Robert Sare/ Decker2

Wall Street Breakfast: Must-Know News

I worked in the automotive business for 25 years.  It has already beenthrough some tough times.  Easy credit has always been a big help.Now, it's a matter of life and death.      I say, see them through the bad times.  Better things are comming. The alternative is the end of the domestic automobile industry and their suppliers.  Lots of lost jobs and the beginning of a serviceeconomy for many communities.     I can't see helping the Japs is in any way in our best interest. 
Wall Street is in too much of a hurry to see things clearly. This
down turn may last at least 10 months while they write off all their
bad debt. Many businesses won't last that long if the government
doesn't step in and bail out these larger lending firms in trouble.
As for the unions, they take their chances. I have had businesses
close down under me because of union pressure. They know times
are real bad now but they have no choice. They have to protect their
members. To start over is unthinkable.
I think blaming the automobile companies is not the place
to start. There is a lot of big business out there that does what
they please. They control wholesale prices and do a lot to
rate the prices of goods and services. If the market were pure,
you would see prices go down. But no, they go on or up at a
unconsciousble rate. So see them likewise as a self-defeating
to the American Purpose. Where are the price controls like we
have had before? Where was gasoline rationing when the prices
were very high? We have lots to do before we should be blaming
car companies for their small bit of the overall market.