Article by hi joiney
Notorious and interminable U.S. bankruptcy proceedings, may not only delay the exhaustion will all aspects, but also completely ruined the U.S. auto industry. Moreover, the car giant’s bankruptcy, the U.S. economy will probably be fatal. HC plastic mesh U.S. Eastern Time Sunday evening (Beijing time on the 27th morning) came news of three Car One of Chrysler Corporation (Chrysler) and the United Auto Union UAW (UnitedAutomotiveWorker) reached an abatement worker welfare and health insurance agreement. Chrysler’s potential buyers are also involved in the Italian car company Fiat negotiated the agreement. This news is like a ray of sunlight pierced the car enveloped in this cloud of bankruptcy manufacturer overhead, to the debt-ridden, a precarious three Detroit car companies have brought new hope and freedom from death sentence in breathing space. More important, the agreement was a death sentence for the same period, General Motors, and Ford Motor Company provided the precarious negotiations template. The two companies are faced with negotiating with the UAW workers, welfare reduction, debt write off half of the health insurance fund problems. In particular, has already received 15.4 billion U.S. dollars Obama funded General Motors, if not before 1 June and the Auto Workers reached a similar agreement above, its largest creditor so far?? The federal government will immediately terminate the loan assistance, direct request The process of bankruptcy. General Motors Corporation in the United States also announced the 27 local time revised restructuring plan, including the “Debt” means replacement of outstanding bonds 27 billion U.S. dollars, end of next year to cut 21,000 U.S. workers and gradually give up the Pontiac and other car brands. Massive restructuring plan under this, the U.S. government may become the largest shareholder of General Motors. The GM will receive one additional 11,600,000,000 U.S. dollars in relief funds. The federal government said in a statement on the 27th, the “Debt” is a common realization of restructuring the program “important step”, but the Government has not yet made recommendations on the program or in the future to continue to provide assistance loans to GM to make “final decision. But even so, General Motors will in any case can not escape the fate of its bankruptcy reorganization. Multi-disclosed information that the Obama government hopes to enter a fast GM bankruptcy proceedings, and quickly re-emergence as a healthy car giant. This is certainly a wonderful hope. Obama fired the car working group in charge 8-year-old General Richard? Wagner (RichardWagoner), opening a new president like Obama?? Fritz? Henderson (FritzHenderson), because from this. Said Wagoner does not want GM bankruptcy, negotiations with unions and creditors also progress is made. Obama supports the union, after all, last year’s general election contributions and votes on trade unions has achieved a lot for him. However, Obama wants to various interest groups have made enormous sacrifices and concessions to preserve the Detroit auto industry. However, the general management, auto union leaders and the general creditors of each other compromise, negotiations for a long time without any progress. Therefore, Obama took Wagner warning to others, to force the powerful trade union convergence of their interests on the auto industry for decades of repression.
