I'd agree, current pay rates for GM workers are higher than the industry normal and in that case they cannot keep up with the industry in terms of cost. Formal bankruptcy where they could get rid of the parts which brought them to bankruptcy would have been much better.
Yes it would have laid many workers but correction has to happen when wrong decisions are made and that is always better than to continue the path which nearly brought a company to its end.
With 20% unemployment not sure how people are going to work.
Just so you know the underlying theme at France and Greece. Intellectual people in France know that their number of work days are not sustainable but as of now if government tries to make a change, they will not survive the election because people have taken these holidays as their right. So they cannot make the change even if they want to.
Greece has the similar socialism problem of big government, high government salaries and unrestrained spending no doubt they have high unemployment.
We are headed in that direction under current administration where government is growing without bounds and we have unemployment rate of almost 9%.
Is Greece any different, bloated government, high unemployment, high government salaries and where did it go? Default on its financial obligations. You would know that if you were aware of what is happening but seems you don't.
If it bothers someone to work extra they should not be doing that work. Because it means you are doing something you do not love. I do not mean to say you have to slave for 80 hours week but let's be honest when you want to create something you have to dig down and put efforts more than others that could mean working smart and putting more effort than others.
This just does not apply to developers it is same at wall street. Those who want to be at the top of their game are not there for money only they take satisfaction in their achievements and achieving goals.
I've heard from real people interviews why they do not work long or hard in France. They officially have one month of vacation more than the working class in US. The reason people told is they think tomorrow is not going to be better than today so why work?
And they themselves find it depressing which they accepted in the interviews.
It is almost laughable how soon people forget where they have been, how much national debt has has been piled to bring this meager growth in economy. The main reason the employers are hiring is the extension of temporary tax cuts. It is only a short term boost to the market for the time being.
Lots of these things will be coming out of white house this election year. They will propose specific changes to woo parts of population.
This one is for those who are more technical oriented, couple of days ago white house talked about reducing the corporate tax, till now they were all about increasing it. But these are just things they will put forward which according to them will be done if reelected. We all know when happens once politicians get reelected.
Do rich people use more road, parks or any public facilities more than the average person? In fact they use less. Is they any other reason than a rich person makes more money so should pay more taxes. In that context rich should also pay more at restaurants and for all other things that will also help the economy.
They worked hard to create the wealth and jobs in the ventures they created.
Any one disagreeing that entrepreneurs means wealthy for this article do not create jobs, I have a question for them, does government create jobs?
Down voting is not going to help, have you heard his any speech in last year? in most of his speeches he has talked about distribution of wealth.
What motivation does the smart people have if that happens? Entrepreneurs work hard and give up their social and personal lives to become successful and at the end of it if distribution of wealth happens who would want to do that?
So my comment was not just a remark but is a fact and he talks about wealth distribution any chance he gets.
You mean to say Bush bailed out GM, Citibank, AIG and other long list of companies??? Please at least know a little about the subject before you jump in to comment.
No surprises here.
Unions give to democrats who support them after getting elected, its a vicious cycle. And many of them are government unions using tax payer money, go figure.
Big corporations always stay on the fence as they do not want to be on one side if the other side gets the reign.