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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 ptif219 View Post
    Bankruptcy would have allowed re-negotiation of contracts. Obama stopped this because it would have hurt the unions.

    Chrysler has been in trouble for years but kept running
    Yes, Chrysler which was dumped by MB, dumped by Ceribus(sp), and now is in the hands of Fiat
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by ptif219 View Post
    Bankruptcy would have allowed re-negotiation of contracts. Obama stopped this because it would have hurt the unions.

    Chrysler has been in trouble for years but kept running
    so, are you wanting us to believe that with the bailout there was no bankruptcy and no re-negotiation of the union contracts?
    you seem to be going in circles
    the contracts were renegotiated
    bankruptcy was filed
    despite the bailout
    so, tell us what Obama did which was wrong and why you find his actions to have been wrong
    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, are you wanting us to believe that with the bailout there was no bankruptcy and no re-negotiation of the union contracts?
    you seem to be going in circles
    the contracts were renegotiated
    bankruptcy was filed
    despite the bailout
    so, tell us what Obama did which was wrong and why you find his actions to have been wrong
    Correct Obama wrote the bankruptcy plan and the court approved it. It was a prepackaged bankruptcy.

    Obama: Government control over GM to be short-term Homepage The Daily Item, Sunbury, PA

    In a defining moment for American capitalism, President Barack Obama ushered General Motors Corp. into bankruptcy protection Monday and put the government behind the wheel of the company that once symbolized the nation's economic muscle.



    The fallen giant, the largest U.S. industrial company ever to enter bankruptcy, is shedding some 21,000 jobs and 2,600 dealers. Sparing few communities, the retrenchment amounts to one-third of its work force and 40 percent of its dealerships.



    "We are acting as reluctant shareholders because that is the only way to help GM succeed," Obama said of the temporary nationalization of the 100-year-old company.



    Obama lauded what he called a "viable, achievable plan that will give this iconic American company a chance to rise again" as GM followed Chrysler LLC into bankruptcy court. Of Detroit's three automakers, only Ford Motor Corp. has avoided bankruptcy restructuring and has not taken federal bailout money.



    The prepackaged GM bankruptcy deal — crafted by the administration, the company, the United Auto Workers union and a group of bondholders — would give the U.S. government a 60 percent controlling stake in what was once the world's largest automaker. An additional 12.5 percent would be under Canadian government ownership.

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    ok, which is it?
    here, you insist Obama stopped the bankruptcy/re-negotiation of union contracts:
    Quote Originally Posted by ptif219 View Post
    Bankruptcy would have allowed re-negotiation of contracts. Obama stopped this because it would have hurt the unions.

    Chrysler has been in trouble for years but kept running
    while here, you insist Obama was the one who crafted the bankruptcy plan:
    Quote Originally Posted by ptif219 View Post
    Correct Obama wrote the bankruptcy plan and the court approved it. It was a prepackaged bankruptcy.

    Obama: Government control over GM to be short-term Homepage The Daily Item, Sunbury, PA

    In a defining moment for American capitalism, President Barack Obama ushered General Motors Corp. into bankruptcy protection Monday and put the government behind the wheel of the company that once symbolized the nation's economic muscle.



    The fallen giant, the largest U.S. industrial company ever to enter bankruptcy, is shedding some 21,000 jobs and 2,600 dealers. Sparing few communities, the retrenchment amounts to one-third of its work force and 40 percent of its dealerships.



    "We are acting as reluctant shareholders because that is the only way to help GM succeed," Obama said of the temporary nationalization of the 100-year-old company.



    Obama lauded what he called a "viable, achievable plan that will give this iconic American company a chance to rise again" as GM followed Chrysler LLC into bankruptcy court. Of Detroit's three automakers, only Ford Motor Corp. has avoided bankruptcy restructuring and has not taken federal bailout money.



    The prepackaged GM bankruptcy deal crafted by the administration, the company, the United Auto Workers union and a group of bondholders would give the U.S. government a 60 percent controlling stake in what was once the world's largest automaker. An additional 12.5 percent would be under Canadian government ownership
    .
    so, which of your statements should we now assume is your actual opinion regarding the automakers' bankruptcies?
    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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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by justabubba View Post
    ok, which is it?
    here, you insist Obama stopped the bankruptcy/re-negotiation of union contracts:


    while here, you insist Obama was the one who crafted the bankruptcy plan:


    so, which of your statements should we now assume is your actual opinion regarding the automakers' bankruptcies?
    One in the same Obama did not let the courts do a bankruptcy Obama controlled all aspects of it to save the unions and take control of GM

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by ptif219 View Post
    GM would have went bankruptcy and restructured and still be doing well. Chrysler has been struggling for many years and are still in business. Obama only saved the unions which what his goal was
    And where would the debtor-in-possession financing have come from? Early 2008 was not exactly a great time to have secured $50B to finance the restructuring of a troubled company. Sorry, its complete fantasy to think the only difference was the state of the unions post bankruptcy.

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by ptif219 View Post
    One in the same Obama did not let the courts do a bankruptcy Obama controlled all aspects of it to save the unions and take control of GM
    read this and notice the GM bankruptcy filing in federal bankruptcy court
    General Motors' Bankruptcy Petition
    it has become abundantly clear that you have no idea about what you post
    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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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by upsideguy View Post
    And where would the debtor-in-possession financing have come from? Early 2008 was not exactly a great time to have secured $50B to finance the restructuring of a troubled company. Sorry, its complete fantasy to think the only difference was the state of the unions post bankruptcy.
    Why did it have to be 50 billion.?

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by justabubba View Post
    read this and notice the GM bankruptcy filing in federal bankruptcy court
    General Motors' Bankruptcy Petition
    it has become abundantly clear that you have no idea about what you post
    It was Obama's prepackaged bankruptcy plan.

    Obama: GM Has "Chance To Rise Again" - CBS News

    In a defining moment for American capitalism, President Barack Obama ushered General Motors Corp. into bankruptcy protection Monday and put the government behind the wheel of the company that once symbolized the nation's economic muscle.

    The fallen giant, the largest U.S. industrial company ever to enter bankruptcy, is shedding some 21,000 jobs and 2,600 dealers. Sparing few communities, the retrenchment amounts to one-third of its work force and 40 percent of its dealerships.

    "We are acting as reluctant shareholders because that is the only way to help GM succeed," Mr. Obama said of the temporary nationalization of the 100-year-old company.

    Obama lauded what he called a "viable, achievable plan that will give this iconic American company a chance to rise again" as GM followed Chrysler LLC into bankruptcy court. Of Detroit's "Big Three" automakers, only Ford Motor Corp. has avoided bankruptcy restructuring and has not taken federal bailout money.

    The prepackaged GM bankruptcy deal - crafted by the administration, the company, the United Auto Workers union and a group of bondholders - would give the U.S. government a 60 percent controlling stake in what was once the world's largest automaker. An additional 12.5 percent would be under Canadian government ownership.

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by ptif219 View Post
    It was Obama's prepackaged bankruptcy plan.

    Obama: GM Has "Chance To Rise Again" - CBS News

    In a defining moment for American capitalism, President Barack Obama ushered General Motors Corp. into bankruptcy protection Monday and put the government behind the wheel of the company that once symbolized the nation's economic muscle.

    The fallen giant, the largest U.S. industrial company ever to enter bankruptcy, is shedding some 21,000 jobs and 2,600 dealers. Sparing few communities, the retrenchment amounts to one-third of its work force and 40 percent of its dealerships.

    "We are acting as reluctant shareholders because that is the only way to help GM succeed," Mr. Obama said of the temporary nationalization of the 100-year-old company.

    Obama lauded what he called a "viable, achievable plan that will give this iconic American company a chance to rise again" as GM followed Chrysler LLC into bankruptcy court. Of Detroit's "Big Three" automakers, only Ford Motor Corp. has avoided bankruptcy restructuring and has not taken federal bailout money.

    The prepackaged GM bankruptcy deal - crafted by the administration, the company, the United Auto Workers union and a group of bondholders - would give the U.S. government a 60 percent controlling stake in what was once the world's largest automaker. An additional 12.5 percent would be under Canadian government ownership.
    let's see what you stated before:
    Quote Originally Posted by ptif219 View Post
    One in the same Obama did not let the courts do a bankruptcy Obama controlled all aspects of it to save the unions and take control of GM
    notice that bankruptcy WAS filed in the federal bankruptcy court
    i even provided you the cite with a copy of the petition
    again, you have no idea about that which you post
    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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