how about this--posted on someones blog
Stop GM Before They Kill The Economy Again!
Another $16Bn for GM - are they freakin' kidding us?
GM is currently producing 128,000 cars a month, a pace of 1.5M cars for the year. $16Bn on top of the $14Bn we already gave them means it is costing the Untied States $20,000 PER CAR that GM sells to keep them in business. But wait - it's worse than that.... GM only employs 140,000 workers in the United States and their "plan" is to lay off 47,000 of them. That means they are asking for $16Bn to keep 93,000 workers - that's $172,000 PER WORKER! Surely the money would be better spent just giving it to the workers themselves and telling them to find jobs with real companies or, better yet, start their own companies and maybe employ some other people.
So who are we really saving here? I have no pity for anyone who put money into GM over the past few years, they've been on life support for decades so high-risk doesn't even begin to describe the lunacy of giving them money, whether it was stocks or bonds. Just let them die and let Chrysler and Ford buy the useful parts out of bankruptcy and leave us with two relatively healthy auto companies. Even if "only" 1/3 of the current GM employees find work with the remaining auto makers, GM was going to let go of 1/3 anyway and we can give the remaining 47,000 people the $16Bn and that's $340,000 per worker - not bad for a severance package |
