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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (44655)	11/15/2008 8:31:19 AM
From: ChinuSFO	Read Replies (3) \| Respond to of 149317

I think the US auto industry should go into Chapter 11, restructure their union contracts and executive compensation and benefits and then come back to ask for tax monies. As for Paulson, he should stop handing out money to banks temporarily, and resume only after determines that the banks have started giving out loans to those eligible so that they can go and buy cars etc. Maybe give loans to folks who can pay 30% down for a new car and have a job. Something like that. It may need a person with a "community organizer" experience to jump start this economy. In Obama, we may be seeing the first American US President who will continue to have a large involvment in community directly. JMHO

To: nigel bates who wrote (44655)	11/15/2008 5:46:05 PM
From: tejek	Read Replies (2) \| Respond to of 149317

>I am really, really skeptical about this $73 per hour number.<< I think the average hourly rate is actually around $27. The $73 is the hourly cost to the GM, Ford & Chrysler, including such stuff as health care benefits and pensions. I don't know the calculation methodology (particularly how they account for existing healthcare liabilities - which is of course GM's major problem), and I don't know if the methodology is consistent across the various industries they compare. If their real wages are $27 per hour then I think there must be something out of whack with the $73 per hour number. I mean.....why do they not provide a contributing break down with a number that large?