Wouldn't it have been cheaper for the taxpayers to buy out

Skidmore

(1000+ posts) Send PM | Profile | Ignore

Mon Mar-30-09 09:10 AM
Original message

Wouldn't it have been cheaper for the taxpayers to buy out

the automakers' retirement plans? Just pay benefits to those people collecting from them. Start the companies anew, contingent on the production of better mileage cars and production of vehicles using new energy.

Restructure and retool without hurting workers.

Printer Friendly | Permalink | | Top

AllyCat

(1000+ posts) Send PM | Profile | Ignore

Mon Mar-30-09 09:14 AM
Response to Original message

1. That wouldn't keep the few wealthy folks in this game rich, now would it?

We can't have the top 0.1% of the players in this debacle not make their billions. They can't make billions if we do something sensible like that.

Printer Friendly | Permalink | | Top

dkf

(1000+ posts) Send PM | Profile | Ignore

Mon Mar-30-09 09:21 AM
Response to Original message

2. The purpose in trying to save the automakers was to save

jobs. Failed retirement plans have their own contingency plans, aka the Pension Guarantee Fund.

The pension fund could have bought out the company using less than a third of the fund, but they chose not to. That tells me they don't think its a viable operation either.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Mon May 06th 2024, 06:22 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.