fear mongering

 

 

down with the big 3

 

 

The brands of the Big 3 won't go down.  Neither will bankruptcy restructuring send them away.  The UAW is refusing to make material concessions to get the price structure disadvantage of the Big 3 down to those of the import transplants like Honda, Nissan, Toyota who make cars in the southern states.  The only way meaningful changes will be made is to send them through the restructuring process that chapter 11 provides or having a special pre-pack deal struck with the government where a Car Czar will have supreme power to shred the UAW deals.  But no matter what, they need to restructure their labor contracts and pension deals.  GM is carrying way too much debt to keep on this pace.  It's just like the Madoff Ponzi scheme that just fell apart.  GM and Chrylser need to reduce their debts by going through the process of bankruptcy that hits the reset button on some creditors and forces them to take equity instead of holding debt over the company's head.  Chrysler is very similiar, only their problem is both worse and better.  It really looks like Chrysler wants to be acquired by GM, and that would do a lot to alleviate the oversaturation of models, and would provide cost savings in administrative and operational functions.  Ford looks like it could be a huge winner out of all this if they manage to pull themselves up by their own bootstraps like they have been able to do to survive so far. 

we dont ened unions in the 21st century