tag:blogger.com,1999:blog-19614248.post1913894474937508853..comments2023-05-30T05:16:03.894-04:00Comments on The Barbershop: Dennis Byrne, proprietor: Government, organized labor to run the Auto IndustryDennis Byrne...http://www.blogger.com/profile/12684119518936854024noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-19614248.post-83744517189965322212009-05-01T18:21:00.000-04:002009-05-01T18:21:00.000-04:00Remember, here, that the government is a very mino...Remember, here, that the government is a very minority partner in the proposed restructured company. The real partners running the company will be the UAW pension fund and Fiat. The UAW is getting its share because Chrysler owes it a ton of cash, some $10 billion plus.<br /><br />The same people who are complaining about this are also complaining that we wasted our taxpayer money on Chrysler. Regardless of what you think of the bailout of Chrysler, or maybe because of your opposition to it, this should be a good thing in your mind. It is clear that the only way we're getting any of it back is to take an investment in the company.<br /><br />As for the UAW owning the majority of the company, what better way to make them accountable for what they bargain for. It's mostly coming out of their own pockets. It's brilliant!<br /><br />I don't know what the bankruptcy judge will make of this. Maybe it won't be approved, but that's what the court is for. Should we have let Chrysler fail months ago and reaped the economic effects of that? I don't know that either, but I'm confident that smarter people than I have thought that through and made an educated decision that in the end, the economy will be better off. However, I do know that people smarter than Dennis Byrne have thought it through.Anonymousnoreply@blogger.com