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Politics : Politics for Pros- moderated

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To: Ruffian who wrote (284028)	12/12/2008 3:42:50 PM
From: MulhollandDrive	Read Replies (1) of 793996

well there you have it....incompetent fools....so let's see the bill did the following (from tickerforum): 1. Bondholders got 30 cents on the dollar (forced) 2. Executives got no bonuses, salaries were capped, no golden parachutes and no dividends or options until the money was repaid. 3. Labor cost parity had to be implemented immediately - the places this hit that the UAW said no to were taking stock instead of cash for the VEBA (no more raping the company for health care for retirees), pensions could not be held if the UAW couldn't cover it at existing levels, and no jobs bank. ******* WH intervenes and UAW says GFY to a compromise toward viability..

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