Posted on 11/15/2008 8:20:36 AM PST by EagleUSA
Edited on 11/15/2008 8:25:09 AM PST by Admin Moderator. [history]
Oy vey.
Chapter 11 would be the best thing that could happen to the Big 3.
It is so essential, IMHO, that I would even support a direct government bailout of the pensions if it were politically necessary to make the Chapter 11 happen.
Does anyone have the application form for this manna from Washington? I got a credit card and mortgage that need to be serviced. /sarc
;)
Again, our side gave them the keys to the takeover, no fight, with open arms, GWB legacy.
::::::::
Exactly. Zero fight, zero committment, zero guts, zero leadership, zero....zero.....zero......
Who is John Galt?
After leading the charge to bail out his fat friends on Wall Street, to oppose helping Detroit, though philosophically the right thing to do, would be outright hypocrisy.
(BTW, as someone on another thread suggested, after this string of bail-outs, how soon before we're asked to bail out Mexico? Think it can't happen, kiddies? Watch and wait.)
The car companies should not get a dime until they reform their byzantine work rules, bring their legacy and labor costs into line with the American operations of Honda, Toyota, Nissan, and the rest of the foreign manufacturers, who employ American labor to build cars for the American market AND MAKE MONEY DOING IT.
I retired from IBM in 1995 with a full pension and medical, dental, and vision benefits. But I have to pay over $200 per month for the benefits, plus deductibles and co-pays. The auto workers, current and retired, need to do the same.
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