Thread: Obama's take over of GM

This is unbelievable! Parts of GM are being "bought" by the government. The "restructuring" will be mandated by Obama if "talks" fail. Of course talks will fail. This is all about the unions keeping their contracts. Obama is in bed with the Unions.

CORRECTED - UPDATE 1-GM bankruptcy plan eyes quick sale to gov't | Deals | Mergers & Acquisitions | Reuters

....The government's plans include giving stakes in the new company to GM's union and bondholders, although the ownership structure of the company is still being negotiated, said the source who is familiar with the company's plans.....

....The board of the new company would be established with the tacit approval of the government. Fritz Henderson, who took the helm of GM earlier this year after the government pushed out Rick Wagoner, would likely head the new company, the source said.....

We're the losers in the end. Given the CAFE standards no one in their right mind is going to buy a GM product. They''ll basically wind up producing Yugo's with a thirty thousand dollar price tag.

The unions are eventually going to have their ass' handed to them when they realize no one is interested in buying their junk.

Are you people dense???? Do you not know what fascism is??? Do you not know what happened to this country???

lets put it this way ... I refuse to buy any car that the govt is the owner of or has controlling interest in the company...I will be damned if they dictate to me what I drive or where I buy from... I have also moved my banking to a small independant bank actully it is a local owned credit union..