Ferrari Mailing List: Re: Interesting article on a previous topic

(continued)

Jim,

You are 100% correct.  This has been a "reward" to everyone who donated 

big bucks to the Obama campaign and other Democrats ... this just in ...

UAW trust to get 17.5 percent of GM shares

By TOM KRISHER

Associated Press Writer

DETROIT (AP) - General Motors Corp. will give the United Auto Workers 

union 17.5 percent of its common stock, $6.5 billion of preferred shares 

and a $2.5 billion note to fund a trust that will take over retiree 

health care costs starting next year.

GENERAL MTRS CORP

Stock Ticker Chart 

<http://channels.isp.netscape.com/pf/chart_quote.jsp?TickerSymbols=GM>

NYSE:GM
Updated: 14:02 ET
1.63  +0.20

The funding for the trust is outlined in a summary of concessions that 

the company and union have agreed to as GM tries to restructure outside 

of bankruptcy.

The summary was obtained Tuesday by The Associated Press.

The information contained In this news report may not be published, 

broadcast or otherwise distributed without the prior written authority 

of The Associated Press.

Jim Conforti wrote:

At 10:50 AM 5/26/2009, Michael James wrote:

I was referring to the initial situation prior to the bailout fund 

offerings - whereas, the Govt. does absolutely nothing, and 'the 

marketplace' decides whether you live or die.  In such an 

environment, GM would be DEAD, Chrysler DEAD, end-of-story.

  Actually they wouldn't be.

  They would have filed Chapter 11, gotten RID of the unions
  weighing them down, and reorganized.  Some brands would have
  gone, some stayed - in the end - the exact same thing that is
  going to happen NOW - MINUS:

  1) Government "control"

  2) Taxpayer dollars en masse.

  Something ALL the big government socialist liberals fail to comprehend:

  Capitalism, like the human spirit it's wrought of, and like the
  science of Physics - JUST IS.

  Current Government "intervention" has in fact simply been a massive
  wealth transfer from the stock/bondholders of those corporations
  and the taxpayers-at-large to the UAW.

  Nothing more, nothing less.

  Jim Conforti

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Re: Interesting article on a previous topic	<– Date –> <– Thread –>
From: Brian E. Buxton (BrianBuxtonBuxtonMotorsports.com)
Date: Tue, 26 May 2009 11:20:11 -0700 (PDT)