tag:blogger.com,1999:blog-7400390336523591685.post6793551989480838287..comments2023-08-24T08:56:06.522-05:00Comments on Rhymes With Clown: The Real Problem with the Auto BailoutJeremy R. Shownhttp://www.blogger.com/profile/11303377672028774152noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7400390336523591685.post-12960596193978951112010-09-23T22:23:40.242-05:002010-09-23T22:23:40.242-05:00A 5% cash-on-hand uncertainty margin is mind-blowi...A 5% cash-on-hand uncertainty margin is mind-blowing. Ford, while it was smaller than GM at the time, was not half GM's size.<br /><br />The question is why GM did get bailed out, and the answer is three letters long - UAW. Had GM not been a union shop, where the union donaed heavily to Democrats, it would have been sent down the normal bankruptcy path rather than one that will net the UAW a couple billion in "free" money.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-55245104400382453632010-09-23T18:47:41.992-05:002010-09-23T18:47:41.992-05:00Seems like the only thing we can do is.
Buy F O R...Seems like the only thing we can do is.<br /><br />Buy F O R D!Paul - Berry Lakerhttps://www.blogger.com/profile/16328907012571841767noreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-10161511947778180602010-09-23T13:03:10.778-05:002010-09-23T13:03:10.778-05:00M could not tell you on any given day within $500 ...<i>M could not tell you on any given day within $500 million how much cash they had, and the result was they had to operate with over $10 billion, sometimes $11 billion, of cash, far more than any other company of its same size or scale.<br /><br />And by contrast, Ford, which is not that much smaller of a company, could operate with about $5 billion of cash on hand. </i><br /><br />Rattner is another who hasn't the foggiest idea...<br /><br />FoMoCo IS smaller, ergo its cash balances CAN be smaller. DOHH!<br /><br />Granted it would be nice if GM's Treasurer knew, to the penny, what was in the bank any given day--but that's a 24-hour-banking operation with plants, dealers, and distribution all around the GLOBE and with continual debit/credit transactions between them all.Dad29https://www.blogger.com/profile/08554276286736923821noreply@blogger.com