I agree and could not have said it better. The standard of living adjustment started in this country about 25-30 years ago. Some were affected earlier, some later, some little yet. All will be affected eventually. For a generation or so the more powereful unions have been able to delay the inevetible for their members at the expense of the future but those days are over. This is largely what is happening to the airline industry now, though it is not the only cause. The chickens are home and they are roosting. Remember the 50s? Those days are over, and they are not comming back. Remember Studebaker. GM and Ford are in similar situations as was Studebaker in the late 40s-early 50s, and WILL follow the same path as Studebaker unless drastic adjustments are made. Yes, GM, once the largest industrial concern in the world by number of employees, sales, and profits, remains the world's largest automobile manufacturer by volume (for the time being) but it is a shadow of its former self. Year after year it's manufacturing operations struggle to remain profitable and the overwhelming percentage of its profit is from its financing operatioins. These days GM is fundamentally a health care provider for its retirees and employes, only masquerading as an autotmotive company. This situation is not sustainable. Ford is similar. The causes are many and there is enough blame to go around. Tragically, little, if anything is being done to address the fundamental issues in the macro sense. Dean
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