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View Diary: Abbreviated Pundit Round-up (38 comments)

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  •  does Dionne have it right? (0+ / 0-)

    His column today is about the success of the GM bailout and more.  

    I take it somewhat further in this diary which I invite you to read

    peace

    "what the best and wisest parent wants for his child is what we should want for all the children of the community" - John Dewey

    by teacherken on Mon May 09, 2011 at 04:31:12 AM PDT

    •  I don't know, does he? (0+ / 0-)

      You have to presume that the current outcome is better than would have otherwise occurred and that it will continue to be so.

      Kind of hard to know - especially when you consider that there are * ahem * other car manufacturing entities and that GM would have gone through bankruptcy and reorganized anyway.

      The impact of the GM bailout is vastly overhyped.
      GM is a shell of its former self (many dealerships gone, Pontiac, Saturn, and Hummer gone -- and that's not including the shutdown of Oldsmobile in 2004).

      A far cry from the days when it controlled more than 50% of the US car market.

      Having ditched brands and models, its sales rebounds still lag those of Ford, which did things the old-fashioned way: develop better products and sell them.  And that's from a low-point when buyers were staying away in droves because of uncertainty over GM's future and what it might mean to the value of GM cars, warranties, and parts availability.

      LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

      by dinotrac on Mon May 09, 2011 at 05:05:12 AM PDT

      [ Parent ]

      •  GM is a shell of it former self (1+ / 0-)
        Recommended by:
        Mistral Wind

        Nothing wrong with that, getting rid of lines that were nothing but a different name plate on the same car promoted by the same company, or, like the Hummer, a really bad idea of a vehicle that has no place in a fuel efficient world.
        Had it gone through bankruptcy, the same thing would have happened, so I'm not sure what you're complaining about.
        GM posted the biggest quarterly profit since 2004 in August of 2010, millions of jobs were saved and the company is healthy again. What's to complain about?

        How come the dove gets to be the peace symbol? How about the pillow? It has more feathers than the dove and doesn't have that dangerous beak. Jack Handey

        by skohayes on Mon May 09, 2011 at 06:29:12 AM PDT

        [ Parent ]

        •  I agree. And well earned by decades of bad (0+ / 0-)

          management.

          I don't know where you get this "millions of jobs were saved" bit.

          Millions of jobs were NOT saved because:

          1. There weren't millions to save.  The entire auto industry employed about 3.2 million people in 2010, 80% of who worked for auto dealers and auto parts dealers.  Those folks sell a wide variety of brands and would continue to do so.  GM has been shrinking steadily from its peak of 349,000 jobs worldwide to 209000 in 2010.  More than 30,000 GM workers lost their jobs as part of the reorganization and restructuring that came with the bailout. Would more jobs have been lost with an ordinary bankruptcy?  Who knows.

          2.  Jobs are driven by building and selling cars, and without sales, those jobs are ultimately lost anyway.  People who would buy cars would buy them anyway. Ford and Chrysler are likely beneficiaries, as are the many US-based manufacturing arms of foreign-based car companies.

          LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

          by dinotrac on Mon May 09, 2011 at 06:53:46 AM PDT

          [ Parent ]

          •  hey, welcome back, dino (1+ / 0-)
            Recommended by:
            dinotrac

            how ya been?

            Nonetheless, jobs were saved ans the money will be paid back..

            'Good deal.

            "Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." - Groucho Marx

            by Greg Dworkin on Mon May 09, 2011 at 07:37:31 AM PDT

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            •  Pretty well. (1+ / 0-)
              Recommended by:
              DemFromCT

              Life is hectic as I work now on a temporary job (but one that pays reasonably well, albeit without benefits) that requires me to go into Chicago a couple of times a week.

              Also fighting off all the wolves that have lined up over the last couple of years.

              So much better now, though --

              At least now I have a basis for getting past all those "unemployeed, esp. long-term unemployed, need not apply mentalities".

              Hope you're doing well.

              LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

              by dinotrac on Mon May 09, 2011 at 07:43:43 AM PDT

              [ Parent ]

            •  Oh -- as to GM bailout. (1+ / 0-)
              Recommended by:
              DemFromCT

              Maybe jobs were saved and maybe they weren't.
              At least the deal hasn't turned out horribly, and that's a good thing.

              We'll know the real answer 10 years from now.

              LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

              by dinotrac on Mon May 09, 2011 at 07:44:46 AM PDT

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              •  converting the grouchy indies (0+ / 0-)

                one at a time...   ;-)

                "Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." - Groucho Marx

                by Greg Dworkin on Tue May 10, 2011 at 05:25:38 AM PDT

                [ Parent ]

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