What Do You Think Will Be Less Costly

No votes yet

...the PBGC will be paying the present retirees of the Big 3 (721,035 UAW retirees plus 200,000 middle class salaried workers) at an average cost of $54,000 a year would come to about $49.788 Billion a year in pensions. That is quite a bit more than they are asking as a 'bridge" loan. I bet the managers of the Big 3 are hoping for Chapter 11 rather than a bailout because then they could look across the table to the union leadership, and say "We tried", while looking at future profits from not having a pension plan to consider.

Old South End Broadway

and holidays, health care, and on and on. How about just defaulting on the pension plans?

Mad Jack
Mad Jack's Shack

ture and drop pension plans. PBGC is instituted to take over defaulted pension plans. The health care for retirees would most likely be dropped since the PBGC is for pensions only.

Old South End Broadway

I sent this to our US Reps and Senators... do the same if you agree! The only way these out-of-touch ELITIST Washington hacks like Pelosi, Reid and others LISTEN is to tell them they lost their election and are "outa there". Feel frre to copy and paste. Emails are found easily w/google search.

Dear XXXXXXX,
I most strongly urge you to oppose any bailout for the auto industry. It is irresponsible and will not correct the problem: mainly, overinflated wages, benefits, and retiree plans. The "other" American auto industry is thriving with happy employees, efficient output, and quality products that American consumers are buying in record numbers. The Big Three are simply non-competitive in the global economy - or even in the domestic market! The Big Three will not disappear; they will either reorganize or be acquired by other automakers - there is simply too much brand value and infrastructure in place for them to disappear. But a bailout will only prolong their demise and cost us - and our children - billions. It is nothing more than pandering to the unions. Your support of a bailout will ensure my not supporting you in the next election and resolve me to work hard to see that you are replaced with someone who truly represents the desires of the majority. Please oppose any more bailouts for anyone!

We are all born ignorant, but one must work hard to remain stupid.-Ben Franklin

...they go under with the Big 3 or should we just let all the auto plants located in the U.S. go under, and import our vehicles from Japan, Germany and other countries that maintain their automotive industries.

Old South End Broadway