Hey, America: Detroit's automakers are asking for a loan
Detroit Free Press gets snarky with America’s attitude toward the auto industry asking for a bail-out loan
This is not a gift, a grant or a handout. It’s a loan, the kind of thing financial institutions used to do before they all had to scurry to Washington for their own bailouts, which have been far bigger and subjected to considerably less scrutiny than this loan that the auto industry desperately needs to keep operating — and keep millions of people employed.
My big dumb idea
Here’s my bright idea for an auto bail out:
Turn 25 billion into 10 billion. Don’t give it to the CEO’s and boards that have not taken risks or tried to innovate. Don’t give it to these people that are dying, DYING for the chance to strip away pensions and health care benefits.
Take the 10 billion and guarantee current contracts for the retired and those current workers who are within a decade of taking their pensions.
This solves the, “getting screwed in the tail pipe,” problem facing union workers. Is it enough to cover them all till they die? Don’t know. Is it enough to cover the cost involved with administering program like that? No, but’s let’s setup a foundation or non-profit that does just that.
Does this make people buy more cars? No. Does this improve car costs? A little. Does this promote innovation? No, but so what. Maybe these companies need to burn out. Maybe they need to fail beyond fail before anyone running them starts trying harder. Maybe Ford needs to be bought by Mitsubishi.
That’s my big dumb idea.
Another thought? Just because everyone in the major metropolitan areas don’t drive American cars, doesn’t mean no one is buying them. They are. Trust me. Just because no of them can make a small, compact car that’s worth buying, doesn’t mean they don’t make a lt of solid, dependable, great to drive cars of all shapes and sizes. Trust me. For four years I drove most of them.
I do but I don’t
I’m hearing alot of hate being thrown at the auto industry the past few days, and I want to talk about, but I don’t.
The whole situation sucks. I can’t look at it from the big picture point of view. Sorry. I just can’t.
I disagree. It should be kittens.
As the years have gone by, it’s heartening to see how popular the film has remained. But what I find strange and oddly disturbing is that Gordon Gekko has been mythologized and elevated from the role of villain to that of hero.
