Deep thought

The UAW should buy GM and turn it into a worker-owned cooperative.

Comments

  1. #1 Comrade PhysioProf
    December 24, 2008

    With money loaned to UAW by the Federal Reserve?

  2. #2 Josh Rosenau
    December 25, 2008

    Sure! And they’re getting a hand from GM itself. As part of the last contract, the UAW is taking over GM’s health insurance fund, with GM paying its share with GM stock. So the UAW is already taking a big share of GM. And if GM did have to declare bankruptcy, I imagine the UAW, its members, and the combined power of the AFL-CIO could take a controlling stake in the company.

    This eliminates the problem of excessive management salaries, and creates a powerful disincentive for outsourcing.

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