UAW considers reopening contracts to aid Big 3
12-02-2008, 07:17 AM
#1
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Location: BFE, Ohio
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UAW considers reopening contracts to aid Big 3
12-02-2008, 09:52 AM
#3
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Join Date: Mar 2000
Location: St. Louis, MO
Posts: 163
Dear Congress
You will not have to worry about us taking our jets to your next hearing as we will not be wasting our time even coming to your time wasting publicity stunts where we are expected to beg for money only to watch you instead give it to Citi.
With that said unless you loan us the money required in 60 days we will be declaring bankruptcy. As you know this will instantly put the government on the hook for all the pensions retirement health care and unemployment benefits.
At the same time it will relieve us of all debts to our suppliers, and workers and void the UAW contract.
We appreciate you setting up the laws like this for us and giving us this win win. Looking back we really aren't even sure why we foolishly were asking for the loan in the first place.
We will now open back up under a new name free of all financial burden.
Best of luck at election time explaining this to your now unemployed voters.
Sincerely
The big 3.
You will not have to worry about us taking our jets to your next hearing as we will not be wasting our time even coming to your time wasting publicity stunts where we are expected to beg for money only to watch you instead give it to Citi.
With that said unless you loan us the money required in 60 days we will be declaring bankruptcy. As you know this will instantly put the government on the hook for all the pensions retirement health care and unemployment benefits.
At the same time it will relieve us of all debts to our suppliers, and workers and void the UAW contract.
We appreciate you setting up the laws like this for us and giving us this win win. Looking back we really aren't even sure why we foolishly were asking for the loan in the first place.
We will now open back up under a new name free of all financial burden.
Best of luck at election time explaining this to your now unemployed voters.
Sincerely
The big 3.
12-02-2008, 10:23 AM
#5
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Join Date: Mar 2001
Posts: 1,943
If the UAW is truly willing to kick that asinine "job bank" to the curb then Detroit may have a chance to survive; if it's just window dressing/posturing then the Detroit Three's chances for long-term survival is dim even with a Federal bailout.
Last edited by Robert_Nashville; 12-02-2008 at 10:35 AM.
12-02-2008, 10:27 AM
#6
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Join Date: Apr 2005
Location: North of Cincy
Posts: 824
Dear Congress
You will not have to worry about us taking our jets to your next hearing as we will not be wasting our time even coming to your time wasting publicity stunts where we are expected to beg for money only to watch you instead give it to Citi.
With that said unless you loan us the money required in 60 days we will be declaring bankruptcy. As you know this will instantly put the government on the hook for all the pensions retirement health care and unemployment benefits.
At the same time it will relieve us of all debts to our suppliers, and workers and void the UAW contract.
We appreciate you setting up the laws like this for us and giving us this win win. Looking back we really aren't even sure why we foolishly were asking for the loan in the first place.
We will now open back up under a new name free of all financial burden.
Best of luck at election time explaining this to your now unemployed voters.
Sincerely
The big 3.
You will not have to worry about us taking our jets to your next hearing as we will not be wasting our time even coming to your time wasting publicity stunts where we are expected to beg for money only to watch you instead give it to Citi.
With that said unless you loan us the money required in 60 days we will be declaring bankruptcy. As you know this will instantly put the government on the hook for all the pensions retirement health care and unemployment benefits.
At the same time it will relieve us of all debts to our suppliers, and workers and void the UAW contract.
We appreciate you setting up the laws like this for us and giving us this win win. Looking back we really aren't even sure why we foolishly were asking for the loan in the first place.
We will now open back up under a new name free of all financial burden.
Best of luck at election time explaining this to your now unemployed voters.
Sincerely
The big 3.
LOL, I really shouldn't laugh as that is the truth.
12-02-2008, 03:20 PM
#8
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Join Date: Jun 2000
Location: SoCal
Posts: 3,463
12-02-2008, 04:13 PM
#9
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Join Date: Mar 2001
Location: The Golden State
Posts: 13,711
Dear Congress
You will not have to worry about us taking our jets to your next hearing as we will not be wasting our time even coming to your time wasting publicity stunts where we are expected to beg for money only to watch you instead give it to Citi.
With that said unless you loan us the money required in 60 days we will be declaring bankruptcy. As you know this will instantly put the government on the hook for all the pensions retirement health care and unemployment benefits.
At the same time it will relieve us of all debts to our suppliers, and workers and void the UAW contract.
We appreciate you setting up the laws like this for us and giving us this win win. Looking back we really aren't even sure why we foolishly were asking for the loan in the first place.
We will now open back up under a new name free of all financial burden.
Best of luck at election time explaining this to your now unemployed voters.
Sincerely
The big 3.
You will not have to worry about us taking our jets to your next hearing as we will not be wasting our time even coming to your time wasting publicity stunts where we are expected to beg for money only to watch you instead give it to Citi.
With that said unless you loan us the money required in 60 days we will be declaring bankruptcy. As you know this will instantly put the government on the hook for all the pensions retirement health care and unemployment benefits.
At the same time it will relieve us of all debts to our suppliers, and workers and void the UAW contract.
We appreciate you setting up the laws like this for us and giving us this win win. Looking back we really aren't even sure why we foolishly were asking for the loan in the first place.
We will now open back up under a new name free of all financial burden.
Best of luck at election time explaining this to your now unemployed voters.
Sincerely
The big 3.
We find it intresting that you are threatening the United States congress into giving you taxpayer money. Also intriguing is that it is you that brought this on yourselves and yet 2 weeks ago, you came here without even so much as a coherent plan to return quickly to profitability or even how you plausably plan to compete in the US automotive market.
Allow us to point out that over the past decade, you put almost every resource you could muster into producing large trucks and SUVs without even the slightest forsight into what would happen to you and your cash flow in the event fuel prices suddenly increased or the economy suddenly went into recession. In the past, you had a wide distribution of resources to cover all bases. This time you didn't.
If you are at a point where you need money today or you'll go under, we have to wonder what good taxpayer money would do. There is obviously a serious problem. Despite the fact you say you are at the verge of collaspe, your CEOs still get paid generiously and make bonuses and fly in a jet from a corperate fleet.
As for a win-win situation, let me remind you that in a case like this, the federal government does in fact have other tools at it's disposal. If it's deemed as the cheaper of options and a issue of national importance, instead of being responsible for pensions in the event any of you crashes, we can go to court and put one of you under recievership. We would then appoint an oversight board to take over and remove every single upper management and board member. We would then hire an all team to manage whichever of you we felt necessary to take this extreme step.
Again, let us remind you this can be done for a fraction of the cost of pensions. Also keep in mind, the bigger of you (lets say..GM for example) has a market value at the moment is less than a used Navy F16. The return for the taxpayer in simply taking over would alone make it tempting in this day of huge federal budget deficits.
We only need to do take this step with one of you, and I think the other 2 will get the message.
We look forwards to seeing you this Thursday and Friday so we can convince the voters (nearly 2/3s of them buying imported cars instead of American made models) that the American car industry is ready to survive.
Get some rest. You got a long drive ahead of you.
Sincerly
Congress.
Last edited by guionM; 12-02-2008 at 04:20 PM.
12-02-2008, 07:10 PM
#10
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Join Date: Jun 2000
Location: SoCal
Posts: 3,463
Dear Big 3:
We find it intresting that you are threatening the United States congress into giving you taxpayer money. Also intriguing is that it is you that brought this on yourselves and yet 2 weeks ago, you came here without even so much as a coherent plan to return quickly to profitability or even how you plausably plan to compete in the US automotive market.
Allow us to point out that over the past decade, you put almost every resource you could muster into producing large trucks and SUVs without even the slightest forsight into what would happen to you and your cash flow in the event fuel prices suddenly increased or the economy suddenly went into recession. In the past, you had a wide distribution of resources to cover all bases. This time you didn't.
If you are at a point where you need money today or you'll go under, we have to wonder what good taxpayer money would do. There is obviously a serious problem. Despite the fact you say you are at the verge of collaspe, your CEOs still get paid generiously and make bonuses and fly in a jet from a corperate fleet.
As for a win-win situation, let me remind you that in a case like this, the federal government does in fact have other tools at it's disposal. If it's deemed as the cheaper of options and a issue of national importance, instead of being responsible for pensions in the event any of you crashes, we can go to court and put one of you under recievership. We would then appoint an oversight board to take over and remove every single upper management and board member. We would then hire an all team to manage whichever of you we felt necessary to take this extreme step.
Again, let us remind you this can be done for a fraction of the cost of pensions. Also keep in mind, the bigger of you (lets say..GM for example) has a market value at the moment is less than a used Navy F16. The return for the taxpayer in simply taking over would alone make it tempting in this day of huge federal budget deficits.
We only need to do take this step with one of you, and I think the other 2 will get the message.
We look forwards to seeing you this Thursday and Friday so we can convince the voters (nearly 2/3s of them buying imported cars instead of American made models) that the American car industry is ready to survive.
Get some rest. You got a long drive ahead of you.
Sincerly
Congress.
We find it intresting that you are threatening the United States congress into giving you taxpayer money. Also intriguing is that it is you that brought this on yourselves and yet 2 weeks ago, you came here without even so much as a coherent plan to return quickly to profitability or even how you plausably plan to compete in the US automotive market.
Allow us to point out that over the past decade, you put almost every resource you could muster into producing large trucks and SUVs without even the slightest forsight into what would happen to you and your cash flow in the event fuel prices suddenly increased or the economy suddenly went into recession. In the past, you had a wide distribution of resources to cover all bases. This time you didn't.
If you are at a point where you need money today or you'll go under, we have to wonder what good taxpayer money would do. There is obviously a serious problem. Despite the fact you say you are at the verge of collaspe, your CEOs still get paid generiously and make bonuses and fly in a jet from a corperate fleet.
As for a win-win situation, let me remind you that in a case like this, the federal government does in fact have other tools at it's disposal. If it's deemed as the cheaper of options and a issue of national importance, instead of being responsible for pensions in the event any of you crashes, we can go to court and put one of you under recievership. We would then appoint an oversight board to take over and remove every single upper management and board member. We would then hire an all team to manage whichever of you we felt necessary to take this extreme step.
Again, let us remind you this can be done for a fraction of the cost of pensions. Also keep in mind, the bigger of you (lets say..GM for example) has a market value at the moment is less than a used Navy F16. The return for the taxpayer in simply taking over would alone make it tempting in this day of huge federal budget deficits.
We only need to do take this step with one of you, and I think the other 2 will get the message.
We look forwards to seeing you this Thursday and Friday so we can convince the voters (nearly 2/3s of them buying imported cars instead of American made models) that the American car industry is ready to survive.
Get some rest. You got a long drive ahead of you.
Sincerly
Congress.
Thanks for your gracious response. As of now you should have our plans in front of you and be able to look them over. As you can see we have made many concessions and deep cuts to get our business model in line with our foreign competition. Please note that much of that foreign competition has received home government help to stay competitive in the past while we labored under extensive and costly legislation. All while supporting millions of Americans and all of their pension and healthcare obligations for generations while our competitors used their lower cost production to hammer us on quality and while building cars in cheaper places without the threat of tariffs or other controls to help keep American jobs from leaving our shores.
We apologize that we didn't come as prepared the last visit. We were under the impression from watching AIG and Citigroup get bailed out that a coherent recovery plan requesting much more taxpayer funds wasn't necessary. We stand corrected.
Let us remind you again that while it may not seem like a good deal to keep up to 2.5 million Americans employed and avoid double digit unemployment rates in many sates of this country. The request we make is small in comparison during these unfortunately hard times. But if you feel like the US Govt. would be more fit to handle the automotive market please be our guest. We know of hundreds of defunct American car companies who may disagree. But we digress.
We applaud your highly political reference about our market cap and yet we can assure you that the US Military has never purchased any used fighter for front line operation like defense of this country much less an F-16. And the United States Navy doesn't fly them on front line active roles but again this is the Congress and not the Joint Chiefs of Staff in front of us. Should this really be an issue for a government whom has allegedly allowed the uncontrolled spending of $400 for a hammer and upwards of $600 for a toilet seat?
Rest assured that we will all drive to Washington from the Detroit area in our company vehicles rather than corporate jets as those are now for sale. We hear that AIG and Citigroup are interested in purchasing them as they recently got an influx of cash from their uncle....
Our last regret is not directing millions of our dollars to the campaign funds of the esteemed Senators before us as many corporations already receiving their bailout checks have done in the past. We understand that soft money would never officially influence policy decisions on this Capitol Hill but it may have made our plight and request more clear and important in the eyes of the committee.
We do look forward to seeing you all again Thursday and Friday. The Arsenal of Democracy answered Washington's call last time and we hope you'll return the favor.
Sincerely,
Not so big 2.5
12-03-2008, 09:15 AM
#14
Registered User
Join Date: Jan 2003
Location: Cleveland, OH
Posts: 176
Blaming the government for the Big Threes poor business makes no sense. As does the justification that the Big three need money because AIG and Citi got some.
Those aren't arguements, those are just baseless rants.
Those aren't arguements, those are just baseless rants.
