Let's bail out everyone!!!!
This has become the national joke. Now the auto makers are looking for a minimum 34 BILLION...... and we all know that is the tip of the iceberg. Hand them that money, and within 3 months they will be back looking for three times that amount.
Listening to the arguments on both sides, it comes down the the same thing. More equals more, equals more!
Let them go into Chapter 11, total reorganization under the bankruptsy laws. That way, they will be forced to regoniate union contracts, which to my way of thinking are the primary cause of the overall problem. Add to that, the stupidity and stuborness of management and you have the current problem.
After WW2, when the industry was in it's heyday, the unions took serious advantage of the industry, and made unrealistic demands for its union menbers. Some of the workers make in one week, what workers in other industries make in a month. The union's view was to make it while they could...... as evidenced by the UAW's massive stone ediface in Washington DC.
When robotics were invented in the US, it was the unions, and not management of the auto industry that squawked. Under the guise of "job loss" they prevented the industry from adopting the latest and newest technologies, and therefore laid the groundwork for today's problems.
Frustrated in the US, the developers offered the technology to Japan, ................. and the rest is history. Now, Detroit complains that Japan has taken over the auto industry. Duhhhh.............. what kind of idiots.........both in management and in the unions,............ couldn't see that coming.
Both groups deserve what they are getting today, and the taxpayers should NOT be bailing them out. The unions pushed and pushed for more and more.............now it is time for them to give some of it up. Management has to give up the lucrative bonuses and the high salaries, in order to conform to the real world.
Payback time is here!!!!1