I'm Baaaaaaack!

They were all back yesterday (GM, Ford and Chrysler) before Congress asking for MORE money this time and crying the blues. They say that they will cut jobs, restructure debt, cut CEO salaries to $1 a year, discontinue certain brands, modify union contracts and produce more hybrids. All they need to get now is $34 BILLION dollars.

What this means for Florida is

• 99,199 jobs
  
• 915 auto assembly jobs
  
• 12,083 auto parts jobs
  
• 86,201 sales jobs

What Congress needs to determine is what the true repercussions could be if we don't give them this Bridge Loan. It was estimated by Goldman Sachs that it could affect our economy upwards to one trillion dollars. Also the major worry is if the amount they are requesting is enough to really make a difference.

As a GM manager told me the other day, GM has plenty of money. They just are there to get the hand-out like anyone else would do.