merger uaw and gm ?????

 nationalize gm ???



nah...lets unionize it

not the jobs stupid 
we got them already

lets unionize the  stock 


what you think  brothers and sisters ????


 haav we got
  the makings
 of  some serious class harmonics ????

 or another fuckle buck
   three card montee 
prolly cooked up by management
to fruit punch 
    the  kirkorian faction 


================================


===============================

"idea from Rob Lache

auto-industry analyst :

 Transform GM's workers and retirees 
into
owners in exchange for benefit givebacks"



 drawing up the two sides of the deal



GM  pension liability  $90 billion 

 estimate GM  health-care
liabilities at $65 billion.

 $155 billion
in total employee liabilities

 assets ? 
GM pension plan   $95 billion
value of  The health-care plan's assets 
                         $15 billion

total $110 billion 

  okay first 

"... give the  reserves  for
pensions and health care 
right to the auto workers "

still short $45 billion 

 so 

 "GM transfers GMAC
 the GM financing unit
to the workers too "

 value of GMAC :
     $20 billion at book 

  still off by 25 billion 

  so 
give the workers 
 GM's 
equity  

problem 

 General Motors stock 
has a market value of 
                  $10 billion  


but 

the new  stripped down gm 

wmight  generate  $10  billion plus 
per year 
  in
   net cash flow 
(before interest, taxes,
 depreciation and
amortization)

that might  market out
   above ... $60 Billion 

hmmmmm

er now ah go over that again ....

my favorite line 

 
" shareholders
interests are strongly served 
by 'giving' the workers
the $20 billion difference between
 current and expected
restructuring value -- "

 really ?????


one question

whats in this for the present stockholders
  how does the market's 11 billion valuation 
  reflect 
the zero present value
this plan puts 
on  the company stock 

i'm missin something here

better call the lady eve 

then again 
my guess this idea/figment
has a simpler explanation:

 as  a very  bright and shiny 
 chest full of objects 
($250,000 on average,
 FOR THE 600,000 active workers
 retirees and
spouses covered under the pension
 and  health care plan) 
floating over the assembled stiffs heads 
cause it serves very nicely  
to distract
     and de motivate em ....

my take good deal raw deal...

either way 

sieze the plants  first kids

then start the bargaining process 

while you're ...in possesion 

get me ???


------------


ps 
another great line :

"The UAW would have to substantially 
reinvent itself to
undertake this challenge"