One of the few things that both Democrats and Republicans can agree upon is that the current number of unemployed workers in this country is painfully high.  Although the official “unemployment rate” is hovering around 10%, the actual unemployment rate is probably closer to 20%.  The reason for this wide disparity is that the official rate only takes into consideration those individuals who are actively seeking employment.  Those unemployed who have simply given up trying to find a job; who are perhaps waiting to be recalled or who have come to …

Today it came as no surprise to bondholders, shareholders and suppliers that General Motors was declaring Chapter 11 bankruptcy. At one time, not so long ago, General Motors was the largest auto maker in the world, and considered as the epitome of American technological know-how and industrial might. Somewhere along the way, however, GM lost its focus on building quality automobiles at an affordable price. It lost its competitive edge by caving into the unions demands, and was caught “sleeping at the switch” as consumers began to demand …

To no-one’s surprise, General Motors revealed last Thursday that they had recorded a mind-numbing loss of $30.9 billion for 2008.  The largest of the U.S. auto makers also announced that the cutting of 50,000 jobs, the closing of eleven factories and the injection of $13.4 billion in government money have failed to stem the tide of red ink.  Largely due to GM’s overly bloated size relative to its market share, government auditors have expressed doubt that the existing company will ever be able to operate without government assistance, or that GM can regain its status as …