Comments on: A Look Ahead for The Auto Bailout

By: bryanfromhouston

bryanfromhouston — Fri, 21 Nov 2008 19:15:51 +0000

Almost forgot...this is important for Jay to read.
http://meganmcardle.theatlantic.com/archives/2008/11/viewed_from_afar_its_lovely.php

By: pirate wench (demwoman)

pirate wench (demwoman) — Fri, 21 Nov 2008 19:09:59 +0000

Thank you durangodave! I'm not one of those whackos who see anti-religious conspiracies in every corner, but the historically documented religious nature of the 12 days of Christmas ought not be co-opted and twisted into meaningless doublespeak .

By: cfukara

cfukara — Fri, 21 Nov 2008 17:03:09 +0000

So,
we are told that INEFFICIENCY is the word for third world of business. And CORRUPTION is the word for their leaders and petty dictators. That the leaders allocate resources inefficiently. That the dictators often commandeer public resources for personal use. That cronyism runs amok. And that they often indulge in grandiose display of wealth even as their countries wither. And they travel in a style to be envied by their lesser citizens (struggling with mortgages, health costs, education, food costs .. and the evil cost of successfully wooing a comely damsel with a good dinner.)

Then at the end of the year, they go to external sources (Congress) to beg for AID (bailout) - so that they can splurge on hefty "pay and benefits" raises(by the $million) and exorbitant perks (executive jets) for themselves and cronies - even as their countries (auto companies) and their people(shareholders) suffer.

Therefore, with respect to these auto executives, Sarah "The Moose Hater" Palin may wonder: Is Detroit a third world country? Is it in Africa? Is it ruled by a troika?

By: usesherbrain

usesherbrain — Fri, 21 Nov 2008 16:52:28 +0000

durangodave, you beat me to it.
.
It was totally unrealated to the topic, but somehow strangely bothered me that someone wouldn't know that the 12 days of Christmas START at Christmas, not end.

By: wvng

wvng — Fri, 21 Nov 2008 16:42:13 +0000

Per Steve Benen, some reality about auto worker wages:
http://www.washingtonmonthly.com/archives/individual/2008_11/015760.php

By: bryanfromhouston

bryanfromhouston — Fri, 21 Nov 2008 15:54:12 +0000

The auto-bailout is flawed. Fundamentally, no business has long term prospects where supply and demand can find no balance. Right now, for every 10 Americans there are 9.8 cars. Sales and thus, demand has fallen by over 35% and there is no anticipated recovery until late 2010 to return to normal levels. The government is incapable of fiscally sustaining the domestic car industry in its current size and form. Subsidizing 2.5 million jobs for the next 2 to 3 years is foolish.
-
In that vein, it is time to downsize the industry by 35%. Offer benefits and job training to all of those who will soon be laid off so that the economy can recover and we can regain productive uses for their labor. Retool the entire domestic industry to produce green cars, suvs and trucks. Further, retool the shops to do most of the manufacturing by robotic processes. Invest in research and science on the order of a Manhattan project and develop energy technologies like the very existence of the U.S. depended upon the program's success. For all of the people whose jobs are really already lost, we're sorry they are gone...but with government assistance, job training or going back to school you should be able to find a new job in a newer more knowledge-based economy.

By: durangodave

durangodave — Fri, 21 Nov 2008 14:59:19 +0000

For the record, the 12 days of Christmas begins on December 25th and ends on January 6, the day when gifts are opened traditionally in many countries. Twelfth Night is the evening of January 5th.

By: kathy

kathy — Fri, 21 Nov 2008 14:45:32 +0000

wvng - thanks for that link. You've gotten fond of that make link function, haven't you. (I'm off to work. will check in later)

By: wvng

wvng — Fri, 21 Nov 2008 14:33:59 +0000

Obama is not just cooling his heels. President-Elect Barack Obama‘s transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry’s financial crisis, according to a person familiar with the matter.

By: bitterpill8

bitterpill8 — Fri, 21 Nov 2008 14:24:33 +0000

Kathy: a few years ago I worked with (not for) a large Japanese company for two years. Their executives travelled economy; stayed at middle-cost hotels (and they are in the top tier of companies) and the only real compensation I saw was a good entertainment allowance: food and drink - mostly beeroo(!).Their paper products sold worldwide at prices that we (US) could not match for equal or better quality.

I would say that excutive compensation should be a starting point for severe cuts.