To the Editor
It's agonizing watching General Motors struggle. It makes me think that two of the most important assets required for a solid and sustained recovery, adequate cash supply and an experienced work force, should be protected at all costs.
As a direct offset, dollar for dollar to any agreed-upon cost and benefit reductions by the unions, wouldn't it make sense for GM to offer the union workers stock in GM to stay rather than cash to go away?
Under that scenario, precious working capital would be preserved as well as the experienced work force.
Yes, the stock would be diluted, but the capital and the experience - essential ingredients for the recovery - would not be.
As GM improves - and, make no mistake, that will happen - everybody wins. One team with one goal!
In fact, would that process work for across-the-board wage and benefit reductions for all to jump-start a leaner, healthier GM?
It's just possible that the unions could be part of the solution rather than the problem.