GM's actions today are too little too late.
Consider:
1. Even if the layoffs take place the workers go into the "Job Bank" and recieve most of their pay anyway...
2. Even if many more choose to "retire" that only adds to the pension costs that are sinking the auto industry in the US.
3. The foreign competition is "eating GM's lunch" in the showrooms of the nation now.
4. They have the wrong product line up...big gas guzzlers are out...fuel efficiency is in. And even "mere" $2 gas...won't help there.
5. Health Care inflaton is not being addressed ANYWHERE..IN WASHINGTON these days.
6. And last there is always the Delphi strike looming...that would be the corporate version "murder\suicide" as one commentator put it!
Sorry, we still ain't there yet...and likely the older "legacy" industries will never climb out of the wilderness as long as the Republicans stay in power in Washington...
Maybe GM will look better after the 2008 elections....? If they can hold out that long.
