GM Bailout just keeps getting better

Hyundai recently ran an ad about how it added some 95,000(!?) It must've been 9,500 American employees, building Hyundais.

AM General is back in the Hummer business again, although because of the deal with GM, they can't call them "Hummers" and they have to sell them as a kit car, where the buyer supplies the powertrain.

A couple firms wanted to buy Hummer and Pontiac but GM refused to sell the brands. I forget the official reason but I think it was either that they didn't want competition or they didn't want someone to show that it was possible for a non retarded company to make good money off them.

But wait I thought Alphaman and Chris told us all was right in the world with GM stock! That the government wouldn't lose money?

$40 billion dollars could buy a lot of food stamps.

And you know what the worst of it is?

GM and Chrysler are still sinking ships. Both will be gone within a decade as they finally get run into the ground.

I just read an article where they are ramping up production of Big trucks again. I figure its just a matter of time before gas hits the roof again and they are asking for another bailout.

Well our company buys a lot of big trucks every year, and we wouldn't touch a GM truck with a ten foot pole.

We've been buying Fords for 5 years now, and will continue to do so into the future.

Around 30 brand new F-150s every 6 months, and 50 new F-350s every 12 months. No reason to switch. GM is an inferior product.

Man, I can't wait to see how those who hammered Obama about the auto bailouts go after Trump on this!

'course, there shouldn't even *be* a farm bailout because there shouldn't be tariffs for no reason in the first place.

I’m surprised that this thread didn’t get bumped because GM cancelled the health insurance of striking workers.

https://www.nashvillepublicradio.org/post/gm-cuts-health-insurance-uaw-strikers-spring-hill#stream/

I just wanna say that no company should get a bailout.

But Lenny, you will have saved the jobs of millions of registered voters!

Bailout money should have went to the workers in compensation packages and retraining. The CEO's shouldn't have got anything except a kick in the ass. But we tend to do things backwards: Reward the bad guys and spit on the bystanders.

but what about the rabbits, George?

That cant be legal...
Kroger is facing a possible strike in the Fred Meyer and QFC divisions, possibly in the Ralphs and Food 4 Less divisions too, and they're sure as hell not going to be yanking insurance if the union green lights it.

GM did not "cancel" the health care programs for the striking workers. Instead. payment for the existing program shifted from GM to the Union's strike benefits fund.

All of the striking workers still have health coverage.

Which is itself a pretty shitty move.

Supposedly this is what the existing union contract allows to happen. It was agreed to by both sides during negotiations.

It's exactly what was supposed to happen. It was part of the Union contract.

Thank you for the clarification.

Probably, but if it was contractually agreed to, GM's at least holding to the contract.

Consider me stunned.

Obviously we're seeing a cultural bias here in how we view labour relations but AFAIC striking workers are still employed and thus should still enjoy all of the benefits that entails. The idea of losing a work related benefit or having it in any way reduced, sidelined or transferred away from the employer in the event of a legally recognised industrial action is, to me, punitive and runs counter to the concept of union activity being a way of protecting ones' rights as an employee.

This. Same goes for the housing crisis.

Yay, we see how too big to fail works. Wouldn't it have been mucvh more effective for us to have given the billions of dollars we gave in the bail out to the unemployed workers to do what they had to do? How did we make things better by letting the rich have the tax money these people put into the government to help them? Instead of bailing out GM we could have put food on these people's table's and shelter over their heads and tried to find something for them to do. But no, we needed to give tax money to the shareholders.

Yup, and socialism is the evil thing. Socialism is the killer and destroyer of lives.

I am really at the point where I truly believe the right needs to be starved and killed off by their own ignorance. People like @Dayton Kitchens , @Tuttle ,and @Paladin really just need to be left in the collapse of their scam. We should torch them and evolve.

Oh, but that isn't nice to stupid.

Exactly.

Now GM is going to pay for the striking workers' health care benefits again.

https://abcnews.go.com/US/wireStory/gm-reverses-strikers-health-coverage-65879319

Thomas Cook disagrees!

(That's one for Euro- and Britforge to understand )

Let's check in now that there are three years of that decade left:



Chrysler is now part of Fiat Chrysler so it's not as easy to compare them from 2012 to today, but here's the performance since that happened:

I see Zombie was as spot on as we expected him to be.

Sorry, don’t know who that is.

https://www.cnn.com/2019/09/22/business/thomas-cook-collapse/index.html

I didn't know there was a real "Tommy's Holiday Camp". (That's one for Classic Rock Dinosaurs to understand)