Posted on 03/02/2009 5:39:27 AM PST by MindBender26
This is segment of transcript of Bob Schieffer's interview with Rahm Emanuel yesterday AM. Is this not a setup for business failure and nationalization or just plain nationalization?
- - - - - SCHIEFFER: Back now with the White House chief of staff Rahm Emanuel.
Mr. Emanuel, General Motors is now losing $100 millions a day. They have already spent, we are told, two-thirds of what they have already received from the government. And we're hearing they want some more. They're now asking for another $16 billion. Is the president going to do that? Because the question I have is, how long does this go on?
EMANUEL: As you know, the panel of experts we've assembled on the auto industry is working with GM and the others on their plan. The president has been very clear, though, what his priorities are. They have to have a viable business plan, on a going-forward basis, and it's going to require a sacrifice from all the parties involved to do that.
But here's the other thing I think that people should see, in both GM as well as the others. They never invested in both alternative energy cars. They got dependent on big gas guzzlers. They didn't do -- they have a health care cost structure that's outdated.
And as, sort of, an example, we talked earlier, Bob, about the fact that their health care system is affecting their business and their employers -- and their employees, rather.
And it's an example, in my view, of what the president's saying for this country. The day of reckoning, of making sure that we had a policy on energy independence, a policy that ensures that our health care costs were under control and our ability to make sure that coverage was expanded to those who are uninsured, as one way to also bring costs under control -- that is the challenge we face as a country.
Is it GM specific?
The president wants to see a business model that, on a going-forward basis, is cognizant of the market and that all the parties made the sacrifices necessary for that independence. The panel of experts are now meeting to go over those plans and help them develop something -- or review what they're doing before any other decision is made.
SCHIEFFER: So you're saying, unless they change their ways drastically, unless they come up with a new model, no more money.
EMANUEL: Basically, over the last 20 to 30 years, they had a strategy that has gotten them to, I think, a very unfortunate position both on health care costs, new types of cars, weaning themselves off of basically gas guzzlers to energy-efficient cars. And they're making those changes now, when everybody said, for the last 20 years -- but it's a wake-up call which is clear -- what the president said on Tuesday night. It's a wake-up call to America. Do we want to have an energy policy...
SCHIEFFER: So they have to do something different?
EMANUEL: They have to... (CROSSTALK)
EMANUEL: Wait a second. The plan is in front of the panel of experts, which is where it should be (inaudible) basically making sure that the restructuring is a viable restructuring plan.
Well, the guy down the street doesn’t make cars, so I am kind of stuck here. I won’t by Jap, and euro cars are too expensive.
Help me out here....
Thanks for posting. Interesting.
I see it as this...(posted on “Automotive Industry Continues a Slow Death” thread)...
They’re (government/industry/union/judges/propagandists) are already floating the new lexicon, “managed bankruptcy” (managed economy/life anyone?) where they offload much of the legacy costs on EVERY U.S. taxpayer. Some of hard-working retirees (with no voice) are in effect told to eat a crap sandwich and die. Then the government/industry/union/judges/propagandists/fascists/collectivists can emerge from this with happy faces, take some pictures, talk to each other, kiss some babies and do some greasy gladhanding before they move forward to their next scam.
http://www.freerepublic.com/focus/f-bloggers/2196066/posts
I have owned vehicles from all three and I love my current Chrysler Town & Country as well as my previous Plymouth Grand Voyagers.
My last Grand Voyager, an 1990, had the 3.3 liter Chrysler engine and I finally sold it for $500 in 2006 with 258,000 miles on it.
It needed paint but other than that was still in very good mechanical shape and the interior was still is very good shape.
The worst built car I had was when I married and thus inherited a 1979 Datsun 210 (not the B210, just the plain old 210).
Worst piece of junk to ever roll the roads.
My favorites were my 5 liter Mustangs and my Corvettes.
Someone should ask these Bozos to quote a Founding Father who pontificated about transferring trillions of dollars from one Group to another group in order to help them while devastating the other .
I would like them to enlighten the masses on the section of the Constitution that they swore an oath to that allows them to turn us from a Republic into a Dictatorship .
Someone should ask these Bozos to quote a Founding Father who pontificated about transferring trillions of dollars from one Group to another group in order to help them while devastating the other .
I would like them to enlighten the masses on the section of the Constitution that they swore an oath to that allows them to turn us from a Republic into a Dictatorship .
Constitution? What constitution?
The 2012 Pelosi GTxi SS/RT Sport Edition
LOL! Very funny from Iowahawk! Thanks for posting.
Build all the hybrids you want f***ing commies. I’m still not going to buy anything from bailout receivers. Ever.
Uhhh...no, they don't have great design and engineering sophistication.
You must be thinking of some other company.
I have had problems, so I guess that means their consistency is not good.
Either.
“Their build, design, and quality have always been superior.”
I’d have to say that’s a matter of either luck or opinion. I used to have a Chevy and it needed a new electrical system after 37,000 (how convienent as that’s right after the 3/36 warranty). My husband’s friend has been a GM guy all his life and finally caved when he bought a brand new Duramax truck that needed a new tranny after only 300 miles, then again at 25,000. His wife just got put new brakes and rotors on her 6 month old Equinox.
Not to mention their vehicles, along with Chrysler and Ford, have nothing but cheap plastic interior. $25,000 for plastic. It’s s shame.
I won a Dodge Avenger, unfortunately and it’s the same deal-junk quality, junk engineering, junk design.
These vehicles are not made with pride or exception. They are union junk, mass-made to get a quick buck.
**”won” should be own.
The Central Planning Committee. Evil arising from the ashes of Communism.
Detroit’s outlook falls along with home prices (Median Price $7,500 really!)
The Trib | 3/2/09 | Mikey_1962
Posted on 03/02/2009 3:13:07 AM PST by Mikey_1962
http://www.freerepublic.com/focus/f-news/2197118/posts
US STOCKS-AIG fallout pushes Dow under 7,000
(AIG has most of the 401k of the teacher union)
reuters.com/ | Mon Mar 2, 2009 | Charles Mikolajczak
Posted on 03/02/2009 1:54:32 PM PST by patriotmediaa
http://www.freerepublic.com/focus/f-news/2197557/posts
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.