Before Bailout GM, Ford and Chrysler should have a controlled bankruptcy! (insurance, pension)

[the_critic]

I think a government sponsored bankruptcy of the three American Auto Companies should be a requirement of a federal bailout. This would allow a judge to throw out all the union contracts. Right now the cost of pensions, health insurance and wages are to high for short or long term survival. If wages were cut to $15 an hour and pensions were cut there would be lots of complaining and significant short term pain, but this is the only way these companies will survive in the long run.

http://www.pr-inside.com/general-mot...cy-r904367.htm

A bailout today with continuing high labor costs will just put a band-aid on a cancer. What do you think?

[happycamper5]

Would it have helped to save the 9000 other American products now gone !! tv's,cothing, ect. How about making a better car !

[jimj]

I had heard a report that the unions are demanding quite a big share of any bailout money given to GM or Ford be given to THEM. According to the report they said they deserve part of the profits from the automakers. Hmmm, I thought these workers were PAID to be there not partners in the company...
Back to your main question, I don't think they should get a dime if the unions don't share the pain as well. I'd think they'd be happier to have a reduced benefit job than full benefits unemployed!

[happycamper5]

Originally Posted by jimj

I had heard a report that the unions are demanding quite a big share of any bailout money given to GM or Ford be given to THEM. According to the report they said they deserve part of the profits from the automakers. Hmmm, I thought these workers were PAID to be there not partners in the company...
Back to your main question, I don't think they should get a dime if the unions don't share the pain as well. I'd think they'd be happier to have a reduced benefit job than full benefits unemployed!

You mean the same unions that helped all the dems into office?

[floridasandy]

Originally Posted by happycamper5

You mean the same unions that helped all the dems into office?

yes, the same unions that have betrayed the blue collar workers who have built this country because the unions want to get more illegal immigrant workers in their unions eventually. they don't care about the economic cost to the country but about their own profit. that is why obama is for a path to citizenship for illegal immigrants. always follow the money to find the corruption. nobody can say that they did not see it coming though.......

[Dexterguy]

Originally Posted by the_critic

I think a government sponsored bankruptcy of the three American Auto Companies should be a requirement of a federal bailout. This would allow a judge to throw out all the union contracts. Right now the cost of pensions, health insurance and wages are to high for short or long term survival. If wages were cut to $15 an hour and pensions were cut there would be lots of complaining and significant short term pain, but this is the only way these companies will survive in the long run.

General Motors should file for bankruptcy. Monday

A bailout today with continuing high labor costs will just put a band-aid on a cancer. What do you think?

It's obvious that your entire family is not supported by GM pension checks, and that's IT!! No other income!

If you worked for the big three for 38 years on the assembly line and now have sevre arthrits from it in your hands, YOU DESERVE YOUR PENSION CHECK EVERY MONTH!! To take away pension checks from the current retirees would be an absolute disaster.

[the_critic]

Originally Posted by Dexterguy

It's obvious that your entire family is not supported by GM pension checks, and that's IT!! No other income!

If you worked for the big three for 38 years on the assembly line and now have sevre arthrits from it in your hands, YOU DESERVE YOUR PENSION CHECK EVERY MONTH!! To take away pension checks from the current retirees would be an absolute disaster.

I am afaid the pensions will be handled much like the bankrupt airlines. Regardless of what is done will cost individuals, related companies and many other people lots of money.

[Stratford, Ct. Resident]

Originally Posted by the_critic

I think a government sponsored bankruptcy of the three American Auto Companies should be a requirement of a federal bailout. This would allow a judge to throw out all the union contracts. Right now the cost of pensions, health insurance and wages are to high for short or long term survival. If wages were cut to $15 an hour and pensions were cut there would be lots of complaining and significant short term pain, but this is the only way these companies will survive in the long run.

General Motors should file for bankruptcy. Monday

A bailout today with continuing high labor costs will just put a band-aid on a cancer. What do you think?

The only problem with your $15/hr. example, is that many people would just sit at home and collect unemployment instead of returning to work at that rate. Also, worker morale would be so decimated that the finished products would be very poor in quality. The quality level of domestics may not match foreign offerings but you have to remember it's a 2 way street here. The employees are assembling what the bean counters have provided to them. The "union guy" doesn't make the decisions regarding the actual quality of parts/materials that are used.

[jimmyP]

I also believe the controlled bankruptcy is the only way to save this industry. Throwing money at a bad business model just prolongs the inevitable. This business needs to be completely restructured to achieve a level of competitiveness in the marketplace.

[jeepowner]

YOU ANTI-UNION IDIOTS!!!!! What do you think your job is worth?... It is not the cost of the car it is the revenue; if GM and the big 3 cannot put out a good product that competes with Foriegn Auto Makers then that means NO SALES! The legecy cost and what the average union line workers make based on their contract only makes up 1/3 of the average cost of a vehicle. The Japanese Auto Makers CEO's and upper Management is not strutured like Corporate America, they do not make Capital Wages. Do you remember Prestion Tucker? The Big 3 crushed him just like they crushed the EV1 Electric Car. The consided attitude of the Big 3 Management is why we are at risk of loosing the American Automible. WAKE UP AMERICA!!!!