Entry for December 12, 2008
Blame where blame is due.
The Senate did not approve the Auto Bailout. Why didn't they approve the bailout? Because the UAW (United Auto Workers Union) would not renegotiate their current contract before it expires in 2011. Republicans and some Democrats in the Senate wanted them to make concessions and reduce pay as part of the bailout. The UAW refused and so the bailout did not pass.
Congratulations United Auto Workers Union, you finally seem to have driven the final nail in the coffins for GM and Chrysler. Forcing them to pay 33% more for employees compared to Honda, Toyota, and Nissan wasn't enough I guess.
I am sure the members of the UAW will like being out of jobs instead of merely making a lower amount of money.