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11-19-2008, 08:30 AM
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Guru
Join Date: May 2002
Posts: 40,410
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To bail out or not to bail out...that is the question.
So the Big 3 automakers bailout has been in the news lately. I was talking to a buddy yesterday and he said that the first 43% of a 25billion bailout would go to retirees...right off the top. Very little if any in investment or anything to keep them competitive...just helping them pay the bills for a little longer.
Their business model seems untenable..their workers make almost 2x other comparable workers and they cannot make money on anything but larger and pricier autos...even though their competition here in the states can. I'm thinking this is not an investment worth making. I think that union needs a bust-up.
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