This week will be where the decision will be made on whether to bailout the three US automakers GM, Ford and Chrysler.
In my opinion, I say just let them go under. The US auto industry has been on the down turn way before the current financial crisis. The crisis only speeds up their demise. It is ok to save the industry if they are doing well all along. But here, we see that the three companies failed because of mismanagement and an obvious lack of ideas to challenge the Japanese car manufacturers.
Sales of US cars are down these past decades because all they can come out are expensive, big and gas-guzzling cars while their competitors are focusing on mid-size and fuel economical cars. If they are unable to stop the slide all these time, what makes them think they can correct the mistakes and improve their sales in a few months after getting their bailout?
And what pisses me off is the way the companies CEO is threatening the US government with unemployment and dragging down a whole lot of other industries should they go kaput. HEY! You are begging for money here, aren't you suppose to be humble about it. If they are so concern about the jobs of its people and welfare of the economy, they should have buck up in the first place to prevent such things from happening.
In addition, the way they are clueless on their operations of their company and the failure tom come out with a well devised plan on how they will spent the money if they get it shows much bad mismanagement.
So I am against bailing out the US auto industry. Yes a lot of people will lose their jobs, I sympathize them and may put the country into more financial turmoil, but it is something they are not good at anymore. Rather than wasting precious resources in saving a dying industry, why not focus them on other areas to save their economy. The pail is leaking badly, what make them think it will stop it from emptying by pouring more water into it?
In my opinion, I say just let them go under. The US auto industry has been on the down turn way before the current financial crisis. The crisis only speeds up their demise. It is ok to save the industry if they are doing well all along. But here, we see that the three companies failed because of mismanagement and an obvious lack of ideas to challenge the Japanese car manufacturers.
Sales of US cars are down these past decades because all they can come out are expensive, big and gas-guzzling cars while their competitors are focusing on mid-size and fuel economical cars. If they are unable to stop the slide all these time, what makes them think they can correct the mistakes and improve their sales in a few months after getting their bailout?
And what pisses me off is the way the companies CEO is threatening the US government with unemployment and dragging down a whole lot of other industries should they go kaput. HEY! You are begging for money here, aren't you suppose to be humble about it. If they are so concern about the jobs of its people and welfare of the economy, they should have buck up in the first place to prevent such things from happening.
In addition, the way they are clueless on their operations of their company and the failure tom come out with a well devised plan on how they will spent the money if they get it shows much bad mismanagement.
So I am against bailing out the US auto industry. Yes a lot of people will lose their jobs, I sympathize them and may put the country into more financial turmoil, but it is something they are not good at anymore. Rather than wasting precious resources in saving a dying industry, why not focus them on other areas to save their economy. The pail is leaking badly, what make them think it will stop it from emptying by pouring more water into it?
Courtesy of YoungJedi
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