I’m not arguing that they (GM) do not need to restructure, I’m saying give them and all of us a chance to either regroup or refocus. I would not be as willing to give GM more money in the future, if they piss away this opportunity then shame on them. But right now why does a loan offend you so much? We gave banks 750 billion and all they do is push paper. What is wrong with a one time 10-15 billion dollar loan. I deal with a 20-30 suppliers in my day to day, in talking to them, NOT a article in a bias paper, if just GM declares bankrupsy before the new year 12 say they will HAVE to declare before the end of January. The people i talk to have 10-20 people working for them. Small business to the extreme.
Maybe you do not know how the big three pay people… Here is a lesson. Lets say you are making a part for one of them, and that part you make you can produce 1,000 per day at lets just say $5 each. You ship 5,000 ($25,000) on this Friday you have to pay your employees NEXT week, it’s law not an option. They will not pay you until February 12 2009. None of the big three will. How do you think companies can survive when a majority of companies make several parts just like this. Your company making just one part for $5 each stands to lose $225,000 due to them declaring bankruptcy. This is money you have already paid to your employees, money in limbo. Companies will die and die fast. I am fortunately not in one of those companies any longer but you have to know all the facts before you make a decision. That is a fact.
This is prime time to take over parts of GM. They said they are willing to sell, Pontiac, Saab, Hummer ect… If there were people that wanted to make cars on a bigger scale why would they not buy what is available. I’d bet a foreign company would buy brands of GM before an American. What company will be able to JUMP RIGHT IN and keep hundreds/thousands of suppliers going, Honda, Toyota??? Why are you so willing to gamble with other people’s lives? OHHH! because it’s not yours. Generation “ME” at it’s best…
Bringing intelligence into a debate is just stupid and it simply makes me lose respect for you.
*edit it’s net 60, I calculated net 90…