Anybody else sick of reading between the lines to get the real story?
President Barack Obama's auto industry task force was expected to offer additional aid to General Motors Corp. and Chrysler LLC while setting firm deadlines for the companies to get concessions from their stakeholders.
Buried deep in the article detail paragraphs is this:
Both companies are trying to reduce their debt by two-thirds and convince the United Auto Workers union to accept shares of stock in exchange for half of the payments into a union-run trust fund for retiree health care costs. The loan agreement also called for executive pay cuts and labor costs that are competitive with Japanese automakers with U.S. operations.
In other words, going to almost Walmart wages for advanced manufacturing jobs.
Note, they refuse to even mention how GM has invested billions in offshore outsourcing jobs, selling cars in China for $1200 dollars or the reports on how previous bail out money went to their Brazil operations.