tag:blogger.com,1999:blog-7321349.post1001454464735765092..comments2024-03-18T22:21:33.261-07:00Comments on The Debate Link: Delaying the Inevitable is a Good ThingDavid Schraubhttp://www.blogger.com/profile/04946653376744012423noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7321349.post-3505503398723957702008-11-19T16:39:00.000-08:002008-11-19T16:39:00.000-08:00If anything, that seems to be an argument for a go...If anything, that seems to be an argument for a government managed bankruptcy, not a $25 billion payout in order to maintain the status quo for 6 months.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7321349.post-74971497407177350672008-11-19T15:30:00.000-08:002008-11-19T15:30:00.000-08:00Assuming it could go Chapter 11 instead Chapter 7 ...Assuming it could go Chapter 11 instead Chapter 7 -- uncertain in this climate.David Schraubhttps://www.blogger.com/profile/04946653376744012423noreply@blogger.comtag:blogger.com,1999:blog-7321349.post-59704199662780431922008-11-19T15:19:00.000-08:002008-11-19T15:19:00.000-08:00Not only would a bailout be a massive upward trans...Not only would a bailout be a massive upward transfer of wealth (the average GM worked makes something on the order of $70k a year counting benefits - well above the national average), but declaring bankruptcy isn't even the major catastrophe that people make it out to be. Through bankruptcy GM would be able to restructure its labor contracts, clear out its management, and actually have a chance of competing with foreign owned car manufacturers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7321349.post-6631341694126648462008-11-19T10:22:00.000-08:002008-11-19T10:22:00.000-08:00But we can create other jobs. If you have $25 bill...But we can create other jobs. If you have $25 billion that you're ready to sink into the Big Three and never see again just so people have jobs for the next two years, I can come up with lots of ways to spend that money that will employ people and give us a return on the investment. Put those with some engineering experience to work in vocational schools, training kids who aren't very academically inclined in basic skills for industry. Help them relocate to Mississippi, where Toyota is still opening a new plant despite the economic downturn. Hell, create incentives (tax breaks? government-provided health insurance for workers?) for <I>successful</I> corporations to set up shop in Michigan. <BR/><BR/>If we are merely delaying the inevitable until the overall economy is back up, what exactly is going to ensure that Michigan's economy specifically will have jobs for the workers the Big Three will slough off as they go into that inevitable bankruptcy?<BR/><BR/>I'm not categorically opposed to a bailout, but I'm not OK with one that simply puts Michigan in a holding pattern for a couple of years while nothing changes.PGhttps://www.blogger.com/profile/09381347581328622706noreply@blogger.com