If you’re a student of American history, then you know market operations in this country can fit in one of two categories: an era of regulation a la financial banking or deregulation a la telecommunication. The automobile industry in the 21st century will have to say bu-bye to days of yester year. In the 21st century, the auto industry will have to enter a period of gross regulation. While Detroit Slept, the US is competing against a global economy, and competition is fierce!
I just don’t see how the US economy could justify retaining 3 automakers—hold your horsepower I am not pushing for the demise of the autoindustry—but the math doesn’t add up to keep 3. And some Republicans have it right, when they believe bankruptcy is a viable option. If the BIG 3 were smart, they would huddle together and envisage the future of the US 21st auto industry where all 3 are not left standing and present it to Congress. I won’t say who should go (there’s politics in that), but that is the reality and to forestall that reality would be a dire, costly mistake. Think about the brands and it will help you determine who has merit to stay or go… Cadillac, Saturn, Buick, HUMMER????
Uncle Sam has already appropriated at least $15,000,000,000 to aid this debilitating industry. He should not think within insular terms and falsely assume that those funds would not go directly to support the hard working laborers of that industry vis-à-vis severance, retirement, housing assistance, training/education, etc. There should not be corporate bailout without the ready admission that civic bailout is contingent upon agreement, not an afterthought.
I really don’t understand why the BIG 3 don’t get it. You can’t just schmooze down to Capitol Hill in your LearJet and think you were going to receive a homecoming in Washington. I chuckled watching C-SPAN and seeing BIG 3 make a fool of themselves and when the laborers crashed the party – genius!
In all fairness, I can’t give it to the corporate bigwigs without admonishing the role of the United Auto Workers (UAW labor union). UAW must meet with the laborers and give it to workers straight. The reality is many won’t be working on assembly lines anymore. This industry is on life support, and taxpayers are ready to pull the tube.
Shouts out to the folks in the Chi, who demonstrated that good ol' fashioned civil disobedience sitll works! The irony...
BIG 3 betta not even play games when the funds are doled out.
SO LONG, FAREWELL...
The View From Here will conclude on Friday, October 1, our third year anniversary. We would like to spend this month thanking all of our readers, followers, haters, visitors, family, friends, and fans for your continued support, encouragement, and comments over these past few years. Thanks y'all!
-The Five Spot