Thursday, November 20, 2008

The car industry is vital, but . . .

I've been watching the debate over what to do with the car industry, and I'm not entirely sure that we should just tell them to take a hike. After all, we really need the industry. In addition, it's not all their fault. True, the have fought more responsible environmental and safety regulations for over forty years, but they were profitable a year or so ago. I don't think it's entirely fair to have expected them to turn over their entire operations, especially when they were making a profit of $5-10,000 per unit on the SUV's they were selling.

Still, Jesus H. Christ!

(CNN) -- Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout money.
Chrysler CEO Robert Nardelli, left, and Ford CEO Alan Mulally testify on Capitol Hill on Wednesday.

"There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they're going to be trimming down and streamlining their businesses," Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.

How stupid do they have to be to do this? Does it make you hand over any of your money?


Blogger Stevem said...

I have been thinking about this recently - probably not the only American who can say that. I feel bad for the workers who will lose their jobs - even if there is a bailout.

I wonder what would happen if we allowed the auto makers to reorganize under bankruptcy, and used the bailout money to help the workers get through it.

Does that make any sense? To anyone?

November 25, 2008 9:35 AM  

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