GM shows up with no plan and NASCAR begging fans to show support for bailout

Well, let’s start with GM first. They come to Washington with absolutely no plan to weather the economic storm other than to beg for taxpayer money. It’s either hand over taxpayer funds or we’re going to bail and take the rest of the rest of the country with us. What? Is that a threat or just trying to be a wise guy?

The Big Three returned to Washington in their hybrid cars. They presented their plans in hopes that this will be enough to get them a government bailout. But guess what? There doesn’t seem to be any really drastic changes. Their business models haven’t really changed. Their contracts with the unions are still in place. There aren’t any secure plans to pay back the taxpayers other than creating a government oversight board. A government oversight board? Gimme a break, what the hell does government do well?

The CEO of GM and the CEO of Ford say that they will work for $1 a year if it means their companies get a taxpayer bailout. That’s great. The problem isn’t solved by paying CEOs a buck a year. The problem is solved by bring in some management talent that will make extremely difficult decisions and them paying them a gazillion dollars if they can pull their companies out of the fire without raping the taxpayers.

But there really is a true government bailout without having to rape the taxpayers. It’s called Bankruptcy. Chapter 11 bankruptcy, to be more exact. Reorganization. The magic of bankruptcy is that all outstanding contracts that are making it difficult for these automakers to compete and survive would or could be cancelled — and that includes the contracts with the United Auto Workers. Nancy Pelosi is saying that bankruptcy is not an option. Why not? Because bankruptcy would not work well for the unions.

The capitalist system - free enterprise - has lifted more people out of poverty than any other economic system ever devised by man. Example, since Russia adopted a free-market system, the middle class has grown from just 8 million persons in 2000 to 55 million persons in 2006. Russia is home to the largest number of billionaires in the world after the United States. Freedom works. And freedom means the freedom to fail if you don’t live up to consumer expectations or if you allowed yourself to be drug into unprofitability by asinine union agreements and products the consumers just don’t want.

A bailout is the easy way out for them. What a stupid idea it is to throw tens of billions of dollars at these companies only to have them declare bankruptcy down the road. How about we get rid of the union, have the big 3 file for bankruptcy and see if they can get out of it on their own? Because that $25 billion is going to go to the over inflated salaries and pension plans of it’s workers, not to innovation and efficiency.

In other bailout news for the American auto industry, NASCAR may not survive if the auto makers don’t get a bailout.

Jeff Gordon and Jimmie Johnson, among others — have been showing their support for the auto industry, urging their fans to contact their members of Congress to push through the $25 billion Detroit bailout plan.

“We’re optimistic that Congress will help support the automakers and help them get through this very difficult time,” said Andrew Giangola, Director of Business Communications for NASCAR.

First of all, I am a huge NASCAR fan, but these cars that they use are not stock show room floor models that they used to use from the 40’s thru the 70’s. These cars are roll cages with sheet metal plopped on top and a 900 horsepower motor shoved into it. They don’t need these manufacturers because they already have plenty of sponsorship money. Now this may hurt the smaller teams but so what. I don’t care if they only field 20 some cars out there because half the field ain’t worth a shit anyways. There would be less cautions plus the races wouldn’t last 4 freaking hours! They could just goto late model cars and make it real interesting! But I could handle a year without NASCAR, anything to keep Jimmie Johnson from winning four in a row!

Bookmark and Share