NEW YORK — General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled automaker continues to slash costs.

GM spokesman Tony Sapienza said the buyouts will mainly target GM's 22,000 retirement-eligible hourly employees, though any union employee can take the offer.

Full Story... (http://www.comcast.net/articles/finance/20090203/General.Motors.Buyouts/)

Am I reading this right? :confused: Apparently workers for GM will be given 25k car voucher AND 20K in cash to leave? Soooo They pretty much get a FREE car? :eek:

It's a cheap buyout for the autoworkers union. Imperial tobacco gave buyouts of upwards of $100K to it's employees, of whom, most didn't even have a high school diploma and they made $42/hr working on a line doing, well, not much real work. Unions are just as bad as they can be good, and the autoworkers in general are finally starting to welcome themselves into reality. Manufacturing has blown itself way out of proportion. It was only a matter of time before you start building more cars than there are people to drive them.