DollarTalkNet

Who Might Benefit From Detroit's Failings

Alright, this is definitely a complicated issue, but it is fairly clear that these companies have been mismanaged for decades and that the unfunded pension obligations will continue to be a difficult burden to bear. What I honestly don't understand is why the UAW doesn't just buy GM and Ford. Their combined market cap on 12/3/2008 was less than $10 billion. This also begs the question of why the government would be loaning them between $25-34 billion (depending on the report). What bank would loan any of us double to triple the current value of our home in order to help us get out of a tight spot? More on my blog.