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Thread: GM, Chrysler Get Ultimatum From Obama on Turnaround

  1. #11
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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    I honestly don't see how this whole thing isn't going to turn into a gigantic cluster**** and this is coming from someone who even voted for Obama. I'm trying to remain optimistic, but seeing the current administration strong-arming a corporation into getting rid of their CEO is rather disconcerting.

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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    Quote Originally Posted by dclxvinoise View Post
    I honestly don't see how this whole thing isn't going to turn into a gigantic cluster**** and this is coming from someone who even voted for Obama. I'm trying to remain optimistic, but seeing the current administration strong-arming a corporation into getting rid of their CEO is rather disconcerting.
    Lot of hyperbole being thrown around in this thread. The administration simply stated that as a condition of additional government assistance, the CEO would have to step down.

    How is that any different then say if Warren Buffet bailed them out and made the same condition? If GM wanted to keep the guy, they could have just declined additional assistance.
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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    Quote Originally Posted by SouthernDemocrat View Post
    Lot of hyperbole being thrown around in this thread. The administration simply stated that as a condition of additional government assistance, the CEO would have to step down.
    And how is that not strong-arming?

    How is that any different then say if Warren Buffet bailed them out and made the same condition? If GM wanted to keep the guy, they could have just declined additional assistance.
    They shouldn't even be giving these companies assistance in the first place. That's my point.

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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    Quote Originally Posted by dclxvinoise View Post
    I honestly don't see how this whole thing isn't going to turn into a gigantic cluster**** and this is coming from someone who even voted for Obama. I'm trying to remain optimistic, but seeing the current administration strong-arming a corporation into getting rid of their CEO is rather disconcerting.
    I agree with you about the cluster****! I'm just about speechless! This type of government involvement isn't right on ANY level.

    I've been against bailouts of any kind from the beginning because I believe nothing good ever comes from taking a hand-out. It's a position that I've not had to defend even once since all of the blowback started.

    Oh well, tomorrow is another day.......
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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    It is one thing to support in some manner private companies it is another thing entirely to be pseudo-nationalizing them like this.

    Its inherently un-American.

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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    This seems the lesser of two evils in my mind. I think it would have been much worse to have given all that bailout money to the auto industry without insisting they get their crap together as well. Then Obama would have been seen as pandering to humongous crappy industries and utterly spineless and ineffectual.

    I would have been extremely disappointed if Obama had not done something like this.

  7. #17
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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    Quote Originally Posted by dclxvinoise View Post
    And how is that not strong-arming?



    They shouldn't even be giving these companies assistance in the first place. That's my point.
    Thats all well and good. However, if your giving someone a ton of money, it's certainly not inappropriate to attach some conditions to it.
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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    GM and Chrysler have no right to complain, they are failed businesses who shouldn't even still exist. The government has every right to dictate the terms under which they will give money, just like any investor does. Its a valid question whether money should be given at all, but if it is, its perfectly appropriate to create requirements for a bailout.

  9. #19
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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    Quote Originally Posted by SouthernDemocrat View Post
    Thats all well and good. However, if your giving someone a ton of money, it's certainly not inappropriate to attach some conditions to it.
    Except when it's the government giving money to private companies which they shouldn't be doing in the first place.

  10. #20
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    Re: GM, Chrysler Get Ultimatum From Obama on Turnaround

    I'm not really seeing this as a big deal.

    1) So they conditioned the provision of further funds on this CEO leaving. Big deal. This happens all the time with all sorts of conditions. Who's running AIG right now? What happened to Greenberg?

    2) Nothing about this is even remotely unconstitutional, unless you want to complain about Wickard v. Filburn, in which case take it to one of the 500 threads where we've argued about that.

    3) Not sure how it's at all analogous to wiretapping (which I thought was okay too, fwiw).

    4) Not sure how this is a handout to the unions, when it's they and their retirees who will be taking the biggest hit (if I'm reading this correctly).

    5) I'm glad that we're not needlessly bailing out Chrysler anymore. If Cerberus doesn't think it's worth saving, we shouldn't either.

    6) If you can't express your opposition to this proposal without resorting to racism, that sounds like a personal shortcoming.
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