Tuesday, December 16, 2008

 

The Auto Market is Politically Incorrect

The talk of immediate federal assistance to GM and Chrysler has been in the public discourse for some time now. Of course, noted automotive industry adviser, Madame Speaker, had the solution identified last month:

“Pelosi said the plan would call for "immediate, targeted assistance" and must include several principles, including the restructuring of the companies "to ensure their long-term economic viability," new fuel-efficiency standards, and the development of advanced vehicles.” Pelosi Outlines Auto Bailout Package, Speaker Says Automakers Would Have To Agree To New Fuel-Efficiency Standards, Commitment To Innovation - CBS News

This goes in hand with the current CW that Detroit wouldn’t be in this mess if they just gave us what we crave – hybrids and the like.

Well, apparently, all business acumen for running our auto industry now resides solely with the Democratic leadership in Congress:

"Toyota Motor Corp., heading toward its first U.S. annual sales decline in 13 years, indefinitely delayed the opening of a plant in Mississippi that was to begin building the gasoline-electric Prius hatchback by 2010.” Toyota to Delay Mississippi Prius Plant Construction

…and, I guess, we don’t know what we want:

“After peaking at 181,221 in 2007, Prius sales through November are down 9.6 percent to 151,025.”

I’m sure it is at times like this that liberal politicians must wonder if their incredible talents and smarts wouldn’t have been put to better use running these businesses they clearly know more about...

Comments:
They bailed out teh banks...who wasted the money on bonuses and vacations. The car companies have proven with past bail outs that they use it wisely and gov't benefits in the end...and the people benefit all around. I agree that Chrysler and GM are too slow with the updates but, come on, the banks lost their money gambling and then blew the help they got on my dime. The car companies are much more responsible.

BTW - why did they just give the money to the creeps who screwed up the finances in the first place at AIG...the first condition should have been that the top three levels get demoted big time...no bonus, no vacation or college fund if they caused so many others to lost theirs...it's only fair!
 
Honestly, I have no idea how you think that the car companies are more rsponsible...and you've read no cheerleading on these pages for any of the government's intervention.
 
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