Just wondering…
Auto Unions get the memo
United Auto Workers got the memo. Better do something.
I wonder what the concessions will be. CNN Money says the CEOs go to DC today and UAW is getting together tomorrow.
Why would the auto CEOs go to DC with new business plans but without knowing what the Unions might do? Is Congress going to be a labor mediator?
Oh, the deals that will be done.
Managed Bankruptcy: Better than a bailout?
Loan or not, the long term issues must be confronted. Romney’s ideas seem reasonable.
Auto makers bailout – Open Forum
Apparently, no one likes my suggestion to sell Obama gear to bail out the (Sorta) Big Three automakers, so Congress is debating giving billions to them.
This week, Congress will consider whether to cough up billions of dollars to bail out the troubled companies.
There are loud advocates with strong arguments on both sides.
Proponents of a bailout say that the industry is a victim of the global financial crisis. Wall Street has been bailed out, so why not Detroit?
They say millions of jobs could be lost and more than $100 billion in wages sliced out of an already-fragile U.S. economy.
“It would be a travesty for the irresponsible, reckless behavior of Wall Street to result in the sweeping away of the American automobile industry,” said Mike Jackson, CEO of Autonation, the nation’s largest auto dealership group. “If indeed it came to bankruptcy, it’s going to make what happened with Lehman Brothers and all the consequences of that a nice day.”
On the other side are those who feel just as strongly that the automakers’ problems are their own doing, born of bad business decisions, uncompetitive labor agreements and vehicles that Americans have decided are second-rate.
In my very small sampling of friends, radio DJs, and Internet blogs, the verdict appears to be running against a bailout. Youngstown, Ohio’s Hot 101 radio station is running their own auto bailout promo, giving away a car, since the Washington DC version doesn’t help anyone except execs (at least that’s what the promo suggests).
What say you?








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