regardless of how, and why GM is losing billions of dollars...the fact remains...GM is losing billions of dollars, and most of the "experts" agree (even some GM execs agree) that chapter 11 is the best route.
I really feel for anyone who has lost their pension, or is going to loose it...but the UAW is partly to blame for GM's current situation. They aren't innocent in destroying this once great company - and them lobbying congress to make us (and our children) libel for their misdeeds to protect their pension plans is morally wrong.
At least in my book.
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Originally Posted by Blue-S
I'm no fan of GM, but the concept that "no one was purchasing the widget" just doesn't fly. It was big news that Toyota finally overtook GM in 2008 as the world's largest automaker, as measured by sales. How can it be said that no one was buying the widget, when the company is #2 in sales?
As for the loss of pension in a Chapter 11...that shouldn't happen.
http://www.pbgc.gov/media/key-resources-for-the-press/content/page13542.html |
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