The auto bailout

There could well be something wrong with this math, but here is what it looks like at BestView. GM has a market cap of $2.4 billion. That means you can buy all the shares in the company at the present stock price for this amount. The company has 96,000 employees. If we gave each employee a tax free $1,000,000 this would cost the government $9.6 billion. So, the total cost would be $12 billion and this is close to what Bush gave as a down payment to tide them over until Obama can come in and really bail the union out.
Once this is done, the government could sell the assets of the company and give the procedes to the existing retirees at GM. I suspect he UAW would take the deal if all the workers at other plants didn't kill the deal because they weren't included.