[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

[00 Trans Ram]

94bird - You're right, it sounds like I was saying that. Not what I meant, though. I meant that it's getting tougher to distinguish. But, you're right in that a Japanese car still has most of its profits going overseas.Also, I think you are SPOT ON with talking about the Big 3 not doing enough PR. I have a responsibility to learn if I want to express an opinion. But, if they want me to agree with them, then they should make that info easy to find. Otherwise, I'm likely to find info that runs counter to their position and base my position on that.That said, if anyone knows of a way to save the companies, lessen union power, but preserve what workers now have, then I'm all for it! Perhaps say that current workers keep what they have been promised, but all new employees will have whatever it takes to make this work (lower wages, no pension, etc.)???