There is definitely no reason to bailout GM further if they are going to lay off 47,000 workers. I read an interesting article by a former autoworker. I forgot what site it was on but he states..." why would we bailout companies, that have for a couple of decades, been closing factories in the US, laying off auto workers and building the cars in other countries.
They have been in cahoots with big oil, building gas guzzlers and have done nothing to help our country free itself from the grip of foreign oil. Why would we bailout companies who have forsaken the principles of Henry Ford to build a car that every average American can afford, and pay them a wage so they can afford it. When I was a kid you could buy a corvette at the average price of any automobile. Now the only thing a kid can do nowadays is look at the picture of one and drool. They are twice the price of the highest priced Cadillac.
The other thing is that these automakers may find it impossible to overcome their history. Why would an American who has bought one of their lemons, all of a sudden go back and buy another one. They have also lost their most faithful customers their employees. Why would we bailout these companies, it just doesn't make sense" some of this is paraphrased, but this guy offers some very different perspective on the issue, that I felt hit home on a personal level.
In my view it is time to stop the train, let the GM and Chrysler file bankruptcy, reorganization. Put Citigroup and bank of America into receivership and stop this taxpayer bailout baloney. It has gotten way out of hand.
Add a Reply