I don’t really know enough about the issue to say this is my firm and final opinion, but my inclination is to oppose the auto industry bailout being supported by the President-Elect and the Congressional Democrats. I just can’t see where it makes sense and do see how it then opens the door for anybody and everybody calling for bailout help whenever things get tough.
GM and Chrysler are where they are on merit. They have been abysmally-run corporations who have fought every bit of progressive legislation that has come their way.
Were a bailout to happen, I’d think it must include the removal of all current management of both companies, with no golden parachutes and firm and enforceable commitments to begin making affordable vehicles which are environmentally friendly, have exceedingly high mileage standards and which take full advantage of alternative fuels. All that with a strict deadline, five years to show real progress, ten years to get it done.
Otherwise let ’em collapse.
And use all those millions to provide retraining and support for auto workers for jobs in other industries or in the new auto makers, more along the lines of what I suggested above, which will surely spring up.
It’s time some of the hurt began hurtin’ the people who got us into this mess.