Yikes! I was only kidding when I said I wished gas prices would get back down to $1.32. But with $1.65 at Stop & Shop in NB, it's getting pretty close and pretty crazy.
I heard on the news last night that the heads of GM, Chrysler and Ford would be driving to Congress next time to ask for a bailout rather than take their own private jets. Nancy Pelosi has said, “We want to see a commitment to the future. We want to see a restructuring of the approach, that they have a new business model, a new business plan. There has to be compensation reform.” And indeed there does. There also has to be checks and balances on this restructuring. Will this fall on the companies' board of directors?
Frak. I don't know how I feel about this. I realize how devastating it would be for these companies & the American auto industry if they did not get this bailout. At the same time, their previous business ethics and practices are not ones I would reward. And I realize the bailout is not a "reward" but hell.
I'm not bummed that GM says it plans to eliminate Hummers. (It's fracking about time). But I am bummed about GM's plans to eliminate Saturn. I've owned two now. They have been very good cars to me and I am currently averaging 38mpg. Time will tell. Meanwhile, I can't help wonder who will be the next to travel to Washington to ask for some money.
They're supposedly capitalists, but they haven't acted like capitalists in decades. They spend as much time lobbying the government together as they do competing with one another (come to think of it, maybe more). They wait for the government to force them or bribe them to make important changes to their products, and they wait for foreign competitors to prove new concepts in the marketplace rather than innovate on their own.
ReplyDeleteTo prove that they are serious about changing, they need to go way beyond what Pelosi is asking for. The first step these companies' senior officers need to take is to fire themselves. They are addicted to failure and government aid, and they blame labor unions whenever something goes wrong. FAIL! Maybe the employees should choose new company officers.
If anyone deserves bailout money over this, it's Michigan and other states that depend on the auto industry for their economic survival. They'll need the money to give food stamps to the employees who will lose their jobs.
I completely agree that the senior officers need to fire themselves. It's evident to me that they are not doing their job or have the best interest of the company in mind. I also agree with you about the people of the state who are depending on the industry and will be in serious trouble because of this. It's all very upsetting.
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