Dividends Anonymous

General Motors: Time to Pull the Plug

I think the unions aren't fully responsible, but they certainly didn't stop this ship from running onto the rocks. Do people seriously think that $50/hr to put a door on a car is productivity? It's a depreciating asset.
The bottom line is that workers are overpaid for their work and that contributes to the broken business model. Do GM workers deserve to make more than engineers, nurses or teachers? When you measure meaningful productivity the UAW's are overpaid on wages and benefits. Yes they got that because of the big 3's sickening addiction to SUV's and higher margin vehicles but UAW management should have been smart enough to see that as unsustainable.
Capitalism works best when the weak are allowed to fail. There are no freebies in business and Chapter 11 is calling their names. That will make them more competitive - not a bailout or infusion of funding