April 07, 2009

The UAW Won't Like This

GM is speeding up plans for a bankruptcy filing. Via Drudge and Bloomberg. GM should have done this a year ago and used a chapter 11 filing to shutter money-losing lines and bring health and labor costs in line. The real question is whether the Administration will actually allow a filing--bankruptcy wil break the grip of the UAW and it has the Dems in its pocket.

Posted by LMC at April 7, 2009 06:16 AM | TrackBack

I will not be surprised when The One announces that as part of the bankruptcy the federal government will assume GM's legacy benefits costs.

Posted by: Stephen Macklin at April 7, 2009 06:58 PM