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Thread: US Lost Ten Billion Dollars on GM Bailout

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    . . . and tires, and aircraft parts, and baggage handling equipment, and ground equipment, and aircraft, and . . . and . . . and . . .

    Try again.
    An airline doesn't produce a product, they don't need near the amount of supplies that an automobile manufacturer needs.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by pbrauer View Post
    An airline doesn't produce a product, they don't need near the amount of supplies that an automobile manufacturer needs.
    The principles are the same. GM would have been snapped up quickly and production lines likely would not have missed a beat.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by pbrauer View Post
    There is noway you can compare a manufacturing company (GM) with a
    service company (AA). GM was dependent upon numerous supplies (tires, breaks, radios, ete. etc) while AA was dependent upon jet fuel.
    LOL !!

    Yup....those 50 million dollar jets fly themselves, and clean themselves, repair themselves, BUILD themselves, serve peanuts to their passengers....themselves.

    They load themselves, inspect themsleves, fuel themselves and account for additional airtraffic by themselves.

    Their parts never need to be replaced and they can land anywhere.

    Yea, no comparison.....

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Fenton View Post
    LOL !!

    Yup....those 50 million dollar jets fly themselves, and clean themselves, repair themselves, BUILD themselves, serve peanuts to their passengers....themselves.

    They load themselves, inspect themsleves, fuel themselves and account for additional airtraffic by themselves.

    Their parts never need to be replaced and they can land anywhere.

    Yea, no comparison.....
    If the airlines built the jets, I would agree with you. But as a matter of fact they don't. Almost every part that goes into an automobile or truck must be supplied by some company. These parts are specific to and auto. Airlines use jets from the same manufacturer.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by pbrauer View Post
    If the airlines built the jets, I would agree with you. But as a matter of fact they don't. Almost every part that goes into an automobile or truck must be supplied by some company. These parts are specific to and auto. Airlines use jets from the same manufacturer.
    The aviation supply chain is considerably more complicated than that. Nonetheless it doesn't matter; AA is a large complex business whose situation is/was fully analogous to that of GM. You need to stop defending an indefensible position.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    The US lost $10 billion on the GM bailout. What do you think about that?
    The entire TARP program, which laid out $418 billion, only wound up losing $12 billion. What do you think about that?

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Visbek View Post
    The entire TARP program, which laid out $418 billion, only wound up losing $12 billion. What do you think about that?
    It happened. Probably politically unavoidable. I would have preferred good old fashioned bankruptcies.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Considering the probably costs of letting GM close, 11 billion is not bad

    The cost would be, increased medicare and Medicaid bills, welfare and UI payments not just to GM workers and retirees, but to dealership and suppliers as well
    not necessarily, that is only speculation on your part. The ending of poor ideas and management styles opens the doors to better ideas and business start ups.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    The aviation supply chain is considerably more complicated than that. Nonetheless it doesn't matter; AA is a large complex business whose situation is/was fully analogous to that of GM. You need to stop defending an indefensible position.
    Indefensible? Hardly according to Mark Zandi chief economist for Moodys

    Bailing out Detroit - Philly.com

    POSTED: February 26, 2012
    The government bailout of the U.S. auto industry was a success.

    Without financial help from Uncle Sam, General Motors and Chrysler likely would not exist today. The American auto industry would be a shadow of its former self. And the U.S. economic recovery would be even more drawn out and frustrating than it has been.

    Saving the automakers was distasteful, but necessary.

    Rehashing this bit of history is timely on the eve of the Republican primary in Michigan, where the economy has long been tethered to the auto industry. The potential GOP nominees have all spoken out against the bailout, which the Obama administration helped engineer. Yet it is worth remembering that when the bailout was being debated three years ago, in the teeth of the Great Recession, it had bipartisan support. And it was the Bush administration that provided the first substantial chunk of financial aid to the industry.

    [...]

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by pbrauer View Post
    Indefensible? Hardly according to Mark Zandi chief economist for Moodys

    Bailing out Detroit - Philly.com

    POSTED: February 26, 2012
    The government bailout of the U.S. auto industry was a success.

    Without financial help from Uncle Sam, General Motors and Chrysler likely would not exist today. The American auto industry would be a shadow of its former self. And the U.S. economic recovery would be even more drawn out and frustrating than it has been.

    Saving the automakers was distasteful, but necessary.

    Rehashing this bit of history is timely on the eve of the Republican primary in Michigan, where the economy has long been tethered to the auto industry. The potential GOP nominees have all spoken out against the bailout, which the Obama administration helped engineer. Yet it is worth remembering that when the bailout was being debated three years ago, in the teeth of the Great Recession, it had bipartisan support. And it was the Bush administration that provided the first substantial chunk of financial aid to the industry.

    [...]
    Moody's is linked to investors. Of course they want to avoid bankruptcy. Just protecting the BHO gang's financiers.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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