Thread: Auto bailout
View Single Post
Old 12-05-2008, 01:03 PM
Senior MemberPLEDGERPLEDGERCaptains Club Member
Join Date: Sep 2004
Location: ATL & SAV
Posts: 12,345
Likes: 0
Received 1,999 Likes on 987 Posts
Default RE: Auto bailout

Chapter 11 the POS companies. The fed can provide DIP financing. The CBA's should be tossed out and the unfunded pensions sent to the PBGC (the bene's can expect significant benefit cuts). The union wages should be benchmarked to the nonunion wage scales of the autobuilders in the south. CAFE standards should be scraped and the CEO compensation shouldn't be touched. The current stockholders should lose everything and the creditors should receive massive principle haircuts.