bu$h* Weighs ‘Orderly’ Bankruptcy for Automakers - orderly union busting imo

i imagine chaper 11 would nulify union contracts?


WASHINGTON — The White House said on Thursday that an “orderly” bankruptcy was one option being considered to try to rescue General Motors and Chrysler, which are seeking billions of dollars to avoid a shutdown.

President Bush’s spokeswoman, Dana Perino, confirmed growing speculation within legal circles that the president and Treasury Secretary Henry M. Paulson Jr. were considering the step as part of an overall rescue package for the automobile industry.

The action would be unusual, and would require concessions by the United Automobile Workers union, suppliers, investment banks, the federal pension board, bondholders and other stakeholders in the two auto companies.
http://www.nytimes.com/2008/12/19/business/19auto.html?hp=&pagewanted=print

economic terrorism, and nothing less.

they pay union wages too.

to figure out what happen here...The Senate Republicans got to Bush and changed his mind....What happen to the Bush saying "we will strongly consider using TARP funds to bail out the auto industry".It sounded certain that GM and the other two could relax now...They were certain to get the 14bln they needed.Then it began to change within a couple days especially with statements Corker had made about union concessions.And now,well the tone has changed..Bush is now back peddling with these statements now about "orderly bankruptcy...Yep the Senate Repukes got to Bush....

the final ultimate gift to big biz


:freak: :tinfoilhat: :freak:

Of this idiot Shrub? Are we down to 34 now????

His outtage cannot happen fast enough.

is sickening...He is actually trying to come across to the Public as being intelligent..and oh yes..Cheney admitting to war crimes with the water boarding issue and "we would have gone to war regardless of WMD's"
And now he is trying to leave a legacy as the President that broke the UAW..kinda like Reagan vs the air controllers legacy....
I just hope GM can hang on for 32 more days..If GM goes so goes the steel industry (and many other auto related businesses) and if that happens I'm forced into retirement.And thats not much after losing 13% in the last year.

Bush is hurriedly trying to give a little publicity lift to his legacy because he realizes that he's going down in history as an asshole.

Too little, too late, Georgie Boy!

In my opinion, if GM goes...so goes the American way of life - not that much of it isn't already gone.

I have several family members affiliated with GM, so it hits close to home. I honestly don't think that some people realize the ripple effect that something like GM's death will cause.