Wednesday, September 26, 2007

That was fast!

Or so my wife said...rimshot!! Thank you folks I'll be here all week, tip your waitresses well.

No, about the GM strike. That was fast. Doesn't GM lose money on every car they make? Hmm. If they make no cars they will lose no money. You'd think they could last this strike for a long time, but caved in 48 hrs.

This could have been a golden opportunity for GM to hammer the unions and they blew it.

GM and Ford are both up in pre-market.

Disclosure: I own a small amount of Ford bonds; 7.3% coupon with a 2012 maturity.


Kristen =) said...

I have been complaining about this all day! I live in Michigan so the UAW is a big deal here and in my opinion GM just allowed the union to gain more power and drive one more stake into Michigan...

BTW... I read your wife's blog and that is how I found You.

Ed said...

I read that in some parts of detroit, houses are selling for less than cars.

Yeah Michigan is a sad case. Yet instead of lowering taxes and regulation, the state is doing the opposite.

Now GM is shooting itself in the foot yet again.

Thanks for visiting.