Audi Picks Mexico For New Plant

how exactly are the taxpayers screwed??? I never read once that GM was never going to pay back loan???? I personally would rather have the UAW run the companies that a bunch of wealthy CEOs running the companies, and then outsourcing the jobs, thus adding more people to the unemployment line, more people applying for welfare (both are funded with tax payer money). If GM and Chrysler went under it would have been a domino effect 100s of 1000s of jobs would have been lost welfare and unemployment would have been though the roof. In reality in the last sceneo that would have costed the tax payers more money, and in some way or another that effect could affect a friend or family member of yours

How did things work out during the Bush-republic? Not so well now did was it? Oh, except for the "bail out" George Bush extended to GM and Chrysler in December of ’08 without a clue as to how to actually help these companies out. Matter-of-fact, Bush was so successful that Republican Presidential candidates are clamoring for his endorsement; or begging him not to speak their name? I suspect the later. http://www.politico.com/news/stories/1208/16740.html I apologize for extending Good Ole’s political rant but at this time I would like to thank the Honorable George W. Bush for so kindly putting so many American jobs first instead of political ideology, and given the choice would do it again. Now about those WMD’s, I don’t think we even found a Super Soaker hidden in a warehouse anywhere in Iraq.

@fastr_thanu83 1) Bush is also to blame, he started the bailout. That said, he wouldn't have upended bankruptcy law in order to enrich the UAW (which had a major, if not the major hand in causing the problem in the first place). 2) The Treasury right now is showing a paper loss of 10-15 billion on the stock that it got, and more importantly, the tax-loss carryforward that the "new GM" was allowed to inherit from the "old GM" (contra to existing bankruptcy law) gave it a $40 billion "loss" to offset taxes. That's a taxpayer giveaway / subsidy placed under the cover of the faux bankruptcy, and by definition those taxes will never be paid, so the taxpayers will never recoup that money. So that loss will stay no matter what occurs with the stock. 3) The spin that GM / Chrysler would have dissolved and caused massive job loss and huge increases in unemployment / welfare costs is just that, spin. For one thing, even for the sake of argument to assume the dissolution of GM/ Chrysler that you suppose, people will still buy vehicles, and they'd have been manufactured by Americans at the non-UAW plants around the country, which would have hired more people to meet the demand. And the feds could have offered to guarantee "debtor in possession" financing, which would have permitted them to go through a genuine Chapter 11 reorganization (instead of the politicized sham pre-packaged one). The difference is that with a genuine reorganization the UAW pensions would have been gone, their contracts rewritten and work rules adjusted to market realities. It was to avoid this that prompted the Obama administration to protect the UAW through extra-legal means. The result is that the domestic manufacturers are still saddled with UAW contracts and legacy costs, meaning that they still aren't competitive and are going to be back at the taxpayers door one of these days, looking for another bailout. Also, how much have the taxpayers incurred to "save" each of the jobs allegedly saved? Tens of billions of dollars probably equates to hundreds of thousands, if not millions, per job. As said, the taxpayer were, are and will continue to be screwed by the bailouts.