Tuesday, December 16, 2008

The auto industry bailout - Part 2

I've written before about the auto industry bailout. I'm disappointed that Congress failed to act. I hope that President Bush can do something soon.

So why am I concerned about the auto industry? Because it will put a lot of people out of jobs. It will ripple throughout the economy in ways that we can't and currently don't understand and comprehend. It has the potential to put auto parts suppliers out of business, which would mess up Toyota and Honda manufacturing operations. And if these companies liquidate, it means that foreign companies, such as Tata of India and Cherry of China, can come in and purchase GM and/or Chrysler's assets and start building cars in the US. And then that money will again go overseas. I have enough of a problem with jobs being sent overseas. Cars are like a national identity. If you loose your name plates to the foreigners, then what else will we loose? Imagine a Jeep Wrangler made by Tata or Cherry. The thought sends chills down my spine. Or the thought of our US forces using vehicles made by Hummer, which is owned by a foreign corporation.

Yes, the US auto industry has done this to themselves. Yes, they need to make some concessions. But at the same time, this is a delicate game of chicken. Who's going to blink? Who will call the other side's bluff? People, wake up!! Get off your butts and make some concessions. Working for less is better than not working at all. If there is no auto industry in Detriot, you're gonna be in a very bad way. Your house won't be worth anything. There won't be any auto jobs in the state. So it is better to hold on to something you already have than to give it up and be messed up for a longer period of time.

A part of me wants them to fail. But another part of me, the pragmatic, the "I own two Chevy vehicles and I want to get parts for them for the next 10 years" part of me wants them to succeed. I've waited a long time for an inexpensive, well built automobile to be made from Detroit. I want to buy one, but I don't have the nerve to do so yet. I'm still scarred from my youth and the crappy (and embarassing) vehicles I had to endure while in my youth.

Washington, help the auto industry. Auto industry and the UAW, the government ain't gonna help if you don't make some major concessions. Strike a deal while you have some support. The more time you waste, the worse off you'll be. So get it done. And get it done NOW! I want my spare parts, dang it!!

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