"We do not see any reason to reduce salaries and benefits"
CAW, March 5, 2009
In response to yesterday's news that Chrysler is cutting 1,200 jobs in Windsor, and to today's news that the bankruptcy of GM is imminent without drastic cost cutting and another $30 billion capital injection from government, the CAW just does not get it.
Frankly, I don't care what the CAW says. It is a dinosaur.
What I cannot figure out is why, in response to the CAW, various levels of government are trying to figure out how to bail out the industry.
Its bizarre really. If I was having trouble making my mortgage payment, and told the bank I had no intention of cutting costs, then they would simply call the mortgage and sell the house. That is what we should do with GM, Chrysler and Ford assets in Canada. Put them into bankruptcy and sell off the assets. There are lots of finished cars sitting on lots across Canada that would likely have buyers available, especially with a 30% discount from list.
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