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Does the U.S. government allow GM to go bankrupt?

Discussion in 'BBS Hangout: Debate & Discussion' started by robbie380, Nov 7, 2008.

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Select 2...Will the U.S. allow GM to go bankrupt? and should they allow it?

  1. Yes, they will ALLOW a GM bankruptcy

    24 vote(s)
    17.1%
  2. No, they will NOT ALLOW a GM bankruptcy

    74 vote(s)
    52.9%
  3. Yes, they should ALLOW a GM bankruptcy

    83 vote(s)
    59.3%
  4. Yes, they should NOT ALLOW a GM bankruptcy

    12 vote(s)
    8.6%
Multiple votes are allowed.
  1. juicystream

    juicystream Member

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    A whole new set of problems there. We already have medicaid for retired people and the government doesn't manage it very well.

    Lifetime benefits are difficult to deal with. People live a lot longer than they expected.
     
  2. rhadamanthus

    rhadamanthus Member

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    I agree with MB. One of the most understated benefits of universal healthcare is how much it will save companies. GM is an extreme example. They pay an absurd amount.
     
  3. JuanValdez

    JuanValdez Member

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    You're right and I probably haven't been giving the bankruptcy process enough nuance. Bankruptcy may be good for the long-term health of the company and they might not die. Regardless, I'm prepared to let them enter the process and see if they can get better or just be shuttered. I don't believe that they should get any special treatment to dodge bankruptcy.
     
  4. Master Baiter

    Master Baiter Member

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    I never said medicaid works or that it is the way to go. We need a complete overhaul of healthcare distribution and it does not include anything like Medicaid or Medicare. I have faith that there are people in the US that can look at all of the universal healthcare systems that exist around the world and then put together something that works. The biggest hurdle that I see are idiot Americans that can't get over this idea that all social programs are bad. These ideas, of course, are fueled by propoganda from the people and companies that stand to lose a lot of money since it would end their racket on healthcare.
     
  5. juicystream

    juicystream Member

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    The companies and us would just pay it in tax dollars. It wouldn't save money. You would just now be forced to pay for it.
     
  6. Master Baiter

    Master Baiter Member

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    Everyone pays for it regardless if you have insurance or not. The US spends more per capita and a higher % of our GDP than any other country in the world yet we have horrible healthcare and a horrible % of people that are not covered.
     
  7. rhester

    rhester Member

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    The bank bailout is going to prove to be a failure unless you are a bank employee.

    Same goes for GM-

    A fair system would help straighten out our thinking-

    Suppose every adult in the country with a ss card was taxed equally- exact same %.

    Then let's stop borrowing money and mandate that before the govt. spends for a bailout or anything else, there would first have to be an equivalent increase in the tax % to pay for it.

    You know live within your means- that is too complicated for politics.

    I would be very fine with that knowing that every single person was paying the same fair share and no money was being borrowed. I wouldn't mind having all the universal healthcare and bailouts in the world if it was handled fairly and honestly.

    Anyone who is unemployed would have the same % of tax deducted from their ui benefits.

    Tax everyone- the same %

    That way we could find out if we can afford to spend the money govt. spends and we can find out if we can afford to tax the way govt. taxes.

    All the citizens would want to get the numbers right.

    Then I would propose a donation fund be set up on each tax return for citizens to contribute to help the unemployed. This fund would provide additional assistance to those unemployed after their federal or state benefits were exhausted. Then we would see how much people really want to help those who lose their jobs.
     
  8. rhadamanthus

    rhadamanthus Member

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    I'd wager it would be a lot cheaper.
     
  9. ghettocheeze

    ghettocheeze Member

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    Enough with these bailouts already. Have we become a nation so afraid of our corporations that we are willing to dish out billions in extortion demands? Yes I consider this extortion, GM wants help they should look at their unions for support or private investors if they truly believe they can survive and turn a profit. Their business model is a disaster and needs a re haul and no amount of funding can change that. We trying to revive these dying dinosaurs from the last century. American businesses in general are suffering from globalization where it is getting harder for our companies to compete but that doesn't mean we subsidize our industries in hopes of rescuing them from their ultimate fate. No we are Americans, the world's greatest innovators and we need bring fundamental changes in our companies to make them more competitive in today's world. If we continue down this path of bailouts then soon we will bankrupt our treasury and have no one left to bailout the government.
     
  10. Air Langhi

    Air Langhi Contributing Member

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    You already pay for it or your company pays for it. Insurance should theoretically work more efficiently with greater number of people. Also we could have the walmart effect and could demand lower prices, hospitals and big pharm would have no choice but to comply.
     
  11. rhester

    rhester Member

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    Last year $ 2.3 trillion was spent on healthcare. link
     
  12. juicystream

    juicystream Member

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    I am unisured although my employer is going to be paying for a policy for me. Lets quit derailing this thread though. We can start a new thread later. :)
     
  13. weslinder

    weslinder Member

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  14. glynch

    glynch Member

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    Wrong. It is much more efficient than private insurance. About 25% of every dollar given to private health insurance does not go to patient care.
    Less than 5% for Medicaid.
     
  15. tinman

    tinman 999999999
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    So if we bail them out, then what?
    do people buy cars cause they feel sorry for the company? no.

    GM and Ford have had issues for so long, the writing has been on the wall for them to make better cars and make the company more efficient.

    I read somewhere that a Honda plant can crank out a bunch of different cars at the same plant, while GM/Ford has specific plants for specific vehicles.

    What idiots.

    GM

    buick - cars for old people, but they get tiger woods to do the promos (idiots)
    cadillac -luxury cars/trucks
    gmac -trucks (but you can get the same trucks at chevy, pointless brand)
    chevy - car/trucks for everyone
    pontiac -cars for the young fast crowd
    saturn -cars for the young crowd (redundant brand)

    Toyota
    Scion-cars for young people
    Lexus-cars for rich people
    Toyota-cars for everyone

    GM has to get rid of the GMAC and Buick Brands cause nobody buys them and they can get the exact same cars at Chevy
     
  16. fmullegun

    fmullegun Contributing Member

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    incorrect. You cannot use to much gas at one time and then have the whole tank explode.

    You do not know the dangers or costs associated with Li-Ion cells.
     
  17. fmullegun

    fmullegun Contributing Member

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    the problem is GM and Ford have to play by different rules with respect to their labor than does Honda and Toyota. That isn't their fault it is the governments fault for putting the rules on them of not allowing them to say FU to the unions.
     
  18. tinman

    tinman 999999999
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    Even if they fix those rules, that doesn't help their sales of redundant brands and the image of poor quality. with the exception of a few vehicles, no one will buy Ford or GM cars if they have a choice between Japanese and German cars. Nobody is going to buy a chevy Cavalier over a Honda Civic.
     
  19. B-Bob

    B-Bob "94-year-old self-described dreamer"
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    There is blame to share. I know someone who consulted for two years with GM, trying to help them clean up their basic business operation from an efficiency perspective.

    Here's an example: Toyota makes one or two side mirrors, and they apply these side mirrors to all their cars. GM makes a new side mirror design for each new car, each new model year. Efficiency FAIL. The list goes on and on, from the management, independent of the union.

    I agree some blame goes to the unions there, as they've also fought the idea of retooling, etc. And they've negotiated crippling compensation packages that are inflexible and unsustainable.
     
  20. fmullegun

    fmullegun Contributing Member

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    they do not make those crappy cars anymore. But your argument is invalid because when those were last made the Civic also costs much more.

    Comparing to a car in production the Ford Focus is also much cheaper than the Civic.

    Also the highest sticker price possible on a Focus is 17K where a premium civic is 24K.
     

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