Peachie,

GM stock closed today at $3.09 per share. Based on the number of shares outstanding and the number of employees, the active employees could buy the entire company for only about $6,000 each. That's less than 10% of the average annual wages for GM's hourly workers. If you made the deal avaialble to the retirees as well, the whole lot of them could probably buy the company for only $3,000-4,000 each. That's less than the cost of a well-used car. Heck, with sales of $200 billion, all it would take is a profit margin of 1/2% and they all could be paid back within one year.

Why do you think none of them has figured this out? Or why hasn't any other company or private equity firm figured out that they could buy one of the U.S. top ten biggest companies for an absolute song?

Because GM as it's currently structured, and with the pay and benefits they pay their workers is a bow-wow! It's an accident thats getting ready to happen in only a few weeks.

For GM to come to the government and ask for a "bridge loan" so that the hourly employees can continue to make an average of $82 per hour (hourly wages plus benefits) is as ridiculaous a proposal as I've ever heard. Think about it. Forty million people who don't have any healthcare insurance at all would collectively borrow billions of dollars so the GM workers can keep making $82 an hour and have gold-plated, no cost health insurance?

Like I said...RIDICULOUS!

I'd say that GM can either borrow the money with some very stiff conditions that impact on the hourly workers and the mamagment, or take a pass on our loan and go belly up. Then let's see how many of the 2-3 million people who are put out of work feel about maybe having given up on some of their pay and health insurance. When that happens, I think they'll be saying, "Geez, less pay and less insurance would have been a lot better than nothing.