Detroit auto bailout? Yes, but fire the CEOs first
The truth is that the chief executives of the Big Three automakers could have hitchhiked to Washington to beg for alms and they still would have been raked over the coals. But the fact that they came in their corporate jets was a bit much. What, they couldn’t have piled into a tricked-out Malibu and taken turns at the wheel? Richard Wagoner of General Motors, Robert Nardelli of Chrysler and Alan Mulally of Ford should begin the inevitable cost-cutting by firing their public relations consultants. They left Capitol Hill empty-handed, but they’re bound to get some kind of federal help, however grudging. In the end, I don’t think either George W. Bush or Barack Obama wants to be remembered as the president who lost the auto industry. Strings will be attached, solemn promises extracted, oaths signed in blood. At some point — I’m an eternal optimist — the wizards of Detroit might even come up with a car or two that Americans want to buy. If not, well, the Big Three execs can always come back to town — by more modest means of transportation, one hopes. If there’s anything beneficial in this predictable melodrama, it’s that contemplating a taxpayer-funded rescue of the auto industry might make Americans realize the extent to which their government already puts its big, fat thumb on the scales of free enterprise. The idea that the US economy is based on unfettered free markets is, and has long been, a cruel joke. It’s more of a joke now, arguably, than at any time since the …
June 18th, 2010 at 9:29 am
Ford didn’t want the money… so everyone keeps saying.
June 18th, 2010 at 9:35 am
WAKE THE FUCK UP PEOPLE
June 18th, 2010 at 9:46 am
GM was never really known for there cars. Does the Lumina still exist? did the Malibu ever mean as the big vechile of Chevy? NO. Ford Taraus was huge from when it started till the mid 90s. I love the new Taraus.
June 18th, 2010 at 10:18 am
well, fords just shit but it appears that you may be right about some of the GM car makers HOWEVER! gm’s cars are very well made so.. its hard to pick a side… plus with GM’s total confidence plan we have no idea if that will significantly help them or not…
June 18th, 2010 at 10:18 am
wait Ford didnt get any bailout money GM & Crysler did. GM & Crysler are slum.
June 18th, 2010 at 10:29 am
This is the kind of thing that i have a major problem with in the government. especially when we are giving trillions of tax dollars to save these people.. Yes the pres only makes 400 thousand but it cost s billions to fly him around and the JAY LENO SHOW was just a slap inour face.. I mean JUST to get them to camp David is a trmendous amount.. So we pay for him to rest.. but not to entertain and be the cute guy..It has to start at the top.. The whole Senate and House do the same kind of thing.
June 18th, 2010 at 10:44 am
I find it unexpected for Obama to fire the GM CEO… I’ll be rejoiced when he does the same with the AIG CEO. But I consider my expectations are so damn high.
PS.: Is that or I really have to stop smoking weed.
June 18th, 2010 at 10:52 am
shonniemichael- I just heard a hilarious comment on Lou Dobbs that I’m sure you will appreciate. Lou asks a top economist why the CEO of GM can be asked to resign but not the head of the UAW? His response…Well that may be difficult for a Democrat President whos election was funded by Union workers. It ammuses me how those who favor a political party can turn deaf ,dumb, and blind to the same ridiculous actions being commited by their own party. What a joke!
June 18th, 2010 at 10:57 am
WANTED
CEO to run multi billion dollar automobile manufacturer.
Responsibilities include managing day to day international business activities, tens of thousands of employees, antagonistic unions and demanding environmental groups.
Salary – $1
Bonus – don’t even think about it.
June 18th, 2010 at 11:05 am
How can the president say that the ceo should step down for not seeing this come.. The Gv’t gave huge tax incentives for small businesses to buy hummers, SUV’s, bigger trucks , diesel trucks and then raised the price of diesel fuel..This is all bullshit.. I’d rather spend the money on cars like india is producing.. why do we need cars that travel 120 miles per hour?
June 18th, 2010 at 11:33 am
Search “Auto Bailout Bullsh*t”…
Or click on my username and find it in my videos.
It’s both hilarious AND insightful.
The CEOs of GM and Chrysler are snakes!
Enjoy.
June 18th, 2010 at 12:24 pm
Dont forget about the overpaid autoworkers. Wait if you are an auto worker dont reply you are so brainwashed that ..well. Just think on this they are paid more than some college graduates for what?
June 18th, 2010 at 12:36 pm
These airhead CEOs need to get fired, I want a free damn car for giving them my tax money like that!
June 18th, 2010 at 1:23 pm
I agree. They cannot compete with the quality and efficiency of cars from here in Europe or Japan. This is like deja vu of what happened to the British auto industry back in the 70s. Let it die America and maybe it will give some people like Tesla a chance to start something fresh that takes the world by storm.
June 18th, 2010 at 1:51 pm
Perhaps, but Obama isn’t begging for hand outs for the US government.
June 18th, 2010 at 1:58 pm
Ford Motor Company is rated above industry average, tied with Nissan and Toyota, and ahead of Honda. Although GM is not as good as Ford and Japanese automakers, yet are making fast improvements and is already above industry average. Maybe you should get your facts strait before you comment about these matters. Although GM is not as good as Ford and Japanese automakers, yet are making fast improvements and is already above industry average.
June 18th, 2010 at 2:22 pm
But look at all the damnage they have done in such a short time. Its true that to blame them fully for this mess would be like to blame Obama for all the problems in the US on his first day in office. All the same they do share some of the quilt.
June 18th, 2010 at 2:25 pm
Fuck Asian cars!
White Power!
June 18th, 2010 at 3:22 pm
seen it yesterday! lets chat
i liked this video
NS
June 18th, 2010 at 4:07 pm
Have they no shame? No humility? Smoking $30 cigars, playing golf at the country club while laughing at us stupid suckers. These wealthy SHITTERS need to be stripped of all their assets and thrown in the street with their flabby, naked wifes carrying signs that say: “MY MAN IS A GREEDY, SLUTWHORE-SLUTCHILD! I AM HIS LAZY WIFE, AND I WAS BLISSFULLY UNCARING WHILE MY HUSBAND DESTROYED THOUSANDS OF FAMILIES TO FEED HIS LUST FOR POWER AND MONEY! PLEASE USE MY $3,000 PRADA HANDBAG FOR A TOILET!”
June 18th, 2010 at 4:21 pm
SOMEONE TALK TO ME
lets chat vd
June 18th, 2010 at 5:11 pm
Well I like the Mustang, and I was hoping to get one this July when my lease is up. Hang in there Ford! at least til the 4th…
June 18th, 2010 at 5:19 pm
Americans are fools to let this happen.
The US Congress voted to allow Treasury Secretary Paulson to hand over to Wall Street buddies, Over 800 billion dollars, Thats for openers.
The US Treasury on their own have dispensed billions more to financial firms. The Federal Reserve, a private company owned by foreign bankers, refuses to identify who it has given the US money it has loaned out of thin air created from debt that will hobble our children and grand children
June 18th, 2010 at 5:45 pm
press1500 … We are also middle class Americans. I have no idea how the Viper handled, my wife would not let me drive it. BTW, I hate those Japanese cars. We owned a Mitsubishi Starion and the twin turbos literally melted the engine on the Jersey turnpike. The summer heat and the combined engine heat gave my wife something like heat exhaustion. NO MORE Japanese or American cars!!!
June 18th, 2010 at 6:19 pm
Who Destroyed the electric car GM UAW or OPEC ???