Bailouts

[quote=Nomad;1129322]

Originally Posted by Jester

NO, thats crazy thinking, those companies already ran everything into the ground, keeping those compnaies in charge of the same jobs is a loosing deal for the employees, your just going to have to keep bailing them out, while the management and stock holders get a share of government money... This is STUPID!

NEW companies who dont do business as usual should get their shot


Right !
Thats why we voted Obama in.
Anyway its all connected. The country wont collapse if Ford goes out of business. But the economy is a spider web and when several industries fail other corporations having absolutely nothing to do with the bail out recipients suffer. Layoffs and bankruptcies, long time established companies are closing their doors not because of mismanagement but because the economy is drying up.
Its not about GM its about the whole workforce.

Name 5 of these companies.

Let me add to that most of these companies in this deep crap BORROWED and speculated and in doing so gambled and lost! That was not good business sense, they deserve to loose everything.

[Nomad]

1.Circuity City which employed thousands who will shortly be standing in unemployment lines.

2. I have it on good authority Office Max is inches away from collapsing. Again they employ thousands.

Ill find more for you.

[Nomad]

Heres a few unrelated to the current bailouts. That search took me 5 seconds. If you want Im sure I can find hundreds more just like it.

Famous names that have shuttered locations include Sears, Office Depot, Circuit City, Steve & Barry's, Mervyn's, and Linens 'n Things.
KB Toys, the venerable 86-year-old retailer, just filed for bankruptcy this month. Not since 2001 has a retailer called it quits in December, a sign of desperation that foreshadows another string of bankruptcies and closures come January.
To put the closures in perspective, it is estimated that the 70 largest chain retailers in the United States operate 3.1 billion square feet of store space. During the last recession, an average of 80 million share feet of retail space was closed annually.

Originally Posted by Nomad

1.Circuity City which employed thousands who will shortly be standing in unemployment lines.

2. I have it on good authority Office Max is inches away from collapsing. Again they employ thousands.

Ill find more for you.

Thise are major companies to you?

Office Max bought out Boise, and three to four other operations to be a large company, they wanted distribusion, all thats going to happens that smaller more local companies will supply the office supplies then, most of those guys will take local jobs for smaller companies. Office max borrowed heavily to buy out those companies for the distribution system, they gambled and lost.

I dont care of I have an office max to deliver my supplies, I can go to three other smaller compaies and get what I need. And I'll probably run itnto the same folks that used ot deliver my supplies.

Office Max unwiselty over extended themselves.

Ive been to Curcuit City a few times, thier service is lousy, the stores are crowded dark and hot. I did not go back... Hows Best Buy doin? they have huge stores, lots of help, good service, their stores are bright oen and friendly, its no wonder Best Buy is making it and Circuit City is going under... but Circuit City has been declining for a lot longer than the economy has been going sour.

I glad you picked two companies that I know about.

[Nomad]

Originally Posted by Jester

Thise are major companies to you?

Office Max bought out Boise, and three to four other operations to be a large company, they wanted distribusion, all thats going to happens that smaller more local companies will supply the office supplies then, most of those guys will take local jobs for smaller companies. Office max borrowed heavily to buy out those companies for the distribution system, they gambled and lost.

I dont care of I have an office max to deliver my supplies, I can go to three other smaller compaies and get what I need. And I'll probably run itnto the same folks that used ot deliver my supplies.

Office Max unwiselty over extended themselves.

Ive been to Curcuit City a few times, thier service is lousy, the stores are crowded dark and hot. I did not go back... Hows Best Buy doin? they have huge stores, lots of help, good service, their stores are bright oen and friendly, its no wonder Best Buy is making it and Circuit City is going under... but Circuit City has been declining for a lot longer than the economy has been going sour.

I glad you picked two companies that I know about.

No you are wrong. I worked for Boise in Florida and Minneapolis for 8 yrs..
You have it backwards. Boise a relatively small paper and distribution co. was flush with cash and they bought up Office Max. They just kept the name because it had larger recognition.
I have an e mail from my friend in my box telling me about the 5th wave of layoffs in less than a year. The pensions are gone, employer 401 contributions have been eliminated.
If you dont call distribution centers and retail outlets in almost every city in the country a substantial employer then I dont know how to reason with you.
Combine all of the the casualties in all of the indudtries and we have a bona fide crisis.

Originally Posted by Nomad

No you are wrong. I worked for Boise in Florida and Minneapolis for 8 yrs..
You have it backwards. Boise a relatively small paper and distribution co. was flush with cash and they bought up Office Max. They just kept the name because it had larger recognition.
I have an e mail from my friend in my box telling me about the 5th wave of layoffs in less than a year. The pensions are gone, employer 401 contributions have been eliminated.
If you dont call distribution centers and retail outlets in almost every city in the country a substantial employer then I dont know how to reason with you.
Combine all of the the casualties in all of the indudtries and we have a bona fide crisis.

Sorry i got the names backwards- but it doesnt make any difference, they still over extended themselves in a tough business.

I liked Boise service actually, they were good before the office max merger. And it was a smaller company before it went nationwide. They should have stayed small patatas.

I didnt say we dont have a crisis, I just dont believe its as bad as what the dems and obamaliar lay on us- too much politikin towards socialism... thats their goal, it isnt to 'save' the economy, its to usher in socialism. Thats my major objection.

The economy would recover if we cut taxes for the stim (that makes for slow inflation) and made laws to prevent things like the greed that should have been ilegal in the houseing speculation market, make laws to prevent that from happening again and we'll come out of this just fine.

We don't need the massive spending bill, we cant pay t back and inflation in 5-10 years will kill us, this is a Jimmy Carter repeat.

Originally Posted by Nomad

Heres a few unrelated to the current bailouts. That search took me 5 seconds. If you want Im sure I can find hundreds more just like it.

Famous names that have shuttered locations include Sears, Office Depot, Circuit City, Steve & Barry's, Mervyn's, and Linens 'n Things.
KB Toys, the venerable 86-year-old retailer, just filed for bankruptcy this month. Not since 2001 has a retailer called it quits in December, a sign of desperation that foreshadows another string of bankruptcies and closures come January.
To put the closures in perspective, it is estimated that the 70 largest chain retailers in the United States operate 3.1 billion square feet of store space. During the last recession, an average of 80 million share feet of retail space was closed annually.

I'll get back to you on this one, Hoss and I have a meeting...

[wildhorses]

I wanted them to let all those banks go out of business. Instead of giving bailout money to the banks, they could use it to start some kind of government loaning institution. That could keep small and medium businesses alive. Also they could refi some homes at their current value so the owners could stay in them. Let the banks take the hit for the rest.

[spot]

Originally Posted by wildhorses

I wanted them to let all those banks go out of business.

You're aware of the fact that all the depositors' cash is forfeit once a bank folds? What they get back is the minimum guaranteed cover and then they're just creditors waiting in line for a small share of the firesale.

Jester's entirely right about the long-term benefit to the economy in letting inefficient or madly-directed companies die. All of the bailout is short-term relief that will spin out the long-term suffering. The media scream for a fix this year, they're given a fix this year and a five-year crisis turns into a twenty year crisis.

The answer which reduces the degree of suffering to the greatest number is socialism. When the US workforce finally realizes the government doesn't even do bodycounts at home and that the Baghdad Syndrome of refusing to acknowledge consequences has become a domestic issue maybe they'll vote in a socialist administration and refuse to ever vote it out afterwards.

Power to the People!

[Kindle]

[quote=spot;1129372]...The answer which reduces the degree of suffering to the greatest number is socialism. ....QUOTE]

Socialism is exactly what many Americans fear will come about with our new President's agenda.