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Business as usual. Buy this company and clean what is left off the bones, then grind up the bones for fertilizer. The overhead of out of line labor costs and benefits are just to much for the old American car makers and unionized industries to carry anymore. Blackstone can buy the company, put it into bankruptcy and the taxpayers will pick up the reduced retirement costs. The big three resisted natural forces and did well, milked the system and lived way beyond their means for a long time, but time is on natures side. Things have a way of going back to it's natural state. One can draw the same conclusions when looking at America trying to do things the old way and instill a front man in Iraq to get the oil, all in the name of freedom.
- posted
17 years ago