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Thread: TARP Audit Questions Rush to Close Auto Dealers

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by justabubba View Post
    companies cannot file chapter 13. that is the provision in bankruptcy law for WAGE EARNERS
    compaies can file under chapter 7 to liquidate and go out of business or they can file under chapter 11, and attempt to work out of their problems. the latter option was chosen and it appears to have been a wise choice
    now, what is it you think Obama should have done differently regarding the automakers' situation
    Obama did not want the companies to file chapter 11 because it would have hurt the unions. This was more about the unions for Obama then it was the car companies

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by justabubba View Post
    companies cannot file chapter 13. that is the provision in bankruptcy law for WAGE EARNERS
    compaies can file under chapter 7 to liquidate and go out of business or they can file under chapter 11, and attempt to work out of their problems. the latter option was chosen and it appears to have been a wise choice
    now, what is it you think Obama should have done differently regarding the automakers' situation
    Thanks for the correction.

    Obama should not have bailed out the car company's.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Ockham View Post
    Thanks for the correction.

    Obama should not have bailed out the car company's.
    so, then you do agree with the decision to allow those economically inefficient dealerships to have been closed ... getting back to the thread subject?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by justabubba View Post
    so, then you do agree with the decision to allow those economically inefficient dealerships to have been closed ... getting back to the thread subject?
    He should have let the entire company close, as would have been done with the banks. Definately a harder pill to swallow and yes, it would hurt more in the short term. Long term it would have righted the system and let company's and banks know they are not too big to fail. Instead, we have an extended recession - with a possibility of a double dip - company's and banks owned by the Federal Government - bailed out with billions in taxpayer money.

    What I'm questioning in this case is what the effects are of closing these dealerships pre-emptively. Was this for Chrysler and GM to keep more for the executives when they knew they'd be going through Chapter 11 - or - was the motive really protecting the company? Again, I go back to closing these dealerships add to the joblessness --- but since they were getting bailed out, why not keep most of these dealerships open and only close the one's that were in real trouble and as was identified - would have closed anyway?
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Ockham View Post
    He should have let the entire company close, as would have been done with the banks. Definately a harder pill to swallow and yes, it would hurt more in the short term. Long term it would have righted the system and let company's and banks know they are not too big to fail. Instead, we have an extended recession - with a possibility of a double dip - company's and banks owned by the Federal Government - bailed out with billions in taxpayer money.

    What I'm questioning in this case is what the effects are of closing these dealerships pre-emptively. Was this for Chrysler and GM to keep more for the executives when they knew they'd be going through Chapter 11 - or - was the motive really protecting the company? Again, I go back to closing these dealerships add to the joblessness --- but since they were getting bailed out, why not keep most of these dealerships open and only close the one's that were in real trouble and as was identified - would have closed anyway?
    ok, then identify for us the ones which were closed prematurely ... and which would have remained economically viable dealerships but for the lack of automaker support. it seems you want to have a reason to complain but don't ... only you complain anyway
    we are negotiating about dividing a pizza and in the meantime israel is eating it
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Ockham View Post
    He should have let the entire company close, as would have been done with the banks. Definately a harder pill to swallow and yes, it would hurt more in the short term. Long term it would have righted the system and let company's and banks know they are not too big to fail. Instead, we have an extended recession - with a possibility of a double dip - company's and banks owned by the Federal Government - bailed out with billions in taxpayer money.

    What I'm questioning in this case is what the effects are of closing these dealerships pre-emptively. Was this for Chrysler and GM to keep more for the executives when they knew they'd be going through Chapter 11 - or - was the motive really protecting the company? Again, I go back to closing these dealerships add to the joblessness --- but since they were getting bailed out, why not keep most of these dealerships open and only close the one's that were in real trouble and as was identified - would have closed anyway?
    Closing the dealerships in bankrupcty saved the company money. During bankrupcty a company can break contract without financial penalty. Had GM waited untill it exited bankruptcy it would cost GM a large amount of money to close them. As such it made financial sense to close them at that time as to ensure GM becomes a profitable enterprise in the future. At less cost to the government
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by justabubba View Post
    ok, then identify for us the ones which were closed prematurely ... and which would have remained economically viable dealerships but for the lack of automaker support. it seems you want to have a reason to complain but don't ... only you complain anyway
    So provide me the complete list of both GM and Chrysler locations which were identified to close --- all 3,000 or so, I'd I'll tell you which one's I would have closed. I know of no published list but since you want me to identify for "us" which one's were closed prematurely - I need to entire list. Or... you can continue to make requests that cannot be fulfilled --- but hey, get me the entire list and I'll give you my take and rationale.

    Remember we discussed this a few posts back? Asking questions does not equate compaining.

    You've asked questions of me, I've answered them honestly. Now you're back on about me complaining...
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Lord Tammerlain View Post
    Closing the dealerships in bankrupcty saved the company money. During bankrupcty a company can break contract without financial penalty. Had GM waited untill it exited bankruptcy it would cost GM a large amount of money to close them. As such it made financial sense to close them at that time as to ensure GM becomes a profitable enterprise in the future. At less cost to the government
    So basically what you're saying is GM and Chrysler decided to keep the money and get rid of the employees as it was financially better for them, their profits and the executives. Right?
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Ockham View Post
    So basically what you're saying is GM and Chrysler decided to keep the money and get rid of the employees as it was financially better for them, their profits and the executives. Right?

    GM got rid of employees at manufacturing plants, laid off salaried employee's, closed plants, the closure of dealerships was one part of the plan to return GM to becoming a profitable enterprise that would be capable of being an ongoing operation. For the benifit of dealerships that remain open, employee's that remain, pensioners, and the taxpayer
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Ockham View Post
    So provide me the complete list of both GM and Chrysler locations which were identified to close --- all 3,000 or so, I'd I'll tell you which one's I would have closed. I know of no published list but since you want me to identify for "us" which one's were closed prematurely - I need to entire list. Or... you can continue to make requests that cannot be fulfilled --- but hey, get me the entire list and I'll give you my take and rationale.

    Remember we discussed this a few posts back? Asking questions does not equate compaining.

    You've asked questions of me, I've answered them honestly. Now you're back on about me complaining...
    you seem to have forgotten that you moved away from merely asking questions to posting inane opinion. here, let me show you your own words:
    Quote Originally Posted by Ockham View Post
    He should have let the entire company close, as would have been done with the banks. Definately a harder pill to swallow and yes, it would hurt more in the short term. Long term it would have righted the system and let company's and banks know they are not too big to fail. Instead, we have an extended recession - with a possibility of a double dip - company's and banks owned by the Federal Government - bailed out with billions in taxpayer money. What I'm questioning in this case is what the effects are of closing these dealerships pre-emptively. Was this for Chrysler and GM to keep more for the executives when they knew they'd be going through Chapter 11 - or - was the motive really protecting the company? Again, I go back to closing these dealerships add to the joblessness --- but since they were getting bailed out, why not keep most of these dealerships open and only close the one's that were in real trouble and as was identified - would have closed anyway?
    notice how you argue that (1) the government should have allowed the automakers (and the banks) to fail, putting all employees out of work ... while simultaneously complaining that unprofitable dealerships should have been propped up with government dollars to preserve dealership jobs
    i can only conclude that you haven't the foggiest notion about what you are complaining about
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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