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How Many Suits Does It Take to Screw Up the Auto Industry?
11.20.2008
How many suits does it take to screw up an industry? I think in the case of the American automakers, at least eight. One lawmaker to allow foreign car companies such as Toyota to get away with paying minimum taxes while GM and Ford pay through the nose for employee health care. Then one executive from each of the Big 3 (Ford, GM and Chrysler) as well as one PR person from each of the Big 3 to think that it was OK for the triumvirate to arrive in DC via private jet while claiming abject poverty. Then you also need one sniveling civil servant to suggest that bailing such irresponsible people out of the hole they have been helped into by their own government, their own greed, and their own unions, is a good idea for the American economy. And finally, the union rep. The last nail in the coffin is the unbelievable gall of the unions to think that autoworkers should be making $75 an hour while the rest of the country's skilled labor is hovering at between $20 and $50. With such a conspiracy against private industry in this country, is it any wonder that the little guy is having to bail out first his neighborhood bank, then his stock broker, his mortgage company, and then his car manufacturer? When is enough enough, and when does the average Joe or the average small business owner get some relief?
Posted By Lucinda Cassamassino at 1:45 PM
Comments 2 Comments:
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1. Greg DiFalco: Wrote on 12/10/08 at 8:33 PM
Pete, you couldn't be more right. We should also make it harder for companies to simply be able to migrate manufacturing overseas at a fraction of the cost. I'm just saying harder, not impossible.
 
2. Pete: Wrote on 11/21/08 at 4:34 AM
We've all been riding in these inflated bubbles since the 80s. They are bursting in every industry. Those industries and small businesses that stick to basic fundamentals will survive in the long run. The big 3 made huge mistakes that a monkey could have seen. Congress needs to clean up their mess. The CEOs should be fired if they get any sort of bail out..

The entire US economy needs to get back to basics of manufacturing, technology and services. Energy is the holy grail.
 
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