Things to note in the world today:
1. Iraq: Sunni militia members in Baghdad revolted Saturday, prompted by the arrest of an Awakenings movement leader by Iraqi forces. The crisis was resolved, but it raises fears that the relationship between the government and Sunni militias-many of which are not being paid as promised-could be strained to the breaking point.
2. A profile of anti-tax nuts, many of whom never met a crazy legal argument they didn't like.
3. The Federal government says GM and Chrysler are not viable, and refuse to offer more aid. Bankruptcy looms for both companies.
4. Mexico faces extreme difficulty putting down the drug cartels, and critics are beginning to call for a change in approach.
5. The women's professional soccer league, version 2.0.
Showing posts with label Auto Bailout. Show all posts
Showing posts with label Auto Bailout. Show all posts
Monday, March 30, 2009
Wednesday, February 18, 2009
It's About the Workers
In light of the news that G.M. and Chrysler are seeking $14 billion more from the federal government, I have to agree with the point that Robert Reich is trying to make in this commentary:
G.M. and Chrysler both are promising to cut tens of thousands more jobs as they ask for more money. Of course given the incredible drop in demand, they must restructure their business model to follow suit. But the question we need to ask is, what are their workers, and what are we, getting for this?
I'm not arguing against an auto bailout. But its purpose ought to be to help American auto workers keep their jobs, regardless of whether they work for GM or Toyota or anyone else. Or if they lose their jobs, help them get new ones that pay almost as well.
Yet we seem to be on the road to doing exactly the opposite: paying the Big Three billions of taxpayer dollars to keep them afloat, while they cut tens of thousands of American jobs and slash wages. We're transferring money from taxpayers to Big Three shareholders for no apparent reason other than the Big Three are headquartered in America.
Let's get real. The Big Three have blown it for years -- designing cars that an increasing number of Americans don't want to buy. This fierce downturn is pushing them toward reorganization under bankruptcy. There's no reason for taxpayers to foot any of this bill, unless the Big Three agree to keep their workers employed while they try to turn themselves around.
The American auto industry is not the Big Three. It's Americans who make automobiles.
G.M. and Chrysler both are promising to cut tens of thousands more jobs as they ask for more money. Of course given the incredible drop in demand, they must restructure their business model to follow suit. But the question we need to ask is, what are their workers, and what are we, getting for this?
Labels:
Auto Bailout
Wednesday, December 24, 2008
G.M./Chryseler Close S.U.V. Plants
The era of the S.U.V. is over. As necessary as the changes are, it's truly unfortunate that it took an economic calamity on this scale for us to adjust our behavior as a nation. And a lot of people are losing jobs who could've made a transition to something else in better times.
Labels:
Auto Bailout,
Automobiles
Friday, December 12, 2008
Senate Republicans Reject Auto Bailout
John Cole on the stupidity and mean-spiritedness of Republican Senators:
No doubt, this principled stand against auto workers making too much money has nothing to do with the GOP's propensity to screw blue-collar workers and everything to do with a re-discovery of fiscal conservatism, a frugality they've discovered just in time to oppose bailouts that are needed to save our economy.
Just in case you are confused- Republicans object to a car czar overseeing the bailout because it is too much government interference, but a few Republican Senators dictating from Washington how much companies pay their workers is just the invisible hand of the free market bitch-slapping you while you are down.
No doubt, this principled stand against auto workers making too much money has nothing to do with the GOP's propensity to screw blue-collar workers and everything to do with a re-discovery of fiscal conservatism, a frugality they've discovered just in time to oppose bailouts that are needed to save our economy.
Labels:
Auto Bailout,
GOP,
U.S. Senate
Saturday, November 22, 2008
Lame-Duck Session
Congress returned to business this week, passing an extension of unemployment benefits (thankfully, still-President Bush reversed his opposition) but punting a bailout of the auto industry until the Big 3 can demonstrate how the money would help.
Ever-masochistic, House Republicans elevated strong conservatives to leadership posts. Rep. Henry Waxman successfully toppled Rep. John Dingell as chairman of the Energy and Commerce Committee, likely giving stronger voice to environmentalists just as the Senate prepares to introduce bills after Obama's inauguration to combat global warming.
Ever-masochistic, House Republicans elevated strong conservatives to leadership posts. Rep. Henry Waxman successfully toppled Rep. John Dingell as chairman of the Energy and Commerce Committee, likely giving stronger voice to environmentalists just as the Senate prepares to introduce bills after Obama's inauguration to combat global warming.
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