Justice Ginsberg
- Thread starter PILOTJPW1
- Start date
Was a stay issued?
Pilot,
Did Ginsburg stay the sale? I've read nothing about her decision yet. If contract law means anything the bond holders will prevail here. A stay will affect the GM bankruptcy as well. A mess indeed.
Chip
Pilot,
Did Ginsburg stay the sale? I've read nothing about her decision yet. If contract law means anything the bond holders will prevail here. A stay will affect the GM bankruptcy as well. A mess indeed.
Chip
The Bond holders are the real losers in this mess. I predict the ultimate loser of gigantic proportion will be the UAW, unless of course someone votes and passes an amendment to the constitution first.
A mess, yes! I feel empathy to every person that have and will end up loosing their job and the ability to provide to their family.
I feel absolutely no pity to the UAW and anything it represents. I hope this is the end of the UAW and every other crooked union in the Nation.
A mess, yes! I feel empathy to every person that have and will end up loosing their job and the ability to provide to their family.
I feel absolutely no pity to the UAW and anything it represents. I hope this is the end of the UAW and every other crooked union in the Nation.
S592R
GT Owner
- Dec 3, 2006
- 2,800
hopefully this will be the end of governmental sanctioned, endorsed, and ram rodded restructuring and bailouts. IE get the politicians out of the financial services industry. The speed in which these companies have progressed to and through bankruptcy is shocking to say the least.
I have yet to see a reasonable argument where the UAW's claim would be superior to a bondholders claim. I sympathize with the workers in this situation and the sacrifices that may be needed. But collectively each extra thing that someone adds to the pack that a company must carry only weighs it down. Years of poor decision making in Detroit coupled with special interest concerns and lobbying in DC only led this industry into the mess that it is in. No industry is immune from the problems that face GM and Chrysler .. yet they seem to want special treatment. Yes I realize that the industry is large and employs a large group of people but "fast tracking" anything is never a good idea and when the BOZOs in DC decided to tack on deadlines in an attempt to strong arm bondholder, wipe out investors and punish vendors it only began this recipe for disaster.
At the end of the day the deal with FIAT will go through but likely for a few more shekels than originally discussed and for a bit more political favoring to be solicitated. In the future any company that even asks for governmental help will be sold from my holdings and the company banned from my purchases either in product or shares. I am entirely frustrated that FORD has to compete on an uneven field due to governmental financing and the only honorable and forsighted American Automaker will likely have to pay a higher bill than the other two due to proper management direction that they had in early 2006. Its like circling the group singing CUM BY YAH and telling everyone they are a winner over at GM and Chrysler ... while Ford has to do the hard work.
I guess in DC they still think it takes a village to raise a child and have added it takes government to build a car.
Sorry for the tone ... but this stinks like fresh crap on the bottom of my boot.... and its as equally difficult to wipe off. Why can't people look down when they walk through a cow pasture and have the common sense not to step in it in the first place?
I have yet to see a reasonable argument where the UAW's claim would be superior to a bondholders claim. I sympathize with the workers in this situation and the sacrifices that may be needed. But collectively each extra thing that someone adds to the pack that a company must carry only weighs it down. Years of poor decision making in Detroit coupled with special interest concerns and lobbying in DC only led this industry into the mess that it is in. No industry is immune from the problems that face GM and Chrysler .. yet they seem to want special treatment. Yes I realize that the industry is large and employs a large group of people but "fast tracking" anything is never a good idea and when the BOZOs in DC decided to tack on deadlines in an attempt to strong arm bondholder, wipe out investors and punish vendors it only began this recipe for disaster.
At the end of the day the deal with FIAT will go through but likely for a few more shekels than originally discussed and for a bit more political favoring to be solicitated. In the future any company that even asks for governmental help will be sold from my holdings and the company banned from my purchases either in product or shares. I am entirely frustrated that FORD has to compete on an uneven field due to governmental financing and the only honorable and forsighted American Automaker will likely have to pay a higher bill than the other two due to proper management direction that they had in early 2006. Its like circling the group singing CUM BY YAH and telling everyone they are a winner over at GM and Chrysler ... while Ford has to do the hard work.
I guess in DC they still think it takes a village to raise a child and have added it takes government to build a car.
Sorry for the tone ... but this stinks like fresh crap on the bottom of my boot.... and its as equally difficult to wipe off. Why can't people look down when they walk through a cow pasture and have the common sense not to step in it in the first place?
I dunno...since yer th' guy with the "fresh crap" on yer boot, please advise! :biggrin
(I'm NOT gunna answer my cell phone, '92! :tongue :lol)
S592R
GT Owner
- Dec 3, 2006
- 2,800
Pluses and minuses.
Gentlemen,
According to yesterday's Wall Street Journal, Ford Motor Credit must now deal with a cost of funds over three times higher than GMAC's government guaranteed cost of funds. (8% vs 2.5%) All governmental distortions in the marketplace result in the sting of unintended consequences.
According to recent sales results and market share however, this current circumstance has bestowed upon Ford something that the government cannot grant to GM or Chrysler......the goodwill of America's car buyers. GMAC's beneficial but artificially low cost of funds carries with it the stigma of dependency and a boycott by 24% of American car buyers according to that same Wall Street Journal article.
Chip
Gentlemen,
According to yesterday's Wall Street Journal, Ford Motor Credit must now deal with a cost of funds over three times higher than GMAC's government guaranteed cost of funds. (8% vs 2.5%) All governmental distortions in the marketplace result in the sting of unintended consequences.
According to recent sales results and market share however, this current circumstance has bestowed upon Ford something that the government cannot grant to GM or Chrysler......the goodwill of America's car buyers. GMAC's beneficial but artificially low cost of funds carries with it the stigma of dependency and a boycott by 24% of American car buyers according to that same Wall Street Journal article.
Chip
CH53Driver
Shelby GT500 owner
And to think I was considering a Camaro or Challenger. A Grabber Blue GT with the 5.0 is sounding very nice right now.
USA for sale CHEAP
Well, Less than 24 hrs later. It sounds as supreme court has approved sale and totally thrown out all the bondholders. Now the lawsuits will fly to no avail I suspect.
So much for the safe and secure bond holders.
As I am in my 40's and never purchased any bonds directly, I will surely remember how this panned out. Certificates of deposit for me or american based stocks.
Oh yea the 789 Independent dealers also got told to f$$$ off and their franchise agreements and state laws don't mean shi$.:bs
Tough times are ahead for all of us. This country still does not realize the impact of the auto industry and dealers in all of our local economies.
I pin this one on the Administration for sure. And I am a person who had some Hopes for Obama.:frown
Well, Less than 24 hrs later. It sounds as supreme court has approved sale and totally thrown out all the bondholders. Now the lawsuits will fly to no avail I suspect.
So much for the safe and secure bond holders.
As I am in my 40's and never purchased any bonds directly, I will surely remember how this panned out. Certificates of deposit for me or american based stocks.
Oh yea the 789 Independent dealers also got told to f$$$ off and their franchise agreements and state laws don't mean shi$.:bs
Tough times are ahead for all of us. This country still does not realize the impact of the auto industry and dealers in all of our local economies.
I pin this one on the Administration for sure. And I am a person who had some Hopes for Obama.:frown
Total disappointment in the result of the Supreme Court. They had a perfect opportunity to find the current disposition violated the constitutional protections of the investors. Sad day at the court.