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Important to see the big picture
Posted by Noel [Email] (more from Noel) on Fri, 6 May 2011 06:16:54
In Reply to: Car company bailouts, No Snaab, Thu, 5 May 2011 13:19:51
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The job losses, both at GM and suppliers, if GM closed entirely would have been devastating and the economy would be far worse off than it is now. The slack wouldn't have been picked up by Ford and others because there would have been too many people out of work. Many small to medium-size businesses would close, peoples' homes would be lost. Anyone who denies this has never had P & L responsibility, had to worry about making payroll every week, or had to work with bankers to keep a line of credit open to keep a business alive.
While I've never particularly liked GM products, plenty of people did. Some of its offerings were weak, and a big chunk of GM's troubles was its worn-out business model of multiple brands. OK, that's bad management, but it happens. Now, the brands have been addressed and the product mix is improving. Chrysler is a similar story, and that seems to be working out, too.
Long term, since the loans are being paid back and jobs have been retained, this has to be a good thing in the big picture.
It's fine to spout economic theory, as some in this thread do, but as times and needs change, so do the ways business and government interact. The fact is, the ways companies and governments operate are inextricably linked. It's almost a symbiotic relationship that is still evolving--for better or worse. The auto company bailout writes some new rules, but it does seem to have worked. I was skeptical when it was all going down, but it seems to be working out OK.
Posts in this Thread:
- Car company bailouts, No Snaab, Thu, 5 May 2011 13:19:51
- GM to add 4,000 jobs, duking it out with Toyota, No Snaab, Wed, 11 May 2011 07:58:09
- Important to see the big picture, Noel, Fri, 6 May 2011 06:16:54 <-- Viewing This Message
- Doubly Ironic, Reality, Fri, 6 May 2011 07:00:56
- So why don't you tell us, Noel, Fri, 6 May 2011 09:45:54
- He doesn't deal in "reality", No Snaab, Fri, 6 May 2011 11:17:12
- Re: So why don't you tell us, Reality, Fri, 6 May 2011 10:46:21
- You didn't answer the questions, Noel, Fri, 6 May 2011 11:17:54
- Re: You didn't answer the questions, Reality, Fri, 6 May 2011 11:43:04
- Re: You (still) didn't answer the questions, Noel, Fri, 6 May 2011 12:49:13
- He won't answer, No Snaab, Fri, 6 May 2011 14:12:45
- What is Heaven like?, Reality, Fri, 6 May 2011 15:04:00
- less vs more vs balance, James, Fri, 6 May 2011 15:31:40
- Balance is okay, Reality, Fri, 6 May 2011 16:10:30
- What color is the sky in your world?, Noel, Fri, 6 May 2011 16:24:48
- Blue, Black, Grey, White, Orange, Pink, Red,, Reality, Fri, 6 May 2011 16:46:55
- So without the government stepping in, Noel, Fri, 6 May 2011 19:55:24
- Re: Blue, Black, Grey, White, Orange, Pink, Red,, James, Fri, 6 May 2011 18:11:52
- False Choice, Reality, Fri, 6 May 2011 13:33:38
- Re: So why don't you tell us...Been there done that an, Joeychess, Fri, 6 May 2011 10:22:45
- That's fiscally responsible and also well stated yet, Joeychess, Fri, 6 May 2011 08:19:33
- Re: Important to see the big picture...Well said n/m, Joeychess, Fri, 6 May 2011 06:22:03
- Don't kid yourself, BTG88, Thu, 5 May 2011 21:59:15
- Gov't role in today's economy, adl6009 , Thu, 5 May 2011 19:17:20
- Ironic timing, "new" GM is caught stuffing channel, Reality, Thu, 5 May 2011 13:41:26
- Macro econ. vs the guy at the plant, AlS, Thu, 5 May 2011 18:16:21
- Keynesianism is Macro Econ, duh!, Reality, Thu, 5 May 2011 18:27:34
- "I address car topics under a different user name.", Steve T., Fri, 6 May 2011 08:02:22
- Keynes vs. Keynes..., James, Fri, 6 May 2011 06:49:05
- Re: Keynesianism is Macro Econ, duh!, kkelley, Thu, 5 May 2011 20:37:44
- Apparently stuffing the distribution channel works, Paul B., Thu, 5 May 2011 16:33:57
- Re: Ironic timing, "new" GM is caught stuffing channel, kkelley, Thu, 5 May 2011 14:50:16
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