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What about the unions no good on those huge health and pension benefits that GM has to -- Can GM have a -- if those costs on not cops.
That's -- full integration was -- forcefully about Detroit's ongoing crisis -- welcome to the program.
-- Stewart how are you Walpole I've not heard anything about these so called legacy costs have they been negotiated down on oral way but I'm not aware off.
No you're what you're what you're aware of is correct they have not been negotiated down or away I mean to an extent they've been negotiated.
Lower you know what what they might have been but the truth is there's still -- -- us.
And -- car companies need the union.
To take some stock in the company in General Motors needs a union to take some stock in the company and -- some of these debt obligation.
And they haven't done that yes okay.
What would you agree that the government is now -- I'm gonna say taken control of General Motors and taking control of Christ but to some degree.
You -- would you agree without a win now going to be dictating.
What kind of caused General Motors makes in the future.
No I don't think so first of all I would say that you know your question probably would better -- three months ago Stewart -- -- when the government gave them.
What what what was that first -- seventeen million dollars that's when you know in the government's money comes -- that's when we quote control's efforts.
But you know I don't think -- I think President Obama made it clear that they don't want to tell Detroit what kind of cars to make.
But but I do think that but what happened today is the government finally stepped up and did what GM's board of directors.
A couple two or three years ago and and by the way I think it's as important that they are replacing the GM board most of the board.
As well replacing mr.
Wagner just needed to be done -- new ideas.
Said -- I got to tell you that ABC news is reporting that Rick Wagoner will walk with a twenty million dollar retirement package that's a report from ABC news I'm just -- it to you now.
Any reaction to that.
Well I mean that's.
Probably something you have negotiating a long time ago and you know we're in the same territory that we were with AIG bonuses.
Yeah I don't begrudge Rick -- that he -- that company in good faith for a long time.
You know I know these are getting very controversial with the public but let's just let this thing go.
And get on with the future with task of fixing this company that's my fault of my feeling.
A wanna move down the food showing a little bit we've dealt with the Chrysler and General -- what about -- -- -- -- supplies Albany next in line for more billions of bailout all or some kind of firing of the chiefs or you know a drag drastic slim down.
Well you know there's some of those -- what's gonna happen here is this going to be a shake out of the automotive suppliers they can't all survive.
You know I had an executive tell me last week there's too bad outcomes for the you know suppliers won't -- We all collapse that wants the other -- is that none of those collapses and we also to continue limping along like zombies.
So there's got to be some rationalization there are some companies are really going to go out of business some -- -- -- -- -- us or they'll be downsized its sad.
But you know this is that this is how the system has to work -- Poll immigration great ride out on this very subject Paul many thanks for joining us we really do appreciated -- thank you for.
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