Wait a sec...i thought sense Gm went bankrupt that severed all contracts with the union?
I could have swore i heard that a few months ago on CNN that when they did go bankrupt that it would do that. If not then eh..my bad.
Wait a sec...i thought sense Gm went bankrupt that severed all contracts with the union?
I could have swore i heard that a few months ago on CNN that when they did go bankrupt that it would do that. If not then eh..my bad.
Life is a thought, think about it.
Originally Posted by YoTa_BoX
Legally GM can void any and all contracts with its bankruptcy, just like Chrysler could. Look where Chrysler is now though. Obama stepped in and forced a deal that gave the UAW a senior stake in the company even though they were a minority bond holder. The majority bond holders were screwed and given $.30 on the dollar of their investment in return.
The UAW is a VERY strong union and they have massive political backing in Michigan and Washington D.C. Until that political backing dries up, the Big 3 have no chance of dumping the unions, thereby no chance at becoming profitable when competing with the imports that do not have to pay for the unions.
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