Open Thread

For general discussion and debate. Possible talking point: GM wants more!

General Motors Corp. is pushing for union and creditor concessions as it races to complete a report that asks the U.S. to increase a $13.4 billion emergency aid package, people familiar with the plan said. Plunging U.S. auto sales, which fell to the fewest in 27 years in January, have increased cash consumption by the Detroit automaker, and GM will need additional U.S. aid to survive, said the people, who asked not to be named because the plan isn’t final. The total request in the Feb. 17 report to Treasury Secretary Tim Geithner may exceed the $18 billion GM sought in a Dec. 2 government appeal, they said.

Wow! What a shock! Here's the money question: as Democrats demand financial service companies receiving government funds limit executive pay, will they require union workers reduce their hourly rates if the companies they work for are bailed out?

NB Staff
NB Staff