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Tag: bail out

More hands are out but don't let that stop the party

By Nick, Section News
Posted on Wed Jan 21, 2009 at 06:40:45 AM EST
Tags: Cherry, unemployment, bail out, Fieger time! (all tags)

What do you know, hands are already out everywhere. The good news is, at least one outstretched hand got swatted away yesterday and to the benefit of us all, but I'll get to that in a moment. Let's start with the first (but certainly not last) new wave of bailout cash requests heading towards the new Obama administration, this time not from automobile manufacturers but from their suppliers.

Common sense seems to dictate that a giant cash infusion for two of the Big 3 would kick-start production and lead to additional orders and purchases from the suppliers, greasing the engine of democracy and saving businesses and desperately needed Michigan jobs.

Alas, it looks like Chrysler and GM aren't playing their part in this incarnation of bizzaro-trickle-down economics. They took that bailout cash and they're hording it, keeping things in house and all but stopping production. The money erased red ink, it didn't do anything to reinvigorate manufacturing.

Read on...

(808 words in story) Full Story