Word: unionizing
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...problem. The incoming Obama Administration is expecting such talks to fall to it, but the automakers, especially GM, have warned they cannot wait. "I believe that we could lose General Motors by the end of this month," said Ron Gettelfinger, head of the United Auto Workers (UAW) union, which announced Wednesday that it would be willing to sacrifice job-security provisions and financing for retiree health care to save the companies - major concessions reflecting the seriousness of the situation...
...costs of the alternative: the entire (or even just part of) the auto industry going under. Some Republicans like Corker argue that a bankruptcy reorganization - potentially aided by temporary government financing - is the only way for the automakers to make the serious reforms (closing factories and dealerships and cutting union wages and benefits) necessary to make them truly competitive with foreign competition. But Zandi stated what many experts believe, that bankruptcy for the already ailing automakers would mean only one thing: total liquidation and a potential loss of hundreds of thousands, or even millions, of jobs. "Bankruptcy at this point...
...billion bank-bailout funds allocated in September to help the automakers, a move opposed by many Republicans critical of an industry that has long resisted tighter fuel-efficiency standards, continued to invest in gas-guzzling trucks and SUVs even as oil prices soared and given its union unsustainably generous deals on salary and benefits. "I don't believe this is a good idea, to take $25 billion and give it to the three major car companies, which I think have a business plan that's doomed to fail," Senator Lindsey Graham, a South Carolina Republican, told Fox News Sunday, adding...
...Vatican will oppose a proposed U.N. declaration calling for an end to discrimination against homosexuals. At first blush, no one should be surprised to find the Catholic Church hierarchy butting heads with gay rights activists. But this particular French-sponsored proposal, which has the backing of all 27 European Union countries, calls for an end to the practice of criminalizing and punishing people for their sexual orientation. Most dramatically, in some countries, including Iran and Saudi Arabia, homosexuality can be punished by death...
...condemn the use of the death penalty for any crime, including those associated with homosexuality. Instead, Migliore said the Vatican's opposition to the U.N. proposal was driven by concern that countries that prohibit gay marriage would somehow be targeted. Said Migliore: "Countries that don't recognize the union between people of the same sex as marriage will be punished and pressured...