If GM is left to crash and burn WE WOULD ALL GET A FIRST HAND VIEW OF HOW DESTRUCTIVE CAPITALISM IS, and it would jeopardize the ENTIRE system, and more importantly, the status quo. So they privatize the profits and socialize the losses instead.
You being an anarcho-syndicalist; you know that whatever happens, the blue collar workers will be at the losing end of the bargain.
Well, the blue collar workers won't receive their compensation. Even now they are freezing everything. The supply base can't handle that right now.
Unless GM fixes the foundation, they will continue to go down.
Pension Benefit Guaranty Corp would probably get another bailout to guarantee the golden parachutes for the white collar workers, but the common worker will be left to rot as usual.
There is a way to help the blue collar workers, but I don't know what good it will do. The link is here.
The article came out today.
It has to do with the new contract;
"It will not “save” jobs. On the contrary, the deal will sanction the destruction of another 23,000 jobs and the closure of nearly a third of GM’s remaining factories. By 2014, only 38,000 UAW workers will remain, less than a tenth of the number working in 1979."
"Supplemental unemployment benefits and other income security for laid-off workers will be cut. The insulting buyouts offered to every GM worker will do little to help workers hang on as they try to find another job during the worst economic downturn since the Great Depression.
The deal will also not prevent GM’s bankruptcy. From the beginning the Obama administration and the Wall Street investors who sit on his auto task force have been determined to use the bankruptcy courts to break up the century-old industrial giant, in order to dump its unprofitable factories, brands, dealerships and “legacy costs.” The restructuring of the industry has never had anything to do with protecting jobs and living standards. Instead, the White House hopes a much smaller GM, with poverty wages and sweatshop conditions enforced by the UAW, will be a lucrative source of profit for billionaire investors.
Retirees will suffer a major attack on their medical benefits. Beginning on July 1, hundreds of thousands of retirees and their dependents will lose dental and optical care. The agreement to finance the VEBA fund with worthless shares guarantees that the UAW will further slash benefits when it takes over the provision of retiree health care next year..."
Continued at http://wsws.org/articles/2009/may2009/auto-m27.shtml
UNDER THE MURDEROUS SYSTEM, THESE WORKERS ARE NOTHING BUT ANOTHER COMMODITY FOR THE GLOBAL ELITE IN THEIR ORGANIZED CRIME OF CLAIMING HEGEMONY OVER ALL PEOPLE AND RESOURCES! The people must learn not to accept this treatment anymore!
Answered By: Mr. Snrub - 5/27/2009