Quote:
Originally Posted by SteveR
Bi~Gals, as funny as that is, j0n does have a point in there. GM is burning through 2 billion every 30 days. All a 25 billion bailout is going to do is extent their demise by 12.5 months. The only way GM is going to survive is to re-org the entire company. The question becomes, can GM trim 2 billion from its monthly expenditures? The real problem GM is facing is that with an emerging global economy, the US is getting hit by the efficiency of the European Union and the way European companies operate, whereas GM is stuck in the old US mantra of excesses and overages. If they can't adapt to a more efficient way to operate, they won't survive, 25 billion bailout or not.
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Thing is, GM and the others have done some major revamping of thier business structure. They are looking at saving 20 billion a year come Jan 1st, 2010.
Where was this outpouring of emotion when AIG not only came up to the window once, BUT TWICE!! 50 billion at a clip, without questions!!
We are talking about supporting 3 million people with 1/2 what AIG has already burned through, and came back for more.
One thing I do know, is that I Bobby Menendez will not get my vote next time he is around.