It’s official. The auto industry has gotten a 17.4 billion (with a “B”) dollar bailout… and that is just for a start to hold them over until the new administration and congress gets in office. As our Ford Explorer starts to fall apart conveniently as the warranty expires and the dealer admits the extended warranty [...]
I’ve always felt funny about the use “czar” in US politics. The word is rooted in ancient Rome when the emperors took Julius’ name to signify their stature. The name was reused in the form of tsar (czar) in Russia to denote their emperors. So needless to say a name used to signify imperial rule [...]
It looks like the US automaker bigwigs learn fast that you don’t show up for the welfare line in an Armani suit. It’s a shame that they don’t learn how to run automobile companies so fast. It seems almost days ago that they few into Washington in their private jets with tin cans extended, begging [...]
In the latest episode of the national bailout comedy act, the big three auto maker executives flew to Washington in private jets to beg for our government’s bailout money.
Wagoner, whose flight reportedly cost $20,000 round-trip — about 70 times more than a commercial airline ticket — told Congress he expected about $10-$12 billion from the [...]
So who would really be the target of an auto industry bailout? GM, Ford, and Chrysler? I think the real target would be the United Auto Workers union. Now I am normally all for saving jobs, but let’s consider that the big three pay approximately 12,000 people not to work as part of the UAW’s [...]
Ever since the government bailed out the banks, it seems that Washington has installed a “Bailout Line Forms Here” sign in Washington. Within days of passing the banking bailout, there was already talk of the auto industry wanting their share too. The question now is, who really needs a bailout? Or better yet, who should [...]
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