Current Dumbass Residents of "The Family" Home

[me]

http://www2.ljworld.com/news/2009/jun/13/gm-plan-really-uaw-bailout/

[LOsborne]

I do believe a lot of the stock holders were people who worked there.  They might not have had any controlling interests but they did have stock which suddenly became worthless. 

The link you provided (which is an opinion piece, incidently, not a news story) does not say the GM workers held stock. What is does say, is that a component of the deal is the United Automobile Workers' health care fund gets 17.5 percent of the common stock. Which is now worthless, according to you.

So how is the UAW coming out better of than any other stockholder? Worthless paper is worthless paper.

[me]

They have a say in the running of the company now and the stockholders are just out on their ear.  That might not be a blessing though for the union because they will have to take a hit if they go the wrong way with the company.  If they close up shop they're done and if they stay open they'll have to cut back on the wages and benefits they figured the company should be paying the workers for the same reason it was a bad idea for the company to have to pay them, not cost effective.  Therefore the union will be working against themselves in a sense and the workers might still have a job but they will be making less so they can pay into the union who will now openly be thinking of themselves rather than the employees.  Hum, maybe Obama put the unions in the trick bag here....   Anyway just thinking out loud so to speak.  I'll try to get a chance to go huntin' a link with a little better explaination that isn't an opinion piece.

[Philodox]

The link you provided (which is an opinion piece, incidently, not a news story) does not say the GM workers held stock. What is does say, is that a component of the deal is the United Automobile Workers' health care fund gets 17.5 percent of the common stock. Which is now worthless, according to you.

So how is the UAW coming out better of than any other stockholder? Worthless paper is worthless paper.

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If the company didn't have government intervention you would be right...  the investors & suppliers got 17.5% on the dollar of what was owed them in bankruptcy. The Union Workers received 17.5% of the NewGM.... Now, don't let that 30 Billion that 'we the people' bought into pass you by.  That would amount to..what...5.25 Billion of Welfare monies that the UAW got because of government stupidity.

I just thought about this, you should check & see just how much did GM owe the Union before the bankruptcy, & why didn't they just take a haircut like the rest of the investors..?

Don't worry... your grandkids will enjoy paying for your greed. & you won't see them pissing on your graves...  lol

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[dan foster]

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I just thought about this, you should check & see just how much did GM owe the Union before the bankruptcy, & why didn't they just take a haircut like the rest of the investors..?

First, I doubt you thought anything.  Second, why don't you tell us how much GM owed the Union before the bankruptcy?  It's your "thought".

[me]

First, I doubt you thought anything.  Second, why don't you tell us how much GM owed the Union before the bankruptcy?  It's your "thought".

http://www.businessweek.com/bwdaily/dnflash/content/may2009/db20090526_240387_page_2.htm

[Philodox]

http://www.businessweek.com/bwdaily/dnflash/content/may2009/db20090526_240387_page_2.htm

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Thanks, Me... You're a better man that I am. lol

I wouldn't give the simple-minded bastard the time of day.  lol

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[me]

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Thanks, Me... You're a better man that I am. lol

I wouldn't give the simple-minded bastard the time of day.  lol

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I normally don't but couldn't help myself this time...

[dan foster]

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Thanks, Me... You're a better man that I am. lol

I wouldn't give the simple-minded bastard the time of day.  lol

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Together, you guys are twice the moron I thought you were.  Your insinuation of the UAW taking a cut before anyone else, then implying it was larger than it should be is completely disproved by the story in the link.  Thanks "me" for showing what a dumbass philodo is.

[LOsborne]

Hmmm... according to the link, the answer to how much GM owed the Union before the bankruptcy is 20 Billion dollars. As part of the restructuring the union gets a note for 2.5 billion in cash and preferred stock, and another 6.5 billion in preferred stock after the company emerges from bankruptcy (if ever.) Now since we have all agreed GM stock is worthless, how did settling for less than twelve cents on the dollar equate to the union making out like pirates while everyone else got screwed?

[Elaine]

maybe they could appoint a czar to do the math for the bailouts.
someone who could get the concept of simple bookkeeping right.

[dan foster]

maybe they could appoint a czar to do the math for the bailouts.
someone who could get the concept of simple bookkeeping right.

[Philodox]

Together, you guys are twice the moron I thought you were.  Your insinuation of the UAW taking a cut before anyone else, then implying it was larger than it should be is completely disproved by the story in the link.  Thanks "me" for showing what a dumbass philodo is.

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The fact that you can't grasp such a simple concept is not my ( or Me's ) fault.

It is no wonder you seek assistance from cradle to grave...  You couldn't make it by yourself.

....yeahhh, salute Walter Ruether.... Heir Ruether..!

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[Exterminator]

The fact that you can't grasp such a simple concept is not my ( or Me's ) fault.

Simple concepts are all you and 'me' have.

[dan foster]

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The fact that you can't grasp such a simple concept is not my ( or Me's ) fault.

It is no wonder you seek assistance from cradle to grave...  You couldn't make it by yourself.

....yeahhh, salute Walter Ruether.... Heir Ruether..!

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Yes.  I am just overwhelmed by your superior knowledge and intellect.  Amazing.