Originally posted by Pigeon:
Originally posted by sigma:
Have the government take over their pensions:




Uh, NOOOO!!!! Why the hell should every American taxpayer including ME have to pay the pension bills for a multibillion corporation, one that willingly entered into the obligation to pay those pensions? One that last month paid Fiat $2 Billion to get out of a deal wherein Fiat could have forced GM to buy Fiat's failing automotive operations? Poor, sad GM.

Try building a top quality product, one that can compete with the current generation of Hondas and Toyotas, not something like the new Pontiac G6 - a car that's barely up to the bar set by the last generation Accord and Camry instead of setting the bar higher than those cars are. Then you won't have to tack on several thousand $$ of incentives to sell your cars, they'll sell themselves at or near MSRP and cover that pension burden.

Scott



I never said that I agreed with it, but it is almost certainly going to happen.

But not in a "government taking over pension" plan. But because GM has been seriously considering bankruptcy for some time, even before they posted a $1.1B loss last quarter. GM will declare bankruptcy in the near future, if for no other reason to get out from under those horrible union agreements that it has made in the past. Others are likely to follow suit, particularly Delphi. Faced with hundreds of thousands of US workers no longer having pensions the government will take over the funds.

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