Big 3 needs help from Wall St

The mayor of Lansing, Michigan is blaming Wall St. for part of the Big 3’s troubles. I woulda embedded the video but CNNMoney doesn’t allow it, so click the link and check the video with the article. But he basically says that GM was in line to being successful, they had MotorTrend (or J.D. Associates) car of the year, the numbers were better than Toyota’s and then the recession hit. He also mentions how it’s unfair that Wall St. got bailed out no questions, but when it comes to the manufacturing industry (the blue collars) there are all these strings. I pretty much rock with him on a lot of his points, though he needs to hire Obama as his speech coach (talking fast like he was on crack lol). I think that it’s wack that the government is puttin these guys through the ringer when a bail out is inevitable. Just the other day when I was renting a car for work, I asked if the recession has really messed them up with people not traveling as much. The agent laughed and said that being in LA, there’s always a car accident and someone will always need a rental. What they are worried about is if GM goes under. Where will they get their cars from and who will service the old ones? I do blame Wall St for the auto industries issues (kinda) and think that some of their bailout money should be used to help the Big 3. But I do also remember a couple summers ago when the Big 3 was strugglin to sell their cars and had to give employee discounts to EVERYONE. The only time a company gives the customer the employee rates is when it’s Christmas or you need to get rid of some inventory. Still, we need to bail out the Big 3, otherwise we’ll see what Reganonomics really looks like.