Trillions To The Corporations, Zero For Workers
Obama offers nothing to states, cities devastated by GM plant closures
"Plant closings resulting from Monday’s forced bankruptcy of General Motors will cause spiraling unemployment and deep cuts in social services in many cities and states across the country. The Obama administration, whose Auto Task Force dictated the terms of the bankruptcy, has offered no serious aid to the affected workers and their communities.
GM is carrying out at least 21,000 job cuts and the closure of 14 plants and warehouses in eight states. In addition, the company has announced its intention to dump franchise agreements with 2,300 dealerships by the end of next year. Many of these will be forced to close, eliminating as many as 100,000 jobs in all 50 states.
The gutting of GM, once the most powerful corporation in the world and a symbol of US industrial might, will send shock waves through the economy, cascading into more layoffs at parts suppliers and financial ruin for thousands of small businesses.
The bankruptcy will immediately result in state and local cuts in social services, health care and education, with city and state workers targeted for layoffs, wages cuts and other concessions. It will accelerate the foreclosure crisis and further drive down home prices, as tens of thousands of workers are no longer able to meet their mortgage payments.
The Obama administration is using the concessions and layoffs, agreed to by the United Auto Workers, to attack the wages and benefits of the entire working class. Corporations will take the concessions imposed on auto workers as a signal for similar measures against their own workers."
"Plant closings resulting from Monday’s forced bankruptcy of General Motors will cause spiraling unemployment and deep cuts in social services in many cities and states across the country. The Obama administration, whose Auto Task Force dictated the terms of the bankruptcy, has offered no serious aid to the affected workers and their communities.
GM is carrying out at least 21,000 job cuts and the closure of 14 plants and warehouses in eight states. In addition, the company has announced its intention to dump franchise agreements with 2,300 dealerships by the end of next year. Many of these will be forced to close, eliminating as many as 100,000 jobs in all 50 states.
The gutting of GM, once the most powerful corporation in the world and a symbol of US industrial might, will send shock waves through the economy, cascading into more layoffs at parts suppliers and financial ruin for thousands of small businesses.
The bankruptcy will immediately result in state and local cuts in social services, health care and education, with city and state workers targeted for layoffs, wages cuts and other concessions. It will accelerate the foreclosure crisis and further drive down home prices, as tens of thousands of workers are no longer able to meet their mortgage payments.
The Obama administration is using the concessions and layoffs, agreed to by the United Auto Workers, to attack the wages and benefits of the entire working class. Corporations will take the concessions imposed on auto workers as a signal for similar measures against their own workers."
posted by nolocontendere at 8:36 PM
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