What Happens If The UAW And GM Bleed So Much Cash Fighting That They Have To Ask For Federal Bailouts?

What Happens If The UAW And GM Bleed So Much Cash Fighting That They Have To Ask For Federal Bailouts?
Analysts have estimated the ongoing UAW strike is costing GM over $100,000,000 a day. No telling the estimated cost for the UAW after worker healthcare premiums fell in their lap last week. The stakes are high and the Michigan economy is literally on the line.

While both of these parties are deadlocked and bleeding cash at an astronomical rate, it made me wonder just how deep are these coffers? Can both of them weather a strike for more than a few weeks? If so, at what cost?

Several weeks will certainly tank the Michigan economy costing thousands of innocent families their livelihood. And for what when it come to the big picture?

But the scariest thing I can think of is that one or even both bleed too much cash and ask a federal bailout to recover. If THIS occurs would you be willing to help or let those too big to fail flounder in their own greed?

 

 



rockreidrockreid - 9/25/2019 1:24:40 PM
-5 Boost
Then they would be better than our current farmers. The GM/Chrysler bailout 10 years ago paid out $80 bill and after the auto makers paid back the loans and the gov divested the whole thing lost about $10 Bill. Currently our farmers are on the hook for about $30 Bill and we will never see this money again. Btw, this farmer bailout payout is climbing fast- another round of payouts is coming.


trboaccordtrboaccord - 9/25/2019 2:14:53 PM
+8 Boost
GM never paid back anything


TruthyTruthy - 9/25/2019 3:41:18 PM
-5 Boost
GM did pay back the loans totally $6.7 billion, ahead and in full. There were tens of billions in TARP funds used as well that were mostly converted to equity after GM declared bankruptcy. The government eventually sold this in 2015.
GM should pay this $10.2 billion back as soon as tRump pays back the billions he owes from his four bankruptcies.


rockreidrockreid - 9/25/2019 2:23:26 PM
-4 Boost
Do we let the farmers goi into the history books?


SanJoseDriverSanJoseDriver - 9/25/2019 2:50:38 PM
-7 Boost
Given none of them paid us back on the last bailout, cut them loose.

Let Tesla take over their assets and open Gigafactory 5 in Detroit.


TruthyTruthy - 9/25/2019 4:18:07 PM
+8 Boost
SanJose, GM actually makes a profit from the manufacturing of automobiles. Tesla, does not.


SanJoseDriverSanJoseDriver - 9/26/2019 11:38:02 PM
-6 Boost
Actually, it looks like they are going to hit an all time sales record this quarter based on info released today.


edwardfrancisedwardfrancis - 9/27/2019 2:05:08 AM
+1 Boost
I understand your point, but I seriously doubt Tesla wants a Detroit union workforce. They would be right where GM is by 2025: STRIKE!!


SanJoseDriverSanJoseDriver - 9/27/2019 5:52:16 AM
-6 Boost
Oh hell no, but they could renovate the factory and start hiring from square one like they did in Fremont. Stock options and higher pay might be enough incentive to keep employees from unionizing.


Vette71Vette71 - 9/25/2019 5:33:01 PM
+8 Boost
As long as GM has to have the UAW it will be a troubled company. Better to do a prearranged bankruptcy sale to a non-UAW auto company. That bankruptcy would void the UAW contract. The new owner could offer non union jobs at employee costs similar to the southern USA transplants. The Michiganders would have jobs, just not at the high cost to the firm that the UAW demands. The famous Lee Iacocca retort to the UAW when they were after $21/hr. "I've got lots of jobs to offer at $17/hr, but none at $21." Nobody can afford the UAW anymore.


MDarringerMDarringer - 9/25/2019 8:14:05 PM
+6 Boost
Bail out GM if it kills the UAW.


skytopskytop - 9/25/2019 9:20:30 PM
+7 Boost
Isn't that the loaded cash box the Chinese gave to Hunter Biden for his corrupt deal with is criminal father Jerky Joe Biden?


TruthyTruthy - 9/25/2019 10:08:18 PM
-6 Boost
Drinking the Kool-Aid I see.


MDarringerMDarringer - 9/25/2019 11:15:09 PM
+3 Boost
No just telling the TRUTH, Fakey.


ricks0mericks0me - 9/25/2019 9:45:32 PM
+1 Boost
skytop: laugh my ass off


TomMTomM - 9/26/2019 5:57:27 AM
+3 Boost
GM now sells more vehicles outside he USA - and likely makes more of them outside the USA as well.

In corporate structure - the US manufacturing is incorporated separately and wholly owned by the parent company

The UAW could succeed in getting GM to simply ELIMINATE US production - by liquidating the US manufacturing arm - and the UAW will not let it go that far
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