First off... GM: Duh these guys have the worst track record with handling money in every sense of the word. Sure they have the best retirement package in the industry and take care of their workers as if they were anemic babies, but come on... 95% salary guaranteed after retirement?! How can any company with that large of a work force guarantee profits with those tactics alone.
Chrysler and Ford: Due to clearly dropping standards in and out of the factories and a clear disconnection with the public's cry for more fuel efficient vehicles continue to make huge mistakes.
Lastly: This makes me absolutely sick... They are begging for $25B in loans, shouldnt even be called loans because they will NEVER have the capacity to repay the government... so lets just call this LUNCH MONEY... And the damn CEO's of course all fly in on their private jets where just 1 trip on their g-5's and g-4's cost anywhere from 20k - 30k... and ready for this one...
Fords CEO and his wife both get huge paychecks and because they live in Seattle they commute every weekend back and from work at the cost of $60K per weekend!!!! Theoretically that is over $3MILLION in expenses a year to fly 2 people back and forth!!
Ok so Dems are saying we need to bail them out, Most republicans are saying let them crash and burn.
To be honest... I say let em burn! File Chapter 11... Its the only way that they can possible recoup losses and start fresh, hopefully building up a failing system that needs some serious revamping.
What does this mean?
1: Employee benefits and former Union Deals are going to be changed due to a ch 11 filing and i hope to God that no worker recieves a 95% salary retirement package!
2: Start making fuel efficient cars you idiots! More R&D needs to be done in fuel cell and electric technology... NOT ETHANOL!!!!! Brands like Hummer are a thing of the past and we clearly dont have an economic or personal need for them anymore, except for a military application and even then, yea we need to find a better option as many of my military friends have argued that they are crapboxes on wheels. We need to also let some brands go the way of the Do-do bird... Hummer is definitely one of them
3: Hire more proficient, intelligent, and experienced CEO's who actually know how to handle money! The collective representation has shown us that they are so far away from the pulse, and have no concept of what a budget means that they should be FIRED!
For all of you who think this is a rant... you bet it is! I love my Toyota but God thats not saying I don't support the american auto worker. We are Americans but that doesnt mean that we are the cream of the crop and can't learn from other international companies that are able to weather a global economic crisis... Like Toyota and Honda.
Anyhow... The reason for the long rant is because I really do love the cars that GM and Chrysler are producing especially the new Camaro and Challenger cars... But damn, If they could focus half their energies from advertising to R&D to put efficient cars on the road they would have a good chance against Toyota and Honda... Both have ultra-efficient hybrids available at reasonable prices... Chevy, Chrysler, and Ford, not so much.
End Rant
