December 08, 2008

Car Czar... Really?

It looks like the politicians are rushing through a 15 billion dollar loan to the big three. (Ford, GM and Chrysler) This plan includes the position of... I kid you not... what they are calling a Car Czar.

I've heard both sides of the argument about whether or not the government should do this. Personally, I'm against it. I think the government has no business loaning money, bailing out or getting involved in this manner with private businesses. I also feel that this is continuing down the same slippery slope that the Economic Stimulus package and the Bailout of Freddie Mac and Fannie Mae.

What's next? Are they going to start buying stock and shares in companies? Are we even going to be allowed to have privately owned companies, or is everything going to be owned and ran by the State?

The worse part of this whole thing is that I really don't think that this is going to help in the long run. We are throwing 15 billion dollars into three companies that aren't long for this world anyway. Through mismanagement, the greed of unions and the inability to create a product that can compete with foreign competitors. Sorry folks, but if they could I wouldn't have to pay for extended warranties on both of my vehicles that don't even cover the length of the standard warranties on their foreign competitors.

The only thing I can see that would save the American motor companies would be to completely reinvent how they work from the ground up. Starting with the termination of most of their higher end executives and then getting rid of the unions. Anything short is just prolonging the death of an American industry.

Posted by Contagion in Politics at December 8, 2008 09:15 PM | TrackBack

The only thing I will comment on is the fact that Ford is not requesting loan money.

GM and Chrysler are the ones requesting loan money, Ford had the forsite last year to secure money in loans in case they would have such a need.

Posted by: Quality Weenie at December 9, 2008 05:48 PM

I didn't see a bailout for Edsel, Studebaker, AMC or International when they where going under, heh.

Posted by: BloodSpite at December 9, 2008 08:17 PM

QW: Ford may not be requesting the money, but they are trying really hard to get it passed. Plus Ford doesn't make a car worth owning... their trucks is a different story.

Posted by: Contagion at December 9, 2008 08:51 PM