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Detroit Bailout: How It Can Work
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What has to give in government oversight and reshaping the debt and costs at General Motors? The auto workers and retirees inspite of all the givebacks still pay only 5% of theirhealthcare costs vs an average of 30% for the rest of Americans with healthcare coverage. With a sharing that reflects the national average GM wouldn't have to shoulder the size of the health care obligations for union workers and retirees of the sum of $47 billion. And the debt holders of GM debt, the bondholders would take a cut of something approaching Senator Corker's proposal to trade debt for equity at a 70% discount. That would reduce the GM debt from $63 billion to less than half that.
The new GM and the problems it will continue to face.
02/13/2006
GM faces intense competition in a shrinking market. And building appeal to younger demographics customers is critical to GM.
Grouped Articles
Some G.M. Retirees Are in a Health Care Squeeze
New York Times 11/10/2008
Detroit Auto Makers Need More Than a Bailout
Wall Street Journal 11/10/2008
Wall Street Journal 11/10/2008
Skeptics Present Another Obstacle for GM
Wall Street Journal 11/12/2008
Wall Street Journal 11/12/2008
Auto-Industry Crisis Tests Obama
Wall Street Journal 11/08/2008
The new Chrysler that is emerging from bankruptcy with government help under Fiat's Marchionne.
11/10/2006
Marchionne has kept many of the managers from the previous Chrysler. Jim Press is deputy CEO and adviser. He came from Toyota. Everything else will change. He is flattening the organization structure to improve communication and speed. Smaller car lineup will replace the prior lineup, and Fiat's engine technology will provide help for fuel efficient cars.
Grouped Articles
Fiat, in Deal With Union, Will Buy Rest of Chrysler
New York Times 01/01/2014
Worker Reaction to Chrysler bankruptcy
Detroit Free Press 05/04/2009
Bankruptcy reality sets in for Chrysler, workers
Detroit Free Press 05/04/2009
Chrysler reborn under alliance with Fiat
Detroit Free Press 05/04/2009
Impact:: Bankruptcy Announcement
Detroit Free Press 05/04/2009
Chrysler tried in vain to sell parts to Chinese, form partnerships
Detroit News 05/04/2009
Detroit Automakers and the UAW vs the nonunionized plants- what went wrong?
12/09/2008
With job security gone at Detroit automakers amidst a series of bad decisions by unions and management unwilling to make a total break with the status quo to the point of reinventing themselves, and lacking the courage and the vision to do so, what good are these higher medical benefits? Isn't an employee who has his job and lesser medical benefits at anonunionized plant better off than one who has either lost his job or about to lose it at aDetroit automaker plant?
Linked Articles
Detroit Bailout: How It Can Work
BusinessWeek 12/09/2008
Detroit News 12/16/2008
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