Hopefully they will say no to the deal unless the UAW agrees to:
1) Concedes elimination of the Jobs Bank Program, that pays folks 85%, forever!, of their salary if the factory closes and their jobs are lost.
2) Reduce company retiree health care obligations.
3) Reduce wages and benefits to the levels paid by non-Big Three manufacturers.
The bill as currently structured essentially forces the companies to can their executives, promise not to pay the new ones big bucks, forces them to drop their lawsuits against California’s insane augmented CAFE standards-that no one believes is actually possible, and forces them to build green friendly automobiles…
The big three’s operations overseas are very profitable, owing to the lack of UAW extortion. The bill as currently structured is more of a bailout for the UAW than the big three…
thor,
You may be prescient about Paulson in handcuffs…
And the moose roost thing is pretty comical…
And you’re right about them being lent the money; but in order to insure that it’s not good money after bad, they should have to restructure-a la chapter 11-and revive their business models…
And the Car Tsar, whomever that is to be, should be someone who has actually run an industry…
I like the idea of Jack Welch, or maybe even Lee Iacocca; but then again, I am old school…
And you can’t get much older school than one of those guys!
Hopefully they will say no to the deal unless the UAW agrees to:
1) Concedes elimination of the Jobs Bank Program, that pays folks 85%, forever!, of their salary if the factory closes and their jobs are lost.
2) Reduce company retiree health care obligations.
3) Reduce wages and benefits to the levels paid by non-Big Three manufacturers.
The bill as currently structured essentially forces the companies to can their executives, promise not to pay the new ones big bucks, forces them to drop their lawsuits against California’s insane augmented CAFE standards-that no one believes is actually possible, and forces them to build green friendly automobiles…
The big three’s operations overseas are very profitable, owing to the lack of UAW extortion. The bill as currently structured is more of a bailout for the UAW than the big three…
I say a thousand times no!
My prediction, Henry Paulson will someday soon be held against his will in handcuffs and confined to jail cell.
Blank checks, no oversight – something don’t smell right.
Of course GM, F, and C should be loaned money. They are, in fact, some of the largest finance companies in America, I mean GE Finance got some sugar.
These horrific redumblican economic decisions will haunt the redumblicans until their moose roost. Criminal, all of it.
http://mjperry.blogspot.com/2008/12/2007-profitloss-gm-vs-toyota-same-cars.html
Income Tax Expense (GM) 37,162,000,000
Income Tax Expense (TM) 9,098,000,000
Fuck General Motors.
thor,
You may be prescient about Paulson in handcuffs…
And the moose roost thing is pretty comical…
And you’re right about them being lent the money; but in order to insure that it’s not good money after bad, they should have to restructure-a la chapter 11-and revive their business models…
And the Car Tsar, whomever that is to be, should be someone who has actually run an industry…
I like the idea of Jack Welch, or maybe even Lee Iacocca; but then again, I am old school…
And you can’t get much older school than one of those guys!