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  • Wall Street Breakfast: Must-Know News [View article]
    Robert Sare - if I get what you're saying correctly, the unions are willing only to choose between two options -

    work for wages that are unsustainable and will kill the company or

    not work.

    The ONLY thing that will fix our auto industry is to restrucure costs, the greatest of which is personnel. Without that, bankruptcy is just a matter of time.

    And it would also require serious reductions in officer, director and white collar salaries as well.

    There is NO other solution. Current personnel costs are unsustainable, long term.
    Nov 06 14:25 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Eddie - I like your second point - legalize drugs. The AMERICAN farmer should be growing our domestic supply, eliminating the world's drug cartels and providing farm income. It should be sold in government ABC-type stores with the feds getting a bunch of revenue to pay down the national debt.

    Make the importation of any drugs a capital offense. NO second chances. I'm for free trade, but not for all commodities.

    We seriously need reform and a new way of looking at, and doing, things.
    Nov 06 14:17 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I voted, but not for McCain or Obama. I see the two ruling parties - the Republicrats - as the problem, not the solution. I am extremely hopeful that, with his incredible oratory skill, Obama will be able to use the "bully pulpit" for positive change. It will not be easy.

    Pelosi and Reid obviously never took, let alone passed, Econ 101. Their econ IQ's are below room temperature. And Congress is packed with ciphers whose priorities start with self, then campaign contributors, then party, and finally if there s anything left, they may consider the interests of the country and its people. Statesmen are rare these days.
    Perhaps extinct.

    I wish Obama well. The old ways of doing things clearly don't work. And Congress is not exactly known for its radical, groundbreaking, inovative nature. We need radical changes in every facet of economic endeavor and have entrenched proponents of every unsustainable part of the system.

    It's about to get even more interesting.
    Nov 06 10:54 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    The US auto industry, like the financial sector, grew fat when times were good. They are unsustainable industries in current market conditions. It would be the height of foolishness for the federales to support either at their current cost levels.

    Current UAW wage levels prohibit companies from being profitable and officer and director salaries are absolutely obscene for an industry that hasn't made a profit in years.

    As a taxpayer, I don't want to see one penny wasted to support the auto industry industry's current personnel expense. To do so would be to pour money into an enterprise that is eventually guaranteed to fail.
    Nov 06 08:46 am |Rating: +4 0 |Link to Comment
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