[Pen-l] labor and the auto companies

["Charles Brown" <charlesb@xxxxxxxxxxxxxxxxxxxxx>]

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!

David Shemano

^^^
CB: Hear, hear !

I'd like to buy AIG , too. Can we get them to declare bankruptcy ?





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