worry's me to be involved in all this, although ive not had ANY part to play in it, it will cost me thousands of pounds for misstakes IVE not made, worries me, im simply glad i'm NOT american as they clearly see the eye of the storm before us..
I don't think NOT being an American makes that much of a difference. The US is such a huge market for us, Europe and the rest of the world that when they struggle, we also struggle to a certain extent. There are many, many companies here that supply to the US, and are being hit hard by lack of demand from there. As 24/7 states, it's likely to get much worse before it gets better.
of blaming the current economic climate for job cutting exercises, and fourm member's right - a lot of it is simply going to be what he calls Corporate Machismo.
A company like General Motors has got some nerve, saying that it wants to borrow $18 billion dollars if it is to avoid imminent collapse, as if that situation has arisen almost overnight.
The best suggestion by far is to let the US banks convert car manufacturers' bank debts into equity. That way the car companies will get the benefit of US taxpayers funds without any big chunks of cash being handed over - the banks have already been allocated $700 billion.
The interesting fact is that 60% of the american public is opposed to any public funding to support ailing car companies, and so are many Washington politicians. The fact remains however, that if a company like general Motors was to fold it would mean job losses on a massive scale, and that isn't something that any administration wants to face unless it has to.
What all this has to do with americans being able to "clearly see the eye of the storm before us." I'm not sure - the eye of the storm is the calm part.
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