Friday, December 5, 2008

Dec. 5, 2008- Update: At a Loss


It has been a minute I know, I could blame the holidays, massive work schedule, beyond hectic social schedule and the like which is partially true, however the real reason is I was being lazy!

Anyhow what I have been doing is spending my work day with the background of the "Big Three" CEOs testifying (which is on while I am typing) to congress again after being told to comeback with a viable restructuring plan/model in regards to where exactly this money will go.

If you remember right before Thanksgiving the B3 came down in their "Private jets with tin cups in their hands" asking for $25billion in rescue funds to keep a catastrophic plunge of job losses and economic upheaval at bay. However, the B3 and the UAW made no concessions of changes that needed to be made in regards to business model restructuring, downgrading of executive compensation and worker pension and legacy that greatly exceeds the average pension plans. With that Congress told them go back, try again with an actual plan on what funds are NECESSARY to keep their businesses and "AMERICA AS WE KNOW IT" (sarcasm added) afloat, and maybe when they returned coming in THREE SEPERATE PRIVATE JETS should be avoided!

Well they did return to a critical and skeptical congress, without the jets, in fact they came in each of their respective hybrids and ride-sharing with a generally vague restructuring plan filled with Auto Industry Jargon and little in the way of actual dollar amounts BUT this time they needed $34Billion! But they can't promise that they will close only foreign plants (so there is no confusion) THIS MEANS THAT EVEN THOUGH THEY WILL GET MONEY THEY WILL STILL CUT AMERICAN JOBS... But I swear that is why they need the money... To keep jobs in America!

Mind you if they had restructed at the top over twenty years ago, not sent soooooo many jobs overseas, didn't focus so much on BIG GAS GUZZLING vehicles, and put forth effort and ingenuity towards fuel efficiency and fuel free vehicles THEY WOULD NOT BE HERE!

Let's keep the 34 theme going... For the first time in 34 years the highest number of jobs slashed 533,000 has made the unemployment rate soar to 6.7%!

SOOOOOO just another aside. Chryslers parent company Cerberus Capital Management which owns 80% of Chrysler and has the money to make the loan without batting an eyelash... IS REFUSING TO INJECT ANYMORE MONEY INTO CHRYSLER!!!! Unreal...

"Growth is always worth the price you pay, because the alternative is a limited life with unfulfilled potential"- Anonymous

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