That's the hell of it. For the cost of what they are talking about for this bailout, you could buy those companies three times over. There's something seriously out of whack here.
I say let them go bankrupt. The bankruptcy laws for businesses are there for a reason. If they were really serious about being competitive in the automotive manufacturing business again, they have to realize that the old paradigm isn't working. They need to look towards a new business model. Foreign companies operating here have been making profits. Look to them as an example. They've located their plants in business-friendly states, they have a good, loyal workforce that turns out quality products, their managers evidently are able to operate their plants well enough to come out ahead, they control legacy costs. If the American automakers reorganize under some kind of Chapter 11 plan, they should look at all of these options. The main one being get the heck out of places like MI and OH and PA and head to a business-friendly southern state that would welcome them rather than treating them some kind of enemy.
why even bother with bankruptcy laws?
this is so....
“some animals are more equal than others”