 OT: Saab filed for bankruptcy, Sign of the times. |
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| Mark Henry |
 Dec 19 2011, 11:47 AM
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that's what I do!  Group: Members Posts: 20,065 Joined: 27-December 02 From: Port Hope, Ontario Member No.: 26 Region Association: Canada  |
Swedish carmaker's Chinese investors fail to take over former GM company. Too bad, nice car at one time (Saab 99), but they couldn't compete. http://www.cbc.ca/news/world/story/2011/12...bankruptcy.html |
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| rick 918-S |
Dec 22 2011, 08:24 AM
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Hey nice rack! -Celette Group: Members Posts: 21,011 Joined: 30-December 02 From: Now in Superior WI Member No.: 43 Region Association: Northstar Region 
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Come on.. Ford? They were in trouble. They chose to not take the bail out. Come on. House fires? We have laws to help companies in trouble. They were put in place because when all citizens or companies were in financial trouble their creditors could and would come and put them out on the street. Why are we re-writting history? Is GM any stronger? Did they lean out? Are all the unaffordable contracts that were negociated during good times still in place? Come on, Employees have no role here? Do you see private industry needing bailouts. I think everyone working for GM and Chrysler had a shared responsability.
As I posted my opinion is Saab was a dumping ground for GM debt. What about their employees. Why don't we run in there in our santa suit and toss them a couple hundred billion of China's money. One of the first lesson's I learned in business school is you can't borrow yourself out of debt. That goes for the smallest business' and the largest governments. And you certainly don't borrow money from someone that doesn't own the money they are giving out. |
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| brp986s |
Dec 22 2011, 11:41 AM
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Member Group: Members Posts: 434 Joined: 27-September 07 From: los angeles Member No.: 8,167 |
QUOTE(rick 918-S @ Dec 22 2011, 06:24 AM)  And you certainly don't borrow money from someone that doesn't own the money they are giving out. I'm with you up to there. If I obtain a mortgage, I'm looking for the cheapest money around. If it comes from a bank, it's not the bank's own money they are lending. It's from investors. Now, if you are arguing against fractional reserve banking, especially in terms of the Federal Reserve/GSEs/FDIC - hoo boy, that is a whopper. I very much recommend reading "The Creature from Jekyll Island" to everyone. It is the history of banking (especially the Federal Reserve) and how money relates to significant events in history. Which is to say, history itself, b/c it's all about money. Very entertaining. |
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Posts in this topic
Mark Henry OT: Saab filed for bankruptcy Dec 19 2011, 11:47 AM
flipb Been hoping against hope that they'd somehow s... Dec 19 2011, 12:00 PM SirAndy Saab filed for bankruptcy
What a surprise, didn... Dec 19 2011, 12:02 PM
Mark Henry
Saab filed for bankruptcy
What a surprise, didn... Dec 19 2011, 12:16 PM zymurgist Saab will be missed. Saab and Porsche both looked... Dec 19 2011, 12:02 PM r_towle I am kind of curious.
What happens to the new cars... Dec 19 2011, 12:48 PM minnesota loon I have 2008 2.0 turbo sport combi. I love it fast ... Dec 19 2011, 01:29 PM rick 918-S This is what should have happened to GM and Chrysl... Dec 19 2011, 01:38 PM Elliot Cannon
This is what should have happened to GM and Chrys... Dec 19 2011, 03:45 PM DBCooper
This is what should have happened to GM and Chry... Dec 19 2011, 05:06 PM rick 918-S
[quote name='Elliot Cannon' post='1591490' date='... Dec 19 2011, 08:11 PM DBCooper I started with Saab in a Type 96 and loved that ca... Dec 20 2011, 05:49 PM eric914
[quote name='Elliot Cannon' post='1591490' date='... Dec 22 2011, 09:03 AM DBCooper
With that thinking our government should never le... Dec 22 2011, 01:20 PM Vacca Rabite I'm closing this up.
If you have beef, you kno... Dec 22 2011, 04:01 PM 76-914 Yep, fine car. My wife and I had a 95 9000CSE Aero... Dec 19 2011, 02:19 PM eric9144 I'm surprised, that you guys are surprised...
... Dec 19 2011, 02:46 PM somd914
Saab has always been an "odd" make tha... Dec 19 2011, 05:55 PM zymurgist ILBT :popcorn: Dec 19 2011, 03:04 PM rick 918-S I'm spectulating here but I can only imagine t... Dec 19 2011, 03:30 PM RobW Cool cars back in the day. A maintenance nightmare... Dec 19 2011, 06:09 PM championgt1 :agree: Well said Rick. Dec 19 2011, 09:46 PM veltror Perhaps you guys need to read what happened to BLM... Dec 20 2011, 01:06 PM rick 918-S Just another Saab story. Same old thing. Save me, ... Dec 20 2011, 08:56 PM DBCooper How about the innocent stock holders. The investor... Dec 21 2011, 11:46 AM maf914 I had read that GM blocked the sale of SAAB to the... Dec 21 2011, 08:59 AM Elliot Cannon :agree: If you let a large company like GM go un... Dec 21 2011, 12:50 PM rick 918-S That's ok, you as an employee can loose as muc... Dec 21 2011, 02:36 PM Elliot Cannon
That's ok, you as an employee can loose as mu... Dec 21 2011, 05:12 PM 02loftsmoor Goverment Morors is the ones that ran SAAB into th... Dec 21 2011, 02:42 PM Scott Schroeder Rick -
You are not heartless - you are a realist t... Dec 21 2011, 06:16 PM Smitty911 Well we have come half circle from "Ask not w... Dec 21 2011, 06:25 PM Steve I have worked in manufacturing, but I have never w... Dec 21 2011, 06:51 PM rick 918-S I'm not sayin all union workers are slackers b... Dec 21 2011, 07:12 PM Elliot Cannon
I'm not sayin all union workers are slackers ... Dec 22 2011, 12:10 AM eric914
[quote name='rick 918-S' post='1592890' date... Dec 22 2011, 09:21 AM J P Stein
Cant argue with a certain % of any group being ba... Dec 22 2011, 09:55 AM DBCooper
On you dime. Like that? You and me bailed out the... Dec 22 2011, 07:30 AM flipb GM is simply better at finding investors than your... Dec 21 2011, 08:45 PM somd914 But will anything really change in the long run? ... Dec 21 2011, 09:01 PM |
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