Not to be out done by the Real Estate, Insurance and Financial services the three main automakers are going to Washington cap in hand. And not content with closing plants and wanting a $25 billion bailout, they had to rub it in everyone’s face by landing at Dulles airport on Gulf Stream jets. Perhaps they should work for the airline industry… they’ll be next.
A round trip on a private jet costs roughly $20,000 compared to a First Class fare on a commercial Airline which costs $900-$1200.
How do Executives reconcile such behavior? Are they so removed from reality?
Apparently so.
Their reasoning for such funds is to maintain an industry that embodies the American iconoclastic spirit, a holy umbilical chord that cannot be severed, regardless of failing profits.
I have renamed the big three:
GM: Gross Mismanagement
Ford: Floored
Chrysler: Crisis-yler
By bailing out the automakers you have ostensibly nationalized the car industry. If that’s what you want fine, live with it. But these clowns want it both ways. They want taxpayer’s money to furnish a luxury lifestyle irrespective of dwindling sales.
With the gas prices coming down, where would be the incentive to make cars that are eco friendly? It would be back to urban tanks plowing down the high street. Wall Street has a short memory and so will Detroit if led by present foresight. The Japanese have found away to give the customer satisfaction with no call for bailout. How did we lose sight of the road? Hand off the wheel?
If a company cannot run any more due to lack of vision, talent and business acumen then market forces will render you obsolete. That is capitalism at work.
Perhaps we have arrived at a stage in the global world where countries will be designated a particular service to provide for the world.
It may fall on Japan to produce the cars for the world.
If that doesn’t sound very competitive then have a word with your Government they love printing money.
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