These guys really need to step up, identify the problems loud and clear, go bankrupt to reorganize and get rid of the unions.
Then they need turn around their respective companies and show the American people that Capitalism is the answer to our economic woes, not the the f'n government.
Then perhaps they would show the idiots in this Country why they earn the big bucks and are worth it.
This should be a mandatory business school case study, everywhere..... you run a Fortune 50 company that is losing billions, even tens of billions of dollars.
Do you
(A) Double down and act like nothing is wrong until everything goes “poof”
(B) Whine and wail about your problems but do nothing
(c) Vigorously slash costs, re-organize, optimize product lines, labor staff/pay/benefits and production facilities for your real-life business environment..... declare bankruptcy if necessary but do everything humanly possible to get your business enterprise on a sound footing
or,
(D) Go running to the federal govt. for a “bailout” that might at best push your problems a year or two down the road.
If you answer anything but (C) you get booted out of the MBA program instantly. If you answer (C) then you must present a detailed, comprehensive plan by the end of the course, showing exactly how you propose to save the company.
The only problem is that the Unions won’t got quietly. They would rather the companies go down then give up their current wages and benefits. Were they to go bankrupt, they would threaten anyone (union member or not) who would take their jobs for lower wages. Sadly, these companies are in a helluva box.