IDIOTS AT THE GATE:
GM, FORD AND CHRYSLER!
2 IDIOTS AND 1 REMARKABLY ARROGANT GUY* PARK THEIR GULFSTREAM JETS AND BEG FOR $$$$$$ BILLIONS! God know how much it will end up; $25 Billion is just a modest start. Try $125 Billion on the SHORT TERM.
AND THE FEDS WILL GIVE THEM THE MONEY!
No! No! No!
The better, no SMARTER game would be to LET THEM FAIL. Kinda ....
Let them file Chapter 11 bankruptcy!
That will give them the opportunity – the only opportunity – to renegotiate all their ABSURDLY EXPENSIVE/NOT-AFFORDABLE LEGACY CONTRACTS!
Then perhaps U.S. auto makers can continue to make good products, with an expense structure that is competitive with Nissan, Honda, Toyota and Hyundai, and sell those at competitive prices with Nissan, Honda .....
*The reference to the “3rd guy” is Chrysler’s Robert Nardelli. Home Depot canned him after he refused to take a pay cut. He worked there for a lousy $38 Million/year! He got $210 Million to GO AWAY!
Oh. According to some in financial circles, he also COOKED THE BOOKS!
How about you??
Sound Off On This Topic Now!
IDIOTS AT THE GATE:GM, FORD AND CHRYSLER!
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Anonymous - Log in to save post on 11/29 at 10:13AM PT
ok so the car guys took a private jet which they own to a meeting instead of charging it to the company. My question is how the government guys got there.certainly not on their dime.