Bailout Watch 155: $25b for UAW

Robert Farago
by Robert Farago
bailout watch 155 25b for uaw

That works, I suppose. Instead of giving– sorry “loaning” GM, Ford and Chrysler $25b, Nancy Pelosi and Co. will tell voters that the money’s going to “help the Detroit 3 meet their obligations to newly created retiree health benefit funds.” So tax money’s not going to incompetent SUV-building American automakers. It’s going to blue collar retirees, who never did a thing wrong except show up for work and put in an honest day’s labor. This according to Automotive News‘ source familiar with the people close to the matter who are actually the people who are cutting the deal but are too chicken-shit to say so and therefore co-opt lazy journalists by getting them to let them go “off the record.” Perhaps this would be a good time to revisit the fact that the $25b Uncle Sam’s minion want to dump into the United Auto Workers’ voluntary employee beneficiary association (VEBA) will fall into the grasp of a union known for corruption, waste, fraud and mismanagement. If that link doesn’t convince you that the UAW may not be the best stewards of your tax money or the workers’ health care, have a browse here. Or have a look at General Motors Death Watch 165. As the Brits say, they’ll be tears at bedtime. Oh, and would it be churlish of me to point out that Ms. Pelosi, winner of the Cesar Chavez award, own a non-union vineyard and hotel, yet counts unions as one of her top three largets contributors?

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  • Itiswhatitis Itiswhatitis on Nov 16, 2008

    Bullseet. 401k's are the BIGGEST fraud of financial "engineering" bs every forced by a bunch of international financiers. Pure bs. It was just a excuse to rip people off of money and loot it into S@P accounts of the pigmen. The UAW doesn't mean sheet. That "union" has had power ripped away over the year and now controls a majority stake of its pensions which it can doll out at ITS CONVENIENCE. Meaning this "bailout" is for the sale of the auto companies sans Ford. I bet you a buck they already have buyers, especially GM. Listen, you want to know the REAL reason the auto-companies are in such trouble: Government selling them out in trade, overcapacity and poor management. Whaaa, whaaa lets blame the HISTORICALLY weak UAW. Until this type of thinking and we get a government that enforces a America first, whatever interest group(business,labor,consumer etc etc) mentality 2nd, we are done as a nation. This type of attitude killed the W.Germany and forced in a really incredibly productive but destructive regime in Nazism. a paradox we can do without the destruction. It is the job of the government to come in and help its homegrown businesses. We owe the great Henry Ford and the Ford family that as he was one of America's great men. The Ford company was in similar shape in the 1930's and rebuilt into a powerhouse post-depression. They will again. Stop the self-righteous internationalism. If you hate this country as much as people like "Casual Observer" leave it. You love the sleaze fraud and mob tactics, leave it and get out. For you others that want to rebuild America as a true power against the foreign bankers and international financial death doctors, lets march together. We can overcome.

  • Itiswhatitis Itiswhatitis on Nov 16, 2008

    Maybe they could move to Cuba- I hear the cars of old are still popular there, and there is universal pension and health care for everyone in that island paradise. Nope, Cuba doesn't have universal pensions, only for the ruling elite. Not for the people. Ditto for health care though they have tried to in recent years to make universal coverage a reality, they still fail because they don't care. The fact you don't know that is sad, I mean real sad. The other fact that you don't know that is sad, that the financial and business elite of America WISH that is how Americans were treated. Treat your country like sheet and then flee when the populace is ready for revolt from your "freedom". Freedom is having any health coverage at all. Most of them are usually "free market" types. Frauds, all of them. Worship those Hewbrew economists. As bad as the Marxists. Same coin on a different side. oh for your information, had a Honda Accord in 2005, got rid of it because it stunk like hell. Breaks were always breaking down. Got rid of it and got a G8. Terrific car. Should have never left GM. Only ever had one car from them that stunk and that was the Olds Cutlass back in the 80's with Oil leaks. Yeah, all those old sorry blue collar losers who made those "awfull" cars should be treated like crap. Uh, no you should be treated like crap sir. You probably have never produced a damn thing for this country in your life, thus your right to say that is a joke.

  • Dmichael Dmichael on Nov 17, 2008

    I live in a GM town. My immediate subdivision has about 100 homes, of those 100 homes about 80 recieve bluecollar GM pensions. Each of these homes get $2800.00 per month and health care benifets that cost ($1000.00 per month in premiums)thats $304,000.00 per month or about 4 million dollars per year. They also get $600.00 every Dec. for Christmas spending money that's another $48,000.00 per month. Gm and the uaw (United auto workers) created and supports almost a half million of these retiree legacies. Hire in at 18 yrs. old and retire at 48 yrs. old. Do you want to fund this with taxpayer money? I don't.