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'Automaker Aid Hinges on Restructuring'

That's the headline on this Wall Street Journal story. In fact, the only hope GM has for flying out of this current mess is to declare Chapter 11. It allows them to reorganize and most importantly;y will allow them to abrogate their costly UAW agreements. For too long they promised what they simply cannot afford to deliver in the hopes of buying labor peace. What they bought was a rock around their necks. Time to start with a clean slate, and Chapter 11 is the only way to do it.

That's why the UAW and the Obama Administration oppose it.


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Comments (1)

Marge Klang:

Right you are!

Consider this prescient piece o' work by a radical centrist:


Better still, post it on your site and show the world you care!

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