When the Big 3 automaker hearing started I was surprised to find four at the table not three. Does not Big 3 mean three? Not in America where the Union (although they only add “$200″ or “$400″ to the cost of a vehicle – which is it?) seems to be permanently attached to the hips of the Big 3. 

Snake oil – he looks like a very nice snake oil salesman – don’t look into his eyes when he speaks . . .

And once again, the White House (maybe we should hang those three pawn shop balls at the entrance) is totally out of step with the public.

A slightly relieved United Auto Workers President Ron Gettelfinger said he’s happy that the White House appears poised to step in and rescue the beleaguered auto industry, although he accused GOP senators who blocked emergency loans of trying to ‘pierce the heart’ of organized labor.

Just give me a stake and mallet!

Thank goodness we have some in government willing to stand up and actually come up with a plan that will work not a gimme, gimme, gimme. Bob Corker’s (Rep. South Carolina) plan makes sense and is every bit what a bankruptcy court would probable mandate . . .

1. Give existing bondholders 30 cents on the dollar to help reduce their overall debt load.
2. Bring wages immediately in line with companies like Nissan and Volkswagen.
3. GM owes $24 billion to the United Auto Workers VEBA (Voluntary Employees Beneficiary Association) account. The union must agree to take half of that payment in GM stock.
4. The union must agree to do away with payments to workers who are still receiving almost full compensation up to four years after their jobs have ended.

Corker reminds us that U.S. companies under UAW contracts are paying rank-and-file employees an average of $70 to $74 an hour, including benefits, while competing “foreign” companies operating in the U.S. are paying $42 to $44 an hour.

This bail-out is not going to save the Big 3 and the Union. It is only going to postpone their filing for bankruptcy long enough for them to ask for more taxpayer money. It is not going to increase sales. It is not going to make their products more competitive. The bail-out is a hand-out.

Oh yes, please excuse my French . . . I took Latin in school (before it was a dead language).