PoliticalChatter

The bailout for GM and the other automakers is underway; it is only a matter of time. First, let’s be real clear what this really is, it is a bailout of the UAW. It is hard to believe that an investment group or foreign automaker would not swoop in and takeover GM. The problem is this could lead to demise of the UAW.  So, the Democrats on the Hill are frantically drafting a bill and hitting the panic button. 

The entire situation has become so mind boggling stupid I struggle to find a starting point, but I shall make an attempt. As stated on here a few days ago, I called for stipulations on any loan/bailout plan and that is going to happen. The problem is all restrictions are on the CEO/President side. There are calls for no golden parachute, restrictions on pay etc. The problem with such a move is simple; what highly skilled CEO will take such a position? The answer is probably none. Where are the restrictions on the UAW? The United Autoworkers must take some blame for the situation at GM. Filled with a sense of entitlement; they made and received demands that could not be sustained. Any loan from the taxpayers should demand both management and labor agree to cuts.  

Lastly, the loan/bailout simply should not happen. History is full of great companies going belly up from railroads to steel, it happens and we survived. It would be the same case for GM, let it go, just let it go.

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