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  • Banks Are Yet Again Under Pressure [View article]
    The fact that the Congress did not just dole out funds to the automakers was a good thing. It showed some sanity. It showed they are not too scared. They demanded a plan from the automakers. They should. It appeared the automakers were just going to beg that they be bailed out without any long term plan other than further bailouts. The Congress actually gave the automakers a negotiating tool. The UAW will likely have to agree to pay cuts in much the same way that the airline industry has done. Otherwise it is unlikely there is a possibly viable plan for the automakers.

    Those guys seemed to have no clue, excpet that they knew they were in trouble. For highly paid executives, they looked extremely foolish.
    Nov 21 09:49 am |Rating: 0 0
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