Like I said before, GM may not have had as many CEO's but it was going under due to mismanagement and not reinvesting into the company, plus the extortion of the UAW. Those people don't realize it yet but the UAW put up their pension plan as collateral to buy 49% of the company. If it fails again the workers will not have a pot to piss in.
Hostess had reached agreements with the Teamsters (who were crossing picket lines) But the Bakers union continued their strike. Also Hostess was asking for a 8% pay cut that would be paid back to the employees over 5 years.
Now they get nothing, not even unemployment because they lost their jobs while striking.
Obama has claimed time and time again that he cares for the middle class and that he saved the auto industry. ( actually it was Bush not Obama, but Obama did change the way the bailout was done so the UAW could end up with a large part of the company) Why not bailout the Twinkie industry?
Like I said before Obama is ignoring this because the Baker Union did not donate to his campaign.
Frankly I really don't care because theese people screwed themselves. I jut wanted to point out more of the Obama hypocrisy.
Re: So Why No Gov Bailout?
Member #: 5567
Registered: 1996-2001
Posted:
3797
Name:
John
Company:
County Gov
Occupation:
Fiber Design, Construction, Maintenance
Location:
Washington DC
Personal:
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