RSSThat auto bailout seems to be working great, right?
Feb 17
Already $25 billion into the bailout and what happens? Shedding 50,000 jobs and asking for another $14B.
Automakers Seek $14 Billion More in Aid
It wasn’t difficult to predict they’d be back for more. Neither is it difficult to predict there will be more still.
If we’re investing so much money into these companies, the taxpayers (Americans and Canadians) should get a stake in them, similar to some of the financial bailouts. Maybe a change in management would be more productive than more public money.
Feb 17, 2009 @ 22:08:33
The amount of automobiles on this planet is ABSURD. Ridiculous and STUPID.
The only days I truly enjoy are severe snowstorms that stop the madness for a shortwhile.
Feb 18, 2009 @ 09:43:45
True, the amount of automobiles is absurd. But remember that the older ones are typically much worse on emissions, so it serves us better to produce newer better vehicles to replace the old ones than to have people driving around their old clunkers for years. Pollution is a problem we created, and we have to innovate our way out of it.
Feb 18, 2009 @ 11:05:17
Michael Moore was right. The government should have just BOUGHT GM Ford and Chrysler, and planned to sell them within a decade once the corruption was removed.
Feb 18, 2009 @ 12:43:46
Well it seems like Ford may be able to stand on their own, so I assume they wouldn’t need to be bought.
@Saskboy: you’re right about the corruption. Why did it take a government bailout for GM to finally get their ass in gear and start restructuring? Maybe the union wouldn’t budge previously, but I’d have to assume that’s not the full issue when bankruptcy is so close.