaturnNeptune :thumbsup:

Agreed, I am avoiding Government Motors products.

At least until every cent including interest is paid back and they rule their own roost again...

 

[carpro]

What exactly did someone working on the line do to contribute to the turn around?

Hint - nothing.

It's another union payoff sanctioned by the Obama administration.

 

[targus]

It's another union payoff sanctioned by the Obama administration.

Well, in all fairness...

He does have a re-election to worry about.

 

[mandym]

http://hosted.ap.org/dynamic/storie...ME&TEMPLATE=DEFAULT&CTIME=2011-02-14-12-32-31

GM to pay more than $400 million in worker bonuses

By TOM KRISHER
AP Auto Writer


DETROIT (AP) -- Less than two years after entering bankruptcy, General Motors will extend millions of dollars in bonuses to most of its 48,000 hourly workers as a reward for the company's rapid turnaround after it was rescued by the government.

The union workers were forced to take a pay cut. So giving out these bonuses are an run around that.

 

[billwald]

You all would have been happy (happier) if the Big Three had folded?

Were you all equally unhappy the first time Chrysler was bailed out?

http://uspolitics.about.com/od/economy/a/chryslerBailout.htm

IS IT also evil that Boeing employees got bonuses for exceeding production goals?

http://heraldnet.com/article/20110126/BIZ/701269772

 

[just-want-peace]

Dadgummit Ma, I told you to shut the door! There's a bodacious passle of hot air pourin' in!!!!!

 

[carpro]

You all would have been happy (happier) if the Big Three had folded?

Were you all equally unhappy the first time Chrysler was bailed out?

http://uspolitics.about.com/od/economy/a/chryslerBailout.htm

IS IT also evil that Boeing employees got bonuses for exceeding production goals?

http://heraldnet.com/article/20110126/BIZ/701269772

Is 60% of Boeing owned by the government?

How much does Boeing owe the government?

 

[rbell]

You all would have been happy (happier) if the Big Three had folded?

First of all, the unions are the primary reason they were IN trouble. Let's keep the facts straight.

Second, unpleasant scatological events inevitably occur. I hate it. But that's life. There will be business to open...and close...from here on out. You want a government to guarantee and own the entirety of the production process? That has a name...Fascism. Been tried before. Didn't work out so well.

Third, the auto industry in the US is doing fine, thank you. Just get out of the rust belt...where wages are more competitive, and where companies are turning out better products. Yes, there has been a recession...but if we'll quit trying to hock the country to own all the car companies, we'll be much better off.

 

[saturneptune]

You all would have been happy (happier) if the Big Three had folded?

Were you all equally unhappy the first time Chrysler was bailed out?

http://uspolitics.about.com/od/economy/a/chryslerBailout.htm

IS IT also evil that Boeing employees got bonuses for exceeding production goals?

http://heraldnet.com/article/20110126/BIZ/701269772

I do not think that is the message Carpro is making. No one wants any business to fail in a free and open market. The government cannot even cover their own expenses (another debate), so how can they justify shelling out money to a company that all evidence suggests was not run well on management's part, and a union that demanded too much over a long period of time. What do you expect?

 

[targus]

The government cannot even cover their own expenses (another debate), so how can they justify shelling out money to a company that all evidence suggests was not run well on management's part, and a union that demanded too much over a long period of time. What do you expect?

And to add insult to injury - the bonuses are evidence that nothing has really changed with the auto manufacturers.

It is still business as usual - but now they know that when they blow all of their cash the government will just hand out more.

 

[carpro]

Where is the democrat outrage we saw at the bonuses handed out by GM while they were floundering.

They're still not financially healthy, even after the huge infusion of taxpayers dollars and the ripping off of their creditors and bondholders.

 

[billwald]

>>You all would have been happy (happier) if the Big Three had folded?


>First of all, the unions are the primary reason they were IN trouble. Let's keep the facts straight.

First of all, the Big Three started building TERRIBLY JUNKY cars in the late 60's and early 70's. The Big Three wrongly forecast the sorts of cars that people were willing to buy. The quality of Big Three car designs was terrible and so was quality control.
For 20 years Detroit didn't build a car that I wanted to buy.

Second, it is NOT the union's fault that the Big Three's economic forecasting and technical planning was terrible and they signed contracts which lost them money. The unions fulfilled their end of the contracts.

 

[rbell]

>>You all would have been happy (happier) if the Big Three had folded?


>First of all, the unions are the primary reason they were IN trouble. Let's keep the facts straight.

First of all, the Big Three started building TERRIBLY JUNKY cars in the late 60's and early 70's. The Big Three wrongly forecast the sorts of cars that people were willing to buy. The quality of Big Three car designs was terrible and so was quality control.
For 20 years Detroit didn't build a car that I wanted to buy.

Second, it is NOT the union's fault that the Big Three's economic forecasting and technical planning was terrible and they signed contracts which lost them money. The unions fulfilled their end of the contracts.

I cannot help that you won't deal with reality. Perhaps you should quit reading the Union Newsletter and begin to think as an autonomous human being.