Bankruptcy Gm Pension
Should GM file for bankruptcy to void all of their contracts with and obligations to the UAW?
With a bankruptcy they could get rid of all pension plans and health benefits to retirees, and pay current employees a much more reasonable wage. They could then produce cars that people want and can afford.
UAW is the worse union in history. In the last 20 years it has become nothing but greedy and corrupt. a Chapter 11 would allow GM to void the current contracts and offer the union employee’s a new contract at lower wages and benefits. The UAW would cry bloody murder over this but there are tons of people would would take there job in a second. Even if they start at $14 a hour that’s way more then most people get who work in a factory that is now mostly automated.
The Delta Employees’ Bankruptcy Experience
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