Screw the Auto Bailout

I’ve been moved from the neutral camp, directly into “fuck ’em” territory(tm), after having watched this scare video put out by GM.

So, the upshot is, we can spend $25 billion saving these turkeys… or we can watch the unemployment figures jump an average of 1% across the nation.  Okay, that in and of itself is a straight-up question… but the extent to which the video goes into truly crappy logic and argumentation… suggesting that, as the current financial mess is b/c of a .3 GDP drop, a 4% drop due to an auto crash would then be 8x worse… utterly ignoring the nature of the industry said mess occurred in, etcetera…. is simply a public attempt to use Youtube to blackmail the public.

Screw ’em.

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9 Comments

  1. This video shows why systemic change is essential at GM. I prefer a compromise solution: give them the bailout, but have a bankruptcy court administer it. Only in bankruptcy could could GM et al. receive the body blows it needs.

    Reply
  2. Amen on both counts. Won’t happen though — Pelosi et. al. are going to give them everything they want.

    Reply
  3. I agree with the screw ’em, not that I’m looking for more people to be out of work, but after that video, and having listened to a guy from the UAW on NPR this morning, I’m pretty well turned off by the bullshit logic and manipulative tactics… still, I think James is right – they’re going to get the money with a big, red bow. Jeez, I’m getting more jaded by the day thanks to this bailout.

    Reply
  4. Well, Pelosi’s Congress has its approval rating for a reason…

    Reply
  5. Mike

     /  November 17, 2008

    The really sad part about this is that given that rating, and this udder stupidity about the bailouts (all of them), we had no one able to capitalize on this in the elections in Congress (I am leaving out the Presidential run). To a party that was well and truely locked on, this was the biggest effing bullseye since we told the Enola Gay to “try and hit a city” with an atomic bomb.

    Battling for the Basement was never a truer statement than right flipping now.

    Reply
  6. blackpine

     /  November 19, 2008

    Break em up. Loan em the money, cancel all union contracts, split the company into five or six smaller divisions, and let it go.

    Reply
  7. Anyone else remember their arguments like this against federally mandated catalytic converters back in 1975? This was an (assumed) to be extremely costly add-on to every car manufactured. Of course, a foreign auto-maker quickly figured out how to reach the emission mandate by improving efficiency elsewhere in the engine at a lower cost (it’s called innovation GM, Ford & Chrysler)!

    The auto industry initially projected it’s own financial demise and had industry executives testifying to congress that A) adding seatbelts, airbags, and emission control mechanisms would cause their businesses to fail, and that B) their failure would create “the obvious tremendous loss to company, shareholders, employees, suppliers and communities.”

    Well now they may actually fail, but dang if crying wolf to resist federal mandates for safety and emission limits through all of these decades has made me a little deaf.

    On the other hand, if you need to buy a car, the GM dealership is very nice to you (like a puppy wanting love) while the Toyota sales force struck me as a bunch of jerks who didn’t care whether they got my business or not.

    A lot of very good, skilled, and smart people contribute to these products and I am sad that they will be hurt by following the dinosaur decision process off the cliff the US automakers largely appear to be headed.

    So don’t get me started about GM (or for that matter BlockBuster video) in terms of companies that the “invisible hand” may be about to squish between it’s fingers and thumb.

    Reply
  8. Go go Invisible Hand! Form of, a book! Shape of, the Wealth of Nations!

    Reply
  9. motivate09

     /  December 6, 2008

    My biggest concern was the bank bailout. Why, just to increase the debt even more? We are already on a crash course with self destruction. Why put our children out there to remain slaves to a system our forefathers never intended to be implemented? A depression seems to be on the way so why give the bankers who control the Federal Reserve the satisfaction of knowing that we as a people will remain in their clutches until the end of time. I’m a survivor as millions of others and I am ready for whatever comes about. Those who are scared sit back and understand that your future generations will remain slaves to the same system that has done nothing but fail and increases our debt to these money manipulators. I vote on impeaching the federal reserve board and incorporating a new money system for us the people. As for the Auto industry, let e’m go. As with remodeling a house remember, it has to get worse before it gets better.

    Reply

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