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Overstating The Case?

By Thebyus, published on Feb 20, 2009

The headlines the other day were ominous; GM will cut 47,000 jobs (upwards of 10% of their workforce) and in order to stave off total financial ruin for the U.S. economy, they need an additional 18 Billion, with a B, dollars from the U.S. Government.At first blush these numbers would seem to lend credence to the idea that the sky is indeed falling and Chicken Little is right, but in fact, a quick look at the “actual” numbers tell a far different story. GM will indeed cut 47,000 jobs worldwide, but only 20,000 of those will be in the U.S. And those half a million jobs which are so... (more)

Tags: california

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