Z28x

UAW is dieing a slow death, they lost about 1/3 of their members during the bankruptcies and prior to that lost about 50% since the 70's.

Z28Wilson

I thought about doing it either here or in the Lounge Jason, but I wasn't sure what line, if any, the thread might eventually cross (political)....

JasonD

Go ahead, the point isn't a political one. Sure, it references the Pres, but the focus is most certainly on the problem at hand, which is the actions of those auto workers. If anyone makes it political, they have to go out of their way to do it and it will be dealt with.

guionM

I pretty much agree (search my previous rants and warnings on China).

China's real danger, however, is that due to it's population size, it abundant natural resources, it's low wages, every company willing to sell their mother to set up shop there, and finally, China's economic ambitions is that China can easily outdo the US economy. They have a massive market and even more export potential.

The point I'm making is that it's easy to see China as the bad guys for wanting to buy GM stocks. However, as with plenty of other things here in the US, we put ourselves in that position. The REAL bad guys here in this situation are the guys that ran GM into the ground in the 1st place, and put GM in this position.

GM started the decade pretty much on par with Toyota.

Ford came close to the edge as GM did at about the same time, and used the same UAW & CAW.

A couple of years ago, GM lost more money in a quarter than any US Corperation in history.

The key reason GM needed to go before congress for money was because years before the private sector stopped lending then money because GM was judged and extremely high risk, and GM could no longer sell enough junk bonds to keep them going.

In this case, despite what we think of China, all they're doing is coming in and buying stock in GM.

If anyone wants to be outraged, we should be outraged that there's people in this country that haven't quite grasped the fact that every tax cut as well as every spending increase is simply money borrowed from China that we're going to have to pay anyway...... plus extra for intrest.

That makes buying a portion of GM (remember, a single investor, Kirk Kekorian once owned 10%) seem like a rather minor thing.