Autos Just the Beginning????
SAN FRANCISCO (MarketWatch) -- General Motors Corp. will announce "important changes" to its operation when it releases third-quarter results on Friday, The Detroit News reported Wednesday on its Web site, citing an internal company email. According to the email to company executives, Chief Executive Rick Wagoner and President and Chief Operating Officer Fritz Henderson will outline changes to address challenges "brought on by the volatile global economic situation," the newspaper reported. The email does not address specific changes, The Detroit News said, but GM has recently talked about job cuts, suspending matching 401(k) contributions, and other benefit cuts.
If you think this will be contained to just autos....you may be in for a very rude awakening. Obama told you last night you will have to make sacrifices......get ready. This will be necessary to restructure the system...........after a party like the last eight years of borrow borrow borrow and spend....it is now payback time.
With Volker by his side....I don't think this guy will be your typical Democrat.