What say you?...

US stock market future heads for a dive tonight as the bail out plan for GM and Chrysler was halted by US senate.Main reason to the failure of the US14bil bailout was rather perculiar from my perspective... why so??Simple, the unionized autoworkers (UAW) are unwilling to accept a reduction in wages starting from next year but prefer to do it somewhere in 2011.This is how it works....People who are desperate for help don't have much right to negotiate the rule to be honest...This is the people's tax money we're talking about and these people are still living in the state of denial by believeing that they are too big to fail...

Now answer this,
1) Is Lehman Brothers not big?
2) Did AIG take the loan even though the Fed set a ridiculously high interest rates on the bail out loan?

The answer is yes,... and frankly... without the big 3, the japanese car makers are still there.If the UAW still insists on not having any paycut, I tell you, GM and Chrysler will have to get the bail out money from somewhere or just opt for bankruptcy and liquidate their company and get out of the business cause these people just don't evolve.... the management and the employees are like dinosaours living in today's world... they cannot accept the fact that they are no longer indisposable....
My advise, as long as the pay cut is not ridiculously huge to the extend that it affects the people's ability to survive and sustain the economy (which is the ultimate factor for the economy to recover) i say just take the deal and move on...having a smaller income is better than losing your job at this difficult time.... be realistic!