Thursday, September 30, 2010

Not Business as Usual?

Two nuggets in the news that add to the increasing pile of evidence that we are doomed:

  1. A UAW chapter has nixed a deal to sell an Indianapolis parts plant that would have kept its doors open, albeit with lower wages and benefits. The opponents' rationale was that when the plant closes, many of the union workers will be able to transfer to other plants, keeping their current higher rates of pay. The unlucky workers at the plant who cannot transfer, all of the support workers at the Indy plant, and local merchants are, of course, left holding the bag.
  2. It seems that majority taxpayer-owned General Motors has made over $90K in contributions to congressional campaigns, including those of Democrats John Dingell, Debbie Stabenow, and Republican Eric Cantor. To say that this reeks of "moral hazard" is to be polite.

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