Quote:
Originally posted by Allen
Just a thought. If GM goes belly up, someone will come in buy the assets, keep a lot of the workers and vendor working and maybe run the company in a way that can make money. The union will be weakened or gone and people may take a cut in pay, but most will still be working.
What do you think?
Allen
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Sounds good on paper Allen. And I'll bet that is exactly what Cerburus was saying when they got Chrysler by only assuming the debt.
BTW, they also bought 51% of GMAC (financial arm of GM). That has worked out well for them too!
GOb,
Bud, I don't wanna argue or seem to beat you up. But we have to quit blaming every company out there for our woes. Yes, there are some that truly scammed the hell out of us (ie: banks & mortgage), but we should have been a little smarter there too.
But our domestic auto industry has been playing behind the 8 ball for a while now, and it isn't all THEIR making. They also have been trying to cut and trim for well over 2 years now. I can name at least 10 programs that have been cut out in the last 10 months to GM dealers. And these were for the most part funded by the dealers. But GM didn't want to be spending any $$$ that they didn't need. In the 2'nd quarter alone, GM slashed $14 Billion. The sad fact was, the union members didn't take that hit, it was the white collar guys that lost jobs and benefits. And the dealership employee that had an incentivised program if he attained highest training,sales, customer satisfaction, etc. You know, all those rich SOB's making $45 - $65K a year.
But the Union brotherhood was safe and protected. Wonder how that will work out for them when the company goes belly up?
For too long now, the Unions have sat at the management table (why???) and tried to decide what is best for the workers and not the big picture or the company. They had their day and their use, but it is LONG GONE.