GM fails because of poor management and has to be bailed out and now?

[Remodeling Maidiac]

We still own 26% of GM and they are up to mismanagement again. Remember, despite the bailout they had to go bankrupt anyways because they couldnt afford the union benifits. So what do they do?

Pay raises. No extra employee contributions to benifits. A 5k bonus to EVERY CURRENT employee

Apparently NOTHING was learned about fiscal sanity despite all of us bailing them out.

UAW wins raises, signing bonuses - Associated Press - POLITICO.com

 

[blastoff]

"The deal, which was reached late Friday, also includes a $2- to $3-per-hour pay raise for entry-level workers over the life of the contract and guarantees of more union jobs..."

Sure hope that means assuming the business warrants more union employees, not just more union jobs regardless of the state of the business.

 

[CrusaderFrank]

Hopefully, the next Administration cancels all the UAW contracts, claws back their equity in GM and makes every single UAW member live in Detroit

 

[Remodeling Maidiac]

This left wing fiscal ideology is infecting our country. No wonder the poor are poor if they keep throwing good money after bad. Just piss it all away because someone will rescue me.

 

[CrusaderFrank]

This left wing fiscal ideology is infecting our country. No wonder the poor are poor if they keep throwing good money after bad. Just piss it all away because someone will rescue me.

Maybe GM will buy Obama's Bankrupt Green Energy Company? Finance it with a loan from Fannie?

 

[VaYank5150]

We still own 26% of GM and they are up to mismanagement again. Remember, despite the bailout they had to go bankrupt anyways because they couldnt afford the union benifits. So what do they do?

Pay raises. No extra employee contributions to benifits. A 5k bonus to EVERY CURRENT employee

Apparently NOTHING was learned about fiscal sanity despite all of us bailing them out.

UAW wins raises, signing bonuses - Associated Press - POLITICO.com

What do you expect? The UAW was put in charge, right?

 

[daveman]

I'm not sure which is greater: This administration's incompetence, or its corruption.