Well, we live to see another day. No news yet on the concessions but I'll make a prediction. For the plants it will be reduction of shifts which does mean lay offs. But I don't see them completely leaving buildings behind as some day they will need them back again.
The retiree benefits for salaried and Union are the huge issue. There will be stuff there. We have already lost a lot of the non essential type perks so I think it will probably just be lay offs for doom and gloom. I don't think they are talking pay cuts or loss of insurance for paid employees at this time.
Matt is at the Tech Center. That is where all the action is so I don't see too much more slashing there. It has been downsizing for the last 15 years, but most certainly probably very little overtime or bonuses.
The Dow reacted to all the news yesterday by crashing again. If the geniuses in Washington would pay attention they would realize that half the problem is uncertainty. No one will stimulate the economy because no one knows if they will have a job in a couple months. Big 3 and all the feeder suppliers included and believe me they matter way more than either of the coasts want to understand.
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