Oops - Hourly's Need To Go Too!

Two days after announcing salaried cuts, GM is now offering buyouts to all of its hourly employee's. So now, if they retire, GM can continue paying them their pension, and get nothing from them. That is certainly better than filing Chapter 11 and reorganizing out of the crazy contracts that got you there in the first place, isn't it?

The truth is, it is too late to save the auto industry in America as we know it now. There needs to be massive restructuring. More than likely, at least one, maybe two of the current auto manufacturers based in Detroit will not survive. Perhaps it would be best to let it happen and let the chips fall where they may. The current plan will only delay the ineveitable, GM is going to fail.