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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (436433)11/24/2008 9:18:24 AM
From: i-node  Read Replies (1) of 1575783
 
Hell GM is the first or second largest car company, and has the #1 nameplate in the fastest growing market in the world. If a couple of months slow down in the economy makes that threaten bankruptcy, then the problems run deep.

GM was not exactly the picture of health going into this mess. The problems ARE deep. They are paying twice the labor costs of their competitors. Obviously, this is a very significant problem.

Management, in fact management across a lot of industries in this country, has let itself get in a position where a recession, or even the hint of a recession, makes them financially unviable. No nuts squirreled away for a rainy day. Too much debt. Working on the assumption that every day will be a sunny day.

True. The unions have drained them of capital for YEARS. And now, the rainy day is here and there is nothing left.
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