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Thread: Detroit

  1. #11
    PWCToday.com Is My Home Away From Home tshank123's Avatar
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    Re: Detroit

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  2. #12
    PWCToday.com Is My Home Away From Home JSNate's Avatar
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    Re: Detroit

    Don't think for one minute that Detroit is the only city that will file bankruptcy. This is just the beginning of several municipal failures. Much like the past history of this once great city, it will set trends and precedent.
    Last edited by JSNate; 12-04-2013 at 02:27 PM.

  3. #13
    PWCToday.com Is My Home Away From Home tshank123's Avatar
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    Re: Detroit

    Quote Originally Posted by JSNate View Post
    Don't think for one minute that Detroit is the only city that will file bankruptcy. This is just the beginning of several municipal failures. Much like the past history of this once great city, it will set trends and precedent.
    Absolutely. The entire country is facing the same fate if something isn't done about it very soon. You can't borrow your way out of debt, and buying votes with deficit spending is making the problems monumentally larger.
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  4. #14
    Top Dog orangefinger's Avatar
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    Re: Detroit

    I suggest they send Ford down there to clean up, he is familiar with particular individuals .....
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  5. #15
    resident guru Maico's Avatar
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    Re: Detroit

    Quote Originally Posted by BLRider View Post
    I'm stuck in between them both.
    But where you're at...is really pretty nice.
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  6. #16
    PWCToday.com Is My Home Away From Home BLRider's Avatar
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    Re: Detroit

    Quote Originally Posted by Maico View Post
    But where you're at...is really pretty nice.
    Agreed, nice and remote.
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  7. #17
    Frequent Poster rlovebk's Avatar
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    Re: Detroit

    Some of the short-sighted threads on here crack me up. Like the one about gas/oil. This year we are on track to have 80% of our energy produced here in the US.
    Detroit lost a ton of $ in the downturn. Much of it was lost due to investments/banking. So those folks with those signs have a point.
    Then the big 3 had huge systemic financial and other issues. People would blame it on the unions, the guy on the line. He/she does their job, make 50-70K per year. They are only as good as the products/materials/design/etc. of what is sent down the line to them to build.
    They did not design the vehicles or spend heaps of money on all kinds of stuff that had nothing to do with the core business or pay themselves out-sized salaries with bonuses and stock-options and spend themselves right into a hole.
    No they came to work each day, gave back pensions and other benefits they had negotiated to try and do their share to save the Co. The money changers, CEO's, Wall Street, etc. took them and us for a ride.
    You ever tried parring back your spending when your income sinks by 50%? It is not easy. Especially when you have obligations, bills, payments, credit installments, etc. What do you pay? What do you not pay?
    This is not just liberals running amok wrecking Detroit. It is the policies we have allowed to fester and destroy a once proud and good city and state. The big 3 are now 2; Chrysler is Fiat, and GM is making a come back and it is better then if it were owned by vulture capitalists that would have sucked the last bit of life out of it, like they did Hostess. Or owned by China.
    I would hope GM pays some of that 10 bil. they short-changed tthe US taxpayer on. But I wont hold my breath. They (Corp. guys) will "Invest" it, as usual, and some will glide into their own accounts.
    I hope Detriot regains its place. I hope they recover. The damage done it will take generations. This is America, this is OUR country, and it matters not that it is liberal or what have you. These folks are our fellows, and we should wish them every success.
    Last edited by rlovebk; 12-26-2013 at 08:11 AM.

  8. #18
    PWCToday.com Is My Home Away From Home tshank123's Avatar
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    Re: Detroit

    Look I dont like the money changers either, but go with me on this for a minute. If you ran a business, and promised to pay your employees more than your revenue could support, and then came to me for a loan to pay those people, how is it my fault that those people aren't getting paid when you go bankrupt? I know its not the employees faults per say, however they elected these politicians that ran that city into the ground. They made promises they couldn't keep, the same as our federal government is doing to us. This is just showing us where the rest of the country is headed.
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  9. #19
    Frequent Poster rlovebk's Avatar
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    Re: Detroit

    Yes. I can not disagree with that at all, except that one of the reasons they (city gvnmnt.) are in the condition they are in is due to buying these securities that were supposed to be safe. They were actually buying sub-prime stuff and then when the poop hit the fan we did 2 things: We bailed the financial folks out, we also did not prosecute any of them for the fraud they had perpetrated on unwitting investors, including many of these pension funds. To me this was wrong.
    Poor management of resources and capital is rampant in Corps and Gov. right now.
    The cities and GM are 2 different entities that were both poorly managed. One is doing much better at recovery then the other.
    Last edited by rlovebk; 12-30-2013 at 02:29 PM.

  10. #20
    PWCToday.com Is My Home Away From Home garrcass's Avatar
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    Re: Detroit

    http://www.mrcolionnoir.com/gun-talk...uns/#more-3684

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