The Death of the American Automaker: The Big 3 Minus 2
Today’s news of GM’s filing for bankruptcy surprised no one, least of all the hundreds of thousands of people employed by GM and its subsidiaries. This news has been simmering for awhile and in the past few weeks the question quickly turned from “if” to “when”. Now that the day is here, news of the [...]
The No Surprise News: Workers Are Scared
Coming off of the news that Chrysler announcing will be closing a staggering number of dealerships today (789 across the nation, 40 in Michigan alone), and the fact that GM’s shares hit a Great Depression-esque low, it is hardly a surprise that America’s workers are scared shitless. Not only do they fear their job security, [...]
Chrysler the Sacrificial Lamb
Here in Michigan people are awaiting a fate much worse than Swine Flu or any other pandemic. Today was the day of destiny–will Chrysler pull out a last minute recovery as many of our sports teams have over the years, or will they fade into bankruptcy, putting the lives of so many in jeopardy. It [...]
About time: The Auto Bailout Begins
This morning, President Bush made a snowy Detroit much more at ease with the holiday season. Bush announced a plan to immediately loan the Big 3 $13.4 billion with an additional $4 billion available later. There is a catch, though:
The loans are designed to stabilize the two automakers through March 2009, at which time they [...]
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