40K + More Jobs Headed for the Toilet
Keep up the good work, Barry...
******Chrysler announced the elimination of 789 of it's dealerships. Since I used to be in the car business, let me tell you what that means. Even by low-ball figures of 50 jobs per dealership, it amounts to close to 40K jobs in the toilet. And I'm not including the peripheral businesses such as auto parts, service, and on and on.
Tell me again why we gave Chrysler and GM a gazillion dollars...please!
Dealers Struggle With Chrysler Elimination Plan ...
Chrysler won't repay bailout money
An administration official confirms that a $4 billion bridge loan and $3.2 billion in bankruptcy financing won't be paid back by Chrysler following bankruptcy. read more
4 comments:
This is why you don't accept money from the mafia, loan sharks or politicians.
I live in Canada's Motown, just south of the river from the real Motown. It's over. Talk to men and women who were on the line who were around 30 years ago saying it was over then unless the city and region broadened the manufacturing base. We have the highest unemployment rate in the country. The city is imploding. It's going to get worse before it's better. No wonder I can't get a "joe job", I'm competing with all the ex-Big3 workers.
Obama has accomplished so much in such a short time - I think he needs a monument.
Well, the auto-bailouts were designed to protect UAW jobs. Once that is understood, everything else makes sense. Remember, the UAW matters because the unions are essential to the Democrats' political success. Creditors, dealers, and all other economic considerations are secondary to the well-being of those who are favored by the political leadership. That is the very nature of the kind of plunder-state Obama and the Democrats are busy creating. The market doesn't matter, the rule of law doesn't matter, contracts don't matter. What matters is who you know and how much they value your support. Once you part of the charmed circle, nothing else will matter.
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