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Thread: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

  1. #11
    Matthew 16:3

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    Re: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

    Quote Originally Posted by P/N View Post
    Well, from this point forward, I will refer to him as President Goodwrench.
    President B. Hussein Goodwrench.

  2. #12
    Sage
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    Re: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

    Quote Originally Posted by P/N View Post
    Well, from this point forward, I will refer to him as President Goodwrench.
    Shouldn't that be President Monkeywrench?

  3. #13
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    Re: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

    Quote Originally Posted by Pitwolfy View Post
    It is NOT the place of government to save businesses from going under. Not when the government is writing checks WITH OTHER PEOPLES MONEY, ie YOURS, MINE! Now, the messiah wants to guarantee warranties with, guess what, OTHER PEOPLES MONEY !! When will it end?


    Anyone?


    Well, next they're going to subsidize the products those companies sell, because people won't be buying them, and I mean more than just subsidizing the warranty. Expect "tax credits" for wasting your money on a GM, for example.

  4. #14
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    Re: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

    Quote Originally Posted by obvious Child View Post
    If the goal is to keep GM and Chrysler alive, there really isn't another option. Solving the credit markets is likely going to take at least another six months to likely a year if not more. Neither firm will survive that long. Therefore, a structured bankruptcy is really the only path they have. But to alleviate the problem of warranties from a chapter 11 firm, this plan does seem like the only path available.

    If you don't like that plan, you're for chapter 7 of both firms.
    So what of the millions of existing warranty holders? If propping up the auto industry is so bloody important, why not stand behind those warranties as well?

    As it stands, if those outstanding warranties are not to be honored, then every GM car owner who needs warranty-able work will be forced to pay out of pocket; that's a magnificent incentive for that car owner's next vehicle (which will obviously be purchased sooner than otherwise anticipated) to be anything but one coming out of Detroit.

    This isn't a bailout, it's a torpedo.

    Why is the current occupant of the Oval Office so hostile to American companies? Why is he so determined to destroy them?

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    Matthew 16:3

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    Re: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

    Yesterday while discussing this, I was under the misguided impression that pre-existing warranties would be honored. That was the only reason I could even support the plan. Now that I know it doesn't, I am adamantly opposed to it. If people don't have confidence in GM, it's GM's own fault. Let 'em fail. If people buy a GM now, they are asking for issues in the future and deserve to have to deal with those issues.

  6. #16
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    Re: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

    Quote Originally Posted by celticlord View Post
    Shouldn't that be President Monkeywrench?
    Careful, you might be branded a racist with a comment like that.
    Pain can be such a beautiful thing

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    Re: Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

    Quote Originally Posted by GottaHurt View Post
    Careful, you might be branded a racist with a comment like that.
    I sincerely apologize to any who take offense at my remarks. I have nothing but the highest regard for monkeys. I certainly did not intend to impugn the great character and traditions of monkeys, nor was it my intent to imply that monkeys are Democrats.

    (Just don't ask me to say that to PETA....I'll never keep a straight face! )

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