Stock Market drops 1000Pts by noon

[RockMonkey]

So... The Dow closed up 64 points.

 

[wally]

Wish I had more money to put in today. The stocks I did buy is up 8%. Not bad with the way things are right now.

 

[Crinco]

EDIT: "The Detroit Three employ 239,000 workers in the U.S. Counting other businesses that depend on the automakers, economists estimate that 2.5 million jobs would be lost if all three companies went out of business......"

And that's just in the US

I think that a lot of people fail to realize what that many people out of jobs would do to the economy. You think that it's bad now......take a look at the bigger picture.

I read that the number was closer to 3.5 million jobs on the line with the "big 3" and direct suppliers, dealers, transporters, railway, trucking, painting, metal manufacturing, plastic....... well, you get the point.
I don't really want them to go under, but there needs to be a forced method of restructuring that will make them more efficient than they are. In the comparison of Toyota and GM, it is almost funny to see how one fails and one succeeds, but GM's troubles are with the Union and their retirement plans, spending BILLIONS more MONTHLY than Toyota does. It isn't because they can't make a good vehicle.
I am a Business owner and I can feel it too, people are afraid to spend their money on food right now, let alone 25000, 35000, or 50000 $ cars and trucks. So as for the bailout, they are damned, whether they do or don't.

 

[offroaddave]

i thinks its a joke. Lay it down for the unions. Take less and have a job or take more and loose yours. It's not like their are a ton of other auto jobs out there either right now.

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