Chrysler employees caught drinking, using drugs, on their break

The stock owners either still own stock or they sold it. If they kept the shares, they own precisely the same number of shares as they did before and if the total number of shares is the same, they own precisely the same percentage of the company as they did before.

Considering what happened to the stock just before the bailout, I wouldn't be surprised if most of the 'legitamate shareholders' bailed before the bailout. They weren't forced to sell their stocks.

They didn't get screwed out of anything, except by GM itself. GM tanked their shares, not the GVT. If the GVT came in and bought the shares that Joe and Anne Blo were selling then that's too bad for Joe and Anne, ain't it.

GM_10Years.jpg
 
and fun part, you actually believe that
sometimes I'm jealous of you Liberals
oh how blissful it must be to live
in fantasy land...

I'll try again

who currently owns GM?
 
The US Treasury will initially own 60% of the "New GM," while the Canadian and Ontario governments together have 12% in exchange for $9.5 billion in financing. The United Auto Workers' health care trust fund owns 17.5% and the remaining 10% is owned by unsecured creditors in the form of bondholders, they're also being given warranties for a further 15%. We realize that this only adds up to 99.5%, we're assuming some rounding knocked off that last half percent.

who_owns_GM.jpg


A Vicious and decisive strike towards communism!!
percentage%20of%20american%20companies%20owned%20by%20the%20united%20states.png
 
When a company files for bankruptcy protection, the idea is to take all of its assets and use them to pay off as many of the company’s debt as possible. The remaining debt is wiped out, which gives the company a “fresh start.”

The bankruptcy process is designed to decide who gets paid — and how much. The list includes everyone from parts suppliers who haven’t been paid to investors who bought bonds that are backed by specific assets. In this case, the U.S. government is also looking to get paid back the tens of billions of dollars of taxpayer money it lent GM to keep it afloat while the company tried to come up with a plan to avoid bankruptcy.
Unfortunately, common stockholders are at the very back of the line. And according to its bankruptcy filing, GM has just $82.2 billion in assets to cover $172 billion in liabilities. Based on those numbers, it looks all but certain there won’t be any money left over to pay existing shareholders after everyone further ahead in line has gotten their share. ( A posting on GM’s Web site put it this way: “We think it is unlikely that you will receive payment.”)

Bankruptcy sucks - still GM's fault and NOT the GVT.

Your GVT assured that the stockholders would not get as hosed as they would've been if the GVT hadn't stepped in.
 
Now you've got it right Bish

yup this is the beginning of the end of America

it was a good run
now the commies have won
have fun my Son
 
The US Treasury will initially own 60% of the "New GM," while the Canadian and Ontario governments together have 12% in exchange for $9.5 billion in financing. The United Auto Workers' health care trust fund owns 17.5% and the remaining 10% is owned by unsecured creditors in the form of bondholders, they're also being given warranties for a further 15%.
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Reconfigure that without the 60% govt numbers and see who get hosed.


MrBishop said:
Your GVT assured that the stockholders would not get as hosed as they would've been if the GVT hadn't stepped in.
Click to expand...
I guess you don't really understand the principals of a free market. It all gambling, the unions (and bureaucrats) killed the win.

So be it.
 
SOURCE

13 Chrysler Workers Caught Drinking on Their Lunch Break Are Fired

Published September 27, 2010 | FoxNews.com

Thirteen plant workers at the Chrysler Jefferson North Assembly plant in Detroit have lost their jobs after a video showing some of them drinking during their lunch break was aired on the Detroit Fox affiliate.

"It has been determined that 13 employees engaged in behavior that violated the company's Standards of Conduct and these 13 employees were discharged today," the company said in a written statement, MyFoxDetroit.com reported. "Two remaining employees will receive a one month disciplinary layoff without pay."

An exclusive investigation by MyFoxDetroit.com showed workers at the plant drinking beer and smoking joints while on a half-hour lunch break just two months after President Obama praised the plant in a speech.

The TV station's investigation -- conducted over several weeks and based on tips from workers at the plant -- had outraged the auto giant's top executives, who called the behavior "totally unacceptable."

Chrysler had told MyFoxDetroit.com it was able to identify all 15 employees captured on video and suspended them all indefinitely without pay within 36 hours of learning about the investigation's findings. On Monday, it announced it had concluded its investigation and punished the 15 workers.
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Gonz said:
You find our government seizing control of any industry acceptable?
Click to expand...

jesus, man, you might as well just start quoting the bible for fuck's sake. are you that caught up in the irrational belief that the free hand of the market will magically solve all problems? here's a shocker: it's more of a headless horseman. every once in a while, you gotta use your head to figure things out, and be a bit proactive.
 
2minkey said:
jesus, man, you might as well just start quoting the bible for fuck's sake. are you that caught up in the irrational belief that the free hand of the market will magically solve all problems? here's a shocker: it's more of a headless horseman. every once in a while, you gotta use your head to figure things out, and be a bit proactive.
Click to expand...

Thank God Russia wasn't inclined to listen to you or they would never have opened their system to capitalist ventures. They are improving their economy for the 21st century while ours is heading for 1918.
 
Give the market a free hand

The idea that the Osambo regime knows how to run things
better than the American people is indeed laughable.
 
2minkey said:
jesus, man, you might as well just start quoting the bible for fuck's sake. are you that caught up in the irrational belief that the free hand of the market will magically solve all problems? here's a shocker: it's more of a headless horseman. every once in a while, you gotta use your head to figure things out, and be a bit proactive.
Click to expand...

The free market has always worked, just like tax cuts. Can you name one successful socialist/marxist nation? See, I watch history & see what happened, what caused it & how we can not do it again. I've seen every government, given the opportunity, increase its power & overburden its citizenry. The adage is simple, given them an inch & they'll take a mile. Our nation was built on a free market & a small federal government. Regulations have chased our production away & government has burdened our great grandchilden with a mountain of debt. GM we can lose. Our economy, not so much.
 
Once again, you fail to answer the challenge. Glad to see you're only spouting liberal talking point nonsense & have no answers.
 
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