They are not going to get the money. Bankruptcy protection is the best option for resturcturing...

[MazeRat7]

Bottom line, I don't believe they (the big 3) are going the get any money. To date the best any one of them has come to the table with is a reduction in OPEX (operational expenses). None have shown any desire or insight as to how they would change their fundamentally flawed business model which has precipitated their current financial crisis. No its not the workers/unions that are at fault, its the companies underlying business model.

So no, they don't deserve any money because they don't understand that their model is broken. I think this is the major point of resistance on the hill toward granting them the bridge loan(s) they are seeking.

I think one or more of them need to seriously entertain filing for bankruptcy. Entering into bankruptcy protection will allow the company and the workers to continue producing product under direct supervision of their creditors and the courts. This worked well for United Airlines (UAL) who spent more time under bankruptcy protection than any US company to date. When they were finally allowed to emerge, many years later, they had devised a solid business model that all eyes agreed would allow them to be a viable business.

We can argure all day about what workers cost, how much a CEO is being paid, etc..etc. But at the end of the day, what they are doing is not working. Giving them more money now, without a plan that clearly defines a shift in their business model, will result in them pissing away that money and being back in DC with their hand out before we see 2010.

Bankruptcy is the best option. It keeps workers working (for a while at least) and forces the business to re-think how they do business if they want to stay in business. If they can not or will not do that, then they need to fold.

just my $.02
Peace,
MZr7