Ford, Chrysler and General Motors executives go to Washington D.C. to plead their plight for a government loan … to get them through this tough economic time .. after all it is the government and its mandates along with the Union demands that have squeezed them to this point of death.
The autocompany executives are humiliated and demeaned in the crudest way by the government .. right to the point of how dare they fly there in their corporate jets?
They are then told they will get some money from Obama … BUT… they must come up with a viable working plan to submit for his approval by such and such a date.
Chrysler and General Motors accept the deal… Ford declines saying they don’t need the money .. though Mulallay went to Wahington as a support for the other two companies.
Chrysler is given 30 days to come up with a viable “plan” for success while General Motors is given 60 days to do the same thing .. then Obama promptly fires the president of General Motors .. Rick Wagoner.
Now.. here is where Obama has taken the reins. He knows there is no way either company will produce a plan he will approve.. no matter how viable that plan is. It is his time to take over those companies… and he proceeds to do just that with Chrysler.
Chrylser becomes the prize for Gettelfinger.. president of the UAW.. no doubt for all his unfailing support of Obama. In fact .. Gettelfinger is heard saying not much later … “I just love that man “.. referring to Obama.
He should. He had just been given 55% of an auto company.
In the meantime … Obama is going to give the company to Fiat in Italy in return for the production of Fiat’s pocket cars in the United States. Never mind that the company has to go through bankruptcy proceedings. The outcome seems to be a known given to Obama before they even enter the courtroom.
In the meantime… the primary bondholders.. those investors in Chrysler… are called “vultures” by Michigan’s governor .. and worse by Obama .. are even threatehed .. by the White House … as they stand by their rights by law to be the first to be paid in the event of bandruptcy by Chrysler.
Once the bankruptcy is done.. and Obama’s control is complete..he promises Chrysler billions of taxpayer money to operate.
Now comes General Motors .. whom is due to give its “token” plan shortly. Its 60 days is about up.
The story is the UAW will get 35% of General Motors… and the government will get 50%… Obama divying up the spoils.
It will be very interesting to see the final outcome of the fate of these two companies… one the greatest auto company in the world … producing the vehicle in highest demand in Iraq.. the Hummer … even as Obama insists we will drive his pocket cars … we WILL.
Both of course would have fared better entering bankruptcy all on their own… but.. isn’t our government here to help if possible..not just mandate to death?
It is a joke.. and the reality of what this destruction of two great American auto companies has done and is doing to Michigan and the rest of the country … is completely untold.
Tell those UAW wokers out of jobs how the ownership of Chrysler helps them.
Tell General Motors workers how the takeover of General Motors will really be a good thing for them in the long run.
Arrogance. Power. Control. Greed.
It is about nothing more.
It certainly is not about Americans.
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