My friend works for GM as a UAW member. During the years 1992-2006 he worked TWO years and got paid for the rest. Here's the sweet part. He didn't have to go to a "rubber room" and complete crossword puzzles. He traveled, worked other jobs, and was on a 24/7 vacation. There was an occasional meeting that would interrupt his three-month winter visit to Florida but that's when he would fly home! I've explained that I don't blame him for taking advantage of this situation. He doesn't see how this deal is bad for GM!

Why does everyone assume the CEO's are really trying to get the bailout? After really watching the CEO's answers and seeing how they did everything in their power to not get the bailout, I don't think they want it. They have to make it look good for the unions, but should be more than happy to let their company go bankrupt so they can get rid of the Union contracts. These guys are not stupid, they are the brightest guys in the industry, give them a little credit.

Bad planning and massive cost cutting helped, but it's pretty clear the unions have done more than their part to destroy the auto industry.
Sure American auto-makers have been producing mediocre cars. Yes they haven't produced cars that create the dreams of our fathers (my dad STILL wants a '61 Chevy Bubbletop - what's the last non-corvette chevy anyone's been dreaming about?). Somewhere between the early 70's and the late 80's cost cutting became the most important function of US automakers. Why? Because Unions began to own them and pushed and pushed with much support from whiny liberals who talk about 'pay gaps'. The typical guy who works at the plant is a high school graduate. The guy who runs the company has a high school degree, a bachelors degree, and an MBA. Who deserves to earn more? The guy with no education who tightens bolts for a living or the guy steering the ship? Now the big 3 heads have all turned the wheel the wrong way and deserve to be punished, that's a given. But the bad decisions can be fixed, inflated union contracts cannot.
The average UAW worker makes over $70 an hour, 50+% more than a PHD holding college professor.
Meanwhile, japanese maker workers average $40 an hour. That's a HUGE difference and can be directly tied to profitability issues that have destroyed the industry.
Kill the unions as part of the reorg or watch millions of workers become unemployed and three enormous, wide reaching industries cripple our economy...

Hey, how can I join a union and get in on the Job Bank! Sounds like a sweet deal!

Seriously though. My Grandma used to say, "You made your bed, now you gotta lie in it", So, let them lie in it, the Big 3 and the unions!

The present contracts the big 3 have with the UAW simply are not competitive with other auto manufacturers. The big 3 are at a significant competitive disadvantage. In testimony the CEO's and the union, all spoke about how they are moving in that direction and that the unions have made significant concessions. There is no comprimise solution here, either the big 3 get their business metrics to where they have lower production costs or they will fail. Any tax dollars going to these companies must be tied to a plan that immediately gets their costs in line. Anything less is like putting a bandaid on severed artery.

I'll say it again.... Let them sink! I am sick and tired of the gov. using my tax dollars to bail out private industry.... period! The market will adjust.... and the average $ 78/hr. UAW line worker will eventually secure a position somewhere else..... geez, talk about unions breaking a company's back (and extremely poor business decisions).... reminds me of the Delta pilots...

lest we forget, the more union members on salary the more money the unions have coming in in membership fees, and the more they have to spend on getting those who support unions (ie democrats) elected. Bread and circus,

I do not believe allowing the big three to go into bankruptcy is the right answer. There is no easy, simple answer to this problem. The big three are global companies with global impact. Much of what has happened over the past 3 decades can be directly attributed to the Unions and their Gestapo tactics. Yes, bankruptcy may temporarily dissolve the UAW contracts, but when push comes to shove and the Auto companies need to hire people to man the factories, who is going to be first in line to block access to all non- union applicants? So the problem does not go away.

I genuinely feel the bail out is needed but must be attempted with several stipulations, 1) Unions are to be banned from the industry. They have wreaked enough havoc on the American industry. 2) The money must be repaid with interest. 3)The Big three must re-educate the consumer. The Big three have continually said they were only building vehicles the public was willing to buy. Proof in point- You couple learns they are expecting their first child- the very first thing they do is go trade in their sedan, coupe, truck or whatever vehicle they are currently driving for the biggest, safest SUV (7-9 passenger capacity) they can find. All for 2 adults and an infant. The public's sense of priority and keeping up with the Jones' is as much to blame for the current crisis as anything or anyone.

As for Obama Bin Ladin- Does onyone else recognize that he is surrounding himself with the very same people responsible for the large mess we are in today from a financial standpoint? Seriously, this all began back in the Clinton years when it was in vogue and proposed by Clinton and his hacks to relax the lending requirements. As a broker friend of mine said back then, It was a license to print money and steal. I foretold in 1997 this day would come as a result of that grave mistake. It just took a bit longer than I anticipated.