Re: [Pen-l] labor and the auto companies

["Jim Devine" <jdevine03@xxxxxxxxx>]

David B. Shemano wrote:
> A year ago I suggested that the UAW simply buy GM and the employees could then pay themselves whatever they wanted.  The total market capitalization of GM today is around $1.5 billion, which is essentially nothing.  A mind-boggling number for a company that had $165 billion in sales for the past year.  If $1.5 billion is too expensive for the UAW, GM could file chapter 11 and UAW could propose to exchange some claims for the equity and own the reorganized GM.  SOCIALISM NOW!<

I'd bet that the UAW would rather keep a diversified portfolio instead
of putting all their eggs into a lemon. (mixed metaphor alert!)
-- 
Jim Devine /  "Nobody told me there'd be days like these / Strange
days indeed -- most peculiar, mama." -- JL.
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