Wednesday, November 19, 2008

Bailout or Bankruptcy - GM Wants Your Money

I just have a quick point to make regarding the proposed GM bailout. First, and foremost, GM wants American taxpayers to reward them for mismanagement over the past several years. While they wallowed in the 'gas guzzler' attitudes of the past the Japanese and Koreans made humongous strides in alternative fuel vehicles available to the public now.

I proposed two choices for the 'soon to be former' auto giant. 1) have your primary customer bail your arse out of the fire you started with them, the oil industry! 2) you file chapter 11 Bankruptcy papers as directed by the U.S. Government. I know why you don't want to file Chapter 11. If you do you wont have the extra cash a bailout would have given you to pay those bonuses to the idiots who ran your company into the ground in the first place. Why didn't you fire them? Now you want to reward them to stay and screw up the company even more? Oh, that's right! You'll be getting a share of the pie as well! How silly of me not to see your motivation.

It's not just GM management either, UAW! If you want your membership to have jobs I suggest you look at compromising a bit. The retirement packages you have in place add about $ 3000.00 to every car sold for the added benefits you wanted, not to mention the more than generous wages to active members. Tell me, where will they take these pricey skills when GM has to start shutting down factories? Certainly not to the Japanese or Koreans, they already have reasonably waged skilled workers!

I hope Walmart is hiring by then.

Pay attention Chrysler, you'll be my next article!

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