Quick connect reviews are happening this week and next week. I hope there will be no casualties based on these reviews and hope it's used to set expectations and not used to throw folks under the bus. Good luck!
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If you consider bankruptcy or FDIC bank resolutions to be "bailouts", remember that they're there to protect the creditors and depositors, not the failing mismanaged companies.
The big problem with those programs is the failed company management never goes to jail for what they did. See how many CEOs went to jail in 2008. Answer: none. In fact, they usually give themselves multi million dollar bonuses just before everything crashes. For a recent example of that, look at Silicon Valley Bank.
If you pass tax laws that let companies with billions of dollars of profits get away with paying no federal taxes, like Amazon, that's a bailout/giveaway.
If a GM engineer pays more taxes every April than Jeff Bezos or Elon Musk, that's also a bailout/giveaway.
Refer back to the long list of bailouts.
This isn’t a partisan issue. Bailouts happen when democrats and republicans are in office.
Think bigger!
So how is encouraging them to declare bankruptcy a bailout?
The TARP bill was signed by Bush in 2008.
Obama just carried out the law.
March 29, 2009: GM's Chairman and CEO, Rick Wagoner, agreed to immediately resign his position as part of an Obama administration automotive restructuring plan. Wagoner was replaced by Fritz Henderson.[80] In announcing that plan, on March 30, 2009, President Obama stated that both GM and Chrysler may need to use "our bankruptcy code as a mechanism to help them restructure quickly and emerge stronger".[81] He also announced that the warranties on cars made by these companies would be guaranteed by the U.S. Government.
March 31, 2009: President Barack Obama announced that he would give GM 60 additional days to try and restructure their company and prove their viability. If they succeeded, Washington would provide General Motors with additional bridge loans. However, if GM could not meet the requirements set by the White House, a prepackaged bankruptcy is probable. President Obama reiterated that GM will be part of the future even if bankruptcy is necessary.[82]
Contractors already took the fall for the direct employees Apr 28. Direct employees will probably get a large bonus, similar to last year, even though volume of sales are done. The SLT needs to make it look like everything is fine when it is the very opposite. I got my popcorn ready for the comeback of season 2 of the US OEM begging for money on The Hill in DC. I can't believe the tv networks cut canceled the show in 2008. It was just getting good with false promises, poor management, and over spending.
In a few weeks, we'll know if we can trust what they told us.
I had mine. It was quick “you’re not on the naughty or low performers list, so you’re good“