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From USA Today:
When General Motors and Chrysler emerged from bankruptcy reorganization this year, they had new owners. The governments of the United States and Canada took majority control of GM, with a retirement fund and former creditors holding shares as well. Italian automaker Fiat and a union-affiliated retiree fund became the main owners of Chrysler.
These new owners — particularly taxpayers — are not in it for charity. They should expect a return on their investment.
But don't tell that to Congress. A bipartisan caucus of lawmakers has decided instead to reward an influential constituency: car dealers. A provision in a pork-laden spending bill headed for President Obama's desk would give dealers eliminated in Chapter 11 a chance to reopen their cases through binding arbitration. More here. |