President Obama!!!
I gotta give credit where credit is do! I have been shouting into the wind on a pre pack bankruptcy for the Auto makers... and now, a DEMOCRAT President is taking on the job of telling it like it is and doing the right thing - stripping away all of the legacy issues KILLING the industry in a pre pack bankruptcy.
I am stunned and pleasantly surprised. I thought for sure that the administration would waste a great deal more time and effort trying to right these sinking ships.
Now, let us do what needs to be done with the Banks... and yes, I know that that is FAR more complicated and dangerous than pre paking the Auto makers. I wish them luck...
Mentatt (at) yahoo (d0t) com
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It might be easier to do what needs to be done with the banks if it has happened already to the industrials.
Regarding legacy costs, I would say nationalize the health care system while you're at it and remove that burden from the backs of business. But I guess that would be too EuroSocialist or something.
I work with cars all day, and I'm a hard-core democrat. I know how these democrats think -- that there should be first place ribbons for all 50 participants every time in every race. :) GM and Chrysler's nameplate may fade (Ford's too someday), but these two entities will continue to make cars for "someone" in the future -- whoever bids the best I guess, and the Federal government will continue to shovel money at them in one form or another. Even Congress cannot sit on its hands forever. Obama is losing a little of his luster every day. Someone will say something.
The massive US daily imports of oil(and all the other essential products we no longer produce) can be paid for in several ways-
1. Trading other natural or other resources. An exportable agricultural surplus depends on the incoming oil imports. What other resources?
2. Paying in more and more paper dollars. The oil exporters are becoming increasingly unhappy with this option as are the creditor and manufacturing nations.
3. Trading quality manufactured products.
Manufacturing is the only thing we've got left- even if it isn't all that much.
thanks for sharing.......
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Sharon
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