[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

[jeffburch]

I would like to see a tariff similar to what was on big (701cc up) motorcycles in 1984 on imports (crap).
Look at Harley Davidson now.

Put Americans to work building American products.

God Bless our Unions

jb
IBEW 69

[mitchntx]

I would like to see a tariff similar to what was on big (701cc up) motorcycles in 1984 on imports (crap).
Look at Harley Davidson now.

Put Americans to work building American products.

God Bless our Unions

jb
IBEW 69

JB ... I honestly don't think any increase in taxation is the way out. Taxing a company's products just means that over head cost is passed along to the consumer. Taxing big business in effect, really doesn't affect big business.

JMHO ...

The tariff on bikes in the 80s was a little different than now. There were no foreign bike assembly plants. The vast majority of cars sold in the US are actually assembled here by US workers. And if discussing profits, publicly traded companies means that everyone, US citizen or not, can get a piece of that pie. But, bottom line, if Toyota wants to continue to employe 50,000 US citizens at it's San Antonio assembly plant, then that is 50,000 people bringing home a pay check.

I respect your opinion and the others in this group about unions. Unions have brought about great change in the way we work. However, the potential for abuse is quite extraordinary. So, my opinion on unionized labor is mixed ... in theory, I think it's a great thing ... in application, it sometimes gets too political and out of control.