IXLR8

Do the Automakers Deserve a Bail Out?

Whenever the government mandates the auto industry to achieve environmental, safety or fuel objectives for the "common good", the "common" folks as well as the special interests like Greenpeace and the Sierra Club should pay for them through their taxes.

The most recent unfunded mandate from the Feds is estimated to cost the Big 3 about $100 Billion in just the next six years. To "help", the Feds agreed to 'loan' the Big 3 $25 Billion. (see the math here?)

So the government, representing the "common" folks should bailout GM and their compatriots--AND, AT THE SAME TIME--change some of the truly calamatous government regulations that have caused this mess. And remember, Nancy Pelosi has said that any aid to the automakers should come with strings, like no "golden parachutes".

Changes in the laws affecting the automaker should include:

1. Let the Big 3 shut down excess dealers and brands with no financial buyout (no golden parachutes).

Let the Big 3 get rid of the JOBS BANK and hourly employee buyouts (no golden parachutes).

Let the Big 3 get rid of the UAW.

Allow the Big 3 import small cars from low cost sources the same as the Japanese and Koreans do. NONE of these are is made in the US: Toyota (Yaris), Nissan (Versa), Kia (Rio), Hyundai (Excel) and Honda (Fit).

Also, anyone calling for the resignation of the Big 3 senior management without simultaneously calling for the resignation of the Union's Ron Gettlefinger and his leadership(?) team is deluded.


.