Thursday, April 30, 2009

NYT Gets the "Auto" Bailout

It's a bailout of the unions.

The NYT headline: As Detroit Is Remade, the U.A.W. Stands to Gain

The story:

In the devastating slump that has forced two of Detroit’s automakers to the brink of bankruptcy, the United Automobile Workers union stands to become one of the industry’s few winners.

According to restructuring plans proposed this week, the union will have more than half the stock in Chrysler and a third of General Motors, meaning it will have tremendous influence, with the government, in determining the future of the companies.

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