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Big Three bailout requests hit $34 billion
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The "Big-3" want billions, why did this not happen for the airlines, steel factories, carpet makers, etc. ... because the Government says the "Big-3" are too big to fail & the "Big-3" think they are too important to fail.
Let them go bankrupt, they will be replaced, just like Eastern airlines, USS, etc.
When was the engineer going to put on the breaks and avoid the train wreck? Why was the Board of Directors not asking the CEO...are the inventories too high...how do your cost of production compare to the competition...have you made any headway in fund-ing the retirement of the workers...if you can't fig-ure out how to work your way out of the mess,perhaps your not up to the job of CEO and because this ocured on "your watch" you forefit the golden para-chut. Why should anyone invest in a company that is so poorly run and NOW..NOW the government thinks IT KNOWS BEST where to invest our money?? I don't see the government stepping up to fund Social Security! What other train wrecks are they ignoring? Depending on foreign oil...imagration..securing our borders... they have TOO MUCH on their list of things to do now.
Maybe as Board members we should hold our CEO's of government and withhold their golden parachuts also.
When a factory worker can make 60-70 grand a year with no College education let the UAW feed them. It takes 15 man-hours to assemble a LEXUS and 105 man-hours to assemble a Caddy something is wrong, and I don't want to pay for it.
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