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Let Them Work It Out
A Blog For All —
... a large reason why General Motors, Chrysler and Ford were failing miserably - unsustainable wage and benefits packages that made it next to impossible for the companies to ever turn a profit. For their part, the automakers are promising concessions on executive compensation as well. It's a start. Let's see how the UAW and the automakers proceed. They don't need a bailout; they need a harsh dose of reality to spur them to do what should have been done years ago. There's a reason that many are skeptical of the automakers claims these days , albeit that doesn't apparently ...
No, No, No
Oliver Willis —
... No money for these Detroit schmucks. They’ve already upped how much money they need and it isn’t going to work. They don’t know how to run their business, and don’t even know how to ask for money properly - they go from private jets to the cross-country driving stung - gimme a break. ...
The Early Word: The Big Three Try Again
The Caucus —
... in a row, the chiefs of the country’s largest automakers will plead their case for federal aid on Capitol Hill, testifying before the House Financial Services Committee on Friday. And they are likely to face as steep of a climb as they did on Thursday when, in front of a Senate panel, they “found themselves confronting years of pent-up anger, the harsh politics of a recession and the realization that even their strongest supporters might not be able to muster the votes to save them,” according to The Times’s David M. Herszenhorn and Bill Vlasic. Several Congressional leaders ...
Wanna Save the US Auto Industry? Pay Congresspeople $1 per Year
Firedoglake —
... The last of the American auto industry was forced to grovel today before a do-nothing Congress to explain why Congress should be willing to loan the heart of America's manufacturing base enough money to survive. To state the question is to show how irresponsible this Congress and the Administration are. [Updates from ...
Have You Heard Bush Telling Americans Not To Worry Lately And To Just Go Shopping Because The Fundamentals Of The Economy Are Strong?
DownWithTyranny! —
... with the auto executives on TV today, I'm inclined to think he needs the same treatment as Bunning. Corker voted for the ill-conceived Wall Street bailout for the banksters. Is it that he just hates workers? And many of the loudest advocates among the union busting Republicans who joined Corker on bailing out the banksters, agreed with him that the American automakers can go to hell. Among them are several facing re-election in 2 years: Robert Bennett (R-UT), Kit Bond (R-MO), Richard Burr (R-NC), Tom Coburn (R-OK), Chuck Grassley (R-IA), Judd Gregg (R-NH), Johnny Isakson ...
Drive Time
N/A —
... I should drive to DC, just like those auto execs. Nothing quite succeeds like meaningless symbolism. Is there a joke here somewhere? ...
