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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: architect* who wrote (31309)	4/25/2012 6:39:05 PM
From: robert b furman	4 Recommendations Read Replies (3) of 222670

HI architect, For 16 years I worked for GM and than for another 25 ran /owned a GM franchise. In my life the UAW has strangled the crap out of all Domestic auto companies. Ford was the first and best at getting rid of UAW workers through outsourcing. GM tried the patriotic death walk and kept high priced extortionist union worker till bankruptcy alomost got rid of them. Would have if our president hadn't paid back a political favor to the UAW.Illegal as heck but that doesn't stop Obama from politics. In The USA AS GM AND CHRYSLER WENT THROUGH PACKAGED BANKRUPTCY THERE WERE 27 PLANTS SHUT DOWN IN THE USA. All of this globalization is being done to chase cheap labor. What is not thought of enough is the excess capacity all of the new plants create. As you point out the chinese consumers are additional consumption if they can afford to buy the product and cretainl that has been helpful and will continue to be huge. Surely if it is now the largest car market - think what consumption can be drivenb by a mree 600.00 iphone. Unions are dinosaurs in the private world - a fitting end to unbridled greed from what I saw of it. The auto excess capacity in Euro land has never yet been addressed - fiat has closed down one plant. The need to right size their domestic industry. From what I've seen precious little returns from an outsource situation. Maybe if it can utilize cheap nat gas - there is a justification. Other than that if you see it leave - say good bye and something must shut down. That leaves us with a consumption based economy where manufacturing plays less of a role. Innovation in so far as resource harvesting continues to be a natural advantage for us. The cost of unions labor made people replacing equipment a necessity long ago. Another lesson the emerging markets will embrace later on well after wage inflation. Bob

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