Or so they said in the 1950's. I guess now we could say, "GM is in deep doo-doo...."
As I see it, the ONLY way the Big Three can survive without bankruptcy is if they can renegotiate their union contracts retroactively. Yesterday, they terminated healthcare for white collar (non-union) retirees. If they can do that for Union retirees, they will save a bucket of cash. Healthcare benefits for retirees is often cited as Detroit's biggest problem, in that it's one of the single biggest costs, and it contributes NOTHING to the present or future of the company. I'm not looking to get into gratitude for decades of service of former employees; I'm simply looking at where money goes and what return it brings/may bring. I would think that the only way GM (or Ford or Chrysler) could get the Unions to agree to let them off the hook for retiree benefits is if the Government picks up the tab. In effect, a government bailout of three massive private corporations, and probably something that would seriously dilute the stock value one way or another. If there isn't a government bailout / renegotiation of union benefits (and possibly even current wages and future raises), then I don't see any way that all three won't have to go bankrupt, and the Union retirees and every other union member, non-union retiree and non-union current employee will get nothing. I suspect there is not enough pragmatism at any level of any union to agree to anything that does not force a bankruptcy.

posted by 71.248.16...

• OK, here's my informal poll question---, Bill H., Wed, 16 Jul 2008 07:56:39
  • ok, in case anyone from GM reads this, John in Bismarck, Sat, 19 Jul 2008 09:09:46
  • Am I the only one..., Caarma , Thu, 17 Jul 2008 13:27:57
  • GM is probably not going to dump Saab but..., turrbo , Wed, 16 Jul 2008 20:13:21
    • Re: GM is probably not going to dump Saab but..., Erik919kt, Thu, 17 Jul 2008 13:15:23
    • Re: If GM turn around effort fail...., Red93SEInBrklyn, Thu, 17 Jul 2008 09:30:46
  • Can't think of a single GM vehicle that appeals, ursaw, Wed, 16 Jul 2008 18:49:40
  • Most recent news is no dumping of Saab..., Scott Paterson , Wed, 16 Jul 2008 13:16:11
  • Many other GM products to consider- Saturn, Cadillac, Caarma , Wed, 16 Jul 2008 12:13:33
  • Nope, I would run very quickly to Audi., B Millar , Wed, 16 Jul 2008 11:34:12
  • Consider another GM brand ?, JMJ in NC, Wed, 16 Jul 2008 10:45:27
  • So many issues, so little time..., Noel, Wed, 16 Jul 2008 10:40:37
    • Ridiculously overpriced, no...., mikef, Thu, 17 Jul 2008 07:04:57
  • Having bought 2, Mattias.se, Wed, 16 Jul 2008 10:35:26
  • Re: OK, here's my informal poll question---, Seanster, Wed, 16 Jul 2008 10:30:26
    • Re: Saab is a brand misunderstood...., Red93SEInBrklyn, Thu, 17 Jul 2008 09:54:26
  • I wouldn't PUNISH GM for dropping SAAB, Aero'ed, Wed, 16 Jul 2008 09:52:48
  • Re: OK, here's my informal poll question---, DE , Wed, 16 Jul 2008 09:51:38
  • I would look at GM, but more at others., Mike in Anchorage, Wed, 16 Jul 2008 09:09:45
  • Re: OK, here's my informal poll question---, steve, Wed, 16 Jul 2008 08:12:46
    • SAAB is an afterthought, PT, Wed, 16 Jul 2008 09:11:17
    • What's good for GM is good for America, PT, Wed, 16 Jul 2008 08:50:49 <-- Viewing This Message
      • Re: What's good for GM is good for America, steve, Wed, 16 Jul 2008 09:24:47

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