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  • Wall Street Breakfast: Must-Know News [View article]
    Auto negotiation MANDATORY elements for loan:
    [1] UAW disolves Job Bank with 90 day severance;
    [2] UAW agreement effective 2010 -- terms fast forward to 2/1/09;
    [3] Dividends suspended until profitable;
    [4] Proceeds from sale of car lines used to reduce debt........PERIOD;
    [5] Source & Use-of-Funds statement for 2009 w/severe penalties for non-compliance;
    [6] BOD's to increase by three goverment appointees of the calibre of Jack Welsh, Ross Perot, Warren Buffett, Kirk Kerkorian's man, etc;
    [7] Officers & Senior executives to reduce salarys by same % as UAW 2010 agreement & receive NO BONUS' except for PROFITABILITY;
    [8] White collar hiring freeze, and further staff recuctions, until profitable;

    NEGOTIABLE ELEMENTS to include downsizing commitments, R&D expenditures, regulations holidays to improve profitability, Debt-for-Equity swaps, UAW Work Rules reduced for efficiencys & Profitability, etc

    The tougher & more demanding Congress is the greater the percent of success will be!!!!!!!!

    IMHO
    Dec 02 09:02 am |Rating: +3 0
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