Though GM and the other big 3 showed up in their corporate jets to beg for bailout money from Congress, they really need it. Hundreds of thousands of American jobs are on the line and if you consider the other thousands those jobs support we are talking huge disaster if GM were to shutter its plants.
What the car makers lacked was a real plan for what they are going to do with the cash. If they intend on only using it to plug up the leaks it won't work. They need a real plan of action, albeit preliminary, to show that they actually have a vision of what the American car manufacturing worlds will look like post-recession. Perhaps a real effort to move toward non-internal combustion cars? Or a genuine fuel efficient model that doesn't look cheap and tacky.
The Japanese figured this out long ago and they lead the market in fuel efficiency and style, why can't we take that back? Perhaps because the management of the Big 3 are a bunch of ossified old billionaires who have no idea what their market is anymore.
I sincerely hope they will put their over-paid heads together and come back to Congress with a plan. The US cannot afford to let them fail. Hundreds of thousands of jobs depend on it and that will affect our whole economy. I have already written my representatives and asked them to find a way to help the automakers. We did it once with Chrysler and it worked out pretty well, we can do it again.
Saturday, November 22, 2008
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