This is like my airline years---begging for our help

700IAM

Veteran
Aug 30, 2006
674
0
Dear me 700IAM


You made the right choice when you put your confidence in General Motors, and we appreciate your past support. I want to assure you that we are making our best vehicles ever, and we have exciting plans for the future. But we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

The U.S. economy is at a crossroads due to the worldwide credit crisis, and all Americans are feeling the effects of the worst economic downturn in 75 years. Despite our successful efforts to restructure, reduce costs and enhance liquidity, U.S. auto sales rely on access to credit, which is all but frozen through traditional channels.

The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research:

• One in 10 American jobs depends on U.S. automakers
• Nearly 3 million jobs are at immediate risk
• U.S. personal income could be reduced by $150 billion
• The tax revenue lost over 3 years would be more than $156 billion

Discussions are now underway in Washington, D.C., concerning loans to support U.S. carmakers. I am asking for your support in this vital effort by contacting your state representatives.

Please take a few minutes to go to www.gmfactsandfiction.com, where we have made it easy for you to contact your U.S. senators and representatives. Just click on the "I'm a Concerned American" link under the "Mobilize Now" section, and enter your name and ZIP code to send a personalized e-mail stating your support for the U.S. automotive industry.

Let me assure you that General Motors has made dramatic improvements over the last 10 years. In fact, we are leading the industry with award-winning vehicles like the Chevrolet Malibu, Cadillac CTS, Buick Enclave, Pontiac G8, GMC Acadia, Chevy Tahoe Hybrid, Saturn AURA and more. We offer 18 models with an EPA estimated 30 MPG highway or better — more than Toyota or Honda. GM has 6 hybrids in market and 3 more by mid-2009. GM has closed the quality gap with the imports, and today we are putting our best quality vehicles on the road.

Please share this information with friends and family using the link on the site.

Thank you for helping keep our economy viable.

Sincerely,



Troy Clarke
 
Dear me 700IAM


You made the right choice when you put your confidence in General Motors, and we appreciate your past support. I want to assure you that we are making our best vehicles ever, and we have exciting plans for the future. But we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

......

Who does this guy think he will fool? Even if they get the "loan", at the burn-rate they are currently at, they will run through an additional $10 billion before March of next year (GM would probably get $10b out of the $25b). Does he really believe that they will sell enough cars before March to make everything better? We know where the liabilities of his cost structure are coming from. By seeking a loan from the tax payers, he is seeking to pay employee salary and health care benefits from other hard-working tax payers, many of which cannot afford their own health care coverage. Moreover, upper management is incompetent and must realize that major changes need to be made.

Lets let them slide into Chapter 11. I am all for the gov't backstopping the loans of other private institutions to be given to the OEMs in bankruptcy so that they can avoid liquidation, but not a bailout (loan or otherwise). Simple: these OEM's need to make major changes, many of which can only be accomplished through bankruptcy. Throwing money at these OEM's without allowing these changes will only be throwing your money away.
 
The first things that should head this letter is:

1. All current mangement will be fired.
2. All employees will take a 50% pay-cut, so that they are more in line with our foriegn competitors,who have factories on U.S. soil and who pay approx. $35.00 an hour !
3. All jobs, forced upon the company by the UAW, that are non-productive and involve standing around with your thumb up your @$$, will be terminated !
 
The first things that should head this letter is:

1. All current mangement will be fired.
2. All employees will take a 50% pay-cut, so that they are more in line with our foriegn competitors,who have factories on U.S. soil and who pay approx. $35.00 an hour !
3. All jobs, forced upon the company by the UAW, that are non-productive and involve standing around with your thumb up your @$$, will be terminated !

Actually the workers at Toyota,Honda,Hyundai etc receive an hourly wage comparable to their UAW brothers at the Detroit automakers. The killer is the benefits cost for health care, pensions and retirees.

Nevertheless, GM should be allowed to slide into bankruptcy. It is the only way their management and the UAW will confront reality. And that reality will probably mean Chapter 7 liquidation.

Would you spend $30K now with no guarantees the company will be around?

I really gagged when GM's chairman said he didn't think he should be fired. Mind-boggling.

Three years ago I posted here that 100% certainty GM would file bankruptcy.

Their business has been broke for decades and now (finally!) the ride is slowing to a stop.

Yes, this is going to be BIG.

(and for all the narrow-minded critics out there, I have family members on GM pensions that will have to sell their house...)
 
Actually the workers at Toyota,Honda,Hyundai etc receive an hourly wage comparable to their UAW brothers at the Detroit automakers. The killer is the benefits cost for health care, pensions and retirees.

Nevertheless, GM should be allowed to slide into bankruptcy. It is the only way their management and the UAW will confront reality. And that reality will probably mean Chapter 7 liquidation.

Would you spend $30K now with no guarantees the company will be around?

Actually one of the good ole boys long time hunter I work with just bought a truck for $31K saying he never gave GM's demise a second's thought. He picks it up Friday. I just looked at him and smiled wishing him good luck. I wish I had his gonads.


I really gagged when GM's chairman said he didn't think he should be fired. Mind-boggling.

Three years ago I posted here that 100% certainty GM would file bankruptcy.

Their business has been broke for decades and now (finally!) the ride is slowing to a stop.

Yes, this is going to be BIG.

(and for all the narrow-minded critics out there, I have family members on GM pensions that will have to sell their house...)
 
700IAM:

Maybe they can take a PAT bus to DC? :lol:

Pittsburgh is having dinosaur contract problems with its only public transit company.Little issues like fully paid health insurance for employees and retirees..they balk at any contribution and its to the last final offer.....possible strike in the offing. :down:
 
700IAM:

Maybe they can take a PAT bus to DC? :lol:

Pittsburgh is having dinosaur contract problems with its only public transit company.Little issues like fully paid health insurance for employees and retirees..they balk at any contribution and its to the last final offer.....possible strike in the offing. :down:

ah hahahah fools!! :lol:
 

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