Unions Win Again : (

Chrysler may be bankrupt, but the unions have pulled a major victory from the jaws of defeat. Instead of dealing with bankruptcy like every other party that had contracts with Chrysler, the union has already cut it's deal, and it is unusual at best.

The union liabilities (pensions, health care, high wage packages, etc.) were a prime reason for U.S. automaker troubles. Unionized factory workers make over $100,000 in this country, while our competitors pay labor rates that are less than half of that amount. But instead of using bankruptcy to allow these companies to renegotiate their union contracts, the government has already agreed to have the "New Chrysler" take on the debt.

Why is this unusual? Well, for starters, it means that the unions have been given special treatment and allowed to skip the legal process that everyone else with a claim against Chrysler will have to go through. I guess the legal process doesn't apply to unions.

Last month president Obama chastised the entities that have loaned Chrysler millions, saying that they were unwilling to cut a deal that was fair, leaving the president with no choice but to allow Chrysler to go into bankruptcy. But the truth is a much bigger story. After seeing the union get special protection at better than 60% of their contract value, those that had made loans asked why they should quickly accept 30% on their deals. The answer? Because you are not the union.

So even in bankruptcy unions get special treatment. It doesn't seem to matter that there is no legal precedent for such treatment. It doesn't seem to matter that such a deal endangers any future U.S. automakers may be trying to build. And it certainly doesn't seem to matter that taxpayer money is being used to make this whole mess work out.

Boo Unions. I hope this comes back to haunt you.