We had our annual Christmas party of store employees this evening. Lots of great food and we opened a number of the higher-end beers and wines so the employees could get a bit of on-the-job training. (grin)
Turned on Google News to find this bit of joy from Fox News:
Auto Bailout Bill Collapses in Senate Despite Intense Negotiations
Democratic leaders and the White House made final pleas for the bill's passage on Thursday, but the two sides in the Senate failed to forge a compromise.
A deal on $14 billion in aid to Detroit's Big Three automakers fell apart Thursday night in the Senate despite intense negotiations on Capitol Hill between lawmakers, union officials and representatives from the three companies.
Earlier in the evening, the talks appeared to have produced a breakthrough, with Democratic leaders "hopeful" that an agreement had been reached that would be acceptable to Senate Republicans, who have resisted the aid package. But Senate Majority Leader Harry Reid came back later to report the effort had failed, adding he was "terribly disappointed."
Republicans, after reviewing the latest version of the proposal in a closed-door meeting, balked at giving automaker federal aid unless their powerful union agreed to slash wages next year to bring them into line with those of Japanese carmakers.
Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the United Auto Workers was willing to make the cuts, but not until 2011.
The collapse of the latest negotiations came as the Wall Street Journal reported Thursday evening that General Motors had hired lawyers and bankers to consider whether to file for bankruptcy, a prospect made more likely by the outcome of Thursday's talks.
A procedural vote is scheduled Thursday night but it is expected to be little more than a formality.
"We just don't have the votes," Reid said. "I dread looking at Wall Street in the morning."
I love this bit: Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the United Auto Workers was willing to make the cuts, but not until 2011. Guess who lost in that poker game.
The Unions thought they could stall for a couple of years and their hand got called. Now the workers have to start from scratch. Nice way to protect your constituent's jobs guys... Good to see some people are listening to the street. Reid needs to go though. Two years and hopefully he is out.
