Tuesday, April 14, 2009
GM to profit from the Obama bankruptcy plan
General Motors will used the economy excuse to file for bankruptcy on there US business even though GM World Wide is quite profitable. Years ago GM spun off its worst and called it Delphi in an effort to shake Unions and cut costs. For the past 10 years GM has been shutting down plants and moving there companies out of the US to further shake out Unions. Now with The federal government using US Citizens tax money to further GM movement to shut down plants and move more jobs out of the country, GM wants to take it one step further. If GM does carry through with filing for bankruptcy, it may allow them to get out of paying any insurance and RETIRMENT benefits to its dedicated employees. Several months ago GM saw an opportunity to rid themselves of the Contracts they agreed upon and it looks like they just might get away with it. Best of all they can blame it on the Obama Administration for suggesting that is the only way out.