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Politics : President Barack Obama
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To: Wharf Rat who wrote (45103)11/19/2008 10:40:28 AM
From: nigel bates  Read Replies (5) of 149317
 
There is clearly a deal to be done in exchange for any taxpayer funding.

Even those most keen on a bailout are saying that the resulting entities must be 'viable'. That clearly means that healthcare and pension overhead needs to come down to a competitive rate.

I don't know about Chrysler, but Ford and GM, shorn of their legacy costs, clearly have viable businesses. Judging from the models they produce in Europe, Ford are as good as any carmaker out there.

If we were in anything approaching normal economic conditions, I'd be tempted to say let them take their chance with Chapter 11. Given where we are now, that would be the height of foolishness.
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