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	<title>Comments on: Understanding the GM bankruptcy</title>
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		<title>By: Sport Video</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-12558</link>
		<dc:creator>Sport Video</dc:creator>
		<pubDate>Fri, 09 Oct 2009 18:55:57 +0000</pubDate>
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		<description>One terribly deleterious effect you fail to mention is that now car companies that actually are making it (or halfway-making-it) have to compete against the federal government for funding and sales. 
 &lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;12558&#039;,&#039;Sport Video&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;12558&#039;,&#039;Sport Video&#039;,&#039;One terribly deleterious effect you fail to mention is that now car companies that actually are making it (or halfway-making-it) have to compete against the federal government for funding and sales. \n &#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>One terribly deleterious effect you fail to mention is that now car companies that actually are making it (or halfway-making-it) have to compete against the federal government for funding and sales. </p>
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('12558','Sport Video'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('12558','Sport Video','One terribly deleterious effect you fail to mention is that now car companies that actually are making it (or halfway-making-it) have to compete against the federal government for funding and sales. \n '); return false;">Quote</a></div>
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		<title>By: Ryan</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-2817</link>
		<dc:creator>Ryan</dc:creator>
		<pubDate>Wed, 08 Jul 2009 04:53:03 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-2817</guid>
		<description>All I have to say about his whole mess is real simple.  It is a VERY sad day in this country when we watch GM crumble.  The real fault lies with the American people themselves.  People in this country no longer really care about this country it seems.  I own 4 GM cars and I am the ONLY person on my street that drives a domestic product. My neighbors think I am nuts..and one even told me so.  I drive them because I feel that as an American it is the RIGHT thing to do.  How many other people feel that way?  NOT MANY.  And there folks, lies the problem, the real root of all of these frigging problems that exist right now with this country.  Nobody really seems to care much anymore.  Everyone is just interested in the quick buck, what&#039;s in it for me RIGHT NOW.  My grandfather faught in WWII. I cant think of one person I knew from that generation that drove a foreign car, but times have changed.  I&#039;ll always drive an American car, I like GM cars, they have always been decent cars for me and I&#039;ll continue to drive them as long as I can.  The problem today is that nobody else really seems to think like me.  Until that changes...just stand by and watch as GM, Chrysler and then Ford eventually die off and you see nothing but foreign cars on the road in the US.  Maybe some people dont care but I do.  In short...start buying American made cars again folks, they are good cars...dont be so selfish..do whats right.&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;2817&#039;,&#039;Ryan&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;2817&#039;,&#039;Ryan&#039;,&#039;All I have to say about his whole mess is real simple.  It is a VERY sad day in this country when we watch GM crumble.  The real fault lies with the American people themselves.  People in this country no longer really care about this country it seems.  I own 4 GM cars and I am the ONLY person on my street that drives a domestic product. My neighbors think I am nuts..and one even told me so.  I drive them because I feel that as an American it is the RIGHT thing to do.  How many other people feel that way?  NOT MANY.  And there folks, lies the problem, the real root of all of these frigging problems that exist right now with this country.  Nobody really seems to care much anymore.  Everyone is just interested in the quick buck, what\&#039;s in it for me RIGHT NOW.  My grandfather faught in WWII. I cant think of one person I knew from that generation that drove a foreign car, but times have changed.  I\&#039;ll always drive an American car, I like GM cars, they have always been decent cars for me and I\&#039;ll continue to drive them as long as I can.  The problem today is that nobody else really seems to think like me.  Until that changes...just stand by and watch as GM, Chrysler and then Ford eventually die off and you see nothing but foreign cars on the road in the US.  Maybe some people dont care but I do.  In short...start buying American made cars again folks, they are good cars...dont be so selfish..do whats right.&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>All I have to say about his whole mess is real simple.  It is a VERY sad day in this country when we watch GM crumble.  The real fault lies with the American people themselves.  People in this country no longer really care about this country it seems.  I own 4 GM cars and I am the ONLY person on my street that drives a domestic product. My neighbors think I am nuts..and one even told me so.  I drive them because I feel that as an American it is the RIGHT thing to do.  How many other people feel that way?  NOT MANY.  And there folks, lies the problem, the real root of all of these frigging problems that exist right now with this country.  Nobody really seems to care much anymore.  Everyone is just interested in the quick buck, what&#8217;s in it for me RIGHT NOW.  My grandfather faught in WWII. I cant think of one person I knew from that generation that drove a foreign car, but times have changed.  I&#8217;ll always drive an American car, I like GM cars, they have always been decent cars for me and I&#8217;ll continue to drive them as long as I can.  The problem today is that nobody else really seems to think like me.  Until that changes&#8230;just stand by and watch as GM, Chrysler and then Ford eventually die off and you see nothing but foreign cars on the road in the US.  Maybe some people dont care but I do.  In short&#8230;start buying American made cars again folks, they are good cars&#8230;dont be so selfish..do whats right.
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('2817','Ryan'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('2817','Ryan','All I have to say about his whole mess is real simple.  It is a VERY sad day in this country when we watch GM crumble.  The real fault lies with the American people themselves.  People in this country no longer really care about this country it seems.  I own 4 GM cars and I am the ONLY person on my street that drives a domestic product. My neighbors think I am nuts..and one even told me so.  I drive them because I feel that as an American it is the RIGHT thing to do.  How many other people feel that way?  NOT MANY.  And there folks, lies the problem, the real root of all of these frigging problems that exist right now with this country.  Nobody really seems to care much anymore.  Everyone is just interested in the quick buck, what\'s in it for me RIGHT NOW.  My grandfather faught in WWII. I cant think of one person I knew from that generation that drove a foreign car, but times have changed.  I\'ll always drive an American car, I like GM cars, they have always been decent cars for me and I\'ll continue to drive them as long as I can.  The problem today is that nobody else really seems to think like me.  Until that changes...just stand by and watch as GM, Chrysler and then Ford eventually die off and you see nothing but foreign cars on the road in the US.  Maybe some people dont care but I do.  In short...start buying American made cars again folks, they are good cars...dont be so selfish..do whats right.'); return false;">Quote</a></div>
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		<title>By: unparalled61</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-2715</link>
		<dc:creator>unparalled61</dc:creator>
		<pubDate>Tue, 07 Jul 2009 02:14:04 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-2715</guid>
		<description>nice blog. now everything was clear.&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;2715&#039;,&#039;unparalled61&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;2715&#039;,&#039;unparalled61&#039;,&#039;nice blog. now everything was clear.&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>nice blog. now everything was clear.
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('2715','unparalled61'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('2715','unparalled61','nice blog. now everything was clear.'); return false;">Quote</a></div>
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		<title>By: CYBORG</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-1652</link>
		<dc:creator>CYBORG</dc:creator>
		<pubDate>Sun, 21 Jun 2009 17:39:25 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-1652</guid>
		<description>Well I suppose you have to be right on a lot of what you said???? However, without counting the UNION as a MAJOR cause of the problem, I don&#039;t know how much the rest matters. There have been many comments that the &gt;&gt; rescue plan &lt;&lt;  was nothing more that paying off the Unions and giving them control, which the governemnet will have to subsidize for eternity. 

Back in the early 1970, late 60&#039;s Unionized Detroit took 13.5 hours to make a car. Japan made the same comparable car in 7.4 hours. The Union would NOT allow the use of Robots unless all the displaced workers were remployed / reassigned. The benefits they were collecting were also outrageous. Sure - good for the worker - a disaster for the industry. The wages were also higher than even the highest wage paid in the construction industry. 
The Union did the same thing to the Steel Industy back in the 60&#039;s In the Gary - Hammond Indiana are 30 - 35,000 steelworkers once worked there. Today it is somewhat above 5,000. The Union fought robots use there. In one smeller over 4,000 people used to work. Today it is about a dozen. It is almost all computerized. Most of the work was picked up by overseas interests because of the Union. 
Today the Unions are still infiltrated by a large MAFIA presence and the leaders are very strong Socialist and even Communist. The Head of the SEIU was once the head of the Democrat Socialist Party. M any are active and some are active in the Communist Party.&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;1652&#039;,&#039;CYBORG&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;1652&#039;,&#039;CYBORG&#039;,&#039;Well I suppose you have to be right on a lot of what you said???? However, without counting the UNION as a MAJOR cause of the problem, I don\&#039;t know how much the rest matters. There have been many comments that the &gt;&gt; rescue plan &lt;&lt;  was nothing more that paying off the Unions and giving them control, which the governemnet will have to subsidize for eternity. \r\n\r\nBack in the early 1970, late 60&#039;s Unionized Detroit took 13.5 hours to make a car. Japan made the same comparable car in 7.4 hours. The Union would NOT allow the use of Robots unless all the displaced workers were remployed \/ reassigned. The benefits they were collecting were also outrageous. Sure - good for the worker - a disaster for the industry. The wages were also higher than even the highest wage paid in the construction industry. \r\nThe Union did the same thing to the Steel Industy back in the 60&#039;s In the Gary - Hammond Indiana are 30 - 35,000 steelworkers once worked there. Today it is somewhat above 5,000. The Union fought robots use there. In one smeller over 4,000 people used to work. Today it is about a dozen. It is almost all computerized. Most of the work was picked up by overseas interests because of the Union. \r\nToday the Unions are still infiltrated by a large MAFIA presence and the leaders are very strong Socialist and even Communist. The Head of the SEIU was once the head of the Democrat Socialist Party. M any are active and some are active in the Communist Party.&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>Well I suppose you have to be right on a lot of what you said???? However, without counting the UNION as a MAJOR cause of the problem, I don&#8217;t know how much the rest matters. There have been many comments that the &gt;&gt; rescue plan &lt;&lt;  was nothing more that paying off the Unions and giving them control, which the governemnet will have to subsidize for eternity. </p>
<p>Back in the early 1970, late 60&#039;s Unionized Detroit took 13.5 hours to make a car. Japan made the same comparable car in 7.4 hours. The Union would NOT allow the use of Robots unless all the displaced workers were remployed / reassigned. The benefits they were collecting were also outrageous. Sure &#8211; good for the worker &#8211; a disaster for the industry. The wages were also higher than even the highest wage paid in the construction industry.<br />
The Union did the same thing to the Steel Industy back in the 60&#039;s In the Gary &#8211; Hammond Indiana are 30 &#8211; 35,000 steelworkers once worked there. Today it is somewhat above 5,000. The Union fought robots use there. In one smeller over 4,000 people used to work. Today it is about a dozen. It is almost all computerized. Most of the work was picked up by overseas interests because of the Union.<br />
Today the Unions are still infiltrated by a large MAFIA presence and the leaders are very strong Socialist and even Communist. The Head of the SEIU was once the head of the Democrat Socialist Party. M any are active and some are active in the Communist Party.
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('1652','CYBORG'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('1652','CYBORG','Well I suppose you have to be right on a lot of what you said???? However, without counting the UNION as a MAJOR cause of the problem, I don\'t know how much the rest matters. There have been many comments that the &amp;gt;&amp;gt; rescue plan &amp;lt;&amp;lt;  was nothing more that paying off the Unions and giving them control, which the governemnet will have to subsidize for eternity. \r\n\r\nBack in the early 1970, late 60&amp;#039;s Unionized Detroit took 13.5 hours to make a car. Japan made the same comparable car in 7.4 hours. The Union would NOT allow the use of Robots unless all the displaced workers were remployed \/ reassigned. The benefits they were collecting were also outrageous. Sure - good for the worker - a disaster for the industry. The wages were also higher than even the highest wage paid in the construction industry. \r\nThe Union did the same thing to the Steel Industy back in the 60&amp;#039;s In the Gary - Hammond Indiana are 30 - 35,000 steelworkers once worked there. Today it is somewhat above 5,000. The Union fought robots use there. In one smeller over 4,000 people used to work. Today it is about a dozen. It is almost all computerized. Most of the work was picked up by overseas interests because of the Union. \r\nToday the Unions are still infiltrated by a large MAFIA presence and the leaders are very strong Socialist and even Communist. The Head of the SEIU was once the head of the Democrat Socialist Party. M any are active and some are active in the Communist Party.'); return false;">Quote</a></div>
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		<title>By: Fredrik Nyman</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-1/#comment-813</link>
		<dc:creator>Fredrik Nyman</dc:creator>
		<pubDate>Tue, 09 Jun 2009 01:20:46 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-813</guid>
		<description>The 16M figure is for the entire US market (all manufacturers combined).  GM&#039;s market share was 30-something percent, say 5M units.&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;813&#039;,&#039;Fredrik Nyman&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;813&#039;,&#039;Fredrik Nyman&#039;,&#039;The 16M figure is for the entire US market (all manufacturers combined).  GM\&#039;s market share was 30-something percent, say 5M units.&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>The 16M figure is for the entire US market (all manufacturers combined).  GM&#8217;s market share was 30-something percent, say 5M units.
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('813','Fredrik Nyman'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('813','Fredrik Nyman','The 16M figure is for the entire US market (all manufacturers combined).  GM\'s market share was 30-something percent, say 5M units.'); return false;">Quote</a></div>
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		<title>By: Tod Ginnis</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-812</link>
		<dc:creator>Tod Ginnis</dc:creator>
		<pubDate>Mon, 08 Jun 2009 15:13:45 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-812</guid>
		<description>I&#039;m having trouble getting my hands around the dealership closing issue.  How does closing a huge number of dealerships benefit GM?  My understanding of their relationship is that of customers who pay all of their own bills.  Isn&#039;t this the equivalent of Sony telling a bunch of retailers it no longer wants them selling its products?  What does GM care if there are &quot;too many&quot; dealers?  Let the marketplace sort that out.

Obviously the dealers themselves are talking their own positions: whether or not they are profitable has no impact on the auto company&#039;s bottom line.  Of course any franchise agreements in place should be respected (unless nixed by the bankruptcy court).  A friend&#039;s father was a long-time Ford dealer paid to go away.  I&#039;m dubious of the conspiracy theories about politically-motivated closings, as like most such theories they assume a &quot;hyper-competent&quot; government.  Such an entity exists only in fiction.

So what&#039;s going on here?  Are there costs to GM that I&#039;m missing?&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;812&#039;,&#039;Tod Ginnis&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;812&#039;,&#039;Tod Ginnis&#039;,&#039;I\&#039;m having trouble getting my hands around the dealership closing issue.  How does closing a huge number of dealerships benefit GM?  My understanding of their relationship is that of customers who pay all of their own bills.  Isn\&#039;t this the equivalent of Sony telling a bunch of retailers it no longer wants them selling its products?  What does GM care if there are \&quot;too many\&quot; dealers?  Let the marketplace sort that out.\n\nObviously the dealers themselves are talking their own positions: whether or not they are profitable has no impact on the auto company\&#039;s bottom line.  Of course any franchise agreements in place should be respected (unless nixed by the bankruptcy court).  A friend\&#039;s father was a long-time Ford dealer paid to go away.  I\&#039;m dubious of the conspiracy theories about politically-motivated closings, as like most such theories they assume a \&quot;hyper-competent\&quot; government.  Such an entity exists only in fiction.\n\nSo what\&#039;s going on here?  Are there costs to GM that I\&#039;m missing?&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>I&#8217;m having trouble getting my hands around the dealership closing issue.  How does closing a huge number of dealerships benefit GM?  My understanding of their relationship is that of customers who pay all of their own bills.  Isn&#8217;t this the equivalent of Sony telling a bunch of retailers it no longer wants them selling its products?  What does GM care if there are &#8220;too many&#8221; dealers?  Let the marketplace sort that out.</p>
<p>Obviously the dealers themselves are talking their own positions: whether or not they are profitable has no impact on the auto company&#8217;s bottom line.  Of course any franchise agreements in place should be respected (unless nixed by the bankruptcy court).  A friend&#8217;s father was a long-time Ford dealer paid to go away.  I&#8217;m dubious of the conspiracy theories about politically-motivated closings, as like most such theories they assume a &#8220;hyper-competent&#8221; government.  Such an entity exists only in fiction.</p>
<p>So what&#8217;s going on here?  Are there costs to GM that I&#8217;m missing?
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('812','Tod Ginnis'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('812','Tod Ginnis','I\'m having trouble getting my hands around the dealership closing issue.  How does closing a huge number of dealerships benefit GM?  My understanding of their relationship is that of customers who pay all of their own bills.  Isn\'t this the equivalent of Sony telling a bunch of retailers it no longer wants them selling its products?  What does GM care if there are \&quot;too many\&quot; dealers?  Let the marketplace sort that out.\n\nObviously the dealers themselves are talking their own positions: whether or not they are profitable has no impact on the auto company\'s bottom line.  Of course any franchise agreements in place should be respected (unless nixed by the bankruptcy court).  A friend\'s father was a long-time Ford dealer paid to go away.  I\'m dubious of the conspiracy theories about politically-motivated closings, as like most such theories they assume a \&quot;hyper-competent\&quot; government.  Such an entity exists only in fiction.\n\nSo what\'s going on here?  Are there costs to GM that I\'m missing?'); return false;">Quote</a></div>
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		<title>By: 小老鼠</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-810</link>
		<dc:creator>小老鼠</dc:creator>
		<pubDate>Mon, 08 Jun 2009 12:13:01 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-810</guid>
		<description></description>
		<content:encoded><![CDATA[<p>。。。。。。。。
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('810','&aring;&deg;&egrave;&eacute;&frac14;&nbsp;'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('810','&aring;&deg;&egrave;&eacute;&frac14;&nbsp;','&atilde;&atilde;&atilde;&atilde;&atilde;&atilde;&atilde;&atilde;'); return false;">Quote</a></div>
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		<title>By: Ed Bradford</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-811</link>
		<dc:creator>Ed Bradford</dc:creator>
		<pubDate>Mon, 08 Jun 2009 07:43:11 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-811</guid>
		<description>I have a question about all the jobs being lost in bankruptcy and environmental religion. If America bought 16 million GM cars in 2005 and GM was liquidated in 2009, where would the 16 million cars come from when the economy recovers?

If GM had to build 16 million cars to satisfy American and to keep Honda and Toyota from shipping cars to this country why wouldn&#039;t new auto manufacturing plants open up to build the 16 million cars America wants? Does it matter whether the plant is GM or Chrysler or Roger Penske&#039;s? Just because GM liquidates that doesn&#039;t mean America won&#039;t build the cars. It does mean there would be an interruption -- a very significant interruption. However, it seems to me that the auto manufacturing jobs would just grow again because Americans like to drive and shipping an automobile from Japan to the US costs about $5,000. [At least that is the cost of a contain which is roughly the same size as a car.] What am I missing?&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;811&#039;,&#039;Ed Bradford&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;811&#039;,&#039;Ed Bradford&#039;,&#039;I have a question about all the jobs being lost in bankruptcy and environmental religion. If America bought 16 million GM cars in 2005 and GM was liquidated in 2009, where would the 16 million cars come from when the economy recovers?\n\nIf GM had to build 16 million cars to satisfy American and to keep Honda and Toyota from shipping cars to this country why wouldn\&#039;t new auto manufacturing plants open up to build the 16 million cars America wants? Does it matter whether the plant is GM or Chrysler or Roger Penske\&#039;s? Just because GM liquidates that doesn\&#039;t mean America won\&#039;t build the cars. It does mean there would be an interruption -- a very significant interruption. However, it seems to me that the auto manufacturing jobs would just grow again because Americans like to drive and shipping an automobile from Japan to the US costs about $5,000. &#91;At least that is the cost of a contain which is roughly the same size as a car.&#93; What am I missing?&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>I have a question about all the jobs being lost in bankruptcy and environmental religion. If America bought 16 million GM cars in 2005 and GM was liquidated in 2009, where would the 16 million cars come from when the economy recovers?</p>
<p>If GM had to build 16 million cars to satisfy American and to keep Honda and Toyota from shipping cars to this country why wouldn&#8217;t new auto manufacturing plants open up to build the 16 million cars America wants? Does it matter whether the plant is GM or Chrysler or Roger Penske&#8217;s? Just because GM liquidates that doesn&#8217;t mean America won&#8217;t build the cars. It does mean there would be an interruption &#8212; a very significant interruption. However, it seems to me that the auto manufacturing jobs would just grow again because Americans like to drive and shipping an automobile from Japan to the US costs about $5,000. [At least that is the cost of a contain which is roughly the same size as a car.] What am I missing?
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('811','Ed Bradford'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('811','Ed Bradford','I have a question about all the jobs being lost in bankruptcy and environmental religion. If America bought 16 million GM cars in 2005 and GM was liquidated in 2009, where would the 16 million cars come from when the economy recovers?\n\nIf GM had to build 16 million cars to satisfy American and to keep Honda and Toyota from shipping cars to this country why wouldn\'t new auto manufacturing plants open up to build the 16 million cars America wants? Does it matter whether the plant is GM or Chrysler or Roger Penske\'s? Just because GM liquidates that doesn\'t mean America won\'t build the cars. It does mean there would be an interruption -- a very significant interruption. However, it seems to me that the auto manufacturing jobs would just grow again because Americans like to drive and shipping an automobile from Japan to the US costs about $5,000. &amp;#91;At least that is the cost of a contain which is roughly the same size as a car.&amp;#93; What am I missing?'); return false;">Quote</a></div>
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		<title>By: Hennessey on GM &#124; Constant Conservative</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-809</link>
		<dc:creator>Hennessey on GM &#124; Constant Conservative</dc:creator>
		<pubDate>Thu, 04 Jun 2009 21:18:03 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-809</guid>
		<description>[...] very detailed look at the bailout/bankruptcy/takeover of GM by someone who worked on the issue under the Bush administration last year.   Share with [...]&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;809&#039;,&#039;Hennessey on GM &#124; Constant Conservative&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;809&#039;,&#039;Hennessey on GM &#124; Constant Conservative&#039;,&#039;&#91;...&#93; very detailed look at the bailout\/bankruptcy\/takeover of GM by someone who worked on the issue under the Bush administration last year.   Share with &#91;...&#93;&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>[...] very detailed look at the bailout/bankruptcy/takeover of GM by someone who worked on the issue under the Bush administration last year.   Share with [...]
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('809','Hennessey on GM | Constant Conservative'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('809','Hennessey on GM | Constant Conservative','&amp;#91;...&amp;#93; very detailed look at the bailout\/bankruptcy\/takeover of GM by someone who worked on the issue under the Bush administration last year.   Share with &amp;#91;...&amp;#93;'); return false;">Quote</a></div>
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		<title>By: Steve MacDonald</title>
		<link>http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/comment-page-3/#comment-808</link>
		<dc:creator>Steve MacDonald</dc:creator>
		<pubDate>Thu, 04 Jun 2009 10:51:46 +0000</pubDate>
		<guid isPermaLink="false">http://keithhennessey.com/2009/06/01/understanding-the-gm-bankruptcy/#comment-808</guid>
		<description>Suppose the deal announced today were the only possible pre-packaged bankruptcy, and your choice was to take it or allow GM to liquidate now.  What would you do? i would allow the company to liquidate now.
1. A cleaned up balance sheet does not address the fundamental issue of uncompetitive compensation and work practices. it is like cutting out half the cancer and leaving the rest to sort itself out.
2. Bypassing established bankrupcy law is an absolutely horrible precedent that will have far ranging unintended negative consequences. Note: I hold a small amount of GM bonds and so am one of the shafted unsecured creditors. Who in the world (that is not government owned) would lend money to either Chrysler or GM in the future?
3. You make the point of questionable market share assumptions. I for one would never contemplate purchasing a GM or Chrysler vehicle and suspect that a significant number of people feel the same way. permanently alienating a substantial portion of potential customers is not great marketing.
4. As to the point raised above re. automotive rebounds in France and Italy - these instances can not be taken in isolation but must be viewed as a part of the country approach, which it is. I would not care to trade economic growth rates with either of these countries.
5. I do not share your faith re. the veracity of the adminisration&#039;s statements that they do not care to run the company.&lt;div class=&quot;comment-remix-meta&quot;&gt;&lt;a href=&quot;#&quot; class=&quot;replyto&quot; onclick=&quot;replyto(&#039;808&#039;,&#039;Steve MacDonald&#039;); return false;&quot;&gt;Reply&lt;/a&gt;  - &lt;a href=&quot;#&quot; class=&quot;quote&quot; onclick=&quot;quote(&#039;808&#039;,&#039;Steve MacDonald&#039;,&#039;Suppose the deal announced today were the only possible pre-packaged bankruptcy, and your choice was to take it or allow GM to liquidate now.  What would you do? i would allow the company to liquidate now.\n1. A cleaned up balance sheet does not address the fundamental issue of uncompetitive compensation and work practices. it is like cutting out half the cancer and leaving the rest to sort itself out.\n2. Bypassing established bankrupcy law is an absolutely horrible precedent that will have far ranging unintended negative consequences. Note: I hold a small amount of GM bonds and so am one of the shafted unsecured creditors. Who in the world (that is not government owned) would lend money to either Chrysler or GM in the future?\n3. You make the point of questionable market share assumptions. I for one would never contemplate purchasing a GM or Chrysler vehicle and suspect that a significant number of people feel the same way. permanently alienating a substantial portion of potential customers is not great marketing.\n4. As to the point raised above re. automotive rebounds in France and Italy - these instances can not be taken in isolation but must be viewed as a part of the country approach, which it is. I would not care to trade economic growth rates with either of these countries.\n5. I do not share your faith re. the veracity of the adminisration\&#039;s statements that they do not care to run the company.&#039;); return false;&quot;&gt;Quote&lt;/a&gt;&lt;/div&gt;</description>
		<content:encoded><![CDATA[<p>Suppose the deal announced today were the only possible pre-packaged bankruptcy, and your choice was to take it or allow GM to liquidate now.  What would you do? i would allow the company to liquidate now.<br />
1. A cleaned up balance sheet does not address the fundamental issue of uncompetitive compensation and work practices. it is like cutting out half the cancer and leaving the rest to sort itself out.<br />
2. Bypassing established bankrupcy law is an absolutely horrible precedent that will have far ranging unintended negative consequences. Note: I hold a small amount of GM bonds and so am one of the shafted unsecured creditors. Who in the world (that is not government owned) would lend money to either Chrysler or GM in the future?<br />
3. You make the point of questionable market share assumptions. I for one would never contemplate purchasing a GM or Chrysler vehicle and suspect that a significant number of people feel the same way. permanently alienating a substantial portion of potential customers is not great marketing.<br />
4. As to the point raised above re. automotive rebounds in France and Italy &#8211; these instances can not be taken in isolation but must be viewed as a part of the country approach, which it is. I would not care to trade economic growth rates with either of these countries.<br />
5. I do not share your faith re. the veracity of the adminisration&#8217;s statements that they do not care to run the company.
<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('808','Steve MacDonald'); return false;">Reply</a>  &#8211; <a href="#" class="quote" onclick="quote('808','Steve MacDonald','Suppose the deal announced today were the only possible pre-packaged bankruptcy, and your choice was to take it or allow GM to liquidate now.  What would you do? i would allow the company to liquidate now.\n1. A cleaned up balance sheet does not address the fundamental issue of uncompetitive compensation and work practices. it is like cutting out half the cancer and leaving the rest to sort itself out.\n2. Bypassing established bankrupcy law is an absolutely horrible precedent that will have far ranging unintended negative consequences. Note: I hold a small amount of GM bonds and so am one of the shafted unsecured creditors. Who in the world (that is not government owned) would lend money to either Chrysler or GM in the future?\n3. You make the point of questionable market share assumptions. I for one would never contemplate purchasing a GM or Chrysler vehicle and suspect that a significant number of people feel the same way. permanently alienating a substantial portion of potential customers is not great marketing.\n4. As to the point raised above re. automotive rebounds in France and Italy - these instances can not be taken in isolation but must be viewed as a part of the country approach, which it is. I would not care to trade economic growth rates with either of these countries.\n5. I do not share your faith re. the veracity of the adminisration\'s statements that they do not care to run the company.'); return false;">Quote</a></div>
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