At least GM had to face the market place. Civil servants in California are paid above market rates for their talent, face no lay-offs, and have a pension plan that would make Elvis raise from the dead for the generosity they bestow on the so called working stiffs. Alice in Wonder Land.
Yeah...well the managers of the California pension plan and the suck-up political appointees overseeing the plan need to do some major explaining for the piss-poor performance and aggressive risk exposure by CalPERS and similar state-run plans. Just my opinion, as a tax payer.