Keith Olbermann,MSNBC,General Motors,Michael Moore,Bankruptcy Olbermann - Michael Moore Weighs In On GM's Bankruptcy

Olbermann - Michael Moore Weighs In On GM's Bankruptcy

posted by Gratefulmom

5 months 1 week ago • 369 views

tags: Keith Olbermann, MSNBC, General Motors, Michael Moore, Bankruptcy

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June 01, 2009 MSNBC Keith Olbermann

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Comments

Ironically, I think this will work in the favor of the taxpayer.

GM is not going to go under. Eventually they will pull out of bankruptcy, at which time either the union will buy the government out or some other car company will buy them.

written by MycroftHomlz

| 5 months 1 week ago | CH

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GM will still be losing money after it comes out of bankruptcy in 2009, even after unloading failing brands and getting huge concessions from auto workers and bondholders. If GM doesn't start turning a profit in a few years, there's a good chance that GM runs out of capital again and must liquidate, meaning the taxpayers lose their entire investment.

written by mtadd

| 5 months 1 week ago | CH

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I don't think that the union will hold on to it's stake. Honestly, it's not really in the union's best interests to own, even in part, the one company, when the union operates in a bunch of other companies. The cash value is more valuable to the union than the ownership.

But I have to agree with the points Moore makes in the last portion of the interview, where he cites GM's WW2 plant conversions. We have the technology to make better, smarter, more efficient vehicles. This is a prime opportunity to change the GM, and by extension, the entire world, for the better. Maybe the UAW should give their ownership of GM to Neil Young.

written by kagenin | 5 months 1 week ago | CH

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I think Moore is right in that GM needs to start making something other than gasoline-powered cars.

Bullet trains, and solar- and wind-powered devices come to mind.

written by rougy