GM's union raked in the dough from the GM stock sale doing far better than investors and taxpayers.
The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws.
"Priority one was serving the interests of the UAW" when the White House's auto task force engineered the bankruptcy, said Glenn Reynolds, an analyst at CreditSights. The stock offering served to show once again how the White House has handsomely rewarded its political allies, he said.
Answer by yourspecialkid at 4:50 PM on Nov. 26, 2010
Answer by kerp1960 at 7:53 PM on Nov. 26, 2010
NO doubt, THIS>>>YSK...What gets me is that people actually bought the new stock! What a rip off! It's all good though because the unions are getting paid for stealing..ummmm I mean buying an election.
Answer by agentwanda at 9:53 PM on Nov. 26, 2010
Answer by kerp1960 at 10:06 PM on Nov. 26, 2010
Answer by yourspecialkid at 10:14 PM on Nov. 26, 2010
Answer by kerp1960 at 10:54 PM on Nov. 26, 2010
Answer by tabekat at 10:47 AM on Nov. 27, 2010