Bogus Big 3 Bailout

Are you kidding me?

For years, the Big 3 automakers, Ford, GM, and Chrysler have struggled with finances. Rising gas prices and credit problems of potential customers have dropped sales into a hole that even the past problems cannot match. What I wonder is this:

Why is it our problem? Why do we, as taxpayers, have to bailout companies who have not met the demands of today’s market?


Are you kidding me?

For years, the Big 3 automakers, Ford, GM, and Chrysler have struggled with finances. Rising gas prices and credit problems of potential customers have dropped sales into a hole that even the past problems cannot match. What I wonder is this:

Why is it our problem? Why do we, as taxpayers, have to bailout companies who have not met the demands of today’s market?

Yes, the Big 3 supply a huge amount of jobs. For each of those jobs, I believe the estimate is that there are (according to different sources from the media) 3 to 15 jobs. I feel deeply for those who will be out of jobs. Still, this is not a problem of my, or your making. It has only been in recent years that these companies have begun to offer fuel-flex cars, hybrids, and full fledged electric autos to the U.S. market. Instead of focusing on SUVs that guzzled gas like a fish drinks water, perhaps this current situation would not be, well, a situation.

Many of us can not afford a new car. We may have bad credit, we may just not be able to afford the down payment, or even the monthly payments. Why should we bailout any company that will not give us the time of day? ‘Sorry, you can’t have a new car, but we’d like your money anyway, please.”

Um, no?

The average top pay at a GM automobile plant employee (according to media=http://money.cnn.com/2006/03/22/news/companies/gm_delphi/index.htm) is $27 USD per hour. How many Americans do not make even half that? Yet, we will be expected to let our tax money funnel into this black hole. Not even a car to show for it. Sorry folks, I would much prefer to see my tax money going to police officers, firefighters, schools, and other things that better my community and country.

Yes, I am on a rant here. It makes me angry that we do not even get a chance to vote on this. Company after company has crawled out of the woodwork to beg for bailout monies. What ever happened to letting a company succeed or fail? Americans have spoken by curbing their spending on new cars and more. Why is the government not listening to us?

As one writer pointed out, if the Big 3 want the bailout, they need to earn it. For their take on this, visit:
http://www.latimes.com/news/opinion/sunday/commentary/la-oe-olin12-2008nov12,0,1277567.story

I doubt the big boys will read that and take note, but it would be nice if someone did even a fraction of what needed to be done to earn such a huge bailout.