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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (440568)12/15/2008 3:36:04 PM
From: tejek  Read Replies (1) of 1573711
 
Corker was on FNS yesterday and basically said, "We had the bondholders willing to accept a 70% cramdown, yet the UAW would not even come to the table." UAW wouldn't accept ANYTHING -- NO cut of any kind. He said he called up the UAW guy and pleaded with him, told him the bondholders were agreeding to a 70% cut, and all UAW had to do was to accept parity with the labor costs of Japanese manufacturers. Further, he's willing to allow that parity to be determined by an Obama Secretary of Labor!

Link please.
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