Comments on: GM: “It’s a bridge loan not a bailout, stupid!” http://www.redstate.com/bk/2008/11/19/gm-its-a-bridge-loan-not-a-bailout-stupid/ Tue, 10 Jan 2012 21:55:43 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: James_Reynolds http://www.redstate.com/bk/2008/11/19/gm-its-a-bridge-loan-not-a-bailout-stupid/#comment-8 James_Reynolds Wed, 19 Nov 2008 11:25:34 +0000 #comment-8 <p>and restructure. It is the only way they can have a chance, otherwise the same issues will plague them (high cost of retirees and pointless jobs aimed at increasing union rolls). I have no problem if we do what other investors do with bankrupted companies and offer to bankroll them after seeing their restructure. This would create a smaller loan that is acceptable by many, reduce overhead, make them competitve and make it possible to repay the loan.</p> and restructure. It is the only way they can have a chance, otherwise the same issues will plague them (high cost of retirees and pointless jobs aimed at increasing union rolls). I have no problem if we do what other investors do with bankrupted companies and offer to bankroll them after seeing their restructure. This would create a smaller loan that is acceptable by many, reduce overhead, make them competitve and make it possible to repay the loan.

]]> By: bk http://www.redstate.com/bk/2008/11/19/gm-its-a-bridge-loan-not-a-bailout-stupid/#comment-7 bk Wed, 19 Nov 2008 09:26:44 +0000 #comment-7 <p>GM's attitude seems to be: "We've done everything perfectly, but due to global issues outside our control we need a bridge to get to 2010 when Utopia will return."</p> GM’s attitude seems to be: “We’ve done everything perfectly, but due to global issues outside our control we need a bridge to get to 2010 when Utopia will return.”

]]> By: shawng http://www.redstate.com/bk/2008/11/19/gm-its-a-bridge-loan-not-a-bailout-stupid/#comment-6 shawng Wed, 19 Nov 2008 08:22:14 +0000 #comment-6 <p>And the jobs will still be lost. The lenders will still treat it as a partial bankruptcy. UAW will keep it's bloated package that is exasperating the issue. And the Detroit Three will not restructure even though they <em>have</em> to to survive.</p> <p>A band-aid over a gunshot wound by any name is a band-aid over a gunshot wound. That is to say, an utterly inadequate and idiotic solution.</p> And the jobs will still be lost. The lenders will still treat it as a partial bankruptcy. UAW will keep it’s bloated package that is exasperating the issue. And the Detroit Three will not restructure even though they have to to survive.

A band-aid over a gunshot wound by any name is a band-aid over a gunshot wound. That is to say, an utterly inadequate and idiotic solution.

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