YepDCXrox: GOOD RIDDANCE 2008!

2008 has been a horrid year for everybody, as we all know. From problems in the Housing market, to the freeze up of the financial sector which led to the Big3's problems.

Here is a little known fact for all you "let them file chapter 11" people. Up until roughly July, Chrysler was meeting all it's financial goals to make 2008 a profitiable year. That was when the financial secotor cloapsed driving away many buyers.

Ford also had a turn around plan that was going to work. GM was the only automaker who got caught with their pants down. They didn't anticipate the finance market to collapse.

And what about oil prices? Who wants to remember the high of nearly $150 a barrel or $4.25 a gallon? I sure don't. I'm glad (as are millions) that we are at a nearly 5 year low on gasoline prices ($1.60)!!! Yet our economy isn't picking up. As of today December 31st at mid-day the DOW is up around 90 points. Not bad. That is beign fueled by GMAC getting $6 billion ($1 billion directly to GM).

Cereberus has announced that it is turning Chrysler over to the United Auto Workers for deep pay cuts and such. They are also disolving most of their 51% stake in GMAC to just 10%. They are getting out while they can with GMAC and GM.

I think 2009 will bring a lot more to the economy. Banks will have to start lending again. Houses will be purchased. New fuel efficent products coming from Detroit.