Tuesday, December 16, 2008

My US Auto bailout plan

Let's take the number $34bn

Firstly Chapter 11 for GM & Chrysler LLC. States, Feds to jointly work together to decide how the end of these firms will take place.

Secondly Every dollar of this program has to be accountable to a special office of the GAO as part of the deal.

3. Take 10bn and pay the 70% of salaries, 80% of medical expenses for two years;

4. Take 5bn to continue retirement benefits of workers already retired;

5. Take 3bn to retrain the workforce for new manufacturing economy, new careers, re-education for two years of displaced auto workers;

6. Take 5bn to actively develop manufacturing of alternative energy vehicles, mass transit & engine conversion research for existing auto industry inventories;

7. Take the 11bn left over and put it in trust for expansion of this program for successful, viable ventures developed.

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