The government is placing our bets. Will they put another $50 billion on the wheel? Would you lend a gambler big bucks?
Of course not, why would anyone and yet we are about to do that AGAIN.
The auto industry, the big three, are in big trouble. It did not happen over night and the $ we already "gave" them is long gone already. Yes, those were gifts. Wave good bye to your $.
United Airlines has been in and out of bankruptcy a few times. Throughout the process, they continued to fly. If GM, Ford, and Chrysler take the same road, people will keep working. Cars will roll off the line.
The difference? The companies can make wiser decisions, regroup their debts, and reconstruct a plan.
Oh, yes. The UAW will be back at the table to negotiate contracts all over the place. Possibly, the darkness will be lit and we will see why it costs these manufacturers over $70/hour per worker while Toyota pays less than $50/hour per worker.
Maybe the big three will go on diets and survive. Tough to face but I'm not comfortable gambling with all that $.
'til later
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