Tuesday, November 18, 2008

Big 3 Bailout

What? The Big 3 (Chrysler, Ford and General Motors) want $25 billion from the $700 billion bailout money the government has allocated for the bailout of banks, businesses, etc. Several years ago, didn't we bailout Chrysler? Why are they in financial problems again? Is it for the CEO and staff's million dollar bonuses? Chrysler needs to restaff and find a staff that knows the word "budget". How many more chances do we need to give Chrysler...and, for that matter, why must American citizens rescue the Big 3? Did any of us receive large bonuses? I'm sure we'd do a much better job if put in control because most of us know what a "budget" is. Do we have to educate the Big 3?

Here's something to think about. Hasn't the reported profits of some oil companies been the greatest in years? That makes me believe the oil companies need to step in here and bailout the Big 3. After all, it would be in their best interest. If we don't have cars, then there won't be such a big demand for gas.

It's time for someone to take control and teach the Big 3 how to run their businesses. We need to stop the CEO's and their staffs from filling their pockets at the expense of American citizens. Haven't they learned from Toyota and Honda, to name a few?


MaryWalkerBaron said...

I hadn't thought about the oil companies bailing out the automobile manufacturers. That's so logical and simple.

Jason said...

The UAW needs a little tough love. It derailed the Cerberus deal at Delphi. Today GM suffers a loss of about $2,000 per vehicle sold. On the other hand Toyota whose employees are not part of the UAW earns a profit of about $1,200 per vehicle sold. If GM was able to operate with labor prices near Toyota’s it would have pocketed an additional $29,715,200,000.

GM bailout nonsense

Arava said...

great idea! Seems like a prefect marriage.