Friday, December 12, 2008

Facing reality - Megan McArdle has "The death of a bailout": "But I think most people should be able to agree that a company on the verge of bankruptcy, which is losing a ton of money on every car it makes, cannot afford to pay its workers substantially more than the competition, particularly when there is no indication that this labor is any more productive than the competition."

Extra - GM was "burning the furniture to stay warm."

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