BBC UK article on US big 3 auto companies begging for bailout
By Daniel at 4 December, 2008, 10:22 am
It mentions CEOs of Ford and Gm willing to work for $1 dollar a year- if only bankers were also willing to take this pay cut- of course they will already be rich people with adequate massive savings, but it shows how desperate they really are to be willing to take a year at 1 dollar if they get the bailout money, of course not likely they would have to as if government offers bailout no doubt they won’t make them work for $1
“The chief executives of Ford and GM have even offered to work for $1 a year if Congress approves the emergency aid.”
http://news.bbc.co.uk/1/hi/business/7761015.stm
UK auto sales fall again:
http://news.bbc.co.uk/1/hi/business/7764341.stm
UK auto sales lowest for 28 years and that’s as low as in the depths of the last major UK recession in 1980 when UK unemployment was the highest since the Great Depression:
http://news.bbc.co.uk/1/hi/business/7764341.stm
German auto worst ever downturn:
http://news.bbc.co.uk/1/hi/business/7762709.stm
UK house prices still falling off a cliff:
http://news.bbc.co.uk/1/hi/business/7764272.stm
Foreclosures rising in UK:
http://news.bbc.co.uk/1/hi/business/7762627.stm
Luxury UK hotel group goes bankrupt
http://news.bbc.co.uk/1/hi/england/wiltshire/7764173.stm
Nomura Japanese bank sheds 1000 London jobs:
http://news.bbc.co.uk/1/hi/business/7764107.stm
Credit Suisse to cut 5500 jobs:
http://news.bbc.co.uk/1/hi/business/7764152.stm
Europe retail sales slump:
http://news.bbc.co.uk/1/hi/business/7762385.stm
US economy weaker in all areas:
http://news.bbc.co.uk/1/hi/business/7763953.stm
BBC container experiment finds slump as enters Los Angeles in America:
http://news.bbc.co.uk/1/hi/world/7764246.stm
Fears grow for US service sector:
http://news.bbc.co.uk/1/hi/business/7763198.stm
US 2nd Mega bailout the bankers stimulus after last month’s $850 Bailout plus numerous other mostly bankers bailouts yet another mega bailout $800 Billion again this month mostly for bankers and finance industry like purchasing toxic paper:
http://news.bbc.co.uk/1/hi/business/7748362.stm
Costly bailouts add to debt mountain:
http://news.bbc.co.uk/1/hi/business/7749164.stm
Latest market ticker website item says so much about bailout everything socialism for the rich:
http://market-ticker.denninger.net/archives/2008/12/03.html
By clicking on other dates on the calendar on the right of the Market Ticker website blog, there’s many more detailed accounts of a multitude of major financial disasters, fraud and mega bailouts
http://market-ticker.denninger.net/
Not everything, that’s only a small part, in fact many things even worse in so many ways, incredible how much human suffering and so much needless but there are plenty of good things in the world too and plenty of things to be thankful for when we are more fortunate. We have Christmas to celebrate for the right reasons, no matter how poor we might be.
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