by reader Movie Guy It might be helpful to read the 2007 contracts negotiated between the UAW and GM, Ford, Chrysler. Recommend reading the highlights if not the contracts. Might improve the discussions on this matter. GM-UAW Labor Contract – 2007 UAW presentation UAW-GM 2007 Contract GM presentation UAW-GM 2007 Contract Ford-UAW Labor Contract – […]

rdan RGE Monitor notes this aspect of currency trading. (May require subscription for the full article) Dec 12: South Korea and Japan have agreed to increase an existing unconditional KRW-JPY swap arrangement to $20bn from $3b effective until April 2009. This supplements a $10b agreement that can be used in times of crisis.China and South […]

rdan (part of e-mail communications lifted for the idea) “Although the share of manufacturing employment has steadily fallen over time, the share of manufacturing output (to total output) has been remarkably stable over the same period. Labor productivity growth in manufacturing over this period can explain the falling employment share and the constant output share.” […]

Shoe-Hurling Iraqi Becomes a Folk Hero – NYTimes.com Sweg said it sooner than me: It is clear that this is an episode of non-violent civil disobedience even if a certain element would prefer to paint it in a more menacing light. I am unaware of any reported deaths by shoe. But there does seem to […]

rdan(hat tip ataxingmatter) Start Making Sense notes: In 2004, Congress enacted a temporary dividends received deduction for U.S. multinationals that repatriated foreign earnings. Under the temporary DRD, the tax rate on dividends from foreign subsidiaries effectively was lowered from as high as 35 percent to just 5.25 percent, but only for dividends during a 12-month […]

by James Flannery Screw You Haikus, Take Two Bubba in Ford Truck made by Percy in Detroit barks, “buy American!” Percy in Nissan made by Bubba in Dixie scoffs, “Fords really suck!” The end of NASCAR— that might turn Alabama blue in a hurry Clinton, born Redneck, sought to feign the aristocrat revealed a Redneck […]

by cactus Caught Between the Union Incompetence and Management Incompetence I was just talking to my Dad. He had an interesting take on the whole Big 3 bail-out, and I figured I’d try to pass along what he said as best I can: When I was 18, I was elected a union representative. This was […]

DECEMBER 14-20, 2008 Key economic news, data, reports, and other information in the rapidly changing economy. Your suggestions and links in comments will be updated periodically in the main post. ANGRY BEAR’S ECONOMIC ROUNDUPDECEMBER 14-20, 2008 Economic Forecast This week Economic Forecast Next week FRBNY National Economic Indicators Calendar AFP ECON WATCH: Brief Overview of […]

rdan GAO states in a press release today: Demonstrates Significant Problems Some Major Agencies Fail to Garner ‘Clean Opinions’;Problems Make it More Challenging for Informed Decisions WASHINGTON (December 15, 2008) – For the 12th year in a row, the U.S. Government Accountability Office (GAO) was prevented from expressing an opinion on the consolidated financial statements […]

Canadian Conservatives on the Subprime Bandwagon Noni Mausa From the Canadian newspaper of record, the Globe and Mail, the Saturday, Dec 13 edition. Apparently, like Mary and her little lamb, wherever neo-conservatives go, subprime is sure to follow. Emphases are mine: ============ SPECIAL INVESTIGATION How high-risk mortgages crept northJACQUIE MCNISH AND GREG MCARTHUR December 13, […]