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No, GM does not deserve a bailout. However, they do deserve a loan, which is what they are asking for.
Nov 26 14:19 pm
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All Comments by AmericanVOR »Has General Motors Earned a Bailout? [View article]
"...it is hard to see a viable path forward. GM is basically paying $30/hr for labor more then the transplants... This is a significant cost advantage which will simply, at some point, push GM back to bankruptcy's door again..."
V.E.B.A. It has already been agreed upon and signed. It essentially eliminates the labor cost difference that people and media keep bringing up over and over and over and over and over...
That issue has been resovled and is a valuable metric in the plans for GM's resurgence.
" ...All of the Big 3 need to downsize their workforces, but they can't afford to do ..."
GM has cut its payroll drastically, by 45.8 percent in the U.S. alone since 2000. In fact, GM is far from the largest employer in the industry. With 252,000 employees worldwide, GM ranks fifth overall behind Volkswagen (373,400 employees,) Renault/Nissan (316,121 employees,) Toyota (316,121 employees) and Daimler (272,382 employees). Yet GM sold more vehicles worldwide last year than any other automaker.