Rescue plans and their use
The 3 big auto companies received a second installment to their rescue plan and at the same time were announcing job cuts of about 47 000 jobs.
In France, the government also came up with a rescue plan for the auto industry but with the condition attached that jobs would be kept for the duration of the package.
Now the 3 manufacturers in the States are probably not competitive any more and I suspect that quite a few jobs in those 47 000 are not really productive.
But is this really a good time to cut jobs when so many are lost? I mean eventually these companies will have to face the realities of the market and of the state of the planet, but what if the government, for the time being at least, had included the same condition in it’s rescue package. Since it’s throwing all that taxpayer’s money at these companies, why not at least make sure that they are going to preserve jobs and avoid increase in unemployment?
Wouldn’t that make sense?
And don’t get me started on the money they have thrown at the banks without the government taking any stakes in these institutions. If the taxpayers are investing so much in these monsters. shouldn’t they at least be able to have a say on how that money is going to be used?
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