Chapter 11 instead of a bailout loan? - Saab General Bulletin Board - Saabnet.com
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Going 11 means they reorganize, shed themselves of the legacy costs, the UAW and those burdens. (you realize that the average GM hourly wage, including health and retirement costs, is over $81.00/hr?! Toyota and Honda is more like 40.) They need to go cold turkey. A bailout now is just financial methadone and postpones the inevitable.
Sorry to all the workers and retirees, but the gravy train is off the track.
_______________________________________
Ken
Posts in this Thread:
- How to Save GM, OKSaabs, Wed, 12 Nov 2008 05:10:13
- GM needs to make cars that people want to buy, J, Mon, 17 Nov 2008 07:44:38
- Re: How to Save GM, Red93SEInBrklyn, Wed, 12 Nov 2008 21:41:12
- Re: How to Save GM, KevinM, Wed, 12 Nov 2008 17:19:24
- Consolidate platforms, unify US and European products, Paul H, Wed, 12 Nov 2008 15:10:07
- Re: How to Save GM, DivrDon , Wed, 12 Nov 2008 08:43:06
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