Comments on: UAW president says Big 3 should cut back on executive pay to get $25 billion loan

By: Bobmarley

Bobmarley — Tue, 02 Dec 2008 17:40:03 +0000

+1 zermatt

let them file chapter 11…this is exactly the case that it was created for

…Im currious to see what the big 3 present to congress today. I look at this situation from an investors point of view and I think it is too risky especially when you are investing someone elses money

By: Bobmarley

Bobmarley — Tue, 02 Dec 2008 09:40:03 +0000

+1 zermatt

let them file chapter 11…this is exactly the case that it was created for

By: zermatt

zermatt — Mon, 01 Dec 2008 19:24:57 +0000

And what did Ron say about the UAW’s contribution towards cost reductions? Nothing?

Just as I thought.

Anyone that believes that $25 billion is going to be enough to help the “diminishing three” make it through this rough period is delusional. GM alone has been burning through cash at the rate of $2 to $5 billion a month. In a few months will the automakers and the UAW be back to ask for more?

Let the automakers file for chapter 11 bankruptcy.