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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (440244)	12/13/2008 10:50:32 AM
From: i-node	Respond to of 1576892

The program is likely to continue if Congress approves a $25 billion bailout of the industry. But if the automakers go bankrupt, some analysts say, they may be able to eliminate the program, which would abruptly eliminate benefits to the workers in it. There is no "may" about it. The automakers cannot be considered "viable entities" without severely curtailing the unions. The so-called job bank will be one of the first provisions to go. I suspect a judge will put them in a room and tell them to come up with a new contract that works or he'll do it himself. And finally, the UAW will get the message. If they go into Chapter 11 they'll come out lean and competitive, or they'll go to 7 putting the UAW on the streets. This is tough medicine for the Big 3, but badly needed.