Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

Corporate gatekeepers and big tech monopolists are making it more difficult than ever for independent media to survive. Please chip in today.

For Immediate Release

Press Release

GM's Bankruptcy

Out of the ashes of GM, Frank Hammer suggests a vision for green transportation
WASHINGTON -

As General Motors declares bankruptcy today, Frank Hammer, a
retired General Motors employee and former President and Chairman of
Local 909 in Warren, MIchigan, talks to TRNN about how a green
transportation system would resuscitate the automobile industry with
jobs while addressing the problem of climate change.

In the recent days, the Obama administration has intervened in the
pre-bankruptcy arrangements between GM and its two largest creditors,
its bondholders, and the United Auto Workers union (UAW).

As the
US government becomes a majority shareholder, they will appoint five US
government membes onto GM's board along with one Canadian member for
Canada's $10 billion contribution to the company.

Hammer says that the US government should not focus on saving a car
company anymore but one that focuses on green transportation. "The
American market, first of all, is going to take years to recover to the
levels where we were, which was 16 or 17 million car sales per year. I
believe that's gone," Hammer says. He also says because of the massive
job layoffs, there will be less Americans in the future who can afford
to buy new cars.

Only 40,000 workers will remain with GM - a 91% reduction in the
company's workforce in comparison to 1970s numbers when GM employed
450,000 UAW members.

Hammer believes that auto workers will be key to structuring GM to become a "green company, a holistic company.”

“It’s going to take the political will to make that happen,” Hammer
says of the new vision of GM. “And that will, in part, is going to have
to come from the workers who are going to have to demand this.”

To view the complete video, please click the link below:
https://therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=3781&updaterx=2009-05-31+04%3A54%3A11

###

The Real News Network is a television news and documentary network focused on providing independent and uncompromising journalism. Our staff, in collaboration with courageous journalists around the globe, will investigate, report and debate stories on the critical issues of our times. We are viewer supported and do not accept advertising, government or corporate funding.

Nearly 90,000 Small Businesses in US Expected to Close After Senate GOP Kills Main Street Relief Bill

"The fate of these small businesses," said one advocacy group, "will be tied to those senators who voted down this lifeline today."

Julia Conley ·


Documents Show Baby Formula Maker Enriched Shareholders Amid Deadly Bacteria Outbreak

"Abbott chose to prioritize shareholders by issuing billions of dollars in stock buybacks instead of making productive investments," said one economist.

Jake Johnson ·


'She Can Win If We Stand With Her': Sanders to Rally for Cisneros in Texas

"Her opponent, one of the very few anti-choice Democrats in Congress, is funded by over a million dollars in corporate contributions from Big Oil companies," said Sen. Bernie Sanders.

Jake Johnson ·


Peace Advocates Sound Warnings as Progressive Lawmakers Go All-In for $40 Billion Ukraine War Package

"Russia's invasion of Ukraine must be condemned," says one activist. "But the administration has been telegraphing for weeks that its war aims now go well beyond defending Ukraine."

Brett Wilkins ·


Oklahoma Lawmakers Pass Strictest US Abortion Ban While Roe Still Stands

Reproductive rights supporters vowed to fight against the ban that begins at fertilization and, like legislation in Texas, "creates a bounty-hunting scheme" for enforcement.

Jessica Corbett ·

Common Dreams Logo