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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (111588)	4/28/2005 12:53:57 PM
From: John Carragher	Read Replies (1) \| Respond to of 793927

gm got big time management problems and never could handle uaw. they gave them everything to avoid a strike and tried to pass along the cost in their cars. You do not retool a factory or production line overnight. I assume it is profitable for them to sell less and less of the big cars but still have net profits. Gm and UAW have to settle on benefits and production otherwise UAW ends up like ocaw did years ago when they got drivers salaries sky high.. we went to dedicated drivers and now ocaw doesn't have any drivers. When times got bad they refused cut in salaries although they got great increases when times were good. Why not go to xon home page for investments. I think they will bring you up to date or send an email to investor relations. To invest , explore, drill, produce a field may take a decade or longer. You do not go into a project like that without having a good idea of what the price of oil will be at the end. The oil industry has done a lousy job at project prices. Sable island off nova scotia is a great example. so many companies bailed out of that project and canada pumped a ton of money into it just to keep jobs in maritimes. i believe break even oil is $25. no one ever thought we would see a profit out of sable it just kept eating up money investments. The area is now twenty or more years old. I cannot imagine what it costs to find a field that will pay out in todays prices.