Archive for Chrylser

Big three automakers want bigger bailout

Posted in 1, news, Politics, Ranting with tags , , , , , , , on December 3, 2008 by bloggingmom67

Dear Big Three automakers:

I’m not sure what to think. First I was mad at you; then happy; then mad again.

It angered me when you swooped in on your corporate jets and ask for a $25 billion bailout of taxpayers’ money. You came with no plan on how this bailout will help your industry prevent itself from falling into this financial mess again. And you just looked greedy, as you stayed mum when an elected official asked if you’d be willing to give up your corporate jets.

To me, you acted as if the government were good ol’ mom and dad.

Big three: “Hey, I need some money?”

Congress: “What for?”

Big three: “Stuff.”

Except, the money isn’t your parents’ money. It’s money that belongs to taxpayers like me, and OK, like you. These taxpayers are facing the same recession as you that got you into a “cash-flow” problem. In fact, many of them probably have their own “cash-flow” problems.

So Congress wisely sends you back, empty-handed. Come up with a plan, you’re told. And stop acting so arrogant.

You come back to Congress. And you’ve made some progress. Ford and GM’s CEOs agree to get just $1 pay for next year if a government loan comes through. (Chrysler’s CEO is apparently only paid a $1 already.) Ford and GM agree to sell their corporate jets. They’d all cut salaries for executives.

But then you come back to Congress and ask for more money.  You say $25 billion isn’t enough; now you need $34 billion.

Honestly, it’s hard for me to understand that you need nearly $10 billion more, and it has only been about two weeks since last visit to Congress. Is that your final answer?

Yes, I get that it’s a bad thing for our economy and all your workers if you three companies go bankrupt. But do you also get that this bailout is on the back of folks who have been laid off, who aren’t getting bonuses (or never did), who aren’t getting raises this year (or ever did). Do you realize some of the taxpayers paying for this largesse can’t even stay home from work one day for illness for fear they’ll get fired.

That’s it. You can go now. I really don’t want to look at you right now.

bitchy mommy

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