Sanctuary


“Sanctuary” © R.L. Herron

Today is a critical day in determining whether Gen­eral Motors ulti­mately files for bankruptcy on Monday. GM bondholders must de­cide whether to ac­cept an offer to swap debt for a ten percent own­ership in the company.

It’s also the day UAW officials meet to hear more details about a new tentative labor contract. The union, being asked to exchange money owed to a retiree health care trust for a 39% ownership stake in GM instead, is expected to pass the deal.

That’s because there’s a general consensus that the union is between the proverbial “rock and a hard place.”

Despite that, many experts view Chapter 11 bankruptcy for GM as all but a certainty, saying they are doubtful bondholders will accept GM’s offer.

Which brings me around to the rest of us.

Is the general public going to take anything away in the form of better, safer, fuel-efficient vehicles? Or when all is said and done, and fuel prices drop, are they going to clamor for large SUV’s again and wonder why no one provides them?

Are the financial institutions, who are the real instigators of all the economic mess, finally going to start releasing funds for loans again? Where is the economy going? Is it all really a huge conspiracy to deprive and suppress the middle class?

It gives me a royal headache to read the news anymore. I think I’ll just grab my cameras, say a prayer or two, and look for some sanctuary of my own.

 

 

4 Responses to “Sanctuary”

  1. Wigan Blue Says:

    I'm deaf, you know… You would think there would be nothing more wrong with me wouldn't you? But I'm deaf too. It's horrible…http://www.youtube.com/watch?v=a7oGGP0BWYE&feature=relatedOur current troubles aren't so bad really…

    Like

  2. Herron Says:

    Very scary Susan. And Wigan Blue, I was thinking more along the lines of a few quaffs at the Orion Sports Bar …

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  3. Wigan Blue Says:

    Notre Dame…

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  4. Susan Says:

    Don’t you think it’s the beginning of a global economy? Lots of changes yet to come. Very scary for the U.S.

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