new GM ownership

DCortez

TGT Addict
Jan 28, 2009
6,607
36
Houston, Cy-Fair
Did anyone catch the actual numbers? I heard something along 10 billion owed to the UAW will be exchanged for 39% ownership and 27 billion owed to bond holders for 10% ownership (can you believe that crap?).

Any info would be appreciated.
 

M. Sage

TGT Addict
Jan 21, 2009
16,326
36
San Antonio
Wow. If the UAW owns 39% of GM, things could get interesting. I see that going one of two ways:

UAW continues being commies and vote themselves even higher wages and better benefits, while lowering wages/bennies for the guys wearing the white shirts, meaning the company is run worse and turns out worse-designed product...

UAW realizes, now that they're responsible for cutting paychecks, that being commies isn't cool. I really don't see this one happening, the first is a lot more likely IMO.
 

DCortez

TGT Addict
Jan 28, 2009
6,607
36
Houston, Cy-Fair
The wife bought a new microwave a few weeks back. My son asked why she bought the Emerson instead of GE. She said, "I don't want to bring it back when your father sees who made it". Now Emerson may very well be a GE with a different name tag, I don't know.

The point is, I'll boycott GM.
 

res1b3uq

Active Member
Feb 14, 2009
336
16
union

Some of you may recall, the unions shut down Eastern Air Lines, thus putting them all out of a job. They'll gut it.:banghead:
 

baboon

TGT Addict
May 6, 2008
11,078
113
In a dumpy house on an expensive lot
G.M. Owns Ditech (leading provider of mortgage, refinance, FHA and jumbo home loans.) Just think how many sub prime loans they made to UAW member on houses in Detroit that are worth nothing.:banghead: These cockroaches are paying big bonuses & flat out stealing money while you & I pay for it. I'll bet if you were to seach ACORN is tied into G.M. in a big way. Talk about buying an election
 

country_boy

TGT Addict
Feb 7, 2009
3,631
63
Round Rock
yep no more Pontiac. No more GTO and no more firebird. I wonder if saturn, hummer, buick, and saab will remain? As long as Chrysler remains Ill be ok.
 

M. Sage

TGT Addict
Jan 21, 2009
16,326
36
San Antonio
yep no more Pontiac. No more GTO and no more firebird. I wonder if saturn, hummer, buick, and saab will remain? As long as Chrysler remains Ill be ok.
They should have shut down Saab years ago. What crappy cars... Hummer should die a quick death; nobody is buying those.
 

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