On a Watch List?
After my post yesterday, I received a comment and feedback from a Blog-Troll (and lest you think I’m being purposefully derogatory, this is the terminology used on-line for people who “troll” blog sites looking to dispute information, data and perspectives that are counter to their company (or candidate’s) point of view. Whatever tools they are using to spider the net are pretty sophisticated because my blog is difficult to find- even when I’m googling and trying to find it. So basically I’m flattered.
After reading this article http://www.cnn.com/2008/US/11/19/autos.ceo.jets/index.html I am now completely against any kind of a bailout for the big 3 auto makers although I concede that the effects to our economy in totality are horrific. More disturbing is that the big 3 arrived in DC on private jets with catered meals to ask for a public sector bailout.
That these CEO’s are under an insurance rider that prevents them from flying commercial is absurd. If you have to be told to dump your jet, fly commercial, close your executive dining room and go to extreme cost-cutting measures BEFORE you shake you tin cup in Washington, then you (they) don’t get it. They shouldn’t need to be told that perhaps the 3 of them could have chartered a bus from Detroit as a means of showing solidarity and conservation.
It’s indefensible.
No bailout. Allow GM, Ford and Chrysler to file for restructured debt under chapter 11 guidelines and allow free market principles and American guile and ingenuity to prevail. I have great faith in the auto workers and those who supply into that market segment. Something better will emerge from the carcass of GM, Ford and Chrysler with greater stewardship and responsibility to the men and women who work the assembly-line.
No bailout. Do not set a precedent where we empower our government to arbitrarily decide which companies survive this economic mess and which do not.
No bailout.
Wow, we agree, though we probably come at it from different routes. The market has said that Detroit makes an inferior product that costs too much for what you get, let the chips fall where they may. I, too, think that Detroit doesn’t ‘get it’, they need to restructure in a huge way or get left behind like the dinosaur fossils they are.
What I haven’t seen is a detailed plan from Detroit that shows how the $25B fixes their problems and puts them on a path to prosperity. That’s because everyone knows it won’t do that. It’s just money down a rathole, out of their ashes will come a leaner meaner auto industry that produces what the public wants to buy.
OK, one example of Detroit malfeasance and then I’ll shut up. They sell the Chevy Aveo as little economy car, but they buy it fro Daewoo because it’s cheaper to buy it from them than to produce it themselves. That actually sorta makes sense. But then, they also rebadge it and sell it as a Pontiac G3, but since that’s a more ‘upscale’ brand, they restyle the bumper a little to make it look a tiny bit different. Now they’re marketing and selling a car they don’t make under two different redundant brands through redundant channels. Same exact car. Talk about waste, only Detroit could create that sort of inefficiency. If Pontiac is supposed to be the upscale brand, why sell the same car? And if it’s not upscale, why do they need a ‘Pontiac’ at all? When you look at it, there are just layers and layers of things wrong with how Detroit brings their products to market. That’s why it needs to be burned down and rebuilt.
Well stated Republican Dude and Java Jen.
There is a great article on CNN running now taking opinions from people in a small town in Ohio which lies next to a very successful Honda plant (more proof the industry is nor failing; just 3 large companies run poorly which are a mere part of that industry – but I digress…
Here it is: http://www.cnn.com/2008/US/11/20/honda.town/index.html
There is also a great video clip of Neil Cavuto speaking with a MI representative who is pro Auto bailout. In this clip, when asked by Cavuto why we should bail out the Big 3 with OUR money the good congressman insists it isn’t “our” money.
I guess if you look at taxpayer money and a big magical pot of gold with the rule of “finders keepers” this may make sense…
So many things broken currently. I hope we figure it out soon.
Well stated Republican Dude and Java Jen.
There is a great article on CNN running now taking opinions from people in a small town in Ohio which lies next to a very successful Honda plant (more proof the industry is nor failing; just 3 large companies run poorly which are a mere part of that industry – but I digress…) Check it out – it’s on CNN’s home page under US.
There is also a great video clip of Neil Cavuto speaking with a MI representative who is pro Auto bailout. In this clip, when asked by Cavuto why we should bail out the Big 3 with OUR money the good congressman insists it isn’t “our” money.
I guess if you look at taxpayer money and a big magical pot of gold with the rule of “finders keepers” this may make sense…
So many things broken currently. I hope we figure it out soon.