The Chrysler Michelle
Submitted By Todd on April 29th at 3:10pm
a big butt. Sleeveless.
GM said it would speed up six factory closings announced in February and close three additional facilities in 2010. Henderson expects to identify the plants in May and said they will include assembly, engine, transmission and parts-stamping factories.GM and Chrysler, under the new ownership structure devised by the President, will not be companies of any impact. They may as well build Michelles, or Sashas, or Edsels, for that matter.
GM will also cut 21,000 hourly jobs in the U.S. by 2010 — 7,000 more than what the company outlined just two months ago.GM and Chrysler will be kept alive only so that they can launder money on behalf of the federal government.
With the factory cuts, GM will be a mere fraction of its old self. At the end of 1991, the company had 304,000 hourly workers in the U.S.; by the end of 2010, it would have 40,000.Rather than having the federal government bail out the unions and their unsustainable legacy costs directly if the companies were allowed to fail, better to keep the car companies barely alive and funnel the cash through them. The companies pay the cost of benefits, so taxpayers don't realize that we're footing the bill.
United Auto Workers President Ron Gettelfinger said the union's factory-level leaders voted unanimously Monday night to recommend that members approve concessions that could give a union-run trust 55 percent ownership of a restructured Chrysler LLC.That's right. The UAW will have a controlling interest in Chrysler while FIAT gets a one-third interest. At GM, things will be worse.
Combined, the union and government would own 89 percent of the century-old automaker, which has been bleeding red ink and is saddled with more than $62 billion in debt.The government is controlled by Democrats, who have long been partners with the unions. The Obama administration and the Democrats are the same thing. They'll control GM.
Current GM shareholders would own only about 1 percent.Who'll be designing the cars? Why not Barack himself, who will be well positioned to instruct the manufacturers on mileage requirements, design features, and even the model names.