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Hillary Clinton Forum
sent a shout to 18 recipients on 11/28/2008
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Hillary Clinton Forum
sent a shout to 18 recipients on 11/28/2008Hillary Clinton Forum's Incoming Shouts
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78
GM's Trumped Up Labor Costs
United Steel Workers President Leo Gerard takes GM to task for moaning about its high labor costs. Using Gerard's $57K/year average salary, GM wages for all 252K full-time employees were only 7.7% the size of GM's $181 billion total revenue for 2007. Labor costs are not killing GM. Lack of car sales are. Though the declining economy accounts for a lot of that decline, much of it is due to GM management's production decisions.
88
The Dollar and the Great De-Leveraging
Peter Schiff has written a great article here about how the dollar is being propped up by the financial concept known as deleveraging. Assets are being sold for US dollars to raise cash, increasing the demand for US dollars, thus pushing up the dollar's value.

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