Evidence of the sheer stupidity of the Big 3 CEO's, riding their Gulfstreams to DC to beg for cash, is the additional fact that they didn't really have a case to make.
Unless you call "please bail us out, we're going under" a case.
Here's an idea.
Federal Government, just say no.
Big 3 shareholders, fire your boards of directors and CEO's and put actual intelligent businesspeople in charge.
Management, get in a room with the UAW and hammer out a deal. They give back on some salary and benefits in the short run in return for employee ownership in the company. If and when the company makes money again, so will the union membership.
Make more deals with the union in the areas of quality and productivity. The more productive each union member and the better quality of the product, the more they stand to make from improved sales. Actually ask the Union bosses to allow the company to cut loose the dead weight.
Not to mention cutting loose the dead weight in the executive suites and the engineering departments and the administrative departments.
That sounds to me like a company that could survive and prosper.
Instead of the company that's asking the government for billions in bailout dollars that will end up funding union pensions and management golden parachutes.
America, where have ye gone?
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