jod

The Failure to Admit Failure

Theres 10 non-union workers for every 1 union worker in the auto industry. The biggest problem for the Big 3 is the legacy costs for pensions and healthcare All the foriegn car companies in America operate without any legacy costs as well as many tax advantages given to them to locate their assembly lines in competing states. I find it very sad to watch anyone cheer for the Big 3 to go bankrupt. They have always paid our follow Americans well even though the don't have a level playing field in they own country. If the automakers go so do up to 2.5 million jobs. They're the largest manufacturer we have left. Probably 2 million of them will lose there houses and that will pull down the value of the millions of houses around them causing the government around 200 billion dollars to pay out the bonds. The stock market will lose another 25 % essentually costing us all another 2 trillion. Why don't we just take over there pensions, make them issue the government stock equal to the current amount, and toss 20 billon each for treating one of our greatest assets like shit. Total cost around 200 billion much if not all would be recouped when there stock went up. Thats a level playing field. They should be able to do all that in about an hour.