GM / Ford Bailout
Sometimes pictures speak louder than words, but I’ll throw some words in for good measure.
If I were and American taxpayer I would be totally pissed that my tax dollars were being wasted bailing out a couple of companies whose products quite frankly suck, hence them essentially being insolvent.
What the hell anyone thinks the benefit will be of bailing Ford and GM out is beyond me. They won’t change the way they do business, they haven’t up until now so obviously their corporate culture is rotten to the core and the only sensible thing is to allow them to fail and see what rises out of the ashes.
The whole jobs thing is a bit of a red herring, there must be a fairly high likely hood that the staff that are really required (apart from those whose jobs are not really required) will get jobs with another car manufacturer – like Toyota – so it isn’t like car manufacturing is going to disappear from the USA altogether.
US politicians need to learn from the history of car manufacturing in the UK – for years the UK taxpayer financed such manufacturing stars as Austin and the like as they churned out crappy cars with appalling designs. Finally people had enough and these companies finally died sparing the public of their rubbish vehicles.
Ford and GM both rate consistently highly with recalls, the cars are unimaginative and outdated, lack style and sophistication, and could hardly be described as cutting edge.
Time to let go and move on.