First Obama Dividend Payment

[JAMESBJOHNSON]

It looks like GM is headed for bankruptcy.

Democrats are warning that Republicans will likely oppose a bailout for GM and the other automakers. The Democrats dont have the votes to make it happen.

After I read the article the first thought in my mind was OBAMA. My 2nd thought was: BUSH PLANS TO HURT THE AUTO WORKERS UNION AND OHIO, MICHIGAN for supporting Obama.

Or the GOP may be playing 'chicken' with Pelosi, to get something in exchange....say...Al Franken's head on a platter?

 

[Boota]

Probably just payback for labor unions supporting Democratic candidates. Not sure how Obama can share of any of the blame yet, though.

 

[ishtat]

Chapter 11 might not be a bad option for GM. It would enable them to reorganise many things which would be untouchable should they continue with just more cheap loans. It wouldn't be good for workers though because the first thing to be cut adrift under Chapter 11 would be the current pension liabilities.

 

[JAMESBJOHNSON]

BOOTA

Exactly!

Bush isnt loved anyway, the GOP is tossed out, so why not take some folks with them?

I dont know if I want to live in a world without Cadillacs.

ISHTAT

Even during the Great Depression GMs stock was okay and they never came close to closing.

The problem is, as I understand it, GM has as many retirees as active workers, and the retirees make almost as much in pension/benefits as the active workers.

 

[dr_mabeuse]

GM stock is at $3 a share.

At those prices you can paper your crapper.

 

[JAMESBJOHNSON]

DOC

In 1929-30 GM was about $15 a share.

1946 was a bad year for GM because war production stopped in late 1945 and no cars were made, either. So they spent most of 1946 re-tooling for the 47' models. The stock fell to about $3 then, but the cause was temporary.

In fact, there were plenty of car companies around during the Depression. 1932 was a great year for all kinds of cars.