First Class is not even good enough for CEO’s three largest automakers, Rick Wagoner of General Motors, Alan Mulally of Ford Motor Co., and Robert Nardelli of Chrysler Corp. Each CEO was flying in style one of their luxury business jets hope to present their arguments in Washington that the automotive industry in cash and $ 25000000000 needed to prevent taxpayers’ money in bankruptcy.
Wagoner, GM had $ 36,000,000 luxury, flew 10 to $ 12 billion for GM to put one at the expense of his failing business an estimated $ 20,000 for the trip to Washington! Even when the company is short of cash, drives a fleet of eight jets Ford Motor executives for their work. GM and Ford say that there was a business decision on their private jets to fly CEOs and is not negotiable. This is a slap in the face of taxpayers, “said Tom Schatz, president of Citizens against government waste. When the Union of Automobile Workers (UAW) for the costs is around $ 2,000, the cost of a car added responsibility, one wonders how the legacy of several executive added to the cost!
Detroit automakers nearly $ 18000000000 in cash last quarter burned through $ 7000000000 for GM, Chrysler and $ 3000000000 7 7000000000 Ford GM said, the funds just before the end of 2008, and declared that Chrysler would be difficult to survive without help.
The CEO said that what Congress has limited that they continued to fail is now the global financial crisis, the availability of credit and falling sales. They said that their problem is not their business nor their long-term strategies, but the financial situation, we are now. However, for years held the “Big Three buildings, what they wanted, without regard to the economy of the world around them and the needs of consumers, cheaper and safer cars have started to prefer better mileage. At the same time, foreign automakers building more efficient, more reliable and more fuel efficient Cars were. The truth is that the U.S. auto industry had fallen asleep, mostly.
Whatever your political persuasion, no one thinks that the car company executives do a good job. It is difficult to have sympathy for an industry that has been treated so rudely. People are afraid they will take that money and continue the same stupid decisions they made in 25 years. They descend, they say. Taxpayers’ money is up in smoke when added to poor management by example. The money to bail out GM go to a plant 300 billion U.S. dollars to build St. Petersburg in Russia, continues SUV! Consolidation and reorganization will end up with jobs abroad! Companies fail to take their place every day and others. We’re still cars, but they will not be made by American companies!
Suffice it to say, but there is so much to lose. If only one car manufacturer has declared bankruptcy, if we, the workers and materials and components and the people who produce and share work at car dealerships, some U.S. estimates, the loss of jobs in the coming years as high as second five million. A stop GM alone could push the unemployment rate in the United States next year to include May 9 percent. According to forecasts, the collapse of GM would cost the government 200 billion dollars for expenses related to unemployment insurance and other programs are connected. Other statistics show that the reduction in resistance of 50% of U.S. carmaker’s operations result in the loss of 108 billion dollars of federal, provincial and local tax revenues over three years. Therefore, some argue that it is a choice between $ 25000000000 in loans now lost more than once or billions of dollars in taxes in the future. An estimated 850,000 retirees and their dependent families, pensions and health care on the Big Three. The Big Three contributing 21000000000 per year to Social Security and Medicare. If we all companies that depend on the automotive industry, and we talk about one tenth of the labor market of the United States.
Japanese and Koreans are setting up factories in the United States. Do we want them to pick up any slack? We bail out Wall Street plutocrats, and major banks. Decelerated the American auto industry die more to write the economic future of the planet. The truth is that our auto industry important for our country and its industrial base. A production capacity lost when needed in the war, just not a threat to national security. If this is true, why do not we believe that as President Roosevelt in the Second World War?
President Roosevelt took the American workers engaged in the manufacture of what was needed. Yes, we can bail them out, but with large series. Just ask for a map of “sustainability and accountability” is not good enough. We may require “radical” changes. Then leave the ball in their court, they may be liable if they refuse to comply. ” Off with their hands. “You can do it or leave it. Otherwise, we can the consequences of the fall now, because if such an agreement is not done, America will lose the industry anyway with the taxpayers’ money.
What are these “radical” changes? The incompetent managers must be replaced. The buck stops here! No golden parachutes. No sub-contracting. The government owes the decision, the voting stock, to ensure that the industry will help us build an efficient transportation system, and create affordable, fuel efficient cars that are environmentally friendly. Of course, all these operations must be performed in the country. In playing its role in reducing our dependence on foreign oil, the car companies to become part of a solution as desired. Such a conversion would help the U.S. economy in myriad ways, and I’m sure most of us would be pleased to see taxpayer money being used for this purpose. Codde Adware
PS. More than anything, what would really help the car manufacturer is a national health care plan. There are many controversies, so this should be the subject of another article.