Quote:
Originally Posted by steinravnik
Obama Transition Said to Consider a ‘Prepack’ Auto Bankruptcy
Nov. 21 (Bloomberg) -- President-Elect Barack Obama‘s transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry’s financial crisis, according to a person familiar with the matter..........................
A GM bankruptcy is the “only way” for the biggest U.S. automaker to end union costs that make it uncompetitive, Republican Senator James DeMint of South Carolina said in an interview on Bloomberg Radio.
http://www.bloomberg.com/apps/news?p...5lk&refer=home
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This line is such Bulls**t. The unions have just given plenty that will help GM (and Ford) become "competitive" and it appears as though we are about to give more in our new "plan" to be presented to the wise and all-knowing congress of the United States of Amerika. By 2010 worker costs will not be the problem as relates to GM being able to compete with the foreign auto companies. Seems this whole line of arguement being made by our Southern representitives in congress is an attempt to bust the unions.