I guess there is no one to blame
We're leaving ground
Will things ever be the same again?
It's the final countdown... ~ The Final Countdown, Europe
WBBM is reporting United Airlines is grounding 100 planes, while also eliminating an additional 1000 salaried positions after having previously planned to fire 500.
What's not mentioned in this story is United has made several failed merger attempts this year with Continental, Delta and US Airways in a move to provide some financial solvency.
Additionally, General Motors announced it is closing 4 North American car plants (including one in Mexico!) and may sell the Hummer line (to whom I do not know...)
Now, of course the Government is going to have to step in and protect the Corporate interests. Oh no not Socialism! Never fret, the thousands who are going to lose their jobs will get no help (They are Just A Number) except perhaps as the bailout monies trickle down to the few who save their untenable jobs making fuel inefficient cars.
Banks and Businesses believe in the "Free Market" as long as they are doing well, but when the vagaries of economics turn against them they run to the protective skirts of the government. Of course, Bush and his Merry Band of Miscreants will have to do something because while it's perfectly acceptable to let people lose their homes and jobs and make tough choices with food and fuel the US Government can not allow large corporations to suffer such ignominious demises.
Update 06/06/08:
The US Airline Industry is about to go under.
Unemployment rates in the US reach a 20 year high.
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