Well, I hate to say I told you so about GM and Chrysler but I think everyone knew it was bankruptcy or nothing.
Today, Obama basically said just that. Chrysler has 30 days to merge with Fiat (which may not save it) or go bankrupt. GM has a little more time, but the message is the same.
I did learn a new term today when reading about Obama’s instructions to the auto companies, it is a “bankruptcy rinse”. I have stated before that bankruptcy does not have to mean the end of the auto companies in question. It could be a structured bankruptcy that would allow the companies to “clean or rinse” themselves off debilitating legacy costs and contracts, and allow a new, lean manufacturer to emerge.
Obama actually said that the U.S. government would “guarantee” all existing auto warranties thus eliminating the biggest negative to going into bankruptcy (people would not buy cars from a company in bankruptcy) even though in actuality, that may be somewhat of a factor.
Obama, to my pleasant surprise, called the auto dilemma just like a sensible, fiscally responsible and business savvy person would have; no socialist crap included. His plan will be good for the industry, good for the nation and good for the taxpayers.
I know many will cry and protest but the message must be strong and consistent, as far as the auto industry is concerned THE OLD DAYS ARE DEAD AND GONE BECAUSE THEY ARE NO LONGER SUSTAINABLE IN TODAY’S ECONOMY.
The auto workers that had a great ride (my family) should be thankful and enjoy what they got and enjoy the lifestyle that their labors bought for them and remember that they are the last of the highly paid, non schooled, basic laborers.
A new age is dawning!
Today, Obama basically said just that. Chrysler has 30 days to merge with Fiat (which may not save it) or go bankrupt. GM has a little more time, but the message is the same.
I did learn a new term today when reading about Obama’s instructions to the auto companies, it is a “bankruptcy rinse”. I have stated before that bankruptcy does not have to mean the end of the auto companies in question. It could be a structured bankruptcy that would allow the companies to “clean or rinse” themselves off debilitating legacy costs and contracts, and allow a new, lean manufacturer to emerge.
Obama actually said that the U.S. government would “guarantee” all existing auto warranties thus eliminating the biggest negative to going into bankruptcy (people would not buy cars from a company in bankruptcy) even though in actuality, that may be somewhat of a factor.
Obama, to my pleasant surprise, called the auto dilemma just like a sensible, fiscally responsible and business savvy person would have; no socialist crap included. His plan will be good for the industry, good for the nation and good for the taxpayers.
I know many will cry and protest but the message must be strong and consistent, as far as the auto industry is concerned THE OLD DAYS ARE DEAD AND GONE BECAUSE THEY ARE NO LONGER SUSTAINABLE IN TODAY’S ECONOMY.
The auto workers that had a great ride (my family) should be thankful and enjoy what they got and enjoy the lifestyle that their labors bought for them and remember that they are the last of the highly paid, non schooled, basic laborers.
A new age is dawning!
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