NorCalSavant

As expected, President Bush has come out with a rescue plan for the auto industry. It pretty much mirrors the Senate plan. The auto companies taking the government money have to have a plan by March 31 to be a viable business. They have to ink agreements with their debtors and UAW to swap their [...]

Late last night Senate Republicans balked at supporting the bailout legislation negotiated by the Democrats and the White House.  I was a little disappointed even though I am no fan of the Big Three management. The Senate Republicans wanted UAW to agree to cutting worker compensation to the same as that for Toyota, Honda and [...]

Congress and the White House seem to be close to an agreement to bail out General Motors and Chrysler with fifteen billion dollars of emergency aid. The Detroit Big Three including GM, Ford, and Chrysler have seen their domestic auto sales drop precipitously in the ongoing recession.  They have been hit from two sides.  As [...]

In concert with the recessing economy, the price of oil at the pump has come down drastically. It sure feels great to be paying $1.80 a gallon compared to $4.50 a gallon from just a few months ago. I want these cheaper oil prices to last for a long time, but we know otherwise. Sooner [...]

We have all accepted for some time now that we are undergoing tough economic times. But how bad is it going to be before there is light at the end of the tunnel? And, how do we manage personal finances in the meanwhile? Lately, the news seems to be about one bad metric after another. [...]