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I'm liking what I see here.
Among the Big 3, Ford shows the most promise of surviving this recession. On top of that, Mulally is promising some long over-due cuts, straight up to himself. In fact, he promises to work for only $1 a year if they get the government loan. He says he's also planning to sell all of their private jets. Oh, and he says he wants to do hybrids and electrics across the board.
It's still a risky bet, but if all that is true, then I think Ford deserves to be rescued. They already have the know-how building fuel-efficient vehicles, and even have one on the road in the way of the Ford Focus. They just need to improve its reliability and safety, and get hybrid research going quickly.
GM? Screw them. Yes, they are not scheduled to speak until later, but as far as I know, you're talking about a company who pulled the all-electric hybrid called the EV1 that was developed as far back as 1996 I think. What came after was a line up large trucks, vans, and SUVs. Why? Was it just not making money or something? A waste of time? They could have easily re-tooled for this and even become an industry leader in alternative energy vehicles, but they didn't. So now, without any proof of fuel-efficient vehicle know-how, and without any forward-thinking from management that I am aware of, I say let them file Chapter 11.
Chrysler? I hate to say it, but I feel about the same way for them.... But I'm willing to wait to hear what they have to say.
Again, the role of the government is not to bail out troubled companies per se. The role of the government is to simply protect the free market economy against any potential critical threats to its survival. Company bailouts and assistance is only the means to such an end, and not the end itself.
Besides, whether these companies get bailed out or not, severe lay-offs in its workforce seems inevitable.
But that said, I say give Ford a chance. If any of these companies can indeed turn around, it'll be good for the economy and good for all of us in the end. And if all they need is a chance to prove themselves, then as taxpayers, we can give them that chance....
I'll get off the soapbox now.
Among the Big 3, Ford shows the most promise of surviving this recession. On top of that, Mulally is promising some long over-due cuts, straight up to himself. In fact, he promises to work for only $1 a year if they get the government loan. He says he's also planning to sell all of their private jets. Oh, and he says he wants to do hybrids and electrics across the board.
It's still a risky bet, but if all that is true, then I think Ford deserves to be rescued. They already have the know-how building fuel-efficient vehicles, and even have one on the road in the way of the Ford Focus. They just need to improve its reliability and safety, and get hybrid research going quickly.
GM? Screw them. Yes, they are not scheduled to speak until later, but as far as I know, you're talking about a company who pulled the all-electric hybrid called the EV1 that was developed as far back as 1996 I think. What came after was a line up large trucks, vans, and SUVs. Why? Was it just not making money or something? A waste of time? They could have easily re-tooled for this and even become an industry leader in alternative energy vehicles, but they didn't. So now, without any proof of fuel-efficient vehicle know-how, and without any forward-thinking from management that I am aware of, I say let them file Chapter 11.
Chrysler? I hate to say it, but I feel about the same way for them.... But I'm willing to wait to hear what they have to say.
Again, the role of the government is not to bail out troubled companies per se. The role of the government is to simply protect the free market economy against any potential critical threats to its survival. Company bailouts and assistance is only the means to such an end, and not the end itself.
Besides, whether these companies get bailed out or not, severe lay-offs in its workforce seems inevitable.
But that said, I say give Ford a chance. If any of these companies can indeed turn around, it'll be good for the economy and good for all of us in the end. And if all they need is a chance to prove themselves, then as taxpayers, we can give them that chance....
I'll get off the soapbox now.
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