Tag Archives: UAW

Nationalization of the USSA Auto Industry

Market Forces ought to determine the Fate of the US Auto IndustryNOT intervention from a government saddled with a record deficit. While White House and congressional negotiators seek an Emergency Rescue for the US Auto Industry here’s what Keith Olbermann & Michael Moore had to say:

It’s looking More & More like All Common Stock Shareholders of GM  & Ford are Going to Be Wiped Out – Zero – Zilch – Nada.  First a Socialist Banking System – Now a Socialist Auto Business.

A government “Car Czar” will oversee the bailout – new corporate leadership and  Concessions by the UAW United Auto Workers union.

Goodbye Free Market Economy Hello USSA : United Socialist States of America.

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Death Sentence for Auto Companies UAW Equity Shareholders

In exchange for a Multi Billion Dollar Bailout under a plan circulating in Congress the government would order a major restructuring of GM Ford & Chrysler – Detroit’s struggling Big Three Auto Companies.

Any government aid might be ” highly conditional ” and only occur after a 

  • Replacement of current management
  • Concessions from both the UAW and automakers
  • A Wipeout of Existing Equity and Debt holders
  • Nationalization of the Auto Industry to include a ” Car Czar

A Government-run restructuring would include Massive Downsizing and Labor Givebacks.

Restructure – Reorganize – Get Rid of the Union Contracts bringing them down – A New Business Model and Move Forward

Political Power is Controlled by those who Control the Money Supply.

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