assistance without concessions from the UAW.
I'm not opposed to some low interest loan, but I am opposed to giving a blank check to maintain the status quo.
The companies have to be required to reduce costs across the board, replace failed management, negotiate union contracts that enable them to be competitive in a global economy and receive relief from regulations that drive their costs up.
I agree.
I think at this point there is little chance they'll sit back and watch them go belly-up.
So, what we all must call for is something very structured and provides a good chance for return to the taxpayer. Chrysler worked out.
Unions have to come down to earth and realize they can't continue to make 2X what others in the same field are making...it's just not sensible. They also have to concede on these payments to their unemployed/laid off at some crazy % like they do now....like 90% of what they were making before they got canned. That's ridiculous.
I think if they want the money to survive, they'll have to capitulate...if not, then let em dig through trash cans.
Low interest loans to get them through the cash crunch is sensible to me. You can't let them die at this time...it will have a much more serious spillover effect on this economy. You can require them to restructure CEO pay, force the unions to make concessions, and retool these companies (many have already begun to do so).
Some of you guys need to realize that part of the US auto business is overseas...we sell a helluva lot of trucks.
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