We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
...if GM vanished from the earth that would be an opportunity for the other car companies and whichever of them is best-situated to expand to fill the market share void left by GM could profitably some of the capital and labor currently in use. But if a dead firm is kept on life support, that weakens all its competitorsí positions without offering any promise of resurrection.
I heard something the other day along the lines of "good companies will tend to ride this out". Compare this statement with this list of stores closing. Are any of these vital? Are any of these surprises? Does GM need assisted suicide or chemo?
In my industry, the bottom feeders are dragging us down. We can only hope that some of them will shutter before we do. That clears the path for an outfit like ours, and we don't have to compete with their desparate, bottom scraping prices. It sucks for them, but just go die already and leave some market share for us!
Here's the list of stores closing:
Circuit City stores... most recent (how many?)
Ann Taylor - 117 stores nationwide are to be shuttered
Lane Bryant,, Fashion Bug, and Catherine's to close 150 store nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down all stores
J. Jill closing all stores
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January.
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and more after January.
Home Depot closing 15 stores 1 in NJ ( New Brunswick )
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Gallery Closing all stores
Pacific Sunware closing stores
Pep Boys Closing 33 stores
Sprint/ Nextel closing 133 stores
JC Penney closing a number of stores after January
Ethan Allen closing down 12 stores.
Wilson Leather closing down all stores
Sharper Image closing down all stores
K B Toys closing 356 stores
LOWES to close down some stores
Dillard's to close some stores
It's one thing to pump taxpayer money into a whole industry. But GM, Chrysler and Ford are not the whole American auto industry. The successful, competitively priced 'American' cars are being made elsewhere than Detroit... in Alabama, Mississippi and Tennessee, for instance. I don't notice that the Democrat Congress is offering to 'bail' them out, maybe because they don't need bailing out. They aren't in thrall to the unions and their incredibly overpriced union workers. If a production-line worker is paid $179.00 an hour in Detroit, because of management cave-ins to union agitators, he and the cars he builds are priced out of the market. His counterpart in auto companies in the rest of the country are earning half to two thirds that much, and they're doing very well, thank you, and will probably keep their jobs even during a recession.
And the Democrat whiners in Congress are talking as if bankruptcy is another word for dissolution, as far as companies are concerned. It's not. Just ask the airlines, quite a few of which have gone through bankruptcy [some of them more than once] and come out the other side, still operating, and now leaner, meaner and more profitable because of it.
Bankruptcy is a way of imposing good business sense on companies too stupid and too stubborn to learn from their mistakes and excesses. Some folks may lose their jobs. And some of them will eventually migrate to auto companies in the United States which show business good sense. That's the free market system, the only system in the globe which recognizes mankind's inherent self-interest/"selfishness" and puts it to practical use.
The only time the free market system fails, is when busybodies like the Democrat Congress tamper with it.