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Obama says Big Three automakers must not fail (Zero wearing dead albatross around his neck)
Market Watch ^ | 12/07/08 | John Spence

Posted on 12/08/2008 5:21:34 AM PST by TigerLikesRooster

Obama says Big Three automakers must not fail

President-elect voices opposition to court-supervised bankruptcy

By John Spence, MarketWatch

Last update: 12:14 p.m. EST Dec. 7, 2008

BOSTON (MarketWatch) -- President-elect Barack Obama said Sunday that the auto industry is the "backbone" of American manufacturing and that top automakers can't be allowed to go bankrupt.

Speaking on NBC's "Meet the Press," Obama said management at the Big Three auto companies -- Ford Motor Co. (F) , General Motors Corp. (GM) and Chrysler LLC -- made "repeated strategic mistakes."

But he added that millions of Americans rely on the Big Three for their jobs, directly or indirectly, so they should not be consigned to court-supervised bankruptcy as some people have suggested.

Obama said he wants assistance to be conditioned on restructuring.

"That means we're going to have to figure out how to put the pressure in the same way a bankruptcy court would ... but do so in a way that allows them to keep their factory doors open," he said.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: automaker; bailout; bankruptcy; obama
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So his first two major policy decisions are Big3 bailout and $1 trillion public work project?

Obama is dying to wear dead albatross around his neck. We should encourage him, and watch him drown. This decision will haunt him for a long time.

1 posted on 12/08/2008 5:21:35 AM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; ...

Ping!


2 posted on 12/08/2008 5:21:54 AM PST by TigerLikesRooster (kim jong-il, chia head, ppogri, In Grim Reaper we trust)
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To: TigerLikesRooster

ya know, it’s funny..NON-union foreign manufacturers in the south are purring along with no problems..

these guys make it seem as though the domestic manufacturers are our only choice..

they need to take a lesson from honda, toyota, kia and the rest who have built, or are building, new plants all across the south. these companies are hugely successful..

IMHO..


3 posted on 12/08/2008 5:24:09 AM PST by GeorgiaDawg32 (A democrat will break your leg, then hand you a crutch and take credit for your being able to walk.)
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To: TigerLikesRooster

I know you were referring to Zero Mostel, but it’s interesting that the Obamaloon is also a zero.


4 posted on 12/08/2008 5:24:17 AM PST by Da Coyote
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To: TigerLikesRooster

I just heard O on the radio saying the big 3 still need to make changes and concessions. The only specific thing I heard was “the CEO total comp. package is still way out of line.” Yeah! THAT’S the problem.

This is going to be FUN!!!!!!!!!!!!!!!!!!!! to watch. The dems want to save the big 3, BUT THEY ARE FORBIDDEN TO EVEN MENTION!!!!!!!!!!!!!!! WHAT IS KILLING THEM.

Like I say... FUN to watch.


5 posted on 12/08/2008 5:29:41 AM PST by Monsieur Poirot
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To: TigerLikesRooster

“We” are giving them $15 billion dollars to go away until february- then they’ll be back, broke again, the economy should be even worse by then

Meanwhile the EPA and a bunch of marxists that never ran a lemonade stand in their lives will help them re-do their business model

BOHICA


6 posted on 12/08/2008 5:30:39 AM PST by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
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To: TigerLikesRooster

Why shouldn’t 0be bring back Packard and Studebaker while he is at it?


7 posted on 12/08/2008 5:31:39 AM PST by Paladin2 (No, pundits strongly believe that the proper solution is more dilution.)
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To: TigerLikesRooster
Obama is also going to have over a $1 trillion dollar deficit in fiscal 2009 and 2010 should top that.
8 posted on 12/08/2008 5:32:23 AM PST by avacado
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To: silverleaf
I see a coming confrontation between Obama zealots and UAW goons.
9 posted on 12/08/2008 5:32:57 AM PST by TigerLikesRooster (kim jong-il, chia head, ppogri, In Grim Reaper we trust)
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To: Paladin2

maybe they can re-tool the Edsel line and rename it “the Obama”


10 posted on 12/08/2008 5:34:31 AM PST by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
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To: TigerLikesRooster

With the rush to claim him as messiah, president-elect, and savior of the new world order, what else can I do but set back and watch the carnage unfold. Every media outlet is nothing but doom and gloom for the last 25 years, but I ‘spect it will radically change now that we have him to save us from ourselves.

Popcorn, anyone?


11 posted on 12/08/2008 5:35:21 AM PST by Delta 21 ( MKC USCG - ret)
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To: TigerLikesRooster
This decision will haunt him for a long time.

It will haunt everyone, in ways nobody has imagined yet. I woke up this morning listening to Chris Dodd dictating management policy to General Motors. This cannot turn out well for anyone.

12 posted on 12/08/2008 5:36:41 AM PST by Skid Marx
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To: silverleaf

BOHICA? What is it? The problem is a lack of confidence and BO thinking he has any answers...as the OBOTS like to say, but BO is the smartest person ever to be elected.


13 posted on 12/08/2008 5:37:24 AM PST by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
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To: TigerLikesRooster

RE : ‘are Big3 bailout and $1 trillion public work project?’

Dont underestimate democrats ability to win, and republicans to loose.


14 posted on 12/08/2008 5:38:25 AM PST by sickoflibs (Obama says: "I only need to buy 40% of voters with handouts and trick another 11%")
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To: GeorgiaDawg32

There sure wasnt this kind of non -union outcry when Boeing was bitching and moaning about not getting the tanker contract. I hope it sticks, or at least someone is paying attention in the big union offices. (Yeah, right!)


15 posted on 12/08/2008 5:38:39 AM PST by Delta 21 ( MKC USCG - ret)
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To: TigerLikesRooster
...a coming confrontation between Obama zealots and UAW goons.

Aren't they one in the same?

16 posted on 12/08/2008 5:39:28 AM PST by Skid Marx
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To: Skid Marx

HEh heh


17 posted on 12/08/2008 5:42:20 AM PST by Delta 21 ( MKC USCG - ret)
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To: TigerLikesRooster

I agree.They must not fail until I sell all of my shares that I bought at $1.45.


18 posted on 12/08/2008 5:43:57 AM PST by quack ("Those Who Sacrifice Liberty For Security Deserve Neither.")
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To: avacado
"Obama is also going to have over a $1 trillion dollar deficit in fiscal 2009 and 2010 should top that. "

He'd just blame it on Bush...Bush will be his scapegoat for everything that is bad, and his obamabots will buy it hook, line and sinker.
19 posted on 12/08/2008 5:45:45 AM PST by FrankR (“Turtle up”, economically, for the duration of 0bamanation.)
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To: TigerLikesRooster
To file bankruptcy is not ending failure, it's reorganizing to make sure the previous failure causes is rectified.
20 posted on 12/08/2008 5:46:11 AM PST by tobyhill (No Honeymoon For Obama.)
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