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2012 Presidential Election (free for all edition)

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Old 08-08-2012, 07:18 PM   #1
Slingin Sammy 33
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Re: 2012 Presidential Election (free for all edition)

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Originally Posted by 12thMan View Post
They would have most certainly gone under.
No, they would've restructured under existing bankruptcy laws. With the ability to completely rework the union contracts they'd be in a stronger position than they are today.
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Old 08-08-2012, 08:20 PM   #2
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Re: 2012 Presidential Election (free for all edition)

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No, they would've restructured under existing bankruptcy laws. With the ability to completely rework the union contracts they'd be in a stronger position than they are today.
The Unions had already made offers of help in any way they could.



UAW members approve General Motors concessions - USATODAY.com
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Last edited by Giantone; 08-08-2012 at 08:26 PM.
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Old 08-09-2012, 09:41 AM   #3
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Re: 2012 Presidential Election (free for all edition)

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The Unions had already made offers of help in any way they could.



UAW members approve General Motors concessions - USATODAY.com
Exactly. The idea that the unions got their cake and ate too is patently false. Everyone had skin in the game.
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Old 08-09-2012, 09:39 AM   #4
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Re: 2012 Presidential Election (free for all edition)

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No, they would've restructured under existing bankruptcy laws. With the ability to completely rework the union contracts they'd be in a stronger position than they are today.
No, they needed a huge injection of capital as well and no one -- I mean no one -- was giving GM money. Credit was tight as you recall.

In the end the company did undergo a restructuring and the unions made huge concessions in the process. That's how the whole thing managed to work.
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