Tuesday, December 16, 2008
The economy is waiting
Hearin that the Japanese automakers wouldn’t buy out the Big 3 if they collapsed is depressing. Hearin that it could be automakers from China or India is downright scary. What do we get from China? Knock offs? Who wants a knock off Escalade? Call it a Fescalade. All (lame) jokes aside, the truth of the matter is they don’t want to see the Big 3 get knocked off because their sales are tied to our economy too. Their part suppliers go outta business too. The guy that owns 5 different dealerships, when he loses one the others hurt too and that hurts the Japanese automakers. This bailout is needed, but I feel Washington on not tryin to lose $16 billi like they did with Wall St. But stop bullshitin and get this thing passed.
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My friend,
ReplyDeleteChapter 11 is the best solution here, it allows these companies to maintain US ownership, and allows the companies to sever union contracts, the very contracts that broken these companies.
Sure the owners who signed these contracts made a bad choice, but allowing these contracts to stay in place (via bailout, or buyout) is the worst possible solution.
It's like giving $20 to a junkie, sure they can get high one more time, but they are gonna be broke and asking for more $ as soon as they come down.