After I wrote the post about GM, I had a thought. What if GM and Ford Motor Company* are really playing the system. Imagine this:
A big auto maker files for bankruptcy, and sheds the burdon of honoring retiree benefits for countless Americans. This would include health insurance and shift the burdon of traditional pension plans to the government.
The next step wold be to throw up manufacturing plants in Central America(Thanks CAFTA!). Lower wages, no legacy costs, sounds like a good idea if you’re a big business man. How else would you just close p shop and move to central America, and still keep your reputation intact?
* Ford announced that it will spell out a “restructuring” next year.
This article posted 12 03 05