GM and Chrysler ask Uncle Sam for $10 billion to help merger
Tue, Oct 28, 2008
General Motors and Chrysler have asked the U.S. government for a briefcase filled with money to help the sub-par, struggling automakers complete a merger to form one large mediocre company. In exchange for the bailout, the taxpayers would get $3 billion of preferred stock in the new company. Rad. What would employees get out of all this? Probably layoffs as the new company would be under pressure to cut costs quickly.
[CNBC] GM, Chrysler Ask for $10 Billion to Aid Merger
No money till American taxpayer see big cutbacks with UAW at the bargaining table. They need to undercut Toyota and Honda employee salaries to have any chance at all. Otherwise, faggeditaboutit!!!!!