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  • Wall Street Breakfast: Must-Know News [View article]
    >> "How Obama and the Democrats in Congress handle the Big 3 ...hope they make the right moves. " >>

    Wishful thinking. There is NO "right" way to handle the mess the US automakers have been building for years, no, decades. NO painless way. NO magic formula for turning this sow's ear into a silk purse.

    It is absolutely necessary to cut legacy costs from the parent companies for them to have any chance at viability. Switching UAW retirees from pension and health insurance to Social Security and Medicare will be messy. There will be chaos in the auto parts markets and dealer networks.

    To think that there is some magic program that can be implemented that will "solve" the problem is naive. To saddle the incoming President with the expectaion that he can wave his magic wand and fix it all is totally unfair to him.

    The US automaker mess will get messier and more chaotic regardless of what this or the next President or Congress do.
    Dec 23 10:53 am |Rating: +2 -3
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