Auto Industry

[rie'smom]

Don't ever use the banks again either. And don't ever buy any gasoline, because they sure ripped us all off with all of that price gouging.

Just want to clear up a misconception about gas prices. The oil companies were not responsible. It was caused by giant funds speculatinfg to grab fast profits to cover their bad bets on housing and speculation by the deep-pocketed institutional investors - not the traditional supply-and-demand issues. Now, of course, they've screwed everyone over because they mucked up the housing loan market as well.

 

[corndog]

Just want to clear up a misconception about gas prices. The oil companies were not responsible. It was caused by giant funds speculatinfg to grab fast profits to cover their bad bets on housing and speculation by the deep-pocketed institutional investors - not the traditional supply-and-demand issues. Now, of course, they've screwed everyone over because they mucked up the housing loan market as well.

And don't forget tin foil futures!

 

[S. C.]

It's ironic that when it was the Wall St. bankers getting the bailout and yet
still paying out their bonuses to their top execs., it was because they had
"contracts" that needed to be honored. Yet when the blue collar autoworker
has his/her feet to the fire, their contracts don't seem to be worth the
paper they are printed on

 

[rie'smom]

And don't forget tin foil futures!

http://www.cbsnews.com/stories/2009/01/08/60minutes/main4707770.shtml

http://nmcep.nmt.edu/index.php/NMCEP-and-Related-News/expert-speculation-drove-up-oil-prices.html

http://www.msnbc.msn.com/id/26641528/


and it's likely to happen again:

http://www.mcclatchydc.com/homepage/story/68552.html

 

[PaulaSB12]

I feel sorry for anyone who worked for years with an expectation of future payment that has been now blown to bits. People do take jobs based on benefits and pension expectations and to have them blow up in your face during your golden years really, really sucks.

We're going to have more people needing Medicaid, food stamps, soup kitchens, and public aid as a result of this economic mess. I don't know what the answer is but a cold-hearted, I-don't-give-a-rat's-behind attitude will come back to bite you in the derriere. We're all going to sink.....or swim.....together.

I agree with you there seems to be an attitude of dislike for these nasty peasants in factories earning a good wage. I work in a factory (its doing ok during this financial mess, made £100 million profit last year) and yes I have a wage that is more than managers in other places get. That is because that is what the firm offered us to get us to go 24/7. I really don't get the attitude that you should only get a good wage if you have been to university.

 

[TheZue]

http://www.cbsnews.com/stories/2009/01/08/60minutes/main4707770.shtml

http://nmcep.nmt.edu/index.php/NMCEP-and-Related-News/expert-speculation-drove-up-oil-prices.html

http://www.msnbc.msn.com/id/26641528/


and it's likely to happen again:

http://www.mcclatchydc.com/homepage/story/68552.html

Also it might not even just be about speculators...the price of oil is in US dollars which is falling rather quickly right now. I think some of May's increase can be linked to the fall in the dollar.

 

[TheZue]

I agree with you there seems to be an attitude of dislike for these nasty peasants in factories earning a good wage. I work in a factory (its doing ok during this financial mess, made £100 million profit last year) and yes I have a wage that is more than managers in other places get. That is because that is what the firm offered us to get us to go 24/7. I really don't get the attitude that you should only get a good wage if you have been to university.

Nobody cares if the company is making money. Seriously, my dad and his co-workers used to make crazy wages and most of them didn't have anything past high school, but that business always could afford to pay them that wage and it never went to the tax payer to try to save itself.

Also keep in mind the original poster is Canadian. How well would you take it if this was the ONLY industry your government was bailing out (our banks are still profitable) and it was a foreign company.