From the horses mouth so to speak, Ed Whitacre told me that the Obama Administration was feeling public pressure about the loans. So they pressured him to get independent financing that the Feds would guarantee. GM has not paid back one dime of their debt yet, they just moved the paperwork from the Feds to a bank. It was because of the Obama bunch is why Ed left GM. Per Ed, GM will take decades to pay it back, if at all. The company has a lot of catching up to do to stay alive in the industry. That's a lot like Ford about 5 years ago under Mr Fords leadership...or lack of.

As far as GM plants in Mexico, they've had plants in Mexico for decades. So does Dodge and Ford. Fords largest auto plant isn't in the USA but in Brazil. These are global companies now. Ford and GM both are selling more cars into Asia than in the USA. GM cannot stay static and survive, it has to keep moving and developing. It was a good business decision to expand where wages and benefits were not eating up what capital they have. Or would you prefer that they just give it to the UAW and go broke?

Mitt Romney is just another typical professional politician- he will tell you whatever you want to hear. Reminds me a lot of somebody that said they invented the internet. I can only hope the Republican Party can come up with a decent man for the job. From my viewpoint, Romney is NOT it and will not get a vote from me. No matter how you want to view it, good or bad, the car makers bailouts were 100% Obama.

 

As conservative as I am, I too think the bailouts were necessary. The trickle down effect would have been disasterous. That comes from letting companies get too big in the first place. If you look back in my post, you will find I said the same thing when the bailouts were being considered. I hate teh bailouts but the alternative would have been worse. We need to ensure it's not necessary to do it again.

 

Didn't "Joe the VP" use this line for fostering support for a stimulus bill based upon borrowing money ?

I guess I should cut him some slack, it is not like he missed by a few million jobs ( oh wait.....he did ).

 

Joe the VP is the only thing that would keep those that hate Obama from wanting him impeached!

While Obama is WAY over his head and not a good president...Joe Biden makes him seem brilliant. Heck I would go for another round of W before letting Joe have power!