On Apr 28, 2009, at 3:47 PM, Steven L. Robinson wrote:
> 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.
Nothing is got for nothing, as Emerson said. Of course, there are big concessions from the UAW. But they've got huge equity stakes in two companies now. What are they going to do with it?
My guess is that they have no fucking idea, and won't do anything interesting. I deeply hope I'm wrong.
Doug