An Auto Bailout? OK, but it will be painful for the auto industry. http://vtsl.blogspot.com/2008/11/auto-bailout-ok-but-it-will-hurt.html
November 12, 2008 Sean Lewis They caused the problem themselves by not responding to market conditions. The Auto industry wants to have a turn at the bailout trough. OK, no problem. It will cost all involved. Obama needs to assign a group of financial experts to fix the Auto industry. The group will be small and have a mandate to complete the mechanics of the turnaround in less than a year. The numbers need to be crunched and a bottom-line found. The Big Three need to become the ONE and the slashing of costs to the bone needs to begin. Legacy costs need to be rolled up and paid off. Lump sum compensations for retirees. Each car model must make a reasonable profit or discontinued. Each auto plant must make a reasonable profit or closed. Each worker must be expected to give up wages and benefits, management will be expected to do the same. Bonuses are gone. The Big Three will become divisions of the ONE, with a central plan to make a select line of cars. The best seller of each line will continue, the other two lines will be discontinued. I have no sympathy for greed or incompetence. You want help it comes with a very high price. The US taxpayer will receive 50% of the profits before taxes and expenses until the US government is paid off. This Is a quick thumbnail fix. There are other details of course. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
