Also in this playlist...
This transcript is automatically generated
Take a buyout money and -- -- keep running with monthly -- -- -- thousand GM retirees.
Have to make that decision by tomorrow now one retirees total -- is said to be about 800 grand that's compared to the 4800 bucks he gets each month right now.
They -- says the taxpayers really over this.
I just -- much about a lot of companies.
Would prefer to get out from their pension obligations by offering lump sum payouts to workers.
Why is it a big deal -- here.
I needs a big deal could -- using taxpayer money deal.
That there'd be no money to pay were it not for that bailout and and when you think about how people must feel workers in.
Workers who have gotten their pensions cut back and other places even even government workers in San Diego and San Jose are facing big pension cuts.
Pilots at American Airlines and United Airlines.
People at Eastman Kodak in Bethlehem steel.
There was no safety net for them.
But because they're -- favored class because GM happens to be in a big unionized industry and because it happens to be in a swing state.
They get a big bailout and that's got to feel so horrible for those people who were in the same situation and had no safety net to land.
Well it's a very good point but alternate -- look at it this way because of the -- minds on this.
What about the whole rescued -- to -- wasn't advisable because I think it's a slippery slope leading that side.
If you're stuck with a unfunded pension liabilities as a rescue company or not rescued company as a vibrant company or non vibrant company.
You've got some deep doo -- -- in your ways of the one way to get out of it.
Longer term for your longer term survival is to get -- -- and this is one way to get out of it should we as taxpayers seeing GM is just an investment welcome this as a way to make them a more -- Well look -- -- AB and that is already money flushed down the rat hole bailout that with tax benefits.
Cost about a hundred billion dollars is currently on our books are taxpayers books and only about a third of that.
So you know is this a little ports correction that might add a billion here a -- -- and -- to our pocketbook.
May be but that's not the issue.
The issue is this this I -- a well it's is another manifestation of what is popularly called crony capitalism.
It's it's people at the top deciding to reward friends deciding who the winners and losers are instead of any merit or or any kind of accomplishment.
You know it's weird we did get wind it is on the same week we learned that -- -- -- -- -- -- -- transportation -- -- -- -- money.
-- an attempt to Darren that pension benefit guarantee corporation thing that is the -- -- but the government intentions.
Go bad is we're.
Well make -- money gets transferred to where it's visible -- words politically expedient and that is that in the end.
That's the problem -- something other than a capitalist system.
-- well put always good seeing -- Could see you Dave meaning.
Filter by section