About 30 years ago, Chrysler was on the ropes. Then CEO, Lee Iacocca, agreed to work for $1 a year plus stock options. After receiving federal loan guarantees, Chrysler pretty much invented the minivan, the market for them took off, and they managed to pay off their loans early.
My suggestion is, if the Big Three do manage to get any kind of assistance, to put both the execs and the UAW members in the position Iacocca was in: make them take part of their compensation in company stock, so that they have more than a casual interest in the company's outcome. Make ESOP part of the compensation package, not just an investment option. If you have an ownership stake in the company, you're going to be less inclined to run it into the ground. When both labor and management are in that position, it's easier for them to come together and find solutions to problems between the two sides.
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Today's Featured Article - George's Fordson Major - by Anthony West (UK). This is a bit of a technical info to add on to the article about George's Major in the "A Towny Goes Plowing" article. George bought his Major from a an implement sale about 18 years ago for £200.00. There is no known history regarding its origins or what service it had done, but the following work was undertaken by Harold alone to bring it up to show standard. From the engine number, it was found that the major was produced late 19
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