| "They want unions to cut them a break" Sort of. It would be at least as accurate to say that the UAW wants the US gov't to hand over $25B (or $50B, or $75B) to the big 3 s.t. all 4 entities (Ford, GM, Chrysler, UAW) can carry on with business more-or-less as usual, and stay out of bankruptcy court. Chapter 11 would likely mean bad things for the UAW. It seems (and, of course, w/o seeing the books, it's awful hard to tell) that the big 3 just can't make money - despite making some pretty nice cars - due to labor costs that are perhaps 150% of market, and a bloated dealer infrastructure that can't be trimmed due to franchising laws. Plus, a lot of b------t mandates (CAFE, etc.) to make products people don't really want. The Detroit bailout isn't about saving the jobs of the executive teams (who can always get other jobs, and hell, who tend to be highly incentivised to stick around through Chapter 11) or saving the US manufacturing base (it's not like all those factories will go poof overnight, or all those cars will stop being built and sold) or avoiding shocks to the economy, or preserving shareholder value (which has already been largely wiped out). It's about propping up an uncompetitive cost structure in order to serve special interests, with a side-order of do-gooder power-tripping meddling. And none of it has a g-----n thing to do with how the big 3 CEOs travel around the country. Sorry about the rant. But the idea that the unions are gonna get all huffy about the private jet angle, or indeed that this is some sort of "suits-vs.-line-employees" drama strikes me as wrong-headed; if the bailout doesn't happen, no one is going to be more unhappy than the UAW. |