GET READY TO SUPPORT THE UAW

Get ready for some serious shit....the bankruptcy hearing won by UAL over their unions to end pension contributions is going to have one hell of an impact on all of us. United will cost us in excess of $3 billion; I don't know what American and Delta will cost us

BUT GM AND FORD will cost this country a ton. We will be bailing out inefficent management and unions with an attitude of "kick 'em when they're down" to the tune of....$25 BILLION.

All the S&P 500 companies are on the hook for more than $200 billion THAT WE will be paying for if these companies don't turn around.

Extra Reading is HERE
Catastrophic healthcare costs for GM will run another $4 billion. Ford's situation is not quite as bad but it is really bad at around $6 billion that WE will have to pay should Ford end up sleeping with the fishes.

Not to get too complicated, but because of union agreements (it would seem) Ford bailed out it's former subsidiary Visteon to the tune of $5 billion.

The union is already making noises about the government picking up ALL their health coverages so we are heading to socialized medicine as sure as Hillary Clinton will be president. The UAW has always been a Democratic favorite and will continue to be in the coming years.

Very light blogging today.....