T
The wise
Guest
Ford, GM, and Chrysler? I empathize and sympathize with those who work for struggling American automakers and letting these companies fail would hurt the many people employed by them and their families. Not to mention it would hurt our overall economy.
At the same time, that is how private business works. If you have bad management and/or a bad product, your company goes under. For years American manufacturers have made products that are perceived, [mostly] rightly or wrongly, as being subpar compared to Asian or European cars such as Toyota.
Also, on Anderson Cooper 360, I heard that some of these autoworkers have ridiculously good contracts to the point that its draining the company; Wages up to $75 dollars an hour, powerful unions demanding high benefits or the treat of a strike, 96% of their salary is still payed for up to 2 years after they are laid off (essentially money for not working), etc.
It makes it hard to decide whether these companies should fail when thousands of American jobs are on the line, but at the same time, there's a reason bad companies fail. I think perhaps Chapter 11 would be best to restructure the company and its management and assets; what are your thoughts?
At the same time, that is how private business works. If you have bad management and/or a bad product, your company goes under. For years American manufacturers have made products that are perceived, [mostly] rightly or wrongly, as being subpar compared to Asian or European cars such as Toyota.
Also, on Anderson Cooper 360, I heard that some of these autoworkers have ridiculously good contracts to the point that its draining the company; Wages up to $75 dollars an hour, powerful unions demanding high benefits or the treat of a strike, 96% of their salary is still payed for up to 2 years after they are laid off (essentially money for not working), etc.
It makes it hard to decide whether these companies should fail when thousands of American jobs are on the line, but at the same time, there's a reason bad companies fail. I think perhaps Chapter 11 would be best to restructure the company and its management and assets; what are your thoughts?