Resurrection ahead?
Published: May 08, 2009
Some would say that that's because everyone has been laid off already. But there is still plenty of danger ahead, as GM and Chrysler -- each is already several thousand workers lighter than at this point last year -- navigate bankruptcy and/or restructuring. Additional plant closures and Fiat's anticipated pare down of Chrysler's dealer relationships could derail what economic progress we've seen so far. But consumer confidence (and spending) is gradually returning, and the stock market, seemingly fairly stable, is inching its way back up. It will take a couple more months of data to determine if this is a turning point, but even the Wall Street Journal couldn't resist reporting Ben Bernanke's Tuesday address as intimating "the economy is in the early stages of healing." Sounds like a great message for spring.
--Posted by Todd Obolsky, Vault Staff Writer