i've been watching this as closely as everyone else, listening to the cries of poor us from the CEO's and hearing the tales of woe on how bad it would be for the economy, and i've decided, in my opinion, it would be best to not give them what they want.
the government has given so much funny money away to the banks, mortgage countries, etc and they can't even tell where it's gone. we're supposed to technically own their assets because it's collateral. i don't think we own anything but pieces of paper.
one of the things that is built into our government is bankruptcy laws. they are there for a reason. they allow companies to take a specific task of reforming themselves into new, more streamlined entities or closing down because it's impossible to make them profitable.
the big three automakers are saying that a bankruptcy scenario would be disastrous. why? disastrous for whom? the economy? how much worse could it get?
the reason i believe they are not interested in going the bankruptcy route is very simple. bankruptcy laws demand court supervision while the restructuring is happening.
we already are aware of some of the waste these companies have incurred. what else would pop-up if the courts were to get involved using outside agents that would scrutinize every aspect of the companies?
the Big Three CEO's are promising to reinvent, revise and restructure a model they say is no longer working. can they actually do that? personally, i don't think so.
well, actually they can, but they have too many expenses put on them that foreign companies do not. number 1 - health insurance. all foreign car makes do not have this as an expense because their companies are in countries with universal healthcare. subsidized by the government? of course, but what is so wrong with that?
exactly what are we getting for the taxes we now pay? i mean directly get?
roads and schools are falling apart. bridges are collapsing. sewer and water conveyance systems are inadequate and too old. energy sources are quickly being used up. the air we breath is slowly killing us. i don't think i need to go on.
the purpose of man establishing a government or organizing a community is to support the overall progress and well-being of himself and the community. instead we are closing in on spending $600 billion in Iraq that in no way really has anything to do with making my quality of life any better. nor yours.
priorities certainly have gone askew.
so, in my opinion, it would be best to let the automakers file bankruptcy, go through court supervised restructuring, and either come out of it better or go the way of the 1948 Tucker Torpedo or the Ford Edsel.
their are too many car models as it is...