Wednesday, November 19, 2008

Big 3 Bailout - I Vote NO

I’m opposed to the big 3 bailout. I think it rewards dinosaur companies for moving too slowly and too stupidly to be able to compete with more nimble companies. I haven’t owned a US car since the early 80s, and when I get rentals, I am unimpressed by US product.

Honda and Toyota turn out higher quality cars, in the US , while paying their people 60% of what GM pays. And, they have anticipated the market by producing higher MPG cars too. What is wrong with this picture?

We keep rewarding companies who screw up (like Wall St. bailout) and that sends a message to CEOs to keep doing what they are doing – badly – because they will be rescued! Do I sound angry? I guess I am! I am a real capitalist, and I believe in natural and logical consequences of our actions. People, companies and governments don’t change unless they experience pain that changes their paradigm. Our economy might have to take a few hits in order for US business to learn to act more ethically and responsibly.
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