[sgarnett]

The Senate, UAW, et al, just gave up (ie failed) on reaching a compromise a few minutes ago.

I don't know how GM will come out after bankruptcy (they just hired the bankruptcy lawyer), but the stock market futures are looking ugly tonight. It actually held up well through some dismal recent employment numbers, but I suspect tomorrow is gonna be ugly. Rebuilding my retirement is going to mean austerity and no new cars for a very long time, and I suspect that will be true for many others. That can't be good for any automaker.

I'll admit I wasn't convinced that bridge loans to March could solve the problems for GM, so I don't claim to know what the right answer was. Nevertheless, this is going to be a big kick in the teeth for the economy.

This post has been edited by sgarnett: Dec 12 2008, 04:07 AM

[ESPCamaro]

A labor union would have saved my job. I had the 3rd highest seniority (sp) and got cut to save costs.
I have family in the Teamsters union (geesh).
I understand what/why the labor unions were created.

But with sensible workers rights regulations and a decent economy, I just don't see any use for the unions. The ones that are strong are hurting the companies in which they are in place. The weak ones only take the workers money and do nothing for them.....

Part of this money should be aimed at buying out union contracts and/or eliminating them.....


I'd take a non union job at a GM plant for less than what they make and with fewer benefits. Offer me a 401k keep the pension and call me a happy M/F. And you better beleive I wouldn't be the only one........


Another thing I hate to bring up since I've been labeled racist, biggot etc (if you know me you know that is idiotic but whatever).......In industrial jobs around me there are still tons of illegal immigrants. And tons of U.S citizen workers out of a job. Time to actually do something about this problem now too.