[lbo-talk] U.S. auto sector socialized! WITBD?

[Steven L. Robinson]

I can't believe that the US Gov would GIVE the auto workers anything such as stock ownership without getting something in return. 

Presumably, if the UAW is going to have an ownership stake in GM or Chrysler, than it would follow that they would have to come up with some money [in the form of pension funds, perhaps].  or consideration in some other form (deferred raises, if there are any left that haven't been deferred already) or pay cuts.  If so, the autoworkers' assets will be tied to their companies the way Enron employee's assets were tied to Enron, not a promising prospect given the state of the US Auto industry on the brink of bankruptcy.

Still 40% ownership stake is 40%,if the UAW or its rank and file can make something of it, there could be an interesting experiment. SR 

----- Original Message -----

From: Max B. Sawicky 

To: lbo-talk at lbo-talk.org

Sent: Tue, 28 Apr 2009 19:34:19 +0000 (UTC)

 Don't know what "equity" anyone was

referring to.

Obviously the stock is kaput.