Pelosi refuses to let auto industry fail
- Thread starter bond tr4der
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Seriously, why bother bailing them out? You can keep a sinking ship afloat for only so long. The problem is no one wants to buy their crap. Are they going to start giving tax credit to anyone who buys a domestic car?
There's the money quote right there.
"Mr. Chairman, would you be so kind as to fly to my committee hearing here in DC next week? I have a reelection coming up and I need some video of me bitchslapping some corporate fatcats. Buy a box of Depends because it'll take several days and be very brutal. Also, I trust you are staying true to our agreement - no money spent on lobbying or to republicans. I'm sure that the new CAFE standards of 75 miles a gallon will be fine - we're even thinking of moving the deadline up to next month.
Also, I hear that your management structure has not achieved the required 65% minority integration that we require. That needs to change immediately.
One more thing before I let you go. It seems that the battery manufacturer in my state (The People's Republic of FY) lost a bid to supply all your batteries for the new hybrid. I appreciate that their bid was 47% higher than the nearest competitor, but the workers at the plant vote. And they would like to vote for me, if they still have jobs. I trust you will examine the situation beyond the very short sighted goal of immediate profit and consider the positions of your superiors. You wouldn't want those loans called in early, would you? I thought not.
Thanks for your time, and I'll see you on Tuesday. 8:30 AM - don't you dare be late."
You do not want the slime engine of government holding you afloat. I don't care whether it's Nader, Perot, democrats, republicans or libertarians in momentary control. It's trouble.
Don't forget about a new GM plant to be built in Samoa
Economic change that relates to supply and demand is neither good or bad. It is natural.
A better product than GM has been established.
GM cannot compete.
Does it make sense to send a message to all companies that if they can't compete anymore they can suck money out of the government?
The size of the company does not matter.
Economies progress through economic stages and the US left the manufactoring stage a long time ago.
The more the government intervenes the more abnormality it causes.
Ask yourself one question. Do companies deserve to function when they should be bankrupt and do you feel like paying for these companies to function when the should be bankrupt?
If everyone wanted to combine morality and compassion with business than we would still be in the stone age.
A better product than GM has been established.
GM cannot compete.
Does it make sense to send a message to all companies that if they can't compete anymore they can suck money out of the government?
The size of the company does not matter.
Economies progress through economic stages and the US left the manufactoring stage a long time ago.
The more the government intervenes the more abnormality it causes.
Ask yourself one question. Do companies deserve to function when they should be bankrupt and do you feel like paying for these companies to function when the should be bankrupt?
If everyone wanted to combine morality and compassion with business than we would still be in the stone age.
New (to the US) automakers don't have legacy pensions and health care based on pay when there was no serious competition and no health care cost spirals.
Nobody realized it at the time, but yes unions put the US Auto Industry square behind the 8-ball. But anybody in the auto biz already knows this.
You couldn't be more wrong.
In a world without fractionalized banking and debt-based fiat money the pensions and the health care costs of retirees would have been nothing more than a few cents less per quarterly dividend.
Interest and inflation are and always were the root cause. Poor management just accelerated the end.
It's the legacy costs that have done GM in. Any company that has large legacy costs has to continue to gain market share and dominance or they will go down in the same way. It's an unsustainable model, anyone with half a brain knows this. Pelosi only has the IQ of a retarted chimpanzee so she will continue to support GM.