Though I have mixed feelings on the topic of mixing government and industry, especially in light of the AIG nonsense and bonus concerns out there, the situation in the auto industry is pretty dire. GM Facts & Fiction Website
With the credit markets locking up money flow has dwindled. Right at a time when I think the industry is poised to make some significant strides.
This is much bigger than a Detroit problem.
If you can voice your support for this to your local reps it would be appreciated by me and a couple of million others.
Joe
Additional info -
Sample text if you want to e-mail your reps -
I am a consumer who believes it is important to have an American car industry in this country. I am asking for your help.
Some critics call helping America’s automobile industry a bailout. I strongly believe this is an investment to rebuild our nation’s economic engine. If we do nothing, the future our country faces during this downturn is clear. We will see even more economic upheaval, communities will lose substantial businesses and revenue, and thousands of jobs will disappear. The negative impact will be worse than anything we’ve seen in our lifetime.
We are at a crossroads, where given the opportunity, our nation’s auto manufacturers can lead once again. In 2010, we will see labor and health care reforms kick in. We will also see new electric vehicles introduced that will help reduce our nation’s dependence on foreign oil. And if it weren’t for the recent credit crunch, these companies would be on the road to succeed.
If Congress does not act, it will be the shortest and fastest road from recession to depression. Our economy is suffering enough. Please help prevent further job losses and devastation to our communities. I am asking that you give our nation’s car companies the opportunity to complete this turnaround.
We cannot afford to lose this cornerstone of our economy. We should not depend on other nations for our manufacturing capabilities or new technologies. And we do not want to contribute to an even deeper collapse that will leave too many people facing further economic uncertainty.
Link to find your local reps - link
Let 'em all burn. Let them burn all night and into the morning, let us watch the ashes blow away into the noon sun.
Anarchy inspires poetry.
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Let 'em all burn. Let them burn all night and into the morning, let us watch the ashes blow away into the noon sun.
Anarchy inspires poetry.
While I'd express it differently, I agree. The so-called "Big Three" have been declining for years. If they can't compete, let them fail. Why should taxpayer money be used to bail them out?
Charles Krauthammer has an interesting article on the subject on the National Review website.
Hence the mixed feelings.
Perhaps by un-freezing the credit markets the problem will lessen.
I admit to selfish motives on this, ie. job. Our company supports one of the brands. One that has succeeded, and made some great inroads into improvements, but continues to be dragged down by the industry as a whole.
While I'd express it differently, I agree. The so-called "Big Three" have been declining for years. If they can't compete, let them fail. Why should taxpayer money be used to bail them out?
I think I'll write Capitol Hill and request a bail-out. I'm a low-maintenance organization, so a mere $500k should be enough to ensure me against any future financial diffculty. It's a lot less money for a lot less risk. How could they possibly refuse me?
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While I'd express it differently, I agree. The so-called "Big Three" have been declining for years. If they can't compete, let them fail. Why should taxpayer money be used to bail them out?I think I'll write Capitol Hill and request a bail-out. I'm a low-maintenance organization, so a mere $500k should be enough to ensure me against any future financial diffculty. It's a lot less money for a lot less risk. How could they possibly refuse me?
I know, right? Private citizens, like private corporations, are considered "neutral parties" under the United States Constitution. Therefore, we, as citizens, should be granted the same rights as corporations.