bankruptcy pension obligations

bankruptcy pension obligations
GM should file for bankruptcy, all of its contracts with the UAW and obligations in the void?

With a bankruptcy, they could get rid of all pension and health Benefits for retirees and current employees are charged a much more reasonable wage. You could then produce cars that people want and can afford.

UAW is the worse trade union history. In the last 20 years it has become nothing more than greedy and corrupt. a Chapter 11 would void the existing GM contracts and provide The employees union a new contract with lower wages and benefits. The UAW would cry bloody murder about this, but there are tons of people would take it would work in a second. Even if they start at $ 14 an hour, by the way more than most people who work in a factory, which now mostly automated.

In-Depth Look – GM’s Pension Problem – Bloomberg

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