[quote=SD Realtor]I know jp, I know… but printing money is… well it is to be expected.
To me this is a hell of alot more scary. Our government is taking ownership of a private company. The union who backed the current party in power, is now partial owner of that company. It is likely this will happen to another company.
Doesnt this seem kind of scary to you?
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I mean, I guess what is more scary to me is that the public, the press, well pretty much nobody is batting an eye.
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Half-baked victory for UAW:
“But when you consider the 55% is in a company that lost $16.8 billion last year and has seen its sales drop by half, the victory seems less impressive…
Plus, the union’s control in the boardroom will be limited. Despite the large stake, it gets only one seat on a nine-member board that will govern a new Chrysler-Fiat joint venture.
I think it’s a whole lot weaker than it appears,” said Gerald Meyers, a University of Michigan business professor and former CEO of American Motors Corp. ‘I would say the UAW wouldn’t want to get into the speculative game of the stock market. That’s not reassuring to retirees.’
The employees don’t own any part of Chrysler or GM, it’s the health trust, and they’re going to sell that stock as soon as they can. It’s more like somebody saying ‘I can’t pay the money I owe you, so take some stock and you can sell it.”‘
That’s exactly what the union intends to do, its president Ron Gettelfinger said Friday in an interview with National Public Radio.”
