The Big Three Babies!
It looks like Detroit’s Big Three Babies will be getting a little less than half of their bailout loan, $15 billion. GM, Ford and Chrysler will collapse with this amount of money, why even give it to them. I guess their calling this a short-term loan. I was reading that some economists think they really need $75 billion to $125 billion to survive over the next year. If these automakers had asked for this money a year ago Congress would have told them no way. The U.S Congress is only agreeing to this because we really can’t afford to lose anymore jobs as a Nation. I liked President Bush’s idea, just them the $25 billion already sitting there for them. The only think is the bill that gave them that money is for building cleaner running cars, but no one likes that idea. I say let all three fall apart, they deserve it. This way, by filing for bankruptcy it will break all contracts with the UAW. And then they could layoff every single employee, then hire them back at half their pay, they would save billions. These works are getting paid over $50 an hour just to make a car, that’s way to high, blame that on the UAW. The automakers would come out of bankruptcy so much stronger than trying to get these loans. Most if not all-big companies come out of bankruptcy much stronger. It’s like starting with a clean plate.
