Doesn't it seem strange that everybody and their mothers are asking for handouts. The one that I really do not agree with is the 25billion dollars for the "big" three automakers.
What I do think that the companies should do is file under chapter 11 of the bankruptcy laws of the United States. People do it, companies do it, WHY NOT GM,FORD, and CHRYSLER llc. The situation with Chrysler is the dumbest thing that I have heard in a while. This is a private company 80% owned by CERBERUS CAPITAL MANAGEMENT. This CERBERUS owns 100's of companies, many of them profitable. I do understand that they want to give CHRYSLER to GM for the 50% of GMAC mortgage that they do not own. Let them do it.
People say the problems of General Motors and Ford are economic related. I say BRAVO SIERRA (B.S.) The two companies did it to themselves and it started 25 years ago, with their dedication to the unions. Now I am not a union basher, but the unions were a dying breed 25 years ago, and in order to get away from them the two companies, and CHRYSLER started opening factories in Mexico for final assembly and parts manufacturing.
Now this may have been a good idea, especially around 1992 when the NORTH AMERICA FREE TRADE AGREEMENT known as NAFTA passed, but it ended up screwing with them .
People also say that the reliance on the SUV and the non increase of the CORPORATE AVERAGE FUEL ECONOMY (CAFE) standards during the George Bush reign were also a big factor. This I agree with. True, who knew that gas would be $4 a gallon, but who needs to be driving back and forth to work in the $40,000 Chevy Tahoe?
Who do you blame? I blame the companies themselves. I do not blame the Japanese companies because they make a decent product. In fact Toyota, Nissan and Honda employ about the same number of people today as GM, FORD, and CHRYSLER do.
This situation is sad, very sad.
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