Here is an idea so crazy it just might work.Question: What industry has the highest profits?
I think we can safely answer with the oil industry. They routinely report billions upon billions of dollars of profit every year.
Question: Who would suffer if the Big 3 North American auto makers failed, and we were all forced to drive more fuel efficient imports?
Answer: The oil industry again.
So, would it not make sense for the Big 3 to go to Big Oil for a bail out, and not be in Big Oil's best interest to keep us in gas guzzlers?
Just a thought...
...No tax dollars were harmed in the making of this blog.
DJW
FOOTNOTE: I heard a reliable source today (Charles Adler) state that while General Motors and Toyota both had similar U.S. sales volumes (9,000,000 units) in 2007, G.M. lost billions while Toyota made billions.
Makes ya go hmmm
5 comments:
Bah! You're just saying that because it's true!
The reason the Auto Industry is in trouble is because they made inefficent cars, and when the price of oil skyrocketed those cars became huge drags on the family budget.
The bailouts that are being proposed are forcing the Big 3 to improve efficency and release more hybrid, electric, etc vehicles in an attempt to out do the "foreign" automakers.
It'll never happen completely in the home of the Suburban and the Corvette.
DJW
...and the Hummer
I still have a problem considering bailing out a company that offered soon to be "retired" employees a substantial buyout and a $30K car voucher...
What's wrong with this picture?
And Ford, apparently, at this time (as far as Canada is concerned) are not standing with their manicured hand outstretched; why is that? Are we to believe that they were better fiscal managers than GM and Chrysler?
Why will the CAW not even consider making concessions yet the UAW will/has?
Are the 3 biggest losers really in dire straits or do they want to see how gullible our governments truly are?
Hey, if it was good enough for the financial sector...
Is the long-term alternative that bad? I understand there would be mass unemployment -- especially in those towns that rely heavily on the auto industry and its ancilliary trades. Sometimes, to treat a disease, drastic measures are required.
Just my $0.02 worth.
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