Just some thoughts after speaking to an auto sector analyst buddy on how to solve the mess the big 3 are in . . .
1. Buy the big 3 out at current market cap plus 20% (around $10 billion) and put a couple of cpa's in charge who just pay bills. Sell all perks like $33 million jets, and fire board and all top brass. Minimal pensions for these jokers.
2. Combine them all into a single holding company, gov't takes over pension liabilities, (pension benefit guarantee corp (tax payer) is going to have to do this anyway)
3. Stop all manufacturing immediately/retool all plants/ww2 took 5 months to retool keep 10 brands but must all be hybrids or all get minimum 35mpg.
- sell all current stock at dealerships for cost plus reasonable profit. Taxpayers tote note.
- construction boost to plant regions.
- pay workers during process (unemployment benefits anyway if detroit goes boom)
- employees have to accept pay freeze for 5 years.
4. put all employees on gov't health plan.
When things are going better, allow the company to go public, pay back the taxpayers FIRST.
-Prodigal Son
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