Purging General Motors
Purging: so that's the PC name for it this season.
According to the WSJ
"The Obama's administration's leading plan to fix General Motors Corp. and Chrysler LLC would use bankruptcy filings to purge the ailing companies of their biggest problems, including bondholder debt and retiree health-care costs, according to people familiar with the matter."
OUCH! Weren't these big auto unions pushing for Obama?
As Kilo says " Hows that hope and change working out for you?"
Better stock up in Vaseline, sounds like you might need it.
posted by One Wise Girl at 11:52:00 AM
Comments on "Purging General Motors"
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James Atticus Bowden said ... (6:58 PM) :
post a commentFirst, the wages, including all perks, of the Union management needs to publicized.
Second, watch carefully to see who gets what top jobs.
Follow the money.
It's a shakedown until there is no more money to shake out.