Here's the flip side.... from CNN today... regarding the GM Moraine plant in Dayton Ohio where my dad worked. I still have a Little League uniform with their name on it from 45 years ago. http://www.cnn.com/video/?/video/us/2008/11/19/us.auto.parts.plants.closing.cnn
You guys don't get it. You think the 5% drop in the Dow and the 6% drop in the Nasdaq today was just about what the Fed Reserve had to say? Really....you think so? No...I'll guarantee you it was about Ford stock and GM stock dropping like a rock on all the negative news from the Hill regarding the bridge loans they so desperately need. One thing....if I lose lose my job I will relish in the angst felt by all who see their portfolios shrink to nothing and who at the same time think this is all about the UAW worker and nothing else. From CNN: "Stocks fell hard on Wednesday, with the Dow closing below 8,000 for the first time since March 2003, as ongoing anxiety about the economy and uncertainty about the future of the auto industry weighed on the market.'
Hey no problem MCG. We have Grandholm (who's on a trip to the Middle East for some f**kin" reason) and Levin and Stabenow. No problem. Sure this is the same Democratic party that wouldn't even count primary votes from Michigan but I'm sure in the long run they'll take care of you and the others. After all, you're not able to take care of yourself.
Yeah...I'm sure you saw this coming 40 bazillion years ago when you decided to go into law....right Gipper? Hey...back in the 80s I used to just handle computer transportation but then when miniaturization of mainframes came about due to microchips I evolved and focused on automotive which offered up a ton of business for many years. Doesn't look so good now....but blame me....you @@@@
Dude, I know this is hard for you. I have no words that will make it better. I will say, giving the example that you provided that in one case you were able to adjust with the times and move into a sector that provided job security for you. Now it seems that you may be faced with change again. We knew one thing back in the 1980s... The auto motive industry was a broken model then and headed downward...
When in Rome.....do like the Romans.. I decided back then that the real large volumes of business in this town were automotive related....plain and simple and I was right. That is still true today but how much longer? I am afraid Gipper won't have anything but robbery and bankruptcy cases around here if this ship doesn't get righted.
Michigan unemployment numbers are at highs not seen since 1992...9.6% ....and this is before any drastic layoffs due to the potential failure of the Big Three. They fail and I would guess actual unemployment numbers in Michigan to be a Depression like 30% with an additional overqualified large % of the workforce working "new age" jobs that won't make the house payment. The other real issue is how would you sell your house and get the hell out of here?
Geez MCG didn't you listen to all those Democratic campaign commercials that blamed the Bush administration and Republicans for all the losses in jobs. Now that we have a Democratic governor, 2 Democratic senators, loads of Democratic reps. and a Democrat in the White House those jobs will be headed back to Michigan. Prosperity is just around the corner.
To whom it may concern.....this is the plan that the Bush administration has been proposing all along only to be torpedoed by the Reid/Pelosi cabal.....the Dems should have all the votes they need....it's all up to them
In another blow to Michigan and the auto industry, John Dingell lost his chairmanship on the House Energy and Commerce committee. How did Dingell who in February will become the longest serving Representative in House history. Well according to Democratic Representative Bart Stupak So even though their not sitting yet, these frosh lawmakers know how to give in to the "special interests."
I understand Congress wants the CEOs to comeback with a business plan in hand. That doesn't seem to be asking too much. Free advice: Fly commercial next time
Yeah, like Congress never runs at a deficit :!: :!: :!: http://www.brillig.com/debt_clock/ Who the hell are these aholes kidding?
This is actually great theater.....the Redi/Pelosi cabal, beholden to the UAW for the election victory, trashes yet another way out letting labor swing in the wind at the end of a rope...... and yet it no doubt remains Bush's fault! :wink:
Millions are swinging from this rope. My company does over 70% of it's business with the Big Three and we are joined by 4,000 other unfortunate companies as well. But nobody gives a crap except those same people who don't care bemoan their stock losses when the news isn't good on a bailout. To that....I say get used to it....and worse if this thing goes south.
I don't buy that argument but I have no doubt that the consequences in your part of the world and my home state as well will be very, very difficult for some time......that said, it's broken and needs to be blown up imho before it can be resurrected in a manner that adds value and is sustainable.....while harsh, there may never be a better time than now.....imho. Once Obama takes office, given their role in his election, there is no way in hell that the UAW will be forced to make the concessions necessary to create a competitive business model.... There is no logic behind the idea that we should invest more billions to sustain something that we know destroys value and is not sustainable......
Prepackaged Bankruptcy....Obama is looking at this as an option. Of course since he doesn't get a say till after Jan 20, at which time the Autos will have run out of money anyway. I'm not sure what the point is from his standpoint. But it is interesting. Obama hires Bankruptcy Lawyers to advise him on Autos
From a commentary on CNN: "President Bush started his term on the promise of bringing new civility to Washington and boasting of his ability to reach across the aisle in Texas. Early in his presidency, he displayed some flashes of this new tone with No Child Left Behind and with his initial response to the September 11, 2001 attacks. But that bipartisan approach quickly faded into Karl Rove's strategy of playing to the base of the party. Now, with just less than two months left in his presidency, Bush should follow the tradition of lame-duck presidents who tried to make a difference, rather than simply playing out the clock. The economy is in crisis and there is strong demand for Washington to do something. President Bush's legacy could benefit from some effective action. The president should break bread with Democrats and get this recovery started." Man do I agree with statement about Rove.....what an ass.
whatever. hey, i see some cities are now lining up at the federal trough. i suppose you think they should get bail outs too? Philadelphia, Atlanta and Phoenix...all have metro areas bigger than Detroit and are looking for a government pay check. How do you feel about this Dave?
I seem to remember that quickly after Bush assumed office the Democrats became very difficult to work with. If not for 9.11, I don't think they would have worked with him at all. How sad. In his second term they vowed to block him at every turn the instant he won re-election. It takes two to tango. Dave, how do you feel about Obama loading up his administration with Clinton folks? Kind of flies in the face of the "change" people were looking for, doesn't it? Or does this simply highlight the fact that he has no experience playing at this level? I'm also wondering how you feel about having a president and secretary of state with no foreign policy experience?