2/03/2007

Even Popular Mechanics says that GM has hit a home run with its new all electric car. Top speed 100mph and a range of 600 miles before you have to stop to recharge. But can GM survive long enough to deliver while it retains those UAW contracts? Something is very wrong with our political economic system to allow a huge company with a million jobs to go under when everyone knows how to fix it. We are talking of an entire state going bankrupt if GM goes under----and neither political party is even talking about it. Whatever the selling price, $1500 of the selling price of GM cars is UAW benefits---that include guys laying around doing nothing for months at a time on full salary. BTW one analyst is saying that the extra cost is closer to $1,800 per car if you count the daily unfunded retirement liability. When you combine the UAW with the deliberate manipulation of the Yen by the Japanese we have a problem.

Hello??? Hello?? Oh, George is asleep? Never mind, don't wake him.

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