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OK, I was being cynical in my earlier post.
Posted by Noel [Email] (more from Noel) on Fri, 5 Dec 2008 11:54:04
In Reply to: Myths about the Detroit Big 3, TG, Fri, 5 Dec 2008 06:39:08
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The Not so Big 3 do need help. But what to do is the question.
What we cannot do is hand these companies any money that isn't a phased-in loan with strict restructuring provisions attached that include some specifics on not only corporate structure but that alos targets the fat in these companies' operations. It has to stipulate how the money is being used--and justify that use. Any loan must also come with non-partisan oversight to ensure that restructuring is proceeding as planned, and contain specific dates for key objectives to be met. It also must include significant union concessions for pay and benefits, for both current workers and retirees. And very important, monies should NOT be released as a lump sum, but distributed in phases on an as needed basis based on the objectives being met.
Congress shouldn't give in to the auto execs' threats of imminent disaster. If it takes until January or even February to come up with a good plan, so be it. This whole thing can be fixed, but it has to be done right --or not at all.
Posts in this Thread:
- Myths about the Detroit Big 3, TG, Fri, 5 Dec 2008 06:39:08
- OK, I was being cynical in my earlier post., Noel, Fri, 5 Dec 2008 11:54:04 <-- Viewing This Message
- Greater Good, OKSaabs, Fri, 5 Dec 2008 11:08:30
- Then they clearly don't need any help, Noel, Fri, 5 Dec 2008 08:39:57
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