I don't want a penny of taxpayer money spent on bailouts or bridge loans or 2 month tax free holidays.I would authorize it for legal expenses to prosecute all the politicians who put us in this position.
What are the odds of getting the Big 3 bondholders to agree to a value reduction of 20 cents on the dollar?Of getting the UAW to scrap the existing labor contract and accept the wage and benefit reductions immediately?Of getting the CEO's to step down?The thought of Congress running your company should make Chapter 11 look far more appealing.
I don't see a valid business plan which encompasses everyones sticking points.GM,for example,is saddled with $60 billion in debt,1 million healthcare members,an overpriced advanced technology platform in the volt and an ingrained arrogance of entitlement.If you take the politics out of the equation,I don't see a lending facility that approves this.
UAW members are only guilty of not planning for the future better.No one would turn down the good wages and benefits they have enjoyed for so long.However,no industry can sustain this long term.
Prepare now for what you don't know.The supercomputer doesn't exist to crunch all the variables upcoming to ever predict the future.As always,knowledge is your best bet.More to come...
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