Comments on: Important! Please do your thing concerning this. Grimmy

By: grimgold

grimgold — Thu, 18 Dec 2008 15:46:28 +0000

RS, it is astounding that something could be as obvious as why the autos have troubles, yet it hasn’t been solved long ago.
I agree that Cerberus should not exist. However, it apparently is kinder than most of these kinds of companies which grab companies in hostle takeovers, milk them of assets, them dump them.
Something else that must be addressed and soon is how to return to a currency that has a monetary standard. I’m really frightened concerning the inflation that will occur with recovery because of the vast amount of fiat currency now being pumped into our economy.
Twice as many dollars will cause each to be worth half as much.
I remember the Carter years, he inherited the Vietnam Era pumping of money to pay for the war. Carter stood there stupidly looking at the 25% prime rate we had at one point, wondering what to do. We need to return to a gold and silver standard, or something else that establishes the dollars worth against something else so it won’t inflate!
Grim

By: RS Janes

RS Janes — Mon, 15 Dec 2008 00:13:10 +0000

Joann from WI, this is exactly why we have to return to the way we incorporated businesses in the 19th century. The company had to be chartered for incorporation in each individual state, it had to prove that it served a public need, and and it could only do one thing — build cars, make paper, etcetera. This also served another purpose: It prevented corporations from becoming ‘too big to fail.’

Grim, I haven’t checked every company on your list of Cerberus holdings, but I’m pretty sure most of them have lost money. It’s possible Cerberus doesn’t have the cash to bailout Chrysler, plus I read somewhere they are trying to either merge with or dump it off entirely to some sucker. Well, the name is appropriate anyway — Cerberus, the three-headed dog who guards the gates of Hades.

By: Joanne from WI

Joanne from WI — Fri, 12 Dec 2008 23:00:42 +0000

Cerberus owns a company called NewPage that bought one of our local paper companies. Pretty much the entire economy of the Village of Kimberly, Wisconsin relied upon these mill jobs for about a century. It’s a nice little town. You know the rest. The mill was shut down in September and the workers thrown out on their collective ass. They’ve been agitating and demonstrating ever since. There are buyers interesting in purchasing the plant and re-opening it, but Cerberus has it in moth balls. The real objective is to drive down supply in order to raise the price of the coated paper that was produced here and still is in their other plants around the country. So we get screwed twice: supporting these dislocated workers, and paying higher prices for goods produced by Cerberus companies. Cerberus and other abusive, secretive, and hidden monopolies should be investigated and prosecuted.