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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (281204)	11/18/2008 5:35:00 PM
From: unclewest	5 Recommendations Read Replies (1) of 793928

The automobile business and the bailout. While researching some stocks today I took a look at GM, Ford and Daimler-Chrysler. Their combined total reported employees is over 1,000,000. Other reports indicate the average US automaker employee's salary plus benefits is almost $75 per hour. $75 X 40 hours X 52 weeks = $156,000 per employee. $156,000 X 1,000,000 employees = an annual payroll of $156,000,000,000.00. That is $156 Billion. The previously reported and approved $25 Billion loan package, coupled with today's request for an additional $25 Billion will enable the three companies to meet payroll for almost another 4 months. That should enable them to avoid filing for bankruptcy until April Fool's Day. This time the government wants protection in the form of some assets. I wonder how much antiquated automobile factories located in Detroit will be worth? uw

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