Enron

Tickle Me
Moderator
Oct 11, 2005
75,680
Upon receiving their second bailout after finally cutting companies that weren't selling, GM decided to ship more jobs out of Detroit and overseas. NY Times, Wash Post, the Journal, and most other major newspapers ran an articles bashing GM this Sunday. The American people don't appreciated their tax money going to pay Chinamen and Sri Lankans 10 cents an hour.

In other news screw GM and Forza Ford.
 

Bjerknes

"Top Economist"
Mar 16, 2004
116,527
Upon receiving their second bailout after finally cutting companies that weren't selling, GM decided to ship more jobs out of Detroit and overseas. NY Times, Wash Post, the Journal, and most other major newspapers ran an articles bashing GM this Sunday. The American people don't appreciated their tax money going to pay Chinamen and Sri Lankans 10 cents an hour.

In other news screw GM and Forza Ford.
Insiders today were selling shares like crazy, so that's what accounts for the drop.

Unfortunately, the automakers here might have to move away from Detroit and Michigan due to the union problem. I guess they just can't remain competitive with state legislation increasing support for the unions every other year.

Chapter 11 is the only solution anyway.
 

Enron

Tickle Me
Moderator
Oct 11, 2005
75,680
Insiders today were selling shares like crazy, so that's what accounts for the drop.

Unfortunately, the automakers here might have to move away from Detroit and Michigan due to the union problem. I guess they just can't remain competitive with state legislation increasing support for the unions every other year.
That's understandable, but the whole outsourcing thing is just dumb. Especially when basically the whole nation is watching.

But yeah, Unions need busting mainly the United Auto Workers and the Teachers Union.
 

Bjerknes

"Top Economist"
Mar 16, 2004
116,527
The EIA's 3rd quarter target price for crude oil is $55 per barrel. Right now we're trading just under $60. Hmm, oil overbought?

We might see a pullback here in crude, but if equities continue to rally I don't see a reason why crude couldn't go back up towards $80. Inflation is coming.
 

Bjerknes

"Top Economist"
Mar 16, 2004
116,527
There is a lot of supply out there right now though. Way too much.

But it doesn't matter. Prices are going higher in the long run due to inflation. Deflation fears are starting to subside.
 

Bjerknes

"Top Economist"
Mar 16, 2004
116,527
That's understandable, but the whole outsourcing thing is just dumb. Especially when basically the whole nation is watching.

But yeah, Unions need busting mainly the United Auto Workers and the Teachers Union.
The government pays $6B and loans out $6B to Chrysler for a equity stake of 8%.

But the UAW pays $4.8B and gets 55% equity.

:lol:
 

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