On Sun, 05 Dec 2010 13:05:23 -0500, aemeijers wrote:

On 12/5/2010 12:31 PM, zzzzzzzzzz wrote:
On Sun, 05 Dec 2010 06:09:41 -0500, Kurt wrote:

In ,
z wrote:


Oh, it was the Republicans who ripped GM away from its owners and gave it to
the unions. I missed that.

Of course there are other among us who would (rather cynically)
suggest that the UAW has owned GM since the mid-70s or so. I like to
agree with my area UAW buddies that GM management did indeed manage
things badly. THen mention that how they managed the unions was one of
the worst areas.

It was merely a matter of die now, at the hands of the unions, or die later at
the hands of the market. Management decided that later was a better choice.
That didn't help the bond holders much.

I wonder how many of the folks who had a large part of their retirement
in 'old' GM stock are gonna rush out to buy a new Chevy? Personally, I'd
hold a grudge over that for a LONG time. I think telling all of them
'SOL, folks!' was a sin and a PR blunder. They should have been given at
least a token payout by the judge.

None of my retirement is in old GM stock, or bonds (that I know of), and I
won't buy another Chevy (only had one, though). The judge wasn't.