[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]

Bring a little levity to the situation:


(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree1.jpg)

(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree2.jpg)

(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree3.jpg)

THE RIGHT WAY
(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree4.jpg)

THE WRONG WAY
(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree5.jpg)

[T.O.Dillinder]

Bring a little levity to the situation:


(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree1.jpg)

(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree2.jpg)

(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree3.jpg)

THE RIGHT WAY
(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree4.jpg)

THE WRONG WAY
(IMG:http://i119.photobucket.com/albums/o145/mpatterson1410/Bigthree5.jpg)

Did you know that when GM had the last round of plant closings, if the TOP THREE EXECS would donate their salary for one year, they could have kept all those plants going for another three.
Quit bashing Union Labor with Full Assembly line Pay at $ 30.00 ($ 62,000 per year salary) Per hour, and target the real Greed Problem. The Presidents and CEO's of Large Corporations, Banks, and even the National Executive Committee of the UAW.
Who the Hell needs a 8 to 10 figure salary a year with such an outragous "Golden Parachute"?
It seems some of you may have never worked at the ground level before.
Try it sometime and see if you can raise a family of five on $ 11.50 an hour.
Even my late cousin Gerald Knight (Fuel System Engineer for Cadillac that retired in the 80's) said that the "Newbs" probably never changed a spark plug in their life the way they were designing the vehicles.

[marka]

Howdy,

Did you know that when GM had the last round of plant closings, if the TOP THREE EXECS would donate their salary for one year, they could have kept all those plants going for another three.
Quit bashing Union Labor with Full Assembly line Pay at $ 30.00 ($ 62,000 per year salary) Per hour, and target the real Greed Problem. The Presidents and CEO's of Large Corporations, Banks, and even the National Executive Committee of the UAW.
Who the Hell needs a 8 to 10 figure salary a year with such an outragous "Golden Parachute"?
It seems some of you may have never worked at the ground level before.
Try it sometime and see if you can raise a family of five on $ 11.50 an hour.
Even my late cousin Gerald Knight (Fuel System Engineer for Cadillac that retired in the 80's) said that the "Newbs" probably never changed a spark plug in their life the way they were designing the vehicles.

Did you ever hear the saying "Two wrongs, don't make a right"?

This is a great example of that, except that there's a lot more than "two" wrongs.

To me, as an outsider, it seems that everyone in the mess that is GM is currently engaged in pointing a finger at the other parts of the mess.

To me, as an outsider, GM shouldn't have the UAW involved at all since its nothing but overhead, and executive compensation shouldn't be at the stupid level.

Mark