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Just say NO! As pointed out in a WSJ article Saturday, Ford & GM have "invested/re-invested" $465 b - that's Billion with a "B" in their operations over the past 20 years - $365b of that in the last 10 years. What is there to show for it?? Nada. Zilch. Rien. With $465b, they could've bought Honda, Toyota, & Nissan. That $465b of capital has been simply wasted...destroyed. and now they want MORE - only taxpayer money this time. Wrong! The problem with the "Big 3" is that they are locked in to too many unprofitable contracts...not just labor/union contracts, but leases, pensions, local govt agreements etc. All those symbiotic, unprofitable, mis-managed contracts are legally enforceable. The only way to escape/void those contracts is through bankruptcy. A chapter 11 bankruptcy would allow renegotiation of all those contracts, freeing the "Big 3" to pursue profitable ventures. Additionally, let's not forget Washington's contribution through CAFE standards that are based only on US fleets rather than worldwide fleets. And finally, why, despite my eighty hour work weeks, when my family is struggling to make ends meet, pay for exhorbitantly priced health insurance ( in which all claims are denied), and pay continually rising Fed, State and local taxes, should I have to pay for those UAW workers who are earning far more, doing far less.
By Barry L
Search Boortz.com
