Should the government instead aid UAW in buying out Ford and GM instead of loaning money to Ford/GM?

[Selatius]

This question was first posed in another thread, but I believe it deserves a poll.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4287246&mesg_id=4287246

At stake here is an American name-brand and the jobs of tens of thousands of employees. I am no fan of seeing golden parachutes for CEOs who drive companies into the ground and then retire filthy rich leaving honest-to-god employees to suffer for their stupidity, and when the question was posed, it struck something with me.

Instead of enabling further corporate malfeasance and CEO irresponsibility, why not let these companies be bought by the employees themselves. Why not let them decide where the company should head? It is their labor. It is their lives. They would automatically be motivated to creativity and innovation simply because it would be their jobs on the line.

It would have to be some sort of money-for-shares deal. The UAW would get money, and the money would be used to buy out the shares of the company.

So the question is should the federal government offer a low-interest loan to the UAW to buy out Ford and GM instead of simply handing the money to Ford and GM directly and hope the CEOs and senior executives there change their behavior? What say you?

[DainBramaged]

1. You must know how I would vote.

[Kalyke]

2. You do realize the loans are for retooling plants to make fuel-efficient cars, right?

It's not really to bail them out like the banks.

[Selatius]

5. Why not stipulate that the loan the UAW gets must also go towards factory retooling? nt

[Greyhound]

9. Would you not agree that that should have been done while they were

making record profits and treating themselves to an orgy of consumption and obscene bonuses? It's not like this is a big surprise that no one knew was coming.

No, fuck them, let 'em cry. Turn over the assets to the people that actually know how to work, in 10 years we'll all be driving fast, efficient, nearly maintenance free, electric or similar alternatively powered vehicles.

Of course, my little red baby will be an anachronistic museum piece, but it would be worth it.

[ogneopasno]

3. When I worked for a Knight Ridder paper a couple years ago,

a plan similar to this one, financed by Ron Buerkle, was floated wherein the Newspaper Guild would own the papers. I think it's an excellent idea.

[Donnachaidh]

4. As long as the UAW commits to bringing jobs BACK to the country

I'd get behind using taxes to help them purchase the company. They'd have to close the plants outside of the country, though.

[Jackpine Radical]

6. I missed the other thread, but that is an absolutely wonderful idea.

[99th_Monkey]

7. As I've said elsewhere: worker buy-outs rock!!

http://dwardmac.pitzer.edu/dward/classes/powpart/benellomondragon.html

BTW -before the turn from 19th to 20th century, worker ownership was what unions were all about.
Time to reclaim some of that history IMHO.

If Mondragon can do it, why not us?
http://dwardmac.pitzer.edu/dward/classes/powpart/benellomondragon.html

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4287246&mesg_id=4287349

[yodoobo]

8. Would certainly make UAW contract negotiations easier.

[Greyhound]

10. kickypoo. n/t

[Selatius]

11. Kick for UAW. nt