First of all, GM agreeing to give insanely generous benefits to their workers is not Socialism, it is stupidity. You don’t reward stupidity with Billions of dollars, you punish stupidity.
Also, the 2010 pay and benefit cuts still leave GM with a labor cost way out of line with the free market and this bailout won’t change that, so we would end up just throwing tons of money at the problem and still have to take over the pensions anyway.
G
The labor cost is coming down with the 2 tier employees and if more current line guys would take packages it would be at the Vaulted Toyota "$48/hr total compensation". Ford is claiming they are at $53, down from the $70 something.
Yes the benefits were insane, they did it to avoid a strike that would have driven them to chapter 11 in 2 weeks, instead they bled them dry for 20 years.
You and might agree upon the UAW needs to step up and ask these hold overs to leave or take the lower overall pay. The patient is Ill and need surgery, G-Finger thinks they can wait, I don't.