Quote:
Originally Posted by nards444
Well the workers are between a rock and hard place. If they dont accept terms now their chances of getting something better during CH. 11 will be worse. I think this will help either avoid ch. 11 or significantly speed it up. If you think about the employees is one of the big problems they face. The UAW needs to go or needs to be restructured they suck so much money out these car companies its rediculous.
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I agree.
GM offers the Unions the lion's share thereby giving the impression that GM will stand by the Union, even in bankruptcy court. However, GM offers the bondholders a meager share therefore bankruptcy is forced. At that point, GM then has the upper hand and can achieve one of thier main goals; to re-structure's thier Union contracts at much more reasonable rates. Just my $.02.