Simply Politics and News

[RDG013]

This is a no brainer! Congress must step back and let the automakers file for CH 11. NOt doing so would be a crime against every American Citizen!

Executive Pay would be reviewed and revised in a CH 11, as well as some being replaced. Of course they do not want this and will fight against it, but it is needed.

In addition, the Union scale would be revised downwards in the filing. Once again, the union workers do not wan t this, but their avegage pay, which in some cases in close to double those of the foreign competitors' workers building cars in the the US, is far too high to allow the US companies to be competitive. Not to mention the pension plan which is a further drain.

Finally, the CH 11 would allow the US Co's to get out of leases for dealerships that must be cancelled. I will try to find the link, but in the meantime, I saw that GM has 5X the dealerships of Toyota, while total sales are all but equal. There is potential for huge cost saving on this alone!

So in the end, we must let the market work and hope that our auotmakers emerge much stronger after reorganizing in BK>