Quote:
Originally Posted by BigAls87Z28
To Steve's comment about writing down 13 billion dollars, that was part of the VEBA contract. GM and the UAW was praised and still should deserve praise for what they did with reducing massive amounts of money pouring into benifits. Our current state government could learn something from it. You think the teachers union in a little state like NJ is bad? They got the UAW to budge on a LOT of stuff.
The UAW and GM employees have a very nice benifits package
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It's not the details of the deal I was referring to, it's that GM keeps reporting debt write offs as profit when in reality sales are not generating these profits. The point is that eventually you run out of debt write offs and bank loans and the record losses will once again return.