Who's the biggest loser in today's GM bankruptcy?

A lot of people are hurting today. But who got hit the worst?

Billions down the toilet, with billions more to follow.

I bet we flush half a trillion dollars down the toilet that is Detroit before this is all over - simply paying every current autoworker $100,000 a year for life NOT to work would be the bargain of the century.

So Detroit is just a toiletbowl full of piss and shit to you, huh?

Not everyone who is or was an autoworker has or had to be living in Detroit or Michigan to work for GM or Chrysler.

Maybe you should crack open a history book someday and learn about the contributions and sacrifices that labor in my hometown made so that you and those of your ilk can type shit like that on a internet messageboard. The PRICELESS freedoms that you enjoy now is due in a large part from labor that included two of my aunts and a grandparent who worked in a factory and on assembly lines here to churn out military equipment and vehicles during WWII.

My late father fought the Japanese in WWII and was wounded, as was my late uncle who also was a POW, if I was a GI in that war and knew what the future held here beginning only about 35 years later, I wouldn't fire one damn shot in defense of this country, that seems to be increasingly populated with ignorant losers who couldn't find Detroit on map of the US, if I circled Michigan in red.

Thankyou for your loyalty to our great state. Kick 'em when they're down. It's the American way. But that's ok, we'll be back!

:fistbump:

we paid 40 billion in bailouts because they said otherwise they'd go bankrupt. Now they're going bankrupt. Doesn't that mean we could have kept the 40 billion? Plus all the other money loaned to them over the years?

and the people of Detroit and Flint are getting nothing but the bill.

Most of the plant closing were in MI, already suffering from the highest unemployment. I was hoping the closings would be distributed among more states rather than concentrated here. I hope MI is chosen to produce GM's new small car.

:cry:

You had a long, strong progressive history.

You were everything that was good about the New Deal, the Civil Rights Movement, and the Great Society

You stood up for all workers, for the unorganized and oppressed

I've tried to find the fine details here but thus far I'm not finding out too much about what happens to the retirees. Anyone know?

that will need bailed out too, $33.5 billoin in the hole the first 6 months of 2009.

be dramatically reduced? Like the airline employees?

PBGC if they are they will also require a bailout. I work in the steel industry and I lost my pension to the PBGC but the USWA had an Administration hostile to Unions at the time.

never asked for public money. They should have let GM and Chrysler go under months ago before dumping taxpayers money into them. GM and Chrysler would have been put out of their misery and Ford and other auto makers would make more cars and be profitable again. So now you have GM and Chrysler rewarded for bad management and Ford has to compete with a US Government owned company. This is the worst government decision I have ever seen in my lifetime. The government bails out the losers and Ford be it 6 months a year or whatever will be punished for it. Mark my words. Look at Chrysler they bailed them out in the 70's and they just kept making the same mistakes and failed again.

invested in GM..
After losing money on their home equity, and now on 401k's..Retirement becomes just another pipe dream while GM Management retains high paying postiions for running it into the ground.