Sunday, December 7, 2008

Hard Economic Times... Closer To Home

The bank was bailed out, but workers still the ones left to feel the pain...

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6 comments:

kkdither said...

I tried to be more optimistic and search for "recent good news." The newest article that popped up was from 2006... :(

December 7, 2008 10:29 AM
OrbsCorbs said...

I am freaked out. I was just considering posting this very same video, but then I thought, "More depressing news . . I dunno."

Anyway, the company claims that Bank of America cut off their line of credit, thus forcing the sudden closing of the plant. If that's true, it's very scary. I've read a number of articles already that point out that pumping money into these huge banks does nothing to solve the problem. The banks are skittish and refuse to lend the money out, so the economy remains stalled. However, on the plus side, the banks are getting billions and billions of dollars of our money, so the rich bankers will not suffer. Thank God for that.

December 7, 2008 10:39 AM
OrbsCorbs said...

Also, the oil companies that enjoyed years of government condoned price gouging on the retail fuel market are doing OK, I hear, even though they've had to drop the price of gasoline by over 50% to keep us from falling into a full scale depression. $4 a gallon or $1.80 a gallon - why quibble over a few hundred billion dollars in extorted profits for Big Oil? Have you seen the price of anything else rise and fall over 100% in a few months?

There simply is no shame or even pretense anymore in screwing the working people of this country. The rich WILL get your money - even if they have to pry it from your cold, dead fingers.

December 7, 2008 11:04 AM
SER said...

I am having a very hard time with some of this in my little head. Thinking of the auto industry, the “Big Three” said here is what you get...basically, deal with it.

Then the import companies and I will pick on Toyota, they “offered” people what they wanted and Toyota makes a damn good vehicle!

In 2002,3,4,5,6,7,8 and more then likely starting earlier, the “Big Three”, what was their sales pitch...BOHICA!!!!

December 7, 2008 9:50 PM
kkdither said...

They insisted on manufacturing big fuel consumption vehicles. Their insight into what consumers were looking for was way off.

Economical and reliable was where the trends were. Now we have to pay to cover their blunders. I realize it wasn't Joe Automaker who was at fault. It was the higher up folks that made bad decisions. So, we bail them out? I think the six figure heads should roll....

December 8, 2008 8:16 AM
OrbsCorbs said...

More bad news: "Tribune Co. is preparing for a possible filing for bankruptcy-court protection as soon as this week, according to people familiar with the matter, in a sign of worsening trouble for the newspaper industry."

December 8, 2008 10:46 AM

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