The Big 3
Thursday, December 04, 2008
Its been very interesting watching the Big 3 in front of congress begging for money. The first time they show up on their private jets with no plans which wasn't really any different than the crooks on Wall Street who were given piles of cash no questions asked. They were reprimanded and sent back to Detroit with nothing. This time around they all drove hybrids with Chrysler driving a huge SUV which even as a hybrid still wasted a ton of gas. Anyways they had plans in hand and still received a beating today. It amazes me how the GOP is dead set against giving any money but didn't put up much a fight when it was time to bail out wall street. Hopefully the Big 3 execs have finally realized that the GOP do not care about them and just being rich isn't a good reason to support the party. As a resident of MI, I believe there should be a bailout to the Big 3 but with major strings attached. I for one have complained about the lack of choices in cars the last few years and the reliance on large SUVs. I think the Big 3 should be forced to raise CAFE standards and not just meet but exceed levels currently set 10 years out. I also blame the MI legislation who carried the water for these companies and pushed back on fuel economy. Yet another reason for me to hate Carl Levin in a long line of complaints.
I hold the Big 3 execs, the union, DC congress and local legislation to blame for all of this. The writing was on the wall years ago but all were too stupid to see and ignored the warning signs. As a capitalist society we should let them fail since the market dictates who wins and who loses. Unfortunately we cannot do this since we have already bailed out wall street and therefore must do the same here.
Btw, all the CEOs need to go, they are worthless hacks who have done nothing right. Nardelli should go first since he is the biggest loser out of them all followed by Wagner.
Posted by mardenhill 12/04/2008 05:39:00 PM
Labels: Politics
1 Comment:
-
3:27 PM
If a CEO is making millions per year for their service, does it make sense to have them drive 20 hrs round trip to D.C.? Their hourly rate must be in the tens of thousands. It would have been cheaper for them to fly and save tons of time. There is a place for business jets in the working world. What about all the jets that AIG and others are flying? They didn't have to sell their jets?
