Bad Move by the Big 3

I will give it to the CEO’s of the Big 3 automakers … they have guts!

Did you see them testifying before Congress on Wednesday? If you are not up to speed on this, here’s the Cliff Notes version: Ford, GM and Chrysler are on the verge of bankruptcy and are asking Congress to bail them out. Their argument – and it’s a valid one – is that if the auto industry collapse, the entire country goes down in flames.

However, the automakers looked more like those tobacco execs who went to Capitol Hill in the 1990’s and tried to tell congress, with a straight face, that nicotine was not addictive. But not even the tobacco chiefs were so brazen as to show up smoking cigars. The auto execs did something along those lines … and perhaps even worse.

Congress Autos

The leaders of Ford, GM & Chrysler on Capitol Hill today: Asking for $25B from Congress … and taking their private jets to the meeting.

Sure, the three showed up in hybrid cars to stress their push for fuel efficiency. However, it was how the flew to Washington from Detroit that was so difficult to swallow. Seems they all flew individual private jets … and when questioned before Congress … admitted it! For someone claiming poverty, it looks bad to show up on a pricey jet. As one lawmaker said today, it’s like a millionaire showing up at a soup kitchen with their hat out. Sad, when you consider they represent thousands of employees who may lose their jobs in all o fthis.

Still, I think the auto guys will get their billions … and probably be back for more. Given the current economic situation and the need to stabilize the root industries of this country. This is why Americans are so angry with this mess! It’s the blatant mismanagement of companies and resources that have put us in this hole … and the only way to climb out is for you and me to foot the bill.

I’m sorry to vent again folks, but every day there is something new to enrage us with this economic mess. It’s just frustrating that these companies cannot solve their own woes and now have to ask us for a handout … and who is to say they won’t be back for more cash.

Who says it will stop with the auto industry?

Why can’t every major industry that is in trouble ask for more from taxpayers?

Where will it end?

Probably not with automakers, hat in hand, beggin for a bailout.

%d bloggers like this: