GM predicament not so complicated

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Auto giant GM’s problems

are not nearly as complex as the pundits and politicians and economic wizards want us to believe.

Saving GM senior management and bondholders’ wealth is the current primary goal. It should be saving and creating living jobs in a revitalized, inventive industry run by workers, not parasites and crooks.

After all, what does society need? An industry that develops transportation that limits climate change and fulfills human requirements: light rail, trains, buses and fuel-efficient cars. This is what autoworkers proposed – a refreshing concept after years of mismanagement by CEOs who pushed SUV’s for profit.

Big wheels in the industry and government are meeting to decide between whether to downsize or go bankrupt. Both moves stink.

What really needs to happen

is quite simple. Nationalize auto companies and layoff the suits, not the workers. Take back the bailout and bonus billions and put them into the publicly-owned industry’s operating budget. No concessions from United Auto Workers. The problem is not that union auto workers make too much. It’s that other workers and retirees don’t make enough!

The real question is, which is going to win? Production for need or for profit?

CEOs and such who refuse to go along can go to jail and keep Bernie Madoff company.

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