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Re: Should the government bail-out include domestic automakers?
It is my understanding that GM's huge financial burden (its "legacy" obligations) based upon retiree payments, including health insurance, will be turned over to the union in 2010. Removing that horse collar from the company should be enough alone to make it profitable again.
The problem is, GM didn't borrow its credit line when credit was freely available, like Ford did. GM's problem is a lack of cash to make it to 2010, now that the credit lines are no longer available.
Mike
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