[What'saCobra?]

1. Everyone is not willing to blame the UAW, as if it is all their fault. Without taking up a lot of your time, it was the auto management that agreed to the UAW deal(s), so they are at least 1/2 responsible for the awful legacy costs going forward in these companies. Takes two to tango...

But: Those old managers are gone, retired, dead and otherwise feebleized. The UAW's legacy costs remain as targets of need and opportunity...

2. For the last two weeks, the entire world has expressed shock and anger that "bankers get their bonuses". Where have you been that you have missed all that scheduled hatred and grandstanding? Did you miss the pictures of the hired toughs yelling and screaming at the banker's family residences?

But: Didn't you notice that it was Senator Dodd that secretly re-wrote the bailout plans to authorize those payments, anyway, at AIG? Did he do other deals? Bet on it. Check-out his Irish cottage.

3. Many bankers not only didn't get their bonuses, but are unemployed without severance pay, before their pensions kick-in, if ever.

But: Did you see any screams for the return of fraud-based bonuses (Jamie Gorelick), excessive board-member fees (Rahm Emanuel) and campaign donations (Chris Dodd) paid by the banks (Fannie Mae, Freddy Mac) with illegal activities that were covered-up by Barney Fwank's grandstanding and purposeful mis-direction?

4. Of course UAW members have a contract and they have not missed either a single payroll, health plan payment or performance bonus, despite everyone else's considerable suffering to date. Nor should they, if they performed to specification. That's why we have contracts.

But: Have you read about any UAW concessions? Can you name a single issue that has been mitigated in these pre-bankruptcy talks? Did our walk-on-water President fire the head of the UAW for not acting in good faith or for incompetency? Why does the sacrificial lamb have to be the Chairman of Government Motors? Where is the parity and fairness in that? Didn't Wagoner have a severance contract in addition to his pension?

5. Pay ratios are an interesting way of complaining. Wagoner was at GM for 31 years, an inside ball player who had dozens of jobs, ALL of which he did with flying colors, including union negotiating; where he may very well have given away the farm instead of taking an industry-wide strike, a typical UAW strike strategy. He EARNED the job, friend. NOBODY forecast this GLOBAL downturn and political policy screw-ups.

But: If you wish to apply situational moral rules to employment and service contracts, how moral is it for President Clinton to have received $10 Million advance for his book? How moral was it for Dodd to receive sugar-daddy mortgage rates for his home(s) refinancing from Countrywide, while Chairman of the Banking Committee? How moral was it for Emanuel to have received nearly $400K for six meetings at Freddy Mac? How moral was it for the UAW to buy and operate a 1000 acre world-class resort and golf course with member's dues ($33M), losing millions per year ($23M loss the last 5 years)? i thought investments were supposed to make money? You know, profits? Returns on investments? Rents? Hello?

6. As a union employee, you don't need universal healthcare. And installing it in the USA will reduce your own access to healthcare, as it becomes rationed mostly to "productive" citizens (preferred citizens is more precise). So-called Universal Healthcare certainly will not mitigate Toyota's advantages in various right-to-work states, where flexibility and far less legacy costs are more favorable to a new company. Once UH is installed, ALL of the company's will drop their health plans, so no advantage will accrue.

But: Toyota, Honda and BMW have also more highly automated and far more flexible facilities, with less labor hour content per ton, sales dollar or unit. They are all in tax juristictions that are fair to corporations that start-up and the BIG THREE were welcome to move there years ago AND WERE ADVISED TO DO SO. They knuckled-under to the UAW at the time. Have you actually been to Detroit and experienced its raw ethnicity, urban pride and visual treats? You want your kids to work and live there?

7. "... a level playing field..." This is frequently the plea of the incompetent and incontinent. They cannot really compete in the real world and need "special concessions" from the judges, rule-makers or their political masters to remain in business, despite their poor performance and attitudes. (Air America leaps to mind.) Personally, i prefer to play down-hill and will mostly arrange my affairs accordingly, if possible. i do not ask favor, permit or privilege, but perform according to contract, specification or generous interpretation of local custom. Around the world. i play the course offered or do not play.

But: You may wish to continue to use political power to help protect the Big Three's poor performance, but i think it is not a viable strategy to contain the inevitable. Sooner or later the dems will screw the UAW. It is the thing they do. Sooner or later. Of course, only when it is absolutely necessary. Naturally. It is called situational ethics by theologians, philosophers and Constitutional conservatives.

Last note:
When dems notice that pubbies increase spending 10% on something on which the dems promised 20%, dems scream spending was "slashed".

When the UAW demands 12 percent wage/benefit increases, rather than the 5 percent offered, then both accept a mutually agreed 6 percent increase, the UAW calls that a 6 percent "concession".

Spending of any sort on anything is NEVER slashed by dems and unions, let alone reduced even a wee smidgeon.

Detroit needs complete structural and financial reform through creative destruction and re-assembly. Pelosi will not allow it. Therein lies the story for the rest of this year... the contest between President Obama and Speaker Pelosi.

i'm getting out the popcorn and plan to watch it with gleeful admiration for the contest between the gifted leviathans and political dinosaurs. Detroit will be ground zero.