George W. Bush unique and historic opportunity - Ford Inside News Community
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post #1 of 11 (permalink) Old 12-12-2008, 10:48 AM Thread Starter
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George W. Bush unique and historic opportunity

George W. Bush unique and historic opportunity

Say what you want about president George W. Bush, the lamest duck of them all. But there are two things that no one can denny. The guys is very likable when he is not talking about serious issues that affect all of our lives, and the guy is lucky.

Bush's good luck has, during the last 8 years, given him enormous opportunities to rise to history as a great president, at least. Opportunities do do gigantic good, like the tragedy of 9-11, the tragedy of Katrina, Darfur, Tibet, Libano, healthcare and the current financial crisis among many others. With laser sharp precision our president has managed to blunder them all, or according to others intentionally sabotaged some of them.

Now fate is giving him one last opportunity to redeem himself. One of historic, almost epic, proportions. Last night a group of GOP Senators stabbed the American Automotive Industry in its very heart, placing in the president hands, in the tip of his pen, the last hope of possibly survival for Chrysler and avoidance of bankruptcy protection for GM.

The president, by executive order, can appropriate about 15 billion dollars (which is loose change compared to the over 100 billion dollars given to AIG for example) of the 700 billion dollars financial rescue package. Thus granting a new lease of life to GM and Chrysler until president Obama takes charge.

What do you think he should do? What do you think he will do?





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post #2 of 11 (permalink) Old 12-12-2008, 11:12 AM
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Re: George W. Bush unique and historic opportunity

He needs to tap the $15 Billion from the $700 Billion TARP Financial Industry Bail Out...and give it the GM and Chrysler in a Bridge Loan.

CMS still believes that Chrysler won't survive, even with the loan...but it may give Chrysler time to divest its assets properly and smoothly, so it doesn't just collapse.

Given the conditions and that the GOP in Congress have chosen to defeat the loan through a Filibuster threat, which lead to the De Facto failing of the loans...Mr. Bush has a chance to go out of office having honestly done somthing positive and helpful to the United States.

He is also more inclined now after working with Congress more since the initial idea of a "Bail-out" was thrown out. So...I hope he will come to his senses and help keep the factories in his home state of Texas, and all the plants accross this great land open and running.

GM and Chrysler need to make changes to their product lines and all maufacturers need to scale back from the Full-Size SUVs and Trucks and offer more efficient, and more fitting model vehicles for the ever changing economic conditions.

So, Mr. Bush...please, use common sense and help the Treasury to appropriate the $15 Billion needed to keep GM and Chrysler alive.

Stay Fabulous!
RG59061

Your Official Representative of the Ford Motor Company and the fine products of Ford and Lincoln for the GLBT Community.


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post #3 of 11 (permalink) Old 12-12-2008, 11:19 AM Thread Starter
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Re: George W. Bush unique and historic opportunity

The Treasury Department doesn't need help, it needs an order . . . .





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post #4 of 11 (permalink) Old 12-12-2008, 02:28 PM
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Re: George W. Bush unique and historic opportunity

I would never forgive Republicans if we loose one of the Detroit three. Why the heck do we prop up national shipyards? So that we can keep our navy supplied from here.
We need to protect our manufacturing base. I am no socialist trust you me.
We also need Congress to address our export competitiveness.


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post #5 of 11 (permalink) Old 12-12-2008, 02:32 PM
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Re: George W. Bush unique and historic opportunity

anyone mind a repost?
Quote:
Originally Posted by 2b2 View Post
my opinion about "12-11"


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post #6 of 11 (permalink) Old 12-12-2008, 02:39 PM
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Re: George W. Bush unique and historic opportunity

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Originally Posted by 2b2 View Post
anyone mind a repost?
I get it now. I think GOP is Atta and Unions are Taliban protectors. Talk of strange bed fellows.

Bond holders too need to take stock in the companies.
Its all about cleaning the balance sheets. Taking debt into equity would clean those balance sheets like today.
For a bond holder, its better than nothing. UAW I do not get their thinking.


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post #7 of 11 (permalink) Old 12-12-2008, 02:44 PM Thread Starter
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Re: George W. Bush unique and historic opportunity

Who in the current climate, under this crisis is going to liquidate that debt . . .?





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post #8 of 11 (permalink) Old 12-12-2008, 02:59 PM
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Re: George W. Bush unique and historic opportunity

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Who in the current climate, under this crisis is going to liquidate that debt . . .?
Look at this way, the bonds are worth like nothing under GAAP, they are worth under FMV almost zero.
Convert them to equity and suddenly you have an asset, not worth much but something, on your books.
If I was carrying a significant amount of GM bonds, I would be talking to them now.
Under chapter 11, the judge is like to fund VEBA and then suppliers (think their own employees) and then banks. Bonds are way down on the pecking order...


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post #9 of 11 (permalink) Old 12-12-2008, 03:01 PM Thread Starter
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Re: George W. Bush unique and historic opportunity

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Originally Posted by Tahoe View Post
Look at this way, the bonds are worth like nothing under GAAP, they are worth under FMV almost zero.
Convert them to equity and suddenly you have an asset, not worth much but something, on your books.
If I was carrying a significant amount of GM bonds, I would be talking to them now.
Under chapter 11, the judge is like to fund VEBA and then suppliers (think their own employees) and then banks. Bonds are way down on the pecking order...
I understand your point and agree with it. But my question would be, where would you find somebody insane enough to pay a cent for any of those bonds today.





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post #10 of 11 (permalink) Old 12-12-2008, 03:17 PM
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Re: George W. Bush unique and historic opportunity

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Originally Posted by SobeSVT View Post
I understand your point and agree with it. But my question would be, where would you find somebody insane enough to pay a cent for any of those bonds today.
The only person will to talk about them is GM. They can basically convert them to equity. No one else will take them.
You think GM bonds are bad? How about Chryslers? People would not even take them if you paid them to.


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