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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (43180)10/10/2005 10:45:25 AM
From: Jim McMannis  Read Replies (1) of 110194
 
Delphis UAW workers were getting paid like auto assembly workers. In 1999 they spun off at $27/hr. No way could they compete. The Unions refused to take a big pay cut, busted the company.

GM, with 38 billion in cash reserves could have bailed them out but decided not too...

Now BOA has downgraded GM.

I wonder if Detroit RE is becoming a wasteland?
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