Discussion in 'Mopar News' started by Polish Don, Nov 20, 2019.
Santo GM. Company which is never wrong.
A few paragraphs from the LA Times news article published in 2003, commemorating the anniversary of the death of the street rail system in the LA metropolitan region.
By 1946, the Justice Department had caught on. It filed an antitrust suit against National City Lines for conspiracy to monopolize the transit industry. But before the suit came to trial in Chicago, the consortium of big companies bailed out, selling their holdings in National City Lines. That essentially left it as an empty corporation.
In 1949, the case finally came to trial. The verdict was mixed, with acquittals and convictions. Although they no longer owned National City Lines, the companies in the consortium were fined wrist-slapping amounts of $5,000 each, while individual company officials were fined $1 each, for a total of $37,007.
I think since a precedent for fines was established in this case involving GM, the courts should hold any fines and awards to similar amounts.
(BTW, there are other threads and forums dealing with the streetcar conspiracy. I brought it up here to demonstrate Santo GM's involvement in a corporate conspiracy which was brought to a trial.)
I guess Mary Barra will said as an excuse than it was the "old GM" who did it but there's still some of the "old GM" DNA in the "new GM".
What does a 1946 lawsuit have to do with a 2019 lawsuit other than GM being involved in both (but on opposite sides)?
What about how GM exited bankruptcy compared to FCA who payed their loan back with interest
Not much that I can see. While GM, Mack, Standard Oil, and Firestone Tire were guilty of some collusion, fact of the matter was privately owned light rail public transportation was already dead and had not been profitable for many years. The switch to buses was started in the late 30's. Those companies may have been conspiring to make sure the streetcars in Los Angeles were replaced by GM and Mack buses rolling on Firestone tires fueled by Chevron diesel fuel, but the day of the street car in L.A. was over regardless.
That story is an old L.A. urban legend, with a bit of truth behind it.
What was that old expression about smelling blood in the water?:
Fiat undervalued Chrysler by $5.6 billion, Italian government says
Looks like there's something way more fishy then we thought. One French commenter posted a interesting theory.
Le fisc italien accuse Fiat d'avoir sous évalué Chrysler - Leblogauto.com (at https://www.leblogauto.com/2019/12/fisc-italien-accuse-fiat-davoir-evalue-chrysler.html#comment-1258336 )
Here the approximate translation.
Google Translate (at https://translate.google.com/translate?sl=fr&tl=en&u=https%3A%2F%2Fwww.leblogauto.com%2F2019%2F12%2Ffisc-italien-accuse-fiat-davoir-evalue-chrysler.html%23comment-1258336 )
I am not thinking 'blood in the water'. This is squarely aimed at Exor. Could be more serious than the GM lawsuit. I think it will be easy for GM to prove there was collusion and conspiracy between the UAW and FCA, but more difficult to prove GM was damaged by it.
Another interesting perspective:
Lawyer: GM suit against FCA will cost automakers hundreds of thousands of dollars (at https://www.freep.com/story/money/cars/general-motors/2019/12/11/gm-fca-lawsuit-uaw/2634754001/ )
GM needs to have several seats especially after I just read they are on the list of about 100 Fortune 500 companies that paid 0% or less in federal taxes in 2018. They have some nerve.
So you're telling me FCA actually paid taxes and is in a better position than GM?
Tax law is complicated. Just because a company (or individual) makes money one year doesn’t mean they have to pay taxes if they have unused carryover losses from a prior year. For example, say you lose $5 million dollars one year. Then next year you make $2 million and the following year $3 million. Roughly speaking, you won’t pay any taxes all three years. It’s “fair” because there aren’t negative taxes when you lose money.
>>>Cues "Taxman" by Stevie Ray Vaughan
I know I just wanted to add 2 cents that doesn't hold water. Just annoyed by the hate.
Ain't that America!