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Article: Auto bailout.(LETTERS)(Letter to the editor)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- January 10, 2009
CopyrightCOPYRIGHT 2009 The Washington Times LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: THE WASHINGTON TIMES
The basic problem for the Big Three auto companies is to reorganize their companies and products to be competitive.
Following are suggestions for solving that problem: Management compensation should be reasonable and competitive; employee wages and fringe benefits should be reasonable and comparable to those of other autoworkers; retirement should be a 401K plan; health insurance should be 80 percent company-paid and 20 percent employee-paid and only cover major medical expenses; products should be downsized to three models; bond holders should trade for common stock at 30 percent value; government should provide a total of ...