It appears now that the U.S. Senate’s rejection of the The Great Auto Bailout last night came down to the UAW’s refusal to accept wage concessions. What a shame. One union brings down the whole deal. At least that’s what Republican senators are saying. Evidence again that unions are determined to “get theirs” no matter … Continue reading Maybe nothing is the thing to do
I’m not a fan of unions. I simply don’t see the need for unions today. Safety in the workplace is enforced by law. Wages, salaries, and benefits are determined in and by an open job market. Unions serve no purpose but to intimidate employers into paying more than they might otherwise. Give the union what … Continue reading Unions good for killing geese
The Dow today closed down 680 points. Gulp. Pundits are saying it was due to the release of several negative economic reports, one of which announced the U.S. is officially in a recession. That one was from the National Bureau of Economic Research, and according to it, the economy peaked last December. It took this … Continue reading Surprise! It’s a recession
Dear Asian automakers: We’ve all seen pictures, like these at the New York Times, of your new cars jamming the lots at the port of Long Beach. It certainly has me, the owner and driver of a 15-year-old Mazda, thinking that now might be a good time to consider getting a new set of wheels. … Continue reading Open letter to troubled Asian automakers
The Great Bailout of 2008, ill-conceived and hastily enacted in early October, is continuing to implode. $700 billion, more money than most of us can imagine, is half gone, Treasury Secretary Hank Paulson has unilaterally changed the rules for its distribution, and the oversight committee has yet to be named. This, you’ll recall, is the … Continue reading The bailout boondoggle, GM, and me me me
These days we have politicians of all stripes promising help to homeowners who’ve gotten in over their heads. Can’t pay your mortgage? Just hold out your hand. The government is coming to the rescue. Rescue? From your own irresponsibility in buying a home you couldn’t afford? From your own failure to plan for the escalating … Continue reading Home ownership is a responsibility, not a right
