Fred Swartz

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

BANKRUPTCY is the solution :-(

Sadly, the only way GM and the unions (both at fault for many reasons given above) will restructure is through some drastic act like reorganizing through bankruptcy. Bankruptcy isn't necessarily the end of a company, but gives it a chance to get out of the mess it's in and have somewhat of a fresh start.

Giving taxpayer money (or just printing it) to the current dysfunctional companies would only prolong their painful demise. They need to be motivated to change.

Their main business plan seems to be to ask the government for money (Oh yes, they did kill the electric car a while ago and plan a new one in a small production run in a couple of years).

Q: Why aren't stockholders insisting on throwing out upper management? Is so much of the stock owned by "insiders" who are benefiting from the status quo?