We have some good news on the job front.

http://www.bostonherald.com/business...&position=also

In short, employment of Americans in the auto industry has gone from 623,000 on 2009 to almost 700,000 - 12% up since then (compared to 0.2% increases in the rest of the sectors). Places like Tennessee with their new Volkswagen plant (2000+ workers) and Honda hiring another 1,000 workers in Indiana. Auto parts suppliers are hiring - it's all across the board.

As much as I can't believe it, like the Chrysler bailout of loan guarantees in 1980, this round of 'saving an industry' appears to have worked. That cursed union - the UAW? The new contracts allow GM, Ford and Chrsyler to hire new workers at $14/hr base pay instead of around $28.

There were estimates of up to a million extra jobs lost IMMEDIATELY plus untold ramifications if GM and Chrysler were left to go Chapter 7 (close and sell). Sure, GM got a MUCH better deal than Chrysler did (being forced to be sold to Fiat) and there's some question of the accounting behind some of the loan paybacks - but GM *did* go through an IPO and the government IS in the process of divesting it's stock.

For those who complain that much of GM was 'given' to the unions, I'll say this. It puts the workers in the position of being owners. When I worked for companies that had employee stock ownership plans, the companies, IN GENERAL, did better. There was more of a sense of cameraderie.