They can't continue to fund the retirements and health plans of 2.5 times as many people as employees they currently have employed. The economics don't and never will work like that. It is a smaller version of the same Social Security issues we have. If they do fund them it will be a bandaid only.
Going into bankruptcy would allow them to throw out their union contracts and renegociate. If the Unions would cooperate for the greater good of their membership, a good compromise is out there somewhere. Just my opinion.
By the way Jim, not to nit-pick, but its not the Big Three anymore. With the decline of chrysler and the rise of Toyota, who now challenges GM, they are called the "Detroit Three"
Besides, GM and Ford have both been working on becoming smaller, leaner car companies for a few years now. Ford acutully stayed in the blac for a quarter this year until the economy exploded. Layoffs and downsizing are inevitable anyway.
I agree - do we want to look like America or more like China, where everything in that socialist nation is government run / govn't owned? It's sad to see our neighbors in Michigan suffer but it's not the best move for our country to bail out another industry. All good thing must come to an end.
Two cities are are also now putting their hands out for "their deserved peice" of the bailout package: Phila. and Atlanta.
Didn't Chrysler merge with Mercedes-Benz? Mercedes-Benz has a plant in Alabama that is part of Chrysler. They built those SUVs for Benz. I have a Mercedes and it has a sticker on it Chrysler/Damer even through it was manufactored in Germany. What is up with that?
I'm sure if the circumstances were reversed, the Big 3 had tons of cash and Uncle Sam needed a bailout, they would come running. Its funny how they want to share their pain with us, but wouldn't share any gain. But we have the Democrats now who are owned by the Unions so there is no limit to the amount of taxpayer money that will be used to buy Democrats some union votes.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More