varifrank.com - 11/9/2008
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Question of the day -
"So why can't GM be allowed to go into bankruptcy?"
Seems to me that United Airlines and half a dozen other companies I can name have gone into bankruptcy without also going out of buisness. GM goes into bankruptcy it gets relief on some of its debt but gets ...
online.wsj.com - 11/17/2008
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online.wsj.com —
General Motors is a once-great company caught in
a web of relationships designed for another era. It
should not be fed while still caught, because that will leave it trapped until we get tired of feeding it. Then it will die. The only possibility of ...
(more)
Why Bankruptcy Is the Best Option for GM
corner.nationalreview.com - 11/13/2008
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corner.nationalreview.com —
What would it mean to have GM go
bankrupt? A change in ownership and a renegotiation of
contracts. The factories, computers, office space, intellectual property and so forth that are now owned by GM would not disappear; they would basically become ...
(more)
Bankruptcy for GM
portfolio.com - 11/17/2008
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portfolio.com —
There's a bailout vs bankruptcy meme going around
with regard to GM -- a choice which makes
me want to tick "none of the above". I've seen it in dozens of places of late, but since it comes with the imprimatur of Paul Krugman , let's look ...
(more)
GM: The Bailout vs Bankruptcy Meme
Comments
Blog Reactions
Here’s Your Bailout, Bub
Vodkapundit —
... .” That’s not quite what he promised Michigan voters during the campaign season — but it’s a message I can get behind. RELATED : Question from Varifrank — why can’t GM be allowed to go into bankruptcy? Actually, GM needs C11 if it’s ever going to recover, Ford just might, and the very best Chrysler can hope for is a brutal strip & flip from Cerberus. Otherwise, it’s liquidation. Tagged as: ...
Instapundit —
... No Bailout for the Auto Industry. "Union contracts that impose astronomical health and pension costs, make innovation harder, reduce production flexibility, and fail to ensure quality. American workers can produce quality cars and do so at numerous foreign owned plants. Most of those plants, however, are not organized. A Democrat-sponsored bailout is certain to preserve the current union contract." And that's not the worst of the problems . . . .
Plus, Varifrank asks, Why can't GM be allowed to go into bankruptcy?
...
William Katz: See the USA...in your Toyota?
Power Line —
... I think back to that tag put on a car ordered by an auto worker: "For one of the boys." Maybe if Detroit had treated all of us like "one of the boys" this never would have happened. Now, if we fork over the funds, we should demand the needed changes. We the people are in the driver's seat now.
For contrasting points of view on the wisdom of taxpayer support for the auto industry, see Professor Bainbidge's "No bailout..." and Varifrank's "So why can't GM be allowed to go into bankruptcy?" (Via Instapundit.)
UPDATE: ...
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GM SAVE
beltwayblips.com 1/11/2009 — I just wrote a way to bail out GM. If you can get this message to Obama or Mr. Biden, or even Michelle, Please contact me.
GM goes nuclear
meganmcardle.theatlantic.com 12/4/2008 — So GM wants $18 billion just for itself. Words fail. Or rather, I don't think I can print the words that immediately come to mind. This is a family blog. Somewhat to my surprise, the political types tell me this polls very badly ...
Report: GM Turned down by Government
calculatedrisk.blogspot.com 11/3/2008 — From the NY Times: U.S. Rejects G.M.’s Call for Help in a Merger The Treasury Department has turned down a request by General Motors for up to $10 billion to help finance the automaker’s possible merger with Chrysler ... the Bush administration will ...
The Bankruptcy of GM
delong.typepad.com 11/14/2008 — We don't like to let financial firms go bankrupt because bankruptcy shuts down their business. Buying and selling financial assets is what they do, and bankruptcy requires that financial claims be largely frozen while the court sorts it out.
By ...
Whither GM?
meganmcardle.theatlantic.com 4/1/2009 — The more I read about these plans, the more I wonder what the end game is supposed to be. The administration is acting serious: firing Wagoner, and threatening to cut off funds if Chrysler doesn't make a deal with Fiat. Then you read ...
GM’s Magical Thinking
theamericanscene.com 12/4/2008 — I’ve been working my way through GM’s much-heralded restructuring plan that is being submitted to Congress tomorrow. It’s a lot less work than I thought it might be (though I’m blogging late at night as I’m reading it, so all of my comments are ...
GM May Get Loan for Chrysler
online.wsj.com 10/27/2008 — The Department of Energy is working to release $5 billion in loans to GM, a move that could help ease the way for a merger with Chrysler.
U.S. Sees a Smaller G.M. in the Future Than G.M. Does
nytimes.com 3/31/2009 — DETROIT General Motors has 60 days to fix a set of problems that have been decades in the making. For all of G.M. ’s deep cuts in recent years closing plants and shedding tens of thousands of jobs because of steep losses and declining market share ...
Deal Journal - WSJ.com : Mean Street: Why GM Is Doomed
blogs.wsj.com 12/3/2008 — If you’re a U.S. taxpayer you ought to read GM’s “ Restructuring Plan for Long-Term Viability .” By the end of next year, you’ll own a good chunk of this company, so you might as well familiarize yourself with what’s going on there. On first read, ...
A new day on Capitol Hill —
CNN Political Ticker 11/6/2008
NEW YORK (CNNMoney.com) — Spend tens if not hundreds of billions to boost the economy. Pass a law giving homeowners more leverage over lenders. Do more to address the growing ranks of unemployed workers.
There's a new day for economic policy in ...
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