(04-07-2012 11:29 AM)RobertN Wrote:  

(04-07-2012 11:03 AM)smn1256 Wrote:  

(04-07-2012 10:44 AM)Max Power Wrote:  

(04-07-2012 10:27 AM)smn1256 Wrote:  

(04-07-2012 10:19 AM)Max Power Wrote:  Pretty much not without going to Chapter 7 liquidation which would have killed our auto industry.

Come on Max, you're a smart guy, do you really think Americans would have stopped buying cars if GM went bankrupt? I would argue that GM would have came out even stronger because they would have to run lean and produce quality cars that can compete with Toyota and Honda and Mercedes and Lexus.

Of course Americans would have continued buying cars, from foreign car makers so the profits flow back overseas. GM wouldn't have come out of Chapter 7 because that's liquidation; GM literally gets sold off piece by piece so there is no GM left.

No, that's not the way it would have happened. GM's debt would have been restructured, the unions would have their contracts torn up, but the company would have survived.

And what's wrong with profits flowing overseas? I thought corporate profits were a bad thing? So if profits are bad, then let the Japs deal with it. You libs are all against big corporations but you chose to save this one and you fight like hell to defend this decision, why? Politics, that's why.

So you are an expert on bankruptcies? Not to be disrespecful here(well, yes I do ), seems to me that a lawyer would know a bit more about bankruptcies than some guy that works at a cable company.

No, Rob, I am not an expert on bankruptcies, but having avoided one my whole life it would seem to make me an expert on how not to go bankrupt, i.e. don't spend what you don't have. Obama and Co should heed that advice.

(04-07-2012 11:03 AM)smn1256 Wrote:  

(04-07-2012 10:44 AM)Max Power Wrote:  

(04-07-2012 10:27 AM)smn1256 Wrote:  

(04-07-2012 10:19 AM)Max Power Wrote:  Pretty much not without going to Chapter 7 liquidation which would have killed our auto industry.

Come on Max, you're a smart guy, do you really think Americans would have stopped buying cars if GM went bankrupt? I would argue that GM would have came out even stronger because they would have to run lean and produce quality cars that can compete with Toyota and Honda and Mercedes and Lexus.

Of course Americans would have continued buying cars, from foreign car makers so the profits flow back overseas. GM wouldn't have come out of Chapter 7 because that's liquidation; GM literally gets sold off piece by piece so there is no GM left.

No, that's not the way it would have happened. GM's debt would have been restructured, the unions would have their contracts torn up, but the company would have survived.

And what's wrong with profits flowing overseas? I thought corporate profits were a bad thing? So if profits are bad, then let the Japs deal with it. You libs are all against big corporations but you chose to save this one and you fight like hell to defend this decision, why? Politics, that's why.

I've explained why you're wrong in detail here (I thought it was sufficiently important for its own thread):

http://csnbbs.com/showthread.php?tid=565077

I said corporate greed is a bad thing. I'd rather we achieve a better balance in profits between the corporations themselves and the people who work for them but either way is better than it flowing overseas; balance is important but I do also like keeping capital here in America.

Quote:No, Rob, I am not an expert on bankruptcies, but having avoided one my whole life it would seem to make me an expert on how not to go bankrupt, i.e. don't spend what you don't have. Obama and Co should heed that advice.

No you're not an expert on bankruptcies; it is a very complicated area of the law that you probably don't know the first thing on but that doesn't stop you from commenting.

There are many many differences between you and the United States of America, just for starters: you're not a country with your own printing press and when you spend money it doesn't increase your own revenue, you suck and America doesn't. ;-D

(04-07-2012 03:56 PM)RobertN Wrote:  I ridicule morons for stupid comments.

I haven't seen those threads where you ridicule yourself. Guess I need to look a bit harder.

But your presence here at least is comedy gold, watching the lightest weight on the board call everybody else stupid. I always need a good chuckle on Mondays.