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Old June 2nd, 2009, 11:32 AM   #1
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Talking Larry Winget's view

From his blog - in part:

GM files bankruptcy. Good. This is exactly what should have happened in the first place. We were all told by both political parties that it just couldnít be allowed to happen and that bankruptcy was not an option. Obviously it was an option after all. I was on FOX News several times saying that bankruptcy was the mechanism put in place by our government to handle companies that couldnít figure out how to run profitably.

Example: Letís say you run a sandwich shop where you make shit sandwiches and charge $200 each for them. But you donít really run your company; you let union sandwich makers run your company for you and they charge you $200 an hour to make your sandwiches even though there is plenty of available labor right outside your door ready to make your sandwiches for only $15 an hour.

Add to this the fact that the shit for your sandwich comes mostly from your biggest enemies and when you buy their shit, you only increase your dependence on your enemy as well as fund them. Then you suddenly realize that no one actually likes shit sandwiches and that no one wants to buy them and to top it all off, no one can afford to buy your sandwiches made of shit!

The result of your bad management and your stupid pricing and your product that no one wants or likes is that you lose money and get in serious financial trouble.

Why is it up to me to give you money to keep making shit sandwiches that no one wants and no one can afford? Answer, it isnít! I donít want your shit. I donít like your shit. I donít want to give you my money so you can keep making your shit. Keep your shit to yourself because I ainít buying your shit any more!

Explain this to your kids. Teach them the importance of providing a service that people want and can afford. In other words, teach them to be smarter than GM.

There you go Ė Iím done! Have a field day with this one!
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Old June 2nd, 2009, 11:34 AM   #2
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great read.
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Old June 3rd, 2009, 02:40 PM   #3
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Default Hmmmmm




About sums it up
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Old June 3rd, 2009, 02:51 PM   #4
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If you don't bail out a bank and it fails the gov is on the hook for 100k FDIC . . I think 250k now but not positive

If you don't bail out a company and it fails you only have to pay unemployment for 6 months . . .




and you wonder why things happen the way they did.
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Old June 4th, 2009, 12:00 AM   #5
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Quote:
Originally Posted by Chiefwoohaw View Post
If you don't bail out a bank and it fails the gov is on the hook for 100k FDIC . . I think 250k now but not positive

If you don't bail out a company and it fails you only have to pay unemployment for 6 months . . .




and you wonder why things happen the way they did.
wat?
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Old June 4th, 2009, 12:35 AM   #6
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Chief, are you trying to say that if they allowed the banks to fail. Us tax payers would have been only responsible for each depositor's bank account up to the first 100K, which was increased to 250K?

And if we didn't bail out the auto companies, Us tax payers would have only paid for 6 months of unemployment?

Is that what you are trying to say?
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Old June 4th, 2009, 08:00 AM   #7
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Pretty much. The Auto Industry would and will have a HUGE trickle down effect do to all the suppliers but it's not as if DC cares about americans with real jobs. As long as their money is "magically safe" they are cool with screwing the rest.

I say majic because that's what they are using right now to make us feel safe. . . you can't print the $ to extinction. So they would must rather pay for unemployment and kick them out on the street then be on the hook for FDIC.
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Old June 4th, 2009, 04:01 PM   #8
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Chances are Chrysler and GM wouldn't have gone out business even if they had filed for bankrupcy before the bailout.
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Old June 4th, 2009, 04:08 PM   #9
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I Just hope that Ford profits from this. Not that I'm a Ford fan, but I'm just hoping that an American based company can fill the gap.
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