To put it in perspective, if 3 million jobs will be lost, the 25 billion that would have gone into the bailout will pay the unemployment benefits on those 3 million workers for only 4 months. Think everybody will be back at work in 4 months? Dream on. . .
The big 3 would have a fighting chance if they could get out from under those ridiculous union contracts. The easy way would be the bailout, with requirement that they do so; however, with the Dems in charge, that will never happen. Only practical way is Chapter 11, and a bankruptcy judge will do the job with the stroke of a pen.
BTW, a large part of this is the credit crunch, not lack of interest in buying cars. Local Ford/ Toyota dealer had 27 deals put together one Saturday a couple weeks ago, but could only get financing put together on 5 of them. The other 22 went home disappointed. The folks who aren't buying are the more well heeled and conservative ones, who don't need in-house financing. When's the last time someone traded in a car on a new one, who really needed the new car? Most new car buyers do so because they want to, not need to. The wiser among us are just driving that perfectly serviceable 3 year old car another year or two, until things stabilize.
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Today's Featured Article - Gettin My Old Tractor Home - by Clayton Sweeney. My name is Clayton Sweeney. I am from Southern Maryland in a small town called Lothian. I am 20 and my father and I are the proud owner of a 1954 Allis Chalmers WD-45. When I was 18, I dated a girl in the next county over. Her family are tobacco farmers. It was a cold Thanksgiving evening, and we were going up to her Grandparents house. As we passed one of their barns, I noticed something orange in the corner of my eye in this old shed. It was pretty dark and I asked what it was
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