Quote:
Originally Posted by crockett
It's the union and paying all the benefits/retirements that killed GM. If they file for bankruptcy they could get out from under all that and restructure.
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This is what has to happen first. They need to restructure. There's no reason a guy screwing a door handle on all day is making $40 an hr. Plus, the guys at the top need to start making $1 million a yr instead of $200 million. They ovbiously can't run a kids lemonade stand if they are in the position they are in now.
The reality is, if a company as big as gm fails, it's not just them and their employees that are fucked. It's truly a domino effect. You've got the people working in the factories that supply them with door handles, the glass manufacturers and the steel industry.
PLUS all that tax base has been wiped out. Instead of 50k employees paying taxes, now they are all on the gov't dole. Getting medicaid and food stamps and unemployment. $25 billion is a drop in the bucket compared to the amount of money it will cost the gov't if they fail.
They need someone to come in with a whip and bust some heads. Someone who can run a business that is profitable. But they are going to get their bail out. Trust me on this one.