"Chom Noamsky" wrote in message
news:AJDUk.1538$o15.781@edtnps83...
"Canuck57" wrote in message
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On Mon, 17 Nov 2008 18:28:18 -0700, Canuck57 wrote:

Here is a solution for GM that will work.

Each and every employee of GM is to buy stock in the company. Proceeds
will be used to fund GM financial needs.

Workers owning the company? Isn't that communism?

Nope. Not at all. Some very successful companies have many employees
financially involved it its well being. Which is precisely GMs problem,
making them shareholders diffuses 30 years of union rant.

That's fine if the financial involvement is voluntary. Mandatory
investment by workers is essentially socializing ownership - the same
principles as Marxism.

100% employee-owned businesses generally do well. That is because as
owners, if they want to exploit and mismanage the company, they are only
exploiting and mismanaging themselves. There is a direct realtionship for
financial reward, such as performing well, rather than getting rewarded
whether the company is failing or succeeding (the norm for today's
executives).

However, even if employees flocked together to buy some of GM, as a class
they would still be in a minority position. Why would anyone allow a
minority shareholder to call the shots? It just doesn't work that way.

Limp excuses. I guess then CAW doesn't want the jobs.

The government is just starting to realize how many people are being laid
off from other than CAW (Canadian Auto ******) as they get this from EI
registration. They have the civil service white as a sheet. I even know of
a company you least expect preparing year end severances for thousands. We
actually might clock the year out at better than 10% unemployed if GM keeps
working! Even government revenue is plummeting. Yes, the government is
worried for their own CUPE asses!!

Now the amount of money to bail out a GM employee is really about $2 million
dollars each with wages, debt, liabilities and pensions etc. EI is maybe
$15k, you do the math. GM is really to a point where they have to go down.
Even the US government where a trillion is trivial is touching this turkey.

Who do you think is going to win, CUPE or CAW??

LOL. Going to be fun to watch. Investors will not be paying taxes this
year. Most companies will not. With spending halted (GST/excise) and
gasoline down, unemployment skyrocking with income taxes collected
plummeting....

Bet the government is in about a 30 billion a year shortfall in burn rate
right now if it was annualized. The CN Tower isn't for sale because this is
a good time to sell. And even Ottawa can't get credit. LOL.