Posted on 11/17/2008 4:03:56 PM PST by Candybar
The best reply I got to this post was that the UAW Pension Fund should spend about $7 billion of their own money to buy all of the stock.
This would be a great investment for the auto workers as they would find out first hand what it is like to run a big corporation. They would learn some other things too. For example, they would learn how to deal with their own people.
In fact, the auto workers have essentially helped to run these corporations for many, many years. They have the knowledge and experience far beyond any that could be purchased in the labor market.
Barney Frank, Nancy Pelosi, Harry Reid and Obama open your eyes! This may be a great opportunity for the autoworkers which could be purchased for the pitterance of only about $7 billion! And after January 20, 2009, Mr. Obama, you could give them another $350 billion (the uncommitted amount that the big enchilada, Mr. Paulson, will be turning over to you).
This could be one helluva deal. Think of all the poor people you would be helping, Mr. Obama!
One last thing. A piece of advice for Mr. Obama. Don't turn to one of your financial advisors, the Oracle of Omaha. By not doing so, you would get all the credit for this!
Interesting idea.
Won't go, tho. Too much responsibility.
The Union thugs are too smart to sink any of their own money into the Big 3.
But you raise an interesting question.
“Is Buying GM, Ford and Chrysler Stock a Good Investment?”
And that depends on if Obama and the Socialists are gonna bail them out. And if they do, will that raise their stock values out of the gutter?
Only until that pile runs out. Wash, rinse, repeat, ad infinitum!
ML/NJ
Only if US Government backs any liabilties - that is the tax payer (aka suckers)!
Only if US Government backs any liabilties - that is the tax payer (aka suckers)!
The union is dumb, but they are not Congress dumb.
Yep. They want to kill the golden goose. They just don’t want to be blamed for it’s death.
Take a gamble and buy some today. If the bailout is approved, the stock will go up 100%. A bunch of people will tout this as evidence the bailout was a great idea. Sell the next day, because a year from now the stock will b worth less than today.
Nah...strikes wouldn't be any fun then.
There’s a lot of sites. www.Etrade.com, www.ameritrade.com, www.scottrade.com just to name a few.
ooops, sorry...that’s www.tdameritrade.com
Why buy the stock? Last time I checked you could buy 2010 calls for about 50 cents a share. That is if you thought the stock would be at $10 in 2010. Ha!
The union isn’t dumb. The members are. The union has managed to keep the gravy train running at an obscene level for an amazing length of time. It is shocking that they could pull this off. They managed to play both sides beautifully and, even if the automakers die and the jobs are lost, they will still have made a boatload of money.
“What a joke. If the UAW bought GM the first thing they would do is void all existing contracts with themselves.”
Actually, it’s not a bad idea IMHO. That’s exactly what saved some of the US steel industry back in the 70’s. Workers bought the companies when they were about to go out of business, and decided they couldn’t run the company paying themselves as much as they USED to make. Three things happened:
1)The new owners cut their pay.
2)There was much interest in making the company efficient and profitable, since THEY were now the new owners.
3)The companies became competitive again and began to make a profit.
A classic argument against socialism if there ever was one. Give people a real stake in the economy and leave them alone, and the economy will grow and prosper.
No. Not until they declare bankruptcy and are able to fix the real problem. Otherwise they are just going to piss away whatever bailout they get and be back for another, then a third, and another, etc.
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