hotair.com - 4/28/2009
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Imagine you’re one of the bondholders of GM, the people who bought the automaker’s debt in order to invest in the company and keep it running over the last several years. Now that the company is near collapse, the Treasury offers you this deal. Even though you own $27 billion in ...
rasmussenreports.com - 5/4/2009
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rasmussenreports.com —
Just 18% of Americans think the United Auto
Workers union and the federal government will do a...
good job running Chrysler and General Motors, according to a new Rasmussen Reports national telephone survey. Forty-seven percent (47%) believe the union ...
(more)
Only 18% Say UAW, Government Will Do Good Job Running ...
slate.com - 4/30/2009
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slate.com —
Some conservatives are troubled that the UAW is
getting a huge ownership share in GM (about 40%)...
and Chrysler (over 50%): For example, Larry Kudlow : What is going on in this country? The government is about to take over GM in a ...
(more)
UAW as Owner: Let the Bosses Take the Losses!
minx.cc - 4/29/2009
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minx.cc —
This is really getting strange. Under a debt
restructuring plan, the UAW is going to become a...
55% stakeholder in Chrysler. The United Auto Workers union's retiree health-care fund will own 55 percent of Chrysler LLC in exchange for cutting...
(more)
The UAW Is About To Become One Of The Biggest Automakers
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The UAW Is About To Become One Of The Biggest Automakers
Ace of Spades HQ —
... plan that would be similar in that instead of paying into a health care fund would result in the union owning 39% of the company, while the federal government owned 50%. The remaining stock would be owned by bondholders who get the short end of the stick . There used to be a joke that the organizations formally known as the Big 3 were health insurance companies that made cars on the side. Now it's the truth. It's amazing that the people who created this mess are going to wind up owning the companies they screwed (Yes, management helped. A lot.). On the upside, it will be ...
Related Content
UAW/GM bailout question for the day
tigerhawk.blogspot.com 5/28/2009 — So, on arriving back to the parking garage at the Trenton train station, I noted that a douchebag had parked so close to my car that I could not open the door. And not because I'm fat. Behold, the douchebag's car:Fortunately, I am limber enough to get ...
Today's Must-Read: Obama and the UAW
minx.cc 4/1/2009 — You've got to give this to Obama, he stays bought:The GM bailout has become a political operation run out of the White House. It will stay that way. Talk of UAW layoffs already disguises the fact that UAW workers are...
The UAW Gets Bailed Out Again
wizbangblog.com 2/17/2009 — GM and Chrysler are getting another $7 Billion, keeping the UAW in its perch of power over these companies: Detroit's carmakers are due to submit their latest viability plans to...
Welcome to UAW Motors
norunnyeggs.com 5/9/2009 — Bloomberg is reporting that the dissident senior creditors of Chrysler have caved and will not be fighting for anything more than the 29% that the Obama administration initially offered them. The quote of the day is from Tom Lauria, which was ...
GM: Is $50 Billion the Limit?
slate.com 6/1/2009 — Key sentence in the government's GM bankruptcy release ( via Ambinder ) highlighted:
The U.S. Treasury is prepared to provide approximately $30.1 billion of debtor in possession financing to support GM through an expedited chapter 11 ...
The UAW Has A Long Memory
slate.com 6/27/2009 — The U.A.W., now a major GM shareholder, has delivered its final punishment to those auto workers who dared move to Spring Hill, Tennessee and show up the rest of the union by building reliable car without Wagner-style work rules. GM's new ...
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 ...
50-50
julescrittenden.com 3/24/2009 — Zogby poll due out in the morning will be reporting the Obama admin's latest grim milestone. As many people don't like him as do. Boston Herald:
The honeymoon is over, a national poll will signal tomorrow as President Obama’s job approval stumbles ...
Can government and unions run a car company?
betsyspage.blogspot.com 4/30/2009 — Well, we're going to soon find out with the plans put forward for GM and Chrysler.The United Auto Workers (UAW) would own 39% of GM. The federal government would own 50%. The creditors will be shafted with just 10%. (In the Chrysler plan being ...
Senate confirms Sebelius —
CNN Political Ticker 4/28/2009
The Senate has confirmed Sebelius to head the HHS.
WASHINGTON (CNN) — The Senate confirmed former Kansas Gov. Kathleen Sebelius as secretary of Health and Human Services Tuesday on a 65-31 vote.
With the Sebelius confirmation, every Cabinet ...
Newsweek: Obama struggles with life in spotlight —
msnbc.com: Politics 4/28/2009
Obama seems to have had a tougher time adjusting to life in the White House than Clinton, or even George W. Bush, in part because he can still remember what it was like to be a normal person. Before becoming president, he spent just four years in the ...
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