Markets

Biggest News on the Street by far is the now fully funded pension plan at General Motors. Every analyst was worried. Ford has still got big problems, with a low stock price hurting the company. Keep in mind that GM once dominated the world and had 50% of the U.S. market. Their high end business is now beginning to dominate; led by Cadillac and Hummer. The new Cadillac is becoming the hot car for the young rich. The problem with all the car companies is the UAW who keep demanding higher benefits and may shut down the industry, although their arrogance has been modified over the past five or so years by losing organizing campaigns everywhere, and the delicate positions of the Big Three. But this pension reversal is major news. Major.

Piss poor jobs number but positive anyway. This was a pretty big surprise. I only know of one analyist who predicted less than 100,000 jobs increase. Keep in mind that jobs are a lagging indicator. This means that manufacturing jobs won't show up til next time, or even later.