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POPSNot Surprised At All... And where Michigan goes, the nation will follow. If you doubt that statement, wait 2 years... that's the approximate lag time. The only way to stop this is to stop the idiots in Washington as well as the idiots at the state level.... both parties. In this country we can all vote. Shamefully, only a small portion of the population gets off their asses and votes. I firmly believe that if you don't vote, you can't bitch. I vote.
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POPSWhat's in Your Wallet? "The problem with dubbing a company "too big to fail" is that it becomes big to turn down when it asks for more. The usual incentives for managers to keep costs under control fade when an enterprise becomes a ward of the state. A focus on pleasing customers gives way to a focus on pleasing politicians in Washington. Poorly-managed businesses survive at taxpayer's expense, while their better-managed rivals struggle through a shrinking economy and worry about what happens now that regulators own their competitor. A new risk-taking incentive emerges: If you're going to fail, make sure you fail so magnificently, so stupendously, that you get bailed out too. Bankruptcy is an alternative to this bailout black hole. Contrary to popular belief, bankruptcy actually protects a company by placing creditors' claims on hold and allowing a firm to continue to operate."
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POPSPoor little UAW! Gettelfinger is so full of crap. The only thing he cares about is his big salary! The UAW is obsolete, bloated, mismanaged and corrupt. The best thing the Big 3 could do would be file bankruptcy, reorganize and get rid of the unions.
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