They have 3 months to change or give the money back. According to Bush. No jobs bank and change silly work rules. The UAW is not stupid. They know they are walking the plank. They have already put in a two tier wage system. But it will take time. Every new hire makes much lower.
>>They have 3 months to change or give the money back.<<
No, the conditions like “viability” in this latest Bush bailout are so vague that they will not have to do anything except make PR statements.
Seeing that Paulson has lied repeatedly regarding the TARP, why on earth should anyone believe that there will actually be consequences after three months??
This is a total shell game, and we are the dupes.
The stuff about the wages etc. is not binding, it's just a goal - so they don't have to change or give the money back. And the Democrats will never make them, anyway. Even if new hires are paid less, that doesn't solve the problem for decades on the wage side and doesn't even begin to address the legacy/retiree costs that add some $1500 to the price of a Detroit 3 vehicle on average. IF the Detroit 3 are going to be competitive, they have to eliminate that $1500 differential immediately (as they could in bankruptcy) so that the compete on an even playing field in terms of quality/price ratio. I will personally NEVER pay a penny towards those additional costs if I am buying the car. I can't do anything about the taxes, but I can sure as hell vote against anyone who supports the bailout.
I’m sure in 3 months President Bush... will do nothing because he will be ex-President Bush and Zero will give them whatever they want.