Everyone has an opinion these days on whether or not to bail out the auto makers. I even talked about it in the affirmative just a few days ago. Everyone from Barney Frank and Nancy Pelosi to Christopher Dodd and Vice-President-elect Joe Biden has weighed in on what the Treasury should do with our money.
Maybe they should ask the people paying the bill?
I am going to do a complete 180 on my opinion on saving the autos because Rick Wagoner won’t resign his position as CEO of GM. Asked if he would step down as a condition for receiving funds to prop up GM Mr. Wagoner said during an interview with Automotive News that “This is an issue that needs to be addressed urgently,” and “now is the time to overshoot, not undershoot.”
He went on to say “I don’t think it’d be a very smart move.” “I think our job is to make sure we have the best management team to run GM. It’s not clear to me what purpose would be served by my resignation.’ Isn’t that some shit? This guy has spent years putting this company in harm’s way with big SUV’s, buying Hummer, and mismanaging the relationship with the UAW and he wants to make sure to have the best management team in place to run GM? I am not entirely sure that a half dozen circus monkeys don’t qualify to run your company right now Rick!
But that is only part of the reason I am flip flopping. If GM has to go bankrupt, there will be a forced restructuring. In other words, GM will get some breathing room but it will also have to fix its internal problems instead of us just handing them a big check to do with what they want.
So, you’re the new President of the world, do you thumbs up the autos or let them die? But remember, it’s gonna be another million people out of work in a highly concentrated area of the country. Are you prepared to distress the whole of Michigan for years to come or will you throw these scoundrels a rope to serve the good of us all?
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{ 1 comment… read it below or add one }
Hey Ranter I heard a stat today that one in every ten jobs deal with the auto industry and while I’ve pissed and moaned for years that they did it to themselves we can’t let them crash and burn no pun intended but we could attach some strings that all the assholes who were there to run this into the ditch MUST GO! I think most Americans would go for that in a new York minute.