Posted: 20 November 2008
Last Updated: 08 March 2012
Published: 30 November 1999
So the auto industry has their hand out for Uncle Sam , asking for some of the federal bailout. More specifically they would like 25 billion dollars to divvy up among themselves. General motors would get more than Ford and Chrysler. Now at first glance I was like , yeah we need to do this because so many people would lose their jobs. Then I thought about it more and I have to agree with the senators that have taken a firm stand against providing aid. These guys have run their businesses unprofitably for years. They have not kept up with trends, better fuel mileage and improved factory efficiencies through technology. They have also lacked in the style department when compared to their foreign peers. They became so complacent in the continued raping of their companies money that they may soon be without a company to run. So I agree that we should let them go out of business. It happened to the airline industry, why not automobiles. I am tired of my tax dollars being used to buy mansions for CEO's that are already overpaid.
Read more: Bailout of Big 3 Autos GM Ford and Chrysler is Bad for US