Patriots In Exile Club

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Alien Allen

Alien Allen

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Re: The Conservatives In Exile Club

GoldDust Woman said:
So glad that I'm a native San Diegan. :24:
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Them assholes in CA deserve to get what they reap out of this also. :nod:

If anybody thinks Waxman is the guy to lead us out of this mess they need to drink the Kool Aid :nod:

Everybody will pay for this if the auto corps go down.

Did you see the copy of an email I posted a couple pages back??
 
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GoldDust Woman

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Re: The Conservatives In Exile Club

Alien Allen said:
Them assholes in CA deserve to get what they reap out of this also. :nod:

If anybody thinks Waxman is the guy to lead us out of this mess they need to drink the Kool Aid :nod:

Everybody will pay for this if the auto corps go down.

Did you see the copy of an email I posted a couple pages back??
Click to expand...


Trust me. Californians are getting theirs. Hard core. :nod:


Bill, everyone is already paying the price. :willy_nilly:


Gimme the post number of the email you posted.
 
Alien Allen

Alien Allen

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Re: The Conservatives In Exile Club

GoldDust Woman said:
Trust me. Californians are getting theirs. Hard core. :nod:


Bill, everyone is already paying the price. :willy_nilly:


Gimme the post number of the email you posted.
Click to expand...

This is a copy :)

As you've all undoubtedly been reading and, perhaps watching, the domestic auto companies are in deep trouble. We have been slammed first by the dramatic rise in gas prices this past summer and then, even more critically damaged by the current financial crisis.

I'd like to give you my view on this issue and ask for your help.


When I started as an attorney at GM in 1991 there were few cars produced by GM that I would have purchased if I hadn't been working for GM. Our quality was still sub-par, our interiors had a cheap appearance and our design, for the most part, was uninspired. We also had a labor contract that forced us to keep plants open and rely on sales of large trucks and SUV to make any money at all.

Today's GM is dramatically different.

Bob Lutz has led a dramatic change in our styling and interior quality and appearance. Our quality for some of our vehicles is equal to that of the best Japanese manufacturers and our overall quality is light years beyond what it was in 1991.

Last year we negotiated a dramatically different kind of labor agreement with the UAW which includes a starting wage rate reduction for new hires from more than $27 per hour to $14 per hour. So, as more of our existing (older) workforce retires, all new hires will be at this much lower wage rate. In addition, the UAW agreed that if GM funds what is called a Voluntary Employee Benefit Plan (VEBA) for health care, GM would have no future liability for health care for UAW members. GM currently spends more than $2 billion per year on prescription drug coverage alone and the total health care costs to GM under our existing arrangement adds thousands of dollars of cost to our vehicles. This new agreement with the UAW, however, does not fully benefit GM until 2010.

GM had put in place a $15 billion cost reduction plan to allow us to be competitive until those cost savings from our new union agreement kicked in.

Then came the events of last summer and this fall. We were weathering the spike in gas prices. Then the financial meltdown hit. GMAC still funds most of our dealers and many consumer purchases of new vehicles. Because of the freeze in the capital markets, GMAC can't borrow money to provide enough funding for dealers (who purchase our vehicles and then sell them to consumers) or end consumers. And despite what a number of our brilliant Senators and Congressman are saying there is simply not enough funding available to dealers to make up the shortfall in the GMAC financing. If our dealers can't buy cars from us, we don't sell cars and the lights go out. Period.

We are working with GMAC to assist in their efforts to become a bank holding company. If they become a bank holding company they will have almost immediate access to the Troubled Asset Relief Program (TARP) funds that companies like Morgan Stanley and Goldman Sachs have been able to access. With access to this fund, GMAC will be able to provide dramatically more financing to GM dealers.

Back to GM. You might have heard a number of academics, Senators and business leaders suggest that the best course of action for GM is to go through the bankruptcy process and restructure all of our legacy agreements that still burden us.
Two problems with that approach.

First, we are not like an airline where folks are paying several hundred dollars for a ticket and they don't have to look beyond whether the airline is maintaining scheduled flights. A car costs much more than a plane ticket and people want to be assured that their warranty will be honored, for example. Even if GM said it would maintain warranty coverage coming out of bankruptcy, many consumers would be wary of that promise.

Second, earlier this year there might have been funding available to GM to bridge it through the bankruptcy process (it's called debtor in possession - or DIP - financing). Today that funding is not available in the capital markets. So, if we filed for Chapter 11 bankruptcy protection without financing to get through the bankruptcy process, we would have no money to operate and would quickly be forced into Chapter 7 bankruptcy which means liquidation of the company. No restructuring of agreements with the union, dealers and suppliers. Shut the doors and hundreds of thousands of people are unemployed. When GM shuts down, thousands of suppliers and dealers will shut down. Now we're talking about millions of unemployed.

So, unless the government provides some form of bridge loans or guarantees DIP financing in a bankruptcy process (which by the way would be more than the loan we are asking for today), there is a good likelihood that GM will disappear, very likely to be followed by Chrysler, and, if the markets don't pick up, Ford as well.


Michigan's Congressional delegation is working this issue hard in the Senate and House. Senators and Congressmen and Congresswomen from other states need to hear from their constituents that this issue matters to them as well. You can easily send your Senators and Congressional reps an email showing your support by going to:

http://gmfactsandfiction.com/

Click on the "I am a Concerned American" button and follow the simple instructions. It will send a canned message to your legislators. Numbers count in this process so don't assume that a canned message will have not impact.

I apologize for making this request. Frankly it's embarrassing, but beyond the personal impact on our family, I truly believe GM's demise would be devastating for our economy particularly in the current environment.

Thanks for listening.


Jeff
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Destroyer Dave

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Re: The Conservatives In Exile Club

I dont know guys I just think its time to rid our lives of this out dated monitary slave wage system in genral! democracy will fail as all other governmental ideas have faild, so fuck it! why not try a resorce based ecomomy? GO GREEN BITCHES, that is the slogan right......
 
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GoldDust Woman

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Re: The Conservatives In Exile Club

On a lighter note. :D


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Peter Parka

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Re: The Conservatives In Exile Club

Just interested, I know its a different country but can I join this club? I've voted Conservative for the last 8 years, am sick to death of Labour and bomber Bill Ramell, my MP. Our conservative candidate is very good with people with disabilities, has suffered with it all his life and seems much more on the side of people with genuine reasons not to work, than Labour.
 
All Else Failed

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Re: The Conservatives In Exile Club

hahahaha oh man I can't wait until he gets re-elected for a full 8 year term. I voted for Obama btw ;^)
 
Alien Allen

Alien Allen

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Re: The Conservatives In Exile Club

All Else Failed said:
hahahaha oh man I can't wait until he gets re-elected for a full 8 year term. I voted for Obama btw ;^)
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things are so screwed up and he made so many promises that it would not surprise me if Clinton beat him out in 4 years. It won't take long for his followers to turn on him. There were lots who actually bought into his BS.
 
All Else Failed

All Else Failed

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Re: The Conservatives In Exile Club

you guys are being completely silly. All of this "USSA" and "R.I.P. America" stuff is just overreaction. All the scary things he promised to do on the campaign trail will stay there and not follow him into the white house.
 
Alien Allen

Alien Allen

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Re: The Conservatives In Exile Club

All Else Failed said:
you guys are being completely silly. All of this "USSA" and "R.I.P. America" stuff is just overreaction. All the scary things he promised to do on the campaign trail will stay there and not follow him into the white house.
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and doom him 4 years from now

you have no idea how bad the flock bought into his BS :D
 
BadBoy@TheWheel

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Re: The Conservatives In Exile Club

All Else Failed said:
you guys are being completely silly. All of this "USSA" and "R.I.P. America" stuff is just overreaction. All the scary things he promised to do on the campaign trail will stay there and not follow him into the white house.
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Go start your own thread hippie:24:

Welcome back:)
 
Destroyer Dave

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Re: The Conservatives In Exile Club

All Else Failed said:
you guys are being completely silly. All of this "USSA" and "R.I.P. America" stuff is just overreaction. All the scary things he promised to do on the campaign trail will stay there and not follow him into the white house.
Click to expand...
no acctualy the us is in a downwerd siral, I say that the next 10-15 years will tell the tail! It will most likely end in the same way it was born......REVOLUTION!!!!! Mark my words these are the last few years of the USA as we know it!!!:blowme:
 
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