It took weeks of negotiation but all those concessions made in their new contract by the UAW? Forget it. Not enough. GM's new Obama-approved CEO wants to - go ahead, tell me you didn't see this coming - close more plants and cut more workers and get the workers who are left to give up even more than they already have.
General Motors Corp.'s new chief executive said Tuesday that more of the automaker's plants could close and bankruptcy is "more probable" as GM works to meet new, tougher requirements for government aid. In his first news conference as CEO, Fritz Henderson said he expects the company would "need to take further measures" beyond the five plants the company said it would shutter when it submitted a restructuring plan to the government last month.
He is doing this because Obama told him to.
President Barack Obama said Monday that GM's initial plans to become viable didn't go far enough. He gave the company 60 days to make more cuts and get more concessions from bondholders and unions or it won't get any more government help.
So all those auto workers made all those concessions to save their jobs for...two months. No contract is sacred when it's made with employees. Only executive contracts are sacred. Union contracts are confetti.
Between AIG and the auto makers, tax-pressed local govts have got the message: all those contracts we got with all those govt workers? Slice em and dice em, baby.