So it looks like GM and Chrysler received their $17 Billion Bail out. Hey GM, Chrysler, you’re welcome! And I’m sure there’s more to come!
I mean, I understand how much the economy relies on these companies, and I realize how many people would be affected by not receiving a bail out – from the assembly line worker to the guy who details the cars in dealerships just before they role off the lot (and depreciate 40% at that very moment). I’d rather see these car makers who employ Joe Six Packs and Hockey Mom Husbands get bail outs before those scumbag investment firms and banks on Wall Street.
This being said, U.S. car makers have got a lot to change. I know the current economic conditions are impacting all car makers, but U.S. car makers really need to do a better job keeping up with their Asian competitors in design, technology and quality. It’s probably safe to say that the way these companies have been managed is also big reason why they are in trouble, and I’m sure both the unions and management have contributed to these conditions.
But their still is one thing that bothers me. There’s still one “entity” that has greatly benefited from U.S. built gas guzzling SUV’s and V8 Sedans – Yep, you guessed it. The Oil Companies.
With several consecutive years of record making profits, why can’t the profits from Big Oil go towards bailing out U.S. car makers? After all, U.S. car companies help generate a good portion of their largest revenue stream, so why not? I know this will NEVER happen, but it sure makes a lot of sense to me. Think of the positive spin the oil companies could put on this. It might actually help improve their horrible reputation.
Anyway, I’m sure the $17 Billion for both GM and Chrysler is just the beginning. I’m sure the next administration will be more sympathetic to their plight, but I don’t know if that’s a good or bad thing. But at the same time, I couldn’t imagine a world without a Chevy Corvette, a Jeep Wrangler, a Dodge Charger or a Ford Mustang in it.