As the global financial situation causes many nations to enter a recession we see several companies closing sending to the unemployment list hundreds of workers...this scenario is a daily happening in one of Europe's oldest nations...Portugal.This situation is caused by the inflated consumer prices of energy (oil), wheat,rice and others..practiced by the respective companies and government...
We have the example of the oil companies such as aGalp, BP, Repsol and Cepsa who still practice inflated oil prices at the pump, not passing to the motorist the international crude prices that are now around the $62 per barrel...consumers in Portugal are paying for oil at a price of $120 per barrel...
The financial situation will continue to worsen as is the case with General Motors...this American car producer is very close to bankruptcy, according to some
brokers the stock value for GM has been placed at "zero" .... this situation for the US will no doubt be catastrophic !!!!
2 comments:
I think that we should look at one of the causes of this financial situation being experienced by GM, and that consumers accept some of the blame. If everyone in the US bought local cars and supported their own economy, instead of overseas, then this would go a long way to solving the some of the problems. How many GM workers drive GM cars????
i think rick wagner should resign as chief.as he has headed gm into this state.spending cash,flying in his private jet like a king.enough of this wrong leadership.
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