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If GM went to the bank asking for a loan, there would be no mention of it from anyone. When GM goes to the govt to ask for a loan we act as if GM had done something wrong, and if the govt support GM they are going against the wishes of our country.
GM needs a loan. It is not like the govt hasn't imposed restrictions and mandated change from our auto makers. Even though they have done a poor job of running their companies, they have put things in place to stop the hemorrhaging. Due to the economy they have run out of time.
The plan they came up with has a few holes, but it looks like it can get them going to come out of this recession and stay in business competitively for decades to come. I feel for the workers who will lose the jobs due to the economy. Quite frankly, if GM would have put this plan in effect earlier the workers would have been looking for work earlier.
UAW, take a reduction in your interest for each member. It is better to make a little money than to not make any due to companies closing. As a matter of fact, I personally feel the auto makers should de-unionize the auto industry. Due to unions the work ethics have gone away (not in all workers) and they cannot compete with the rules they have put in place over the years (ie...one worker only does one job on one assembly line).
I know many companies out there who would never allow unions to take over. Those employees come to work with specific rules and instructions. Follow them correctly and they will have a long and fruitful employment. Do not follow them and you will look for other employment. This is how it should be.
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